Apollo Silver intitiates PEA for Calico Project

Apollo Silver (APGOF) announced that it has engaged SLR Consulting to lead a Preliminary Economic Assessment on the Company’s Calico Silver Project, located in San Bernardino County, California. The Project hosts one of the largest undeveloped primary silver deposits in the United States. In parallel with the PEA, Apollo Silver will advance metallurgical and geotechnical programs designed to further refine the Company’s technical understanding of the Project as it progresses forward on the development path. The Company has engaged SLR as advisors to assist in managing the geotechnical and metallurgical investigations required to support the mine development plan. Highlights PEA Initiated: SLR engaged to conduct a PEA at Calico. Additional Technical Support: SLR will also provide on-going metallurgical and geotechnical advisory support for additional development engineering analysis at Calico as the Company continues to advance the Project. Exploration Work: Precision GeoSurveys US has recently completed a high-resolution airborne magnetic and radiometric survey covering ~632-line km, designed to support geological interpretation, future exploration, and drill targeting. Ross McElroy, President and CEO of Apollo Silver, commented, “The initiation of the PEA marks an important milestone in advancing the Calico Project on the development path. This study will evaluate potential mining and processing scenarios for the significant mineral resources identified at the Project. Engaging SLR to lead the PEA, while also supporting our on-going metallurgical and geotechnical programs, is expected to strengthen our technical understanding of the Project to support further project development on the path to Calico becoming a future producer. At the same time, our exploration activities continue to ramp up, as highlighted by the recently completed airborne geophysical survey. We believe that the Calico Project has excellent potential for further significant discoveries, and that a systematic, multi-faceted exploration approach beginning with the surficial lithologic and structural mapping and complemented by the regional geophysics survey that are now completed, is key to unlocking that potential.”