Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE:6ZF0) is a silver-focused exploration company advancing a dual-asset strategy through two high-potential projects in North America: the Calico Silver Project in California, USA, and the Cinco de Mayo project in Chihuahua, Mexico. Both projects are situated in mining-friendly jurisdictions with robust infrastructure and a history of significant exploration work.
At Calico, Apollo Silver advances the Waterloo deposit through geological modeling, barite resource definition, and engineering studies. Calico hosts 110 Moz of silver (measured and indicated) and 51 Moz (inferred), with recent test work producing a 94.6 percent barite concentrate.
In Mexico, the Cinco de Mayo project offers rare optionality, featuring a historical inferred resource of 154 Moz silver equivalent (385 g/t) and a high-impact discovery opportunity at the Pegaso Zone. Under an option agreement with MAG Silver, Apollo is executing a 20,000-meter drill program to earn full ownership of the project.
Project locationsThe Calico Silver Project, located 15 km from Barstow, California, includes the adjacent Waterloo and Langtry properties. Calico hosts a combined resource of 110 Moz silver (measured and indicated, 100 g/t) and 51 Moz silver (inferred, 77 g/t). The shallow, laterally extensive deposit offers strong geologic continuity and a low 1.1:1 strip ratio, supporting a potential low-impact open-pit operation. Recent drilling confirmed a 95 percent conversion rate from inferred to measured and indicated resources at Waterloo.
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Apollo Silver is advancing two high-impact silver projects in premier North American jurisdictions—California and Mexico—offering investors a unique combination of scale, optionality, and leverage to silver and critical mineral demand.
Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE: 6ZF0) is a silver-focused company advancing a dual-asset strategy centered on two high-impact projects in North America: the Calico silver project in California, USA and the Cinco de Mayo project in Chihuahua, Mexico. Both are located in mining-friendly jurisdictions with strong infrastructure and significant historical work.
Project locations
At Calico, Apollo Silver is advancing the Waterloo deposit toward development through geological modeling, barite resource definition, and engineering studies. Calico boasts 110 Moz of silver (measured and indicated) and 51 Moz of silver (inferred), and recent test work has produced a 94.6 percent barite concentrate, supporting the asset’s potential as a US critical minerals supplier.
In Mexico, Cinco de Mayo offers rare optionality with a historical inferred resource of 154 Moz silver equivalent (385 g/t), and a potentially game-changing discovery at the Pegaso Zone. The project is under an option agreement between Apollo Silver and MAG SIlver, wherein Apollo Silver will complete a 20,000-meter drill program to convert the option to an acquisition of the Cinco de Mayo. Apollo Silver’s strategy is underpinned by disciplined capital allocation, high-impact exploration, and a proven ability to acquire and unlock value from high-quality assets—following a model similar to Prime Mining. With no debt, strong institutional backing, and an experienced team, Apollo Silver is well-positioned to deliver scalable, discovery-driven growth in a rising silver and critical minerals market.
(Left to right) Drilling hole W22-RC008 and downhole surveying with an optical televiewer in drill hole WCC-RC-004B
The Calico silver project comprises two adjacent properties—Waterloo and Langtry—located in mining-friendly San Bernardino County, 15 km from Barstow, California. The combined resource at Calico includes 110 Moz of silver in the measured and indicated category (average grade: 100 g/t) and 51 Moz of silver in the inferred category with an average grade of 77 g/t. The deposit is shallow, laterally extensive, and exhibits excellent geologic continuity. A low strip ratio of 1.1:1 supports a potential open-pit operation with minimal environmental footprint. Drilling has demonstrated strong correlation between 2022 results and historical intercepts, underpinning a 95 percent conversion rate from inferred to measured and indicated categories at Waterloo.
Resources at Calico sit primarily on private land with vested mining rights, simplifying the path to permitting. Infrastructure is excellent: paved roads, power lines within 5 km, and proximity to the expanding Barstow rail terminal.
In addition to silver, Apollo Silver is evaluating Calico’s potential for gold and barite. Barite, a US critical mineral essential to oil and gas drilling, has demonstrated recoveries exceeding 94.6 percent purity in prior test work. A 1979 ASARCO historical estimate indicates 4.5 Mt of barite grading 13.4 percent. Ongoing 2025 work includes a barite resource estimate, investigating potential for additional gold mineralization, depending on results of preliminary work, followed up by a small drill program to test those findings.
