Silver Added to USGS 2025 List of Critical Minerals

Executive Summary

• The U.S. Department of the Interior added silver (along with nine other minerals) to the 2025 USGS List of Critical Minerals, marking the first time silver is recognized for its growing importance to U.S. economic and national security.
• Apollo Silver expects the designation to boost investor attention, strengthen the case for inclusion in the Fast‑41 permitting streamlining program, and enhance the strategic profile of its Calico Silver Project – the second‑largest primary silver deposit in the United States.
• The announcement coincides with Apollo’s recently updated Mineral Resource Estimate (MRE) for Calico: Measured & Indicated 55 Mt at 71 g/t Ag (~125 Moz) and Inferred 17.6 Mt at 71 g/t Ag (~58 Moz).

Key Details

• Critical Minerals List Inclusion: Silver is now listed among ten critical minerals by the USGS for 2025, signaling heightened government focus on domestic supply chain security, permitting incentives, subsidies, and strategic stockpiling.
• Strategic Implications for Apollo:
• Potential eligibility for the Fast‑41 program, which expedites permitting for projects involving critical minerals.
• Anticipated increase in investor interest and market visibility for the Calico Project.
• Calico Project Resource Update (referenced):
• Measured & Indicated: 55 Mt @ 71 g/t Ag = ~125 Moz Ag.
• Inferred: 17.6 Mt @ 71 g/t Ag = ~58 Moz Ag.
• Quote from CEO: Ross McElroy, President and CEO, highlighted that the designation “will not only bring increased investor attention to the sector but will also help boost Apollo's profile of its Calico Silver Project.”
• Qualified Person: Isabelle Lépine, M.Sc., P.Geo., Director, Mineral Resources (registered professional geologist, QP under NI 43‑101).

Notable Quotes

“Apollo Silver welcomes the US government’s efforts to strengthen domestic silver mining by placing silver on the USGS List of Critical Minerals… This development will not only bring increased investor attention to the sector but will also help boost Apollo's profile of its Calico Silver Project.” – Ross McElroy, President & CEO.