APGOF) Announces Return of Tom Peregoodoff as Board Nominee and Prospective Executive Chair

Mr. Peregoodoff brings more than 30 years of experience in the
natural resources sector, including senior leadership roles in
corporate development, capital markets, and project advancement. He
previously served as President and Chief Executive Officer of Apollo
Silver and was formerly President and Chief Executive Officer of
Peregrine Diamonds Ltd., where he oversaw the advancement of the
Chidliak diamond project in Nunavut prior to its acquisition by De
Beers Canada. Mr. Peregoodoff has also held executive and board
roles with a number of publicly listed mining companies, including
18 years with global mining company BHP, and brings extensive
experience in corporate strategy, financings, mergers and
acquisitions, and governance across the exploration and development
lifecycle.

Following the annual general meeting of shareholders, Andrew
Bowering, founder and a significant shareholder of the Company, will
step down as Chair and continue as a Director, remaining actively
engaged at the Board level.

Mr. Bowering commented, “I am very pleased to see Tom return
to an executive leadership role at Apollo Silver. His deep
understanding of the Company, combined with his experience in
building and leading mining companies, makes him exceptionally well
suited to serve as Executive Chair. With a strong Board and
management team in place, I look forward to continuing to support
Apollo Silver as a Director and significant shareholder, as the
Company moves into its next phase of development.”

Mr. Peregoodoff stated, “I am honoured to return to an
executive leadership role with Apollo Silver at such an important
stage in the Company’s evolution. I would also like to thank
Andy for his leadership and vision as founder, which have been
instrumental in establishing Apollo Silver’s asset base and
positioning the Company for continued advancement. I look forward to
working closely with the Board and management team to advance the
Calico and Cinco de Mayo projects and support the disciplined
execution of Apollo Silver’s strategy.”

Concurrent with Thomas Peregoodoff’s appointment as Executive
Chair, Steven Thomas, the Company’s current Audit Committee
Chair, will assume the role of Lead Independent Director, providing
independent leadership to the Board and acting as a key liaison
between the independent directors and management.

ABOUT APOLLO SILVER CORP.

Apollo Silver is advancing the second 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 U.S.
energy, industrial 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 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

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.

Cautionary Statement Regarding “Forward-Looking”
Information

This news release includes “forward-looking statements”
and “forward-looking information” within the meaning of
Canadian securities legislation. All statements included in this
news release, other than statements of historical fact, are
forward-looking statements including, without limitation, statements
regarding the anticipated election of the proposed nominee to the
Company’s Board, the intended appointment of an Executive
Chair, the expected impact of leadership changes on the
Company’s governance and strategic execution, and the
advancement and development of the Company’s projects,
including the Calico Project and the Cinco de Mayo Project.
Forward-looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of
words such as “anticipate”, “believe”,
“plan”, “estimate”, “expect”,
“potential”, “target”, “budget”
and “intend” and statements that an event or result
“may”, “will”, “should”,
“could” or “might” occur or be achieved and
other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions,
estimates, analysis, and opinions of the management of the Company
made in light of its experience and its perception of trends,
current conditions and expected developments, as well as other
factors that management of the Company believes to be relevant and
reasonable in the circumstances at the date that such statements are
made. Forward-looking information is based on reasonable assumptions
that have been made by the Company as at the date of such
information and is subject to known and unknown risks, uncertainties
and other factors that may cause actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: risks associated with
mineral exploration and development; metal and mineral prices;
availability of capital; accuracy of the Company’s projections
and estimates; realization of mineral resource estimates, interest
and exchange rates; competition; stock price fluctuations;
availability of drilling equipment and access; actual results of
current exploration activities; government regulation; political or
economic developments; environmental risks; insurance risks; capital
expenditures; operating or technical difficulties in connection with
development activities; personnel relations; and changes in project
parameters as plans continue to be refined. Forward-looking
statements are based on assumptions management believes to be
reasonable, including but not limited to the price of silver, gold
and barite; the demand for silver, gold and barite; the ability to
carry on exploration and development activities; the timely receipt
of any required approvals; the ability to obtain qualified
personnel, equipment and services in a timely and cost-efficient
manner; the ability to operate in a safe, efficient and effective
manner; and the regulatory framework regarding environmental
matters, and such other assumptions and factors as set out herein.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove
to be accurate and actual results, and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
information contained herein, except in accordance with applicable
securities laws. The forward-looking information contained herein is
presented for the purpose of assisting investors in understanding
the Company’s expected financial and operational performance
and the Company’s plans and objectives and may not be
appropriate for other purposes. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.