Apollo welcomes silver as critical mineral in U.S.

Executive Summary

• The U.S. Department of the Interior added silver to the USGS 2025 list of critical minerals, marking the first time silver has been recognized for its growing importance to U.S. economic and national security.
• This designation signals enhanced government focus on securing domestic supply chains through improved permitting, subsidies, and strategic stockpiling, with the U.S. currently importing 64% of its silver consumption.
• Apollo Silver Corp. views this as a strategic advantage for its Calico project, which hosts the second-largest primary silver deposit in the U.S., potentially strengthening its case for the Fast-41 permitting program.

Key Details

• Regulatory Action: Silver added to the USGS 2025 List of Critical Minerals by the U.S. Department of the Interior.
• Strategic Implications: The inclusion highlights silver's irreplaceable role in industrial and defense industries and may lead to streamlined permitting (Fast-41 program), subsidies, and stockpiling initiatives.
• Supply Context: The U.S. imported 64% of its silver consumption in 2024, emphasizing the strategic value of domestic production.
• Apollo Silver's Calico Project Metrics:
  • Measured and Indicated Resource: 55 million tonnes at 71 grams per tonne silver (g/t Ag), totaling 125 million ounces of silver.
  • Inferred Resource: 17.6 million tonnes at 71 g/t Ag, totaling 58 million ounces of silver.
  • Location: San Bernardino County, California.
  • Significance: Hosts the country's second-largest primary silver deposit in the U.S.
• Company Portfolio: Apollo Silver also holds an option on the Cinco de Mayo project in Chihuahua, Mexico, described as a major carbonate replacement deposit with high grade and large tonnage.

Notable Quotes

• "Apollo Silver welcomes the U.S. 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 project... The inclusion of silver on the critical minerals list strengthens the project's case for consideration under the Fast-41 program." — Ross McElroy, President and CEO, Apollo Silver Corp.