Apollo Applies to Amend Warrant Terms

VANCOUVER, British Columbia, May 23, 2023 (Globe Newswire) — Apollo Silver Corp. (“Apollo” or “company”) (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF0) is a TSX Venture Exchange (”TSXV”) 35,266,667 common stock acquisition rights (“warrantThe Company is proposing to extend the expiry date of the warrants from July 8, 2023 to July 8, 2026 and to re-pricing the third and fourth warrant strike prices. $0.79 for the fifth year of the modified warrant period (“Amended Terms”).

This warrant is subject to the Warrant Agreement dated July 6, 2021 (“Warrant contractBetween the Company and Endeavor Trust Co., Ltd. (hereinafter “warrant agent”). Pursuant to the warrant agreement, the warrant holder may agree to amend the terms of the warrant by special resolution. means a resolution proposed at a conference and passed by at least two Warrantholders present in person or on behalf of them, representing at least 25% of the total number of Warrants outstanding. holder’s yes vote2/3% of the total number of all then-outstanding Warrants that attended the meeting and voted on the ballot on such a resolution. The Company has requested the Warrant Agents to convene a Warrantholders Meeting to vote on an extraordinary resolution approving the revised terms.

Please come www.apollosilver.com for more information.

On behalf of the Board of Directors

Tom Peregudoff
chief executive officer

for further away information, please contact:

Tom Peregudoff
chief executive officer
Phone: +1 (604) 428-6128

almost Apollo Silver Ltd.

Apollo Silver Corp. has assembled an experienced and technically strong leadership team to participate in driving world-class precious metal projects in Tier 1 jurisdictions. The Company is focused on advancing a portfolio of two significant silver exploration and resource development projects: the Calico Silver Project in San Bernardino County, California and the Silver District Project in La Paz County, Arizona.

do not have of TSX venture exchange or this is regulation service provider (as or semester teeth defined of TSX Venture Exchange Policy) is not responsible for the appropriateness or accuracy of this release.

Note statement about it “forward” information

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of the Canadian securities laws. Forward-looking statements include forecasts, projections, prospects and often are not forecasts. everytime, Identified To of use of words like that As “Predict”, “believe”, “plan”, “estimate”, “Predict”, “potential”, “Goals”, “Budgets”, “Intents”, and any statements that events or results “may”, “will”, “should”, “may” or “may be achieved”. and other similar expressions and negation thereof. . Statements in this document that are not purely historical are forward-looking statements, including statements regarding our beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include requests for repricing and extensions to certain common stock acquisition rights.

Forward-looking statements are based on: reasonable assumptions, Our management’s estimates and analyzes made in light of our management’s experience and trends, our perception of current and anticipated developments, and other factors that our management considers reasonable in relation to the current circumstances; and opinions. The date on which such statement was made. Forward-looking information is based on reasonable assumptions made by the Company as of the date of such information and is subject to known and unknown risks and uncertainties that may have caused actual results, levels of activity, performance and achievements. gender and other factors. our information materially differs from that expressed or implied by such forward-looking statements; but but not limited to: risks associated with mineral exploration and development; Prices of metals and minerals. Availability of capital. the accuracy of our forecasts and estimates; Realization of mineral resource estimates, interest rates and exchange rates. competition; stock price fluctuations; Availability of drilling equipment and access. Actual results of current exploration activities. government regulation. political or economic development. environmental risk. insurance risk. capital expenditures; operational or technical issues related to development activities; Personnel relations. Disputes over ownership of property.Change project parameters As schedule Continue To Become Sophisticated; and impact of of COVID-19 Pandemic. of estimate of mineral resources Become materially to be influenced To environment, To give permission, legal, title, taxation, political, social, marketing, again other related issues. The amounts and grades of the Inferred Mineral Resources reported in this estimate are inherently uncertain and have in the meantime insufficient expedition To definition these are Guessed mineral resources As of shown again measured Mineral Resources and it is unknown whether further exploration will upgrade them to the Mineral Resources category labeled or measured. Forward-looking statements are based on the following assumptions that management believes to be reasonable: but no exclusive To of price of Silver, Money and barite; of request for Silver, Money and barite; of ability to Continue exploration and development activities. Receive required approvals in a timely manner. Ability to obtain qualified personnel, equipment and services in a timely and cost-effective manner. Ability to perform work safely, efficiently and effectively. The regulatory framework for environmental issues and other assumptions and factors described herein. Although we have attempted to identify important factors that could cause our actual results to differ materially from those contained in forward-looking statements, there may be other factors that could cause our results to differ. . no To Become As is expected, Estimate again was intended. there is can Become no guarantee or Positive statement have turned out to be accurate and actual results and future events may differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking information contained herein, except as provided below. of match and Applicable Securities law. of Positive information include here teeth Presented in order to the purpose of support Investor of Understanding of Company’s Be expected Finance and operational performance and the Company’s schedule and the goal and in May no Become appropriate for other the purpose. of company do no We undertake to update forward-looking information, except in accordance with applicable securities laws.

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