Apollo Silver Corp. (TSX-V: APGO) (OTCQB: APGOF) (Frankfurt: 6ZF) reports that Ejido Benito Juárez, located in Buenaventura Municipality, Chihuahua, Mexico, will call a second community assembly to consider lifting the moratorium on mineral exploration and development affecting lands which include the Cinco de Mayo project and the acceptance of a long-term access agreement. Based on information available to the Company, the assembly convened for this purpose on September 20, 2026, was adjourned before business was conducted, and the Company understands that this was due to a lack of quorum. The Ejido will reconvene the assembly in accordance with the procedures set out under Mexican agrarian law. The Company is in discussions with the Consejo de Vigilancia (Oversight Council) of the Ejido to determine the next assembly date, which will likely occur in October.

“Ejido processes often take more than one assembly to conclude, and that is the path we have always planned for. Our engagement remains strong as the Ejido moves to reconvene.” said Colin Sutherland, President and Chief Executive Officer of Apollo Silver.

A first assembly on matters of this nature requires attendance by at least 50% plus one of the Ejido’s registered membership. Because the first assembly did not proceed, Mexican law permits the Ejido to call a second assembly, at which the 50% plus one attendance threshold does not apply and resolutions may be adopted by a simple majority of the ejidatarios in attendance, regardless of the number present, rather than by a majority of the Ejido’s total registered membership. This two-stage sequence is routine and applies generally to matters of this kind and is not specific to the Company or the Project.

The Company is not a participant in the assembly or its voting process, and respects that this is a matter for the community to decide. The Company’s future activities will continue to be guided by the results of the vote, together with applicable regulatory approvals and its ongoing engagement with the community.

About Cinco de Mayo

Cinco de Mayo is an approximate 25,000-hectare property located in the north central part of Chihuahua State, Mexico, approximately 190 kilometres northwest of the state capital of Chihuahua City in the Municipio de Buenaventura. The Project is prospective for and hosts carbonate replacement type deposits including the Upper Manto Pb-Zn-Ag (Au) deposit, which consists of two parallel and overlapping manto deposits referred to as the Jose Manto and the Bridge Zone. An independent technical report and Mineral Resource estimate on the Upper Manto deposit was prepared in 2012 by Rosco Postle and Associates. At a NSR cut-off of US$100/t, Inferred MRE was estimated to total 12.45 million tonnes at 132 grams per tonne silver, 2.86 per cent (“% Pb”) lead and 6.47 %t zinc and 0.24 g/t (See Apollo Silver’s news release dated March 7, 2025). The total contained metals in the historical resource were 52.7 million ounces of Ag, 785 million pounds of Pb, 1,777 million pounds of Zn and 96,000 ounces of Au. See cautionary statement below.

A potential new discovery, the Pegaso Zone was drilled in 2012 and consists of 61.6 metres of massive sulphide intersected in drill hole CM-12-431, below and to the east of the Upper Manto deposit. The Pegaso Zone was not included in the 2012 Historical MRE and is considered a high-priority target with the potential to represent a significant new discovery. The notable intercept returned 349 g/t AgEq over 61.60 m from 927 m downhole including 89 g/t Ag, 0.78 g/t Au, 0.13% Cu, 2.1% Pb and 7.3% Zn (refer to MAG Silver news release dated July 18, 2012) The Company’s initial review of historical data suggests that the Pegaso Zone could indicate a larger and higher-grade resource at depth.

About Apollo Silver Corp.

Apollo Silver Corp. is a mineral exploration and development company advancing the Calico Silver Project in San Bernardino County, California, and holds an earn-in interest in the Cinco de Mayo Project in Chihuahua, Mexico. The Company is listed on the TSX Venture Exchange under the symbol APGO, on the OTCQB under the symbol APGOF and on the Frankfurt Stock Exchange under the symbol 6ZF.

Qualified Person

The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo’s Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a QP as defined by NI 43-101 and is not independent of the Company

ON BEHALF OF THE BOARD OF DIRECTORS

Colin Sutherland
President and CEO

For further information, please contact:

Email: info@apollosilver.com
Telephone: +1 (604) 428-6128

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.