Project location
Cinco de Mayo is a district-scale carbonate replacement deposit (CRD) system located in Chihuahua, Mexico along the same NW-SE structural trend that hosts some of the country’s largest silver and base metal deposits. The project was historically MAG Silver’s flagship asset, hosting a historical NI 43-101 compliant inferred resource of 154 Moz silver equivalent at an average grade of 386 g/t silver equivalent, including 132 g/t silver, 6.47 percent zinc, and 2.86 percent lead across the Jose Manto and Bridge Zone targets.
The site also includes the Pozo Seco deposit, which hosts an additional historical resource of 230,000 oz gold and 94 million pounds molybdenum, based on a 2010 technical report. Notably, a significant mineralized intercept—61 meters of massive sulphides—was drilled by MAG Silver in the Pegaso Zone beneath the known resource but never followed up due to social access issues.
Apollo Silver has secured an option to acquire the property from MAG Silver and is actively re-engaging with the local community to secure surface access to the property. A new, development-friendly ejido administration was elected in December 2024. The company is now pursuing a mutually beneficial and meaningful agreement with the local community for surface access rights to the Cinco de Mayo. The company will then execute a 20,000-meter drill campaign once access is secured. Under the option agreement with MAG Silver, Apollo Silver must secure access, drill 20,000 meters, and issue 19.99 percent of its common shares to complete its option to acquire Cinco de Mayo. Priority targets include Pegaso and expansion zones at Jose Manto. Metallurgical studies and engineering reviews are being considered as part of a future resource update.
A venture capitalist with over 30 years of operational experience, Andrew Bowering has raised over $500 million in value and capital for companies within the natural resources industry. He is the founder of Millennial Lithium and American Lithium, and he is a director and executive advisor to Prime Mining.
Chris Cairns is a CPA, CA and brings more than 13 years of experience working in the finance and mining industries. He obtained his designation while at PwC, working with numerous Canadian and US-listed mining and exploration companies operating in North America, South America and Mongolia, before leaving to serve in roles as controller and CFO of two publicly listed mining exploration companies listed in Canada and the United States.
Amandip Singh is a geologist and mining professional with over 15 years of experience in the mining industry, finance and academia. Most recently he was vice-president, corporate development for West Red Lake Gold Mines, where he was involved in the corporate turnaround and acquisition of the company’s flagship Madsen Mine project. He was previously with GT Gold as part of the management team that saw the Saddle North copper-gold porphyry project advance from discovery to eventual acquisition by Newmont Mining in a transaction valued at USD $311 million.
Rona Sellers is an experienced governance professional with more than 13 years of experience in corporate and securities law. Previously, she was VP compliance and corporate secretary at Maple Gold Mines, and previous to that she held corporate secretarial roles at publicly traded companies listed in Canada and the United States.
With over 20 years experience leading resource focused technical programs and teams, Isabelle Lépine brings extensive knowledge in mineral resource management to Apollo. Her significant experience ranges across the advanced stages of the resource development cycle through to mining. Most recently, she was director of mineral resources at Stornoway Diamonds.
Advancing two significant silver projects in the US and Mexico
Apollo Silver Corp. (" Apollo " or the " Company ") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce a number of positive developments at its Calico Silver Project ("Calico" or the "Calico Project") located in San Bernardino County, California.
Highlights:
Appointment of Senior Project Manager
To support the advancement of Calico, Apollo is also pleased to announce the appointment of Tony Gonzales, P. Geo., as Senior Project Manager.
Tony brings more than 35 years of mineral exploration experience, including nearly two decades with mining giant BHP. He was instrumental in advancing the EKATI Diamond Mine from exploration through to production, holding senior positions such as Senior Exploration Geologist, Technical Specialist (R&D), and Superintendent of Exploration.
As Project Manager at Fission Energy, Tony oversaw advanced exploration of the J Zone uranium deposit at Waterbury Lake. He later served as Senior Project Manager for Fission Uranium, contributing to both the discovery and advancement of the award-winning Triple-R deposit. Tony was also a key member of the team that discovered F3 Uranium's JR-Zone in Northern Saskatchewan.
Ross McElroy, President and CEO of Apollo, commented, " Calico consists of a major, high confidence silver resource surrounded by one of the most prospective land packages in the region. Thanks to the success of prior work programs, we already have an exciting list of exploration targets, including high-grade silver, gold, and barite. Now, with the appointment of Tony Gonzales, we have one of the industry's top exploration team leaders to take Calico into its next phase of growth."
