Apollo Silver Corp. provided an update on its 2022 Drilling Program that is currently underway at its Calico Silver Project located in San Bernardino County, California. The 2022 Drilling Program is one component of the multi-component 2022 Calico Technical Program that aims to upgrade and expand the recently announced Inferred Mineral Resource Estimate (“MRE”) of 166 million ounces (“Moz”) of silver contained in 58.1 million tonnes (“Mt”) at an average grade of 89 grams per tonne (“g/t”).

The 2022 Drilling Program comprises a planned 15,000 m (49,213 ft) of drilling using RC and diamond core drilling methods. Approximately 10,000 m (32,808 ft) of RC drilling and 5,000 m (16,404 ft) of diamond drilling are planned. RC drilling is being completed by Cooper Drilling LLC, of Monte Vista, Colorado.

The program is designed to add value to the current MRE through the following activities: Update the confidence of the current MRE through: Acquiring high-quality geotechnical, rock properties, geochemical and lithological information. Geotechnical, rock properties and lithological information will be acquired using both optical televiewer surveying, traditional logging methods and detailed petrography. Infill drilling.

Objective: upgrade the confidence in the MRE. Expand the current MRE through: Confirming and expanding historic bonanza grade silver intercepts (+1,000 g/t). Targeting shallow silver ounces by drilling untested Barstow Formation along strike and down dip.

Objective: add additional high value silver ounces to the resource. Quantify MRE mineral inventory through: Testing the gold-mineralized Barstow-Pickhandle lithologic contact. Quantifying the barite content.

Objective: quantify the by-product credits that may be included in the resource update.