Silver stock Apollo Silver (TSX.V:APGO) (OTCQB:APGOF) Files NI 43-101 Technical Report for the Calico Silver Project Updated Mineral Resource Estimate

VANCOUVER, British Columbia, (
www.investorideas.com
Newswire) Breaking mining stock news- Apollo Silver Corp. (TSX.V:APGO) (OTCQB:APGOF) (Frankfurt:6ZF) is pleased to announce that it has
filed the independent technical report for the updated Mineral
Resource Estimate (“MRE”) for the Calico Silver Project
(“Calico” or the “Calico Project”).

The report titled “NI 43-101 Technical Report and Mineral
Resource Estimate for the Calico Silver Project, San Bernardino
County, California, USA”, is dated October 16, 2025 (with an
effective date of June 30, 2025) (the “Technical Report”).
The Technical Report is available under the Company’s issuer
profile on SEDAR+ (www.sedarplus.ca) and on the Company’s
website (www.apollosilver.com).

The Technical Report was prepared in accordance with National
Instrument 43-101 (“NI 43-101”) Standards of Disclosure
for Mineral Projects by Stantec Consulting Ltd.
(“Stantec”) of Denver, Colorado. There are no material
differences in the Technical Report from those results disclosed in
the Company’s press release dated September 4, 2025.

Highlights of the MRE announced on September 4, 2025,
include:

• 
  New combined Measured and Indicated total of 55 million tonnes
  (“Mt”) at a grade of 71 grams per tonne
  (“g/t”) silver (“Ag”) for a total of 125
  million ounces (“Moz”) Ag (1)(2)
• 
  61% increase in tonnage and a 14% increase in Ag ounces representing
  an increase of 15 Moz contained Ag
• 
  Inferred total of 0.6 Mt at a grade of 26 g/t Ag for a total of 0.51
  Moz contained Ag (1)(2)
• 
  Inaugural barite (“BaSO4”) and zinc (“Zn”)
  resources are estimated as:
• 
  Indicated: 36 Mt @ 7.4% BaSO4 and 0.45% Zn for a total content of
  2.7 Mt BaSO4 and 354 million pounds (“Mlbs”) Zn (1)(2)
• 
  Inferred: 17 Mt @ 3.9% BaSO4 and 0.71% Zn for a total content of
  0.65 Mt BaSO4 and 258 Mlbs Zn (1)(2)
• 
  Gold (“Au”) ounces have increased by 86% in the Inferred
  category for a new total of 17 Mt at a grade of 0.25 g/t Au and
  total Au content of 0.13 Moz (1)(2)
• 
  One single pit for all metals at the Waterloo deposit with a low
  strip ratio of 0.8:1
• 
  Updated Langtry MRE now includes 24 million tonnes at a grade of 73
  g/t Ag for a total Ag content of 57 million ounces (1)(3)
• 
  The increased quantities of Ag and Au, the addition of two new
  critical minerals, and the larger single pit with low strip ratio
  have derisked the Calico Project
• 
  Sensitivity analyses show resiliency of the Ag resource to changes
  in metal price
• Significant growth opportunities remain

(1) The 2025 MRE has been prepared by Derek Loveday, P. Geo., of
Stantec Consulting Services Ltd., an independent Qualified Person, in
co-operation with Mariea Kartick, P.Geo. (independent Qualified Person
for drilling data QA/QC) and Johnny Marke P.G. (independent Qualified
Person for resource estimation). CIM definitions are followed for
classification of the mineral resource. The 2025 MRE was produced in
conformance with NI 43-101. The 2025 mineral resource estimate has an
effective date of June 30, 2025. Ounces are reported as troy ounces.
No drilling was completed on the Waterloo Property and Langtry
Property since the declaration of the 2023 MRE for Waterloo and 2022
MRE for Langtry. The 2025 MRE update accounts for changes in commodity
prices, mining costs since 2022/2023, and barite testing of existing
drill samples from the Waterloo Property. Mineral resources are not
mineral reserves and do not have demonstrated economic viability.
There is no certainty that any mineral resource will be converted into
a mineral reserve. 

(2) For the Waterloo Property, a silver equivalent cut-off grade was
calculated using the following variables: surface mining operating
costs (US$2.8/st), processing costs plus general and administrative
cost (US$26.5/st), Ag price (US$28/oz), BaSO4 price (US$120/t), Zn
price (US$1.22/lb), Au price (US$2,451/oz), and metal recoveries (Ag
65%, Au 80%, BaSO4 85%, Zn 80%). For the Waterloo Property gold-only
resources the Au cut-off grade was calculated using the above Au
price, Au recovery and gold-only processing costs plus general and
administrative cost (US$8.2/st).