Langtry Option Extension
The Company has entered into an amendment (the "Amendment") to its Option to Purchase Agreement with David K. Strachan as Trustee of the Bruce & Elizabeth Strachan Revocable Living Trust dated July 25, 2007 ("Strachan"). Under the original agreement, the Company was required to make a payment equal to the greater of US$5.2 million or the spot price of 220,000 troy ounces of silver, less any option payments made to date, by December 24, 2025, in order to acquire 100% interest in 20 patented and 2 unpatented mineral claims (the "Strachan Property") within the Langtry Property, part of the Company's larger Calico Project. The Langtry deposit, the majority of which is located on the Strachan Property, has a 2022 inferred Mineral Resource Estimate of 19.3 M tonnes at a grade of 81 g/t Ag for a total of 50 M oz of Ag using a 50 g/t silver cut-off (see news release dated February 9, 2022).
The Amendment extends the option period expiry date from December 24, 2025 to December 24, 2034; increases the purchase price to the greater of US$7.0 million or the spot price of 250,000 troy ounces of silver (the "Amended Purchase Price"), less any option payments made to date; and provides for annual option maintenance payments to be made over the duration of the eight-year extension totaling US$3.9 million, all of which can be credited against the Amended Purchase Price upon exercise.
To date, the Company has made a total of US$500,000 in option maintenance payments, which can be credited against the Amended Purchase Price upon exercise.
Waterloo Permit Extension
The Company has received approval from the San Bernardino County Land Use Services Department for its third extension of its TUP, allowing the Company to conduct exploration drilling at Waterloo for the next twelve (12) months
Technical Advisory Additions
The Company has entered into an Advisory Agreement with George Kenline to act as an independent technical advisor to the Company. Mr. Kenline is a California licensed Engineering Geologist and Hydrogeologist with extensive experience in environmental review processes. In particular, he has deep expertise in the permitting of mineral resource extraction, water supply development, reclamation, and habitat restoration in the County of San Bernardino, California. For over 15 years, he led as the Mining Engineering Geologist/Environmental Compliance Manager for the San Bernardino County's Land Use Services Department Mining Section as the County's Mining/Engineering Geologist.
Additionally, Apollo has also strengthened its project development team by engaging Genesg, a consulting firm with global expertise in permitting, stakeholder engagement, sustainability, and ESG Leadership, to support the Company as it advances Calico towards project development.
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo's Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a QP as defined by NI 43-101 and is not an independent of the Company.
About Apollo Silver Corp.
Apollo is advancing one of the largest undeveloped primary silver projects in the US. The Calico project hosts a large, bulk minable silver deposit with significant barite credits – a critical mineral essential to the US energy and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo is well positioned to advance the assets and deliver value through exploration and development.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross McElroy
President and CEO
For further information, please contact:
Email: info@apollosilver.com
Telephone: +1 (604) 428-6128
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation he expected benefits of the Strachan Option Extension; the timing, scope, and success of planned exploration activities, including at the Waterloo Project; the potential for silver, gold, and barite mineralization; the contributions of newly appointed personnel and advisors to the advancement of Calico; and the Company's ability to advance, develop, and permit the Calico Project. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and Ba; the demand for silver, gold and Ba; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws .
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Apollo Silver Corp. (" Apollo " or the " Company ") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) congratulates Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) on the recent acceptance of its Castle Mountain Project into the United States' FAST-41 program, which is designed to streamline and derisk the permitting process. Castle Mountain is located just 165km from Apollo's Calico silver and barite project both situated in San Bernardino County, California.
Ross McElroy, President and CEO of Apollo, commented, " This news speaks to the diligence of the Equinox team in advancing their project to this stage. Crucially for our Calico Project in San Bernardino County, which hosts one of the largest undeveloped silver deposits in North America, this also highlights the government's determination to accelerate domestic mine development. "
About Apollo Silver Corp.
Apollo is advancing one of the largest undeveloped primary silver projects in the US. The Calico Project hosts a large, bulk minable silver deposit with significant barite credits – a critical mineral essential to the US energy and medical sectors. Additionally, the Company has optioned Cinco de Mayo in Chihuahua, Mexico, which is host to a major CRD deposit that is both high-grade and large tonnage. Led by an award-winning management team, our growth strategy is matched only by the scale of the opportunity in front of us.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross McElroy
President and CEO
For further information, please contact:
Email: info@apollosilver.com
Telephone: +1 (604) 428-6128
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Apollo Silver Corp. (" Apollo " or the " Company ") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that it has engaged Creative Direct Marketing Group, Inc. ("CDMG"), an arm's-length service provider, to provide marketing and advertising services for an aggregate total of US$1,620,357 (the "Agreement"), payable in tranches, in accordance with the policies of the TSX Venture Exchange ("TSXV") and applicable securities laws. Based in Nashville, Tennessee, CDMG specializes in marketing, advertising, and public awareness across various sectors, including mining and metals.
