Apollo Silver Corp. announced that it has received its Conditional Temporary Use Permit from the County of San Bernardino ("the County") authorizing 2024 drilling activities at the Waterloo Silver-Barite Property. Results from the 2024 assay testing program have been received and are being used to define planned barite assaying as part of declaring a maiden barite resource estimate at Waterloo.

2024 Drill Permit for the Waterloo Property received from the County; and Barite analysis test program completed. Results will be incorporated into preparation for maiden barite resource estimates at Waterloo. As reported on January 24, 2024, the Company began a test program designed to determine the optimal assay technique for barite.

Using 79 samples distributed across the Waterloo Property, barite concentration was analysed to determine the best method to assay for barite. Results of this test work have been received and enable, a comprehensive re-assay program of select drilling pulps to be planned, with the goal of updating the Waterloo mineral resource estimate with the addition of barite. In 1979 ASARCO calculated an estimate of barite in the Waterloo deposit.

This historic resource estimate for silver has been superseded by the Calico Silver Project current mineral resource estimate, announced March 6, 2023. There is no current resource estimate for barite.