Apollo Silver hires SLR Consulting for Calico PEA

Executive Summary

• Apollo Silver Corp. has engaged SLR Consulting to lead a Preliminary Economic Assessment (PEA) for its Calico silver project in California, marking a critical milestone in advancing the asset toward production.
• SLR will concurrently provide ongoing metallurgical and geotechnical advisory services to refine technical understanding, optimize processing flow sheets, and support mine development planning.
• The company completed a high-resolution airborne magnetic and radiometric survey covering ~632 line km to support geological interpretation, compare property signatures, and generate future drill targets.

Key Details

• PEA Engagement: SLR Consulting (Canada) Ltd. appointed to conduct the Preliminary Economic Assessment, evaluating potential mining and processing scenarios for the project's identified mineral resources.
• Geotechnical Advisory Scope: SLR to provide technical oversight including site investigation planning, geotechnical logging/lab testing guidance, desktop gap analysis, and QA/QC supervision of third-party geotechnical work.
• Metallurgical & Processing Advisory: SLR to support test work and process evaluation at the Waterloo deposit, including program design, sample selection, laboratory test work planning, result interpretation, and processing flow sheet evaluation/recovery estimation.
• Airborne Survey Completion: Precision GeoSurveys U.S. Inc. completed a high-resolution airborne magnetic and radiometric survey covering ~632 line km at 50-metre line spacing across the Waterloo and Mule properties.
• Survey Objectives: Collect high-resolution geophysical data, compare radiometric signatures between Waterloo and Mule properties, evaluate geological signatures associated with known Waterloo mineralization at Mule, and generate/refine potential drill targets.
• Silver Resource Estimate (2025):
• Measured & Indicated: 55 million tonnes at 71 g/t Ag for 125 million ounces of silver.
• Inferred: 25 million tonnes at 71 g/t Ag for 58 million ounces of silver.
• Critical Minerals Resources:
• Barite: 2.7 million tonnes indicated (7.4% grade) and 650,000 tonnes inferred (3.9% grade).
• Zinc: 354 million lbs indicated (0.45% grade) and 258 million lbs inferred (0.71% grade).
• Project Tenure & Location: Located in San Bernardino County, California (~9 miles NE of Barstow); comprises 525 mineral claims (Langtry, Waterloo, Mule properties) totaling 8,419 acres, with the majority on private land holding vested mining rights.
• Qualified Person: Isabelle Lepine, MSc, PGeo (Director, Mineral Resources), reviewed and approved all scientific and technical data per NI 43-101 standards.

Notable Quotes

• Ross McElroy, President & CEO: "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."
• Ross McElroy: "Engaging SLR to lead the PEA, while also supporting our ongoing 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."
• Ross McElroy: "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, multifaceted exploration approach... is key to unlocking that potential."