Pursuant to a work order dated May 16, 2025, the Company initially engaged CDMG to develop creative content for potential marketing and advertising campaigns. The Company has entered into subsequent work orders dated August 14, 2025, authorizing CDMG to proceed with a marketing and advertising campaign focused on increasing investor awareness through online platforms and physical marketing, including direct mail. The campaign is expected to commence in September 2025 and continue through November 2025. The CDMG Agreement contains no performance-based conditions, and CDMG will not receive any securities of the Company as compensation. The principals of CDMG have confirmed that they have no direct or indirect interest in the Company or its securities and no right or intention to acquire such an interest.
The Agreement is subject to the approval of the TSXV.
About Creative Direct Marketing Group, Inc.
CDMG was founded in 1985 by Craig Huey, a multiple award-winning expert in direct response marketing, direct mail, targeting strategy, and accountable advertising. CDMG is a traditional marketing agency, which practices direct response advertising, including the use of thoroughly tested and responsive copy messaging, a comprehensive multi-pronged delivery strategy, creating innovative yet cost-effective tactics.
Incentive Awards
Pursuant to the Company's Omnibus Incentive Plan (the "Plan") dated December 12, 2024, and TSXV policies, the Company's Board of Directors has approved the annual grant of stock options ("Options"), Restricted Share Units ("RSUs") and Deferred Share Units ("DSUs") to certain employees, officers, directors and consultants.
The Company granted Options to purchase an aggregate of 4,415,000 common shares of the Company (each, a "Common Share"), with an exercise price of $0.44 per Common Share. The Options will vest in three equal tranches over a 24-month period. Once vested, each Option is exercisable into one Common Share for a period of five years from the date of the grant.
The Company also granted a total of 2,350,000 RSUs and 1,400,000 DSUs. The RSUs will vest in three equal tranches over 36-months. Once vested, each RSU and DSU entitles the holder to receive one Common Share. DSUs may only be settled once a director ceases to serve on the Company's Board of Directors.
About Apollo Silver Corp.
Apollo is advancing one of the largest undeveloped primary silver projects in the US. The Calico Project hosts a large, bulk minable silver deposit with significant barite credits – a critical mineral essential to the US energy and medical sectors. Additionally, the Company has optioned Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major CRD deposit that is both high-grade and large tonnage. Led by an award-winning management team, our growth strategy is matched only by the scale of the opportunity in front of us.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross McElroy
President and CEO
For further information, please contact:
Email: info@apollosilver.com
Telephone: +1 (604) 428-6128
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, the timing, scope, and success of planned marketing program by CDMG. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and Ba; the demand for silver, gold and Ba; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws .
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Apollo Silver Corp. (" Apollo " or the " Company ") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that it has entered into an investor relations agreement (the "Agreement") with Matthews Investments, to provide investor relations services to the Company, as defined in accordance with the policies of the TSX Venture exchange ("TSXV") and applicable securities laws. Matthews Investments will receive consideration of C$7000month, payable monthly in arrears, for an initial term of three months, with the option for the Company to renew on a quarterly basis thereafter.
Matthews Investments, a company based in Vancouver, British Columbia, provides IR consulting services for public companies. Founding CEO, Richard Matthews, is an IR expert with more than 15 years of experience and with deep expertise in the mining industry. He has held senior management and board roles at Canadian publicly listed companies and has run highly successful, international IR programs. Neither Matthews Investments nor any of its principals hold, directly or indirectly, any securities of Apollo, however, they have advised that they may participate in a future financing or acquire shares in the open market.
The Agreement is subject to the approval of the TSXV.
About Apollo Silver Corp.
Apollo has assembled an experienced and technically strong leadership team who have joined to advance quality precious metals projects in sought after jurisdictions. The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project, in Chihuahua, Mexico.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross McElroy
President and CEO
For further information, please contact:
Email: info@apollosilver.com
Telephone: +1 (604) 428-6128
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Investorideas.com, a global investor news source covering mining and metals stocks, issues a snapshot of Apollo Silver Corp. (TSXV: APGO,OTC:APGOF) (OTCQB: APGOF) showing how it's executing its vision of owning significant silver assets, attracting world class management with the recent appointment of President and CEO, Ross McElroy and building long term value for its shareholders.