(3) For the Langtry Property, a silver-only equivalent cut-off grade
was calculated using the aforementioned Ag price, Ag recovery and
silver-only processing costs plus general and administrative cost
(US$24/st).

The 2025 MRE for the Waterloo Property comprises 125 Moz Ag in 55 Mt
at an average grade of 71 g/t Ag (M&I categories), 0.51 Moz Ag in
0.60 Mt at an average grade of 26 g/t Ag (Inferred category), 130,000
oz gold in 17 Mt at an average grade of 0.25 g/t gold (Inferred
category), 2.7 Mt BaSO4 and 354 Mlbs Zn in 36 Mt at an average grade
of 7.4 % BaSO4 and 0.45 % Zn (Indicated category), and 0.65 Mt BaSO4
and 258 Mlbs Zn in 17 Mt at an average grade of 3.9 % BaSO4 and 0.71 %
Zn (Inferred category). The 2025 MRE for the Langtry Property
comprises 57 Moz Ag in 24 Mt at an average grade of 73 g/t Ag
(Inferred category).

ABOUT THE CALICO PROJECT

Location

The Calico Project is located in San Bernardino County, California,
and comprises the adjacent Waterloo, Langtry and Mule properties,
which total 8,283 acres. The Calico Project is 15 km (9 miles) east
from the city of Barstow, 5 km (3 miles) from commercial electric
power and has an extensive private gravel road network spanning the
property.

Geology and Mineralization

The Calico Project is situated in the southern Calico Mountains of the
Mojave Desert, in the south-western region of the Basin and Range
tectonic province. This 15 km (9 mile) long northwest-southeast
trending mountain range is dominantly composed of Tertiary (Miocene)
volcanics, volcaniclastics, sedimentary rocks and dacitic intrusions.
Mineralization at Calico comprises high-level low-sulfidation
silver-dominant epithermal vein-type, stockwork-type and
disseminated-style associated with northwest-trending faults and
fracture zones and mid-Tertiary (~19-17 Ma) volcanic activity. Calico
represents a district-scale mineral system endowment with
approximately 6,000 m (19,685 ft) in mineralized strike length
controlled by the Company. Silver and gold mineralization are oxidized
and hosted within the sedimentary Barstow Formation and the upper
volcaniclastic units of the Pickhandle formation along the contact
between these units.

Qualified Person

The scientific and technical data contained in this news release was
reviewed, and approved by Derek Loveday, P.Geo., Johnny Marke P.G. and
Mariea Kartick, P.Geo., from Stantec and are Qualified Persons
independent of the Company. Mr. Loveday is a registered Professional
Geoscientist in Alberta, Canada, and Mr. Marke is a registered
Professional Geologist in Oregon, USA and both are responsible for the
mineral resource estimation. Ms. Kartick is a registered Professional
Geoscientist in Ontario, Canada, and is responsible for data QA/QC.

This news release has also been reviewed and approved by Isabelle
Lépine, M.Sc., P.Geo., Apollo’s Director of Mineral
Resources. Ms. Lépine is a registered Professional Geoscientist
in British Columbia, Canada, and is not independent of the Company.

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 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 TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.

Please visit
www.apollosilver.com
for further 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 with respect to
the potential of the Calico Project and its overall investment
attractiveness; the expectation that the Calico Project will continue
to increase in value, scale and optionality; the potential economic
significance of the updated mineral resource estimate, including the
newly defined barite and zinc resources in addition to silver and
gold; the potential recovery rates; the potential to further expand
the resource estimate and upgrade its confidence level, including
prospective silver, gold, barite and zinc mineralization on strike and
at depth; the potential impact of barite and zinc being designated as
critical minerals in the United States; assumptions regarding
mineralization at shallow depths and strip ratios; timing and
execution of future planned drilling, exploration, preliminary
engineering and additional metallurgical activities; timing of
commencement and completion of a preliminary economic assessment or
other technical studies; the potential for additional discoveries,
overall project development and other growth opportunities; and the
Company’s ability to advance, develop, and permit the Calico
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 have caused 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 Calico 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 zinc and barite; the demand for
silver, gold, zinc 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 matter; 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.

Apollo Silver Corp. (TSX: APGO.V) (OTCQB:APGOF) (Frankfurt:6ZF0) is a
featured mining stock on Investorideas.com

More info on APGO at Investorideas.com Visit:
https://www.investorideas.com/CO/APGO/