Apollo Silver Corp. (TSX-V:APGO) (OTCQB:APGOF) (Frankfurt:6ZF0) is pleased to announce that it has closed the second and final tranche of its previously announced upsized non-brokered private placement, previously announced on January 21, 2026. Pursuant to the closing of the second and final tranche of the Offering, the Company issued an aggregate of 2,500,000 units at a price of $5.00 per Unit for aggregate gross proceeds of $12,500,000. With the completion of this tranche, the Offering is now fully subscribed for total gross proceeds of $27,500,000.

A fund managed by Jupiter Asset Management subscribed for all of the Units under the second and final tranche of the Offering.

As a result of closing the second and final tranche of the Offering, the Jupiter Fund now beneficially owns and controls 7,452,456 common shares and 3,807,200 common share purchase warrants of the Company, representing approximately 11.9% of the Company’s outstanding common shares on a non-diluted basis and approximately 16.9% on a partially diluted basis, assuming exercise of such warrants.

“We welcome and appreciate the continued participation of Jupiter Fund, as a key shareholder of Apollo Silver,” said Ross McElroy, President and CEO of Apollo Silver. “Jupiter Fund’s commitment is a strong statement of support as we continue to advance our large scale, high quality silver assets in stable jurisdictions.”

Each Unit issued pursuant to the Offering consists of one common share in the capital of the Company and one common Share purchase warrant. Each Warrant entitles the holder thereof to purchase one Share at an exercise price of $7.00 for a period of 24 months from the closing date of the Offering.

Closing of the Offering remains subject to final acceptance of the TSX Venture Exchange.

In connection with subscriptions received in the second and final tranche of the Offering, the Company paid aggregate finder’s fees totaling $312,500 to BMO Capital Markets.

The securities issued under the second and final tranche of the Offering are subject to a four-month hold period from the date of closing. The Company intends to use the net proceeds from the Offering to continue advancing the Calico Silver Project in San Bernardino, California; support community relations initiatives at the Cinco de Mayo Silver Project in Chihuahua, Mexico; cover ongoing property maintenance costs at both projects; and for general corporate purposes.

The Shares have not been, and will not be, registered under the United States Securities Act of 1933, or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Apollo Silver Corp.

Apollo Silver is advancing one of the largest undeveloped primary silver projects in the US. The Calico project hosts a large, bulk minable silver deposit with significant barite and zinc credits – recognized as critical minerals essential to the US energy and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo Silver is well positioned to advance the assets and deliver value through exploration and development.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com

Telephone: +1 (604) 428-6128