Apollo Silver (Apgo) (Apgof); Right Assets, Right Management and Right Time
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For mining investors, Ross McElroy's name has become legendary; building a successful uranium company and providing shareholders with an exit strategy that made headlines around the world.
McElroy, a professional geologist, brings over 38 years of mining industry expertise, spanning operational and corporate roles across major, mid-tier and junior mining and exploration companies.
Last year, as CEO of TSX-listed Fission Uranium, McElroy executed a deal to be acquired by Australian company Paladin Energy, in an all-stock transaction valued at $1.14 billion.
For Andy Bowering, former CEO and now Chairman at Apollo, bringing in Ross at this stage of the game was a familiar path, following his strategy at Prime Mining Corp and other companies. Bowering handed over the reins to Ross, knowing he could take Apollo from exploration to production based on a track record that few have achieved in the mining sector.
Bowering is a venture capitalist with 30 plus years of history of putting deals together; finding the right assets and then bringing in leadership at the right moment that can take the deal to the next level.
Talking of Ross, he said, "Our ability to attract someone with Ross' expertise, energy and track record of value creation speaks volumes about the opportunity at Apollo. I believe he will have a transformative impact on the Company's future and all stakeholders will benefit greatly."
Bowering also told Investorideas in a recent Exploring Mining Podcast, "I've had a few great exits for shareholders but I have never hit the billion dollar mark and that's why we wanted Ross under our umbrella."
Apollo's current portfolio consists of two silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project in Chihuahua, Mexico. Apollo is currently fully funded to advance its projects with cash in the bank of $11 Million in the treasury as of June 2025.
Looking at the current silver projects, the California Calico Project is one of the US's largest undeveloped primary silver deposits. The Company acquired it for $41 Million and put another $13 Million into it, betting big on the opportunity.
The Calico Project, comprising the adjacent Waterloo and Langtry properties, is located in the historic Calico Silver Mining District in the Mojave Desert of San Bernardino County, California.
Ross McElroy spoke of the Calico Project in a recent interview, saying, "It isn't just land; it's land that is meaningful."
He went on to note, "It is a result of the Calico fault system that runs from the northwest to the southeast and is responsible for the emplacement of Langtry and Waterloo deposits that occur long the Calico fault trend. Importantly, the new claims are following the controlling primary mineralized feature, so they are located along strike and trend for the mineralization in the system.
"We already know that there is are a number or of historic surface anomalies of silver and gold as well as a number of base metals including zinc and copper on the new claims. It is our job to go about executing the proper exploration process in order to generate new and significant targets for drilling.
"We think we can make further discoveries of gold and silver that we see along this trend."
Apollo announced an updated mineral resource estimate ("MRE") for the Calico Project (the "2023 MRE"), which now contains 110 million ounces (Moz) silver in 34.2 million tonnes (Mt) at an average grade of 100 grams per tonne (g/t) silver in Measured and Indicated category, and 0.72 Moz silver in 0.29 Mt at an average grade of 77 g/t silver in the Inferred category, all at Waterloo.
Apollo and its management saw an opportunity to expand on the project and on May 20th, the Company announced it had increased the Calico land package by over 285% from 1,194 ha to 3,409 ha of contiguous claims.
The Calico land package announcement was the first news from Apollo under the new management direction with Ross McElroy as President and CEO.
The newly acquired Mule claims consist of 415 lode mining claims, acquired from LAC Exploration LLC, a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC) ( NYSE: LAC), the previous operators of the property.
Historic preliminary mapping and sampling of the Mule claims from the former operator have identified several high-grade silver anomalies.
Commenting on the opportunity, Ross McElroy, President and CEO of Apollo said in the press release, "The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts 3 discrete drill delineated zones with resource estimates along a 4km long trend, along the Calico fault zone. The Mule claims increase the overall land area of the Calico project by more than 2.5x. The new claims are strategically located to the east along the very prolific Calico mineralized corridor and represent a great opportunity for further discoveries. Apollo is committed to continuing to unlock value in California for our shareholders."
With the strong environmental concerns in California, its low 1.1:1 strip ratio ensures optimized operations and a minimalized footprint.
Looking at the growth opportunities at Calico, the Company says there is "potential to expand silver and gold resources and the intent to add barite to future resource update, making a potentially meaningful contribution to project economics."
