Apollo Continues to Strengthen Management Team and Provides El Indio Project Update

Apollo Gold & Silver Corp.

(“

Apollo

” or the “

Company

") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF) is pleased to announce that Mr. Chris Cairns has been appointed as Chief Financial Officer, effective September 7, 2021.

Mr. Cairns, a Canadian Chartered Professional Accountant (CPA, CA), is currently the CFO for Cordoba Minerals Corp., a Colombian precious metal explorer. In addition to his role as CFO for Cordoba, Chris has been the Corporate Controller for Kaizen Discovery Inc., a Peruvian copper explorer, since 2015. He brings significant experience in financial reporting, governance and the capital markets sector. Prior to joining Cordoba and Kaizen, Mr. Cairns obtained his CPA, CA while working in PwC’s audit and assurance practice with a primary focus on publicly-listed international mining and exploration companies in Canada, the United States and Mongolia.

Commenting on Chris’s appointment, Apollo CEO, Tom Peregoodoff said, “I am pleased that Chris has joined us and I am excited to be working with him again. His experience in cross-border financial and entity management will be a great addition to Apollo. I would also like to thank Daryn Gordon, outgoing CFO, for his support during our transformation and look forward to his continued contribution as a director.”  

El Indio Project

As announced on April 1, 2020, the Company entered into an agreement with Lithium Chile Inc., and Compania Minera Kairos Chile Limitada, giving the Company the option to earn up to a 90% interest in two early-stage exploration properties in the El Indio Gold Belt of central Chile. As a result of the recently announced amalgamation with Stronghold Silver and the resultant change in strategy and focus, the Company has served notice that it is terminating the option agreement.

About Apollo Gold and Silver Corp.

Apollo Gold and Silver Corp. has assembled an experienced and technically strong leadership team who have joined to advance world class precious metals projects in tier-one jurisdictions. The Company is focused on advancing its portfolio of three significant pure silver exploration and resource development projects: the historical Waterloo and Langtry Projects, in San Bernardino California and the Silver District Project in Arizona.

ON BEHALF OF THE BOARD OF DIRECTORS

Tom PeregoodoffChief Executive Officer

For further information, please contact:

Tom PeregoodoffChief Executive Officer Telephone: +1 (604) [e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will”, “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “appear”, “should,” and similar expressions, are forward-looking statements.

Although Apollo Gold and Silver Corp. has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.