Apollo Silver Announces CEO Transition; Colin Sutherland Appointed President and CEO
Apollo appoints a new CEO with finance expertise as the Calico project advances toward a PEA and drilling in Q3 2026.
Apollo Silver Corp. announced a leadership transition effective July 15, 2026, with Ross McElroy stepping down as President and CEO and resigning from the Board. Colin P. Sutherland, CPA, CA, has been appointed as the new President and CEO. Sutherland brings over two decades of experience in mining finance, capital markets, and operations, with prior roles at Capital Gold Corporation, Nayarit Gold, and McEwen Mining.
The Board granted incentive stock options (250,000 shares at $2.52 exercise price) and deferred share units (100,000 DSUs) to an officer and a director under the Omnibus Incentive Plan.
This follows a clear progression of company milestones: multiple private placements totaling ~$54M raised in late 2025 and early 2026, inclusion of silver on the USGS critical minerals list, acquisition of the Athena claims, initiation of the Calico PEA with SLR Consulting, and high-grade surface sampling results in May 2026. Drilling has been rescheduled to Q3 2026 due to permitting and seasonal heat constraints.
Apollo Silver Corp. (APGO) has appointed a new CEO with a strong background in capital markets and mergers and acquisitions, a move strategically aligned with the company's transition from pure exploration toward economic evaluation, potential capital raises, and strategic partnerships. This development follows the securing of substantial financing and the advancement of technical studies.
The appointment is expected and incremental to the company's development roadmap, introducing no new project data, financial results, or immediate operational changes. Apollo Silver’s stock price has already corrected significantly from its January 2026 highs, effectively pricing in this transition. The market is likely to view the leadership change as a positive long-term structural adjustment, as the new CEO’s expertise is better suited for navigating the completion of the Preliminary Economic Assessment (PEA), permitting, and future financing rounds rather than day-to-day exploration.
Apollo Silver Corp. is a mineral exploration company advancing the Calico Silver Project in San Bernardino County, California, and holding an option on the Cinco de Mayo Project in Chihuahua, Mexico.
Calico hosts one of the largest undeveloped primary silver resources in the U.S., with a 2025 Mineral Resource Estimate of 125 million ounces Ag in Measured & Indicated categories (55 Mt @ 71 g/t Ag) and 58 million ounces Ag in Inferred. The resource also includes significant barite (2.7 Mt indicated) and zinc (354 Mlbs indicated) credits, plus inferred gold.
The project is in the exploration and resource definition stage, with baseline permitting initiated in 2021. The company has completed geophysical surveys, acquired additional land (Athena claims), and engaged SLR Consulting for the PEA.
Cinco de Mayo is a historic carbonate replacement deposit with high-grade silver, gold, zinc, and lead, but development is contingent on securing social license with local Ejido stakeholders.