With Apollo making its silver assets the primary focus, barite may open other doors, with the US mandate prioritizing critical minerals for national security designating barite as a critical mineral. Barite serves multiple purposes, notably as a weighting agent in oil and gas drilling fluids to manage borehole pressure.
So what's next for the Calico project? The Company plans continued resource growth and conversion, working to extend the 2024 drill permits at Waterloo Project, and de-risking and advancing the project towards production.
Apollo's Cinco de Mayo Project, in Chihuahua, is located on the Northwest and Southeast trend that hosts the world's largest Carbonate Replacement Deposits. Cinco de Mayo is made up of 29 concessions totaling over 25,000 ha located in the Municipio de Buenaventura, with a high-grade historical resource of approximately 154M AgEq oz.
In September 2024, Apollo entered into an exploration, earn-in and option agreement with MAG Silver Corp. (TSX: MAG) and its subsidiary, Minera Pozo Seco, S.A. de C.V. to acquire the Cinco de Mayo Project.
Apollo was able to acquire the option at a discount to its potential valuation, but with a challenge of establishing social license in Mexico. Once social license has been achieved, Apollo Silver will secure the necessary licensing and permits to access and conduct exploration activities on the Cinco de Mayo property.
Bowering's history with Prime Mining Corp and its 'boots on the ground' presence in Mexico gives him in-depth experience on how to navigate the next steps. The Company will be engaging with local community members to rebuild trust and gain access, with a goal of building a mine that will generate employment and meet environmental standards.
An advantage operationally, the Cinco de Mayo's primary mine is an underground mine, fitting into the current narrative banning future open pit mining, thus aligning with environment concerns.
The Cinco de Mayo project, with the Pegaso Zone representing a potential significant new discovery, is blue sky to Apollo if they achieve exploration approval.
Building shareholder value is important to Apollo's management team. "Apollo's strategy is to provide maximum upside to investors through focusing our exploration and resource definition programs in mining jurisdictions with historic silver production and limited modern exploration."
This is not just a statement on their website; it is backed by their actions. Bowering can relate to investors and is a large shareholder in the company, having put $6 Million of his own capital into the company and not taking a salary during his term as President.
Ross McElroy echoed Andy's sentiment about having skin in the game, saying recently he is also a shareholder and it's important to have management that are shareholders, so all of the interests are aligned.
The winning combinations of Ross McElroy and Andy Bowering have track records of successful exit strategies for their shareholders. Apollo's executive team has been involved in over $5B of M&A activity.
With a base of two significant silver projects, they are also focused on finding additional opportunities and building out assets for Apollo Silver.
With silver prices rising and a renewed focus from the US Government to prioritize critical and strategic mineral resources, Andrew Bowering says, "This is the right place, right time for Apollo."
Visit www.apollosilver.com for further information.
Apollo Corporate Presentation:
https://apollosilver.com/wp-content/uploads/2025/06/APGO-Investor-Presentation-2025-06-13.pdf
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Cobre (ASX:CBE) is advancing copper-silver exploration in Botswana’s Kalahari Copper Belt, one of the world’s most prospective yet underexplored sediment-hosted copper provinces. Holding a 5,348 sq km land position, its near-term focus is the Ngami Copper Project (NCP), where a maiden JORC resource at the Comet deposit establishes an initial copper-silver resource with strong in-situ copper recovery (ISCR) development potential.
Cobre’s growth strategy balances district-scale discovery with development-ready assets. Backed by up to AU$40 million (US$25 million) in BHP funding, the company is accelerating exploration at Kitlanya while directing its own capital toward advancing the Ngami Copper Project through technical, environmental and permitting milestones.
Cobre’s project location in the Kalahari Copper BeltIn parallel, Cobre maintains strategic exposure to high-purity quartz and volcanogenic massive sulphide (VMS) opportunities in Western Australia. This diversified, capital-light approach is designed to drive shareholder value through discovery, de-risking and development optionality.
This Cobre Limited profile is part of a paid investor education campaign.*
Click here to connect with Cobre Limited (ASX:CBE) to receive an Investor Presentation
Cobre offers investors a rare combination of district-scale copper-silver discovery potential, near-term development upside through its ISCR-ready Ngami copper project, and a capital-light growth model underpinned by major-partner funding and diversified exposure to critical minerals.
