Apollo Terminates Investor Relations Agreement

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VANCOUVER, British Columbia, February 25, 2022 (GLOBE NEWSWIRE) — Apollo Silver Corp. (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) (“Apollo“or the”Company”)) announces that it has terminated its engagement with Future Money Trends LLC (“FMT”), effective immediately, as the Company was unable to receive approval for its engagement from the TSX Venture Exchange (“TSXV”). Because the investor relations agreement with FMT was terminated prior to the end of the term of the agreement, the Company demanded that FMT return a prorated portion of the total payment of USD 1,100,000.

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As announced on July 21, 2021, the Company has entered into an agreement with FMT dated July 19, 2021 to raise awareness of the Company and its projects with potential investors. The Company advises that the consideration of $91,750 per month payable to FMT over the 12-month term of the agreement was settled by way of an upfront payment of $1,100,000 (which payment was made on July 26, 2021 ). The Company also specifies that a subsidiary of FMT, Wallace Hill Partners Ltd. (“Wallace Hill”), had purchased 750,000 units at $0.75 per unit for proceeds of $562,500 as part of the Company’s private placement financing completed on July 6, 2021. FMT indirectly held securities of the Company through Wallace Hill as of the July 21, 2021 press release date, which was previously undisclosed.

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The Company continues to evaluate third-party service providers to increase brand and product awareness. The engagement of such parties will be subject to the prior approval of the TSXV.

ON BEHALF OF THE BOARD OF DIRECTORS

Tom Peregoodoff
Chief Executive Officer

For more information, please contact:

Tom Peregoodoff
Chief Executive Officer
Phone: +1 (604) 428-6128
tomp@apollosilver.com

About Apollo Silver Corp.

Apollo Silver Corp. assembled an experienced and technically sound management team that came together to advance world-class precious metals projects in leading jurisdictions. The Company is focused on advancing its portfolio of two significant silver resource exploration and development projects, the Calico Silver Project, San Bernardino, California, and the Silver District Project, Arizona.

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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.

Caution regarding “forward-looking” information

Statements contained in this press release that are forward-looking statements are subject to various risks and uncertainties regarding the specific factors disclosed here and elsewhere in the Company’s periodic filings with Canadian securities regulators. When used in this press release, words such as “will”, “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “appears”, “should”, and similar expressions, are forward-looking statements. Although Apollo Silver Corp. has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results, performance or achievements are not as expected. , estimated or predicted. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates regarding future developments, circumstances or results will materialize. Due to these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.