Cobre (ASX:CBE) is an Australian exploration company unlocking the copper-silver potential of the Kalahari Copper Belt in Botswana, one of the world’s most prospective but underexplored sediment-hosted copper provinces. With approximately 5,348 sq km of land position, the company’s near-term focus is the Ngami copper project (NCP), where a maiden JORC resource at the Comet deposit establishes an initial copper-silver resource with strong in-situ copper recovery (ISCR) development credentials.
Cobre’s project location in the Kalahari Copper Belt
Cobre’s growth strategy balances district-scale discovery potential with development-ready assets, leveraging major-partner funding, including up to AU$40 million (US$25 million) investment from BHP to accelerate exploration at Kitlanya, while concentrating company capital on advancing NCP through technical, environmental and permitting milestones. The company complements its Botswana assets with strategic exposure to high-purity quartz and volcanogenic massive sulphide (VMS) opportunities in Western Australia. This diversified, capital-light approach aims to build shareholder value through discovery, derisking and development optionality.
The 100 percent owned Ngami copper project is Cobre’s flagship asset and the primary focus of current exploration and technical work. Situated in the Kalahari Copper Belt (KCB), NCP spans multiple licences covering highly prospective sediment-hosted copper-silver targets along basin margins.
Comet Deposit – Maiden JORC Resource
In-Situ Copper Recovery Development Potential
ISCR is a low-cost, low-impact method of producing copper by circulating a solution through the orebody underground to dissolve and pump the metal to surface for processing. For Cobre’s Ngami project, ISCR offers the potential to unlock value without the expense and disruption of conventional mining, thanks to favourable geology, high recoveries in test work, and minimal surface disturbance – positioning it as a potentially faster, cleaner and more capital-efficient path to production.
Exploration Upside
Beyond the initial Comet resource, Ngami hosts extensive growth potential with 40 km of mineralised strike and large, defined exploration targets that could significantly expand the resource base. Early drilling at new zones, such as the Cosmos target, has intersected high-grade copper. More than 20 km of prospective contact remains untested, offering multiple opportunities for further discoveries that could enhance scale, mine life and project economics.
Cobre’s Kitlanya East and West licences, also located in Botswana, involve an eight-year earn-in agreement with BHP. Under the deal, BHP can invest up to US$25 million to earn a 75 percent interest in Kitlanya, allowing the company to leverage a major partner’s technical expertise and funding while retaining exposure to potential tier-one discoveries. Exploration is targeting preserved fold hinge settings along basin margins – geological positions known to host large sediment-hosted copper deposits – using advanced geophysics and seismic techniques to define high-priority drill targets.
Another Botswana copper asset, the Okavango project is located along strike from MMG’s Zone 5 deposit. Okavango offers 186 km of prospective contact in the northeast Kalahari Copper Belt. Early drilling has intersected multiple zones of anomalous copper and silver mineralisation, and geophysical data shows gravity signatures comparable to those in producing areas, indicating strong potential for significant new discoveries.
In addition to its African portfolio, Cobre holds the Perrinvale project in Western Australia, prospective for both high-grade VMS mineralisation and high-purity quartz (HPQ). The HPQ target has an exploration range of 5.1 to 28.3 Mt grading 99.1 to 99.6 percent SiO₂, positioning it as a potential supplier to critical silicon markets for renewable energy and electronics.
Martin Holland is the founder of Cobre and co-founder of multiple ASX-listed companies, including Lithium Power International. He has more than 15 years’ experience in capital markets and resource company leadership, raising more than AU$200 million for exploration.
Founding partner and CEO of KML, Adam Woolridge has more than 28 years’ experience in exploration management and target generation in Africa, the Middle East and Europe.
CEO of Armada Metals and founder of RED Group, Ross McGowan has over 20 years of experience in African exploration, and was part of the Kamoa discovery team.
Michael McNeilly, is a corporate financier and CEO of Strata Plc, with experience across multiple listed resource companies.
Michael Addison is the founder of Endocoal, Carabella Resources and Genex Power, with extensive mining and energy development background.
Andrew Sissian is co-founder of Cobre and Procon Telematics. He is a corporate and capital markets specialist with a CPA background.
Prismo Metals presents a compelling investment opportunity with its strategic focus on high-grade precious and base metal exploration in Mexico and Arizona, leveraging advanced technology and maximizing shareholder value through targeted asset development.
Mexico’s Sinaloa state hosts several prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s (TSX:USA) Cosalá operations and Kootenay Silver’s (TSXV:KTN) Copalito silver-gold project. Between 2012 and 2019, gold production at the El Gallo mine alone totaled 295,000 ounces (oz) and silver production peaked at 142,000 oz. At the Panuco project, Vizsla Silver (TSXV:VZLA) has an indicated resource of 9.5 million tons at grades of 289 g/t silver, 2.41 g/t gold, 0.27 percent lead and 0.84 percent zinc for 155.8 Moz silver equivalent.
Prismo Metals (CSE:PRIZ,OTCQB:PMOMF, FSE:7KU) has made a strategic move to join the list of successful explorers in this region. The company’s leadership team has decades of experience in the Mexican precious metals industry. Director, president, CEO and co-founder Dr. Craig Gibson has been an exploration consultant since 1998 and a director of Beyond Minerals (CSE:BY) Garibaldi Resources (TSXV:GGI).
Prismo Metals has three current exploration projects: Palos Verdes, Los Pavitos and Hot Breccia. The Palos Verdes property covers 22.77 hectares within the historic Panuco-Copala silver-gold district in Sinaloa, well-known for its numerous veins with historical production. While much of the district has been consolidated by Vizsla Resources, the Palos Verdes project is located near the district’s under-explored northeastern limit.
On January 9, 2023, Vizsla Resources acquired a right of first refusal to purchase the Palos Verdes project through a strategic investment agreement with Prismo Metals. Vizsla's strategic investment consists of a cash payment of $500,000 and the issuance of one million common shares of Vizsla to Prismo. Pursuant to the strategic investment, the two companies formed a technical committee for district-scale exploration of the Panuco silver-gold district consisting of Drs. Gibson and Megaw along with Dr. Jesus Velador, vice president of exploration for Vizsla.
Prismo Metals’ Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has been explored for 250 meters with findings yielding as much as 6.7 grams per ton (g/t) gold and 544 g/t silver from surface and underground sampling. A second vein system may be reflected in a northwest striking alteration zone, offering an additional high-grade exploration target on the property.
In May 2019, the company and ProDeMin entered an option agreement in which Prismo may acquire a 75-percent interest in the Palos Verdes property, and later entered into an agreement to acquire the remaining 25 percent of the property from the original owner. The company conducted a 2,100-meter drill program at Palos Verdes in 2022, designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package.
Prismo conducted a 15 hole, 2,923-meter drilling program at Palos Verdes in 2023, with the best result being 11,520 silver equivalent (102 g/t gold and 3,100 g/t silver) over 0.5 meters downhole. An alteration study and rock chip sampling program were also conducted and provide evidence that additional mineralization may occur in previously unexplored areas.
The Los Pavitos project is located in the Alamos region of southern Sonora, a well-mineralized area that hosts several active exploration and mining projects. The project consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel, and show the presence of high-grade gold assays in at least two target areas.
In 2022 Prismo Metals signed a formal access agreement with Francisco Villa Ejido, the surface owner of the Los Pavitos Project to allow for exploration work and drilling, and completed a mapping, sampling and trenching program in 2023. Thus work paved the way for a first ever drill program at the project in 2023, consisting of 2,370 meters in 25 holes with excellent results.
Prismo acquired the right to earn a 75 percent interest in the Hot Breccia property in early 2023. Hot Breccia lies in the heart of the world-class Arizona copper belt and has historical drilling indicating the potential for a large copper mineralized system.
An airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey was completed at Hot Breccia. Prismo received assay results for the first batch of samples taken at the project indicating the presence of not only copper mineralization but also gold mineralization associated with gossanous veins and shear zones.
In 2025, Prismo Metals has signed option agreements to acquire100 percent of the historic Silver King and Ripsey mines in Arizona’s prolific Copper Belt, near its flagship Hot Breccia project. Silver King, discovered in 1875, produced nearly 6 million ounces of silver at grades up to 61 oz/t, with later sampling returning up to 644 oz/t silver and 15 g/t gold, indicating high-grade potential and possible antimony mineralization. The Ripsey mine, located 20 kilometers west of Hot Breccia, is an historic gold-silver-copper producer with sampling up to 15.85 g/t gold and 276 g/t silver, yet remains untested by modern exploration.
The Silver King Project gives Prismo Metals a foothold in one of the most historically significant silver-gold districts in the United States. Once a premier silver producer, the mine is renowned for its exceptionally high grades and long mining history. The project offers both brownfields exploration upside and discovery potential, supported by excellent infrastructure, mining expertise in the region, and a fully funded exploration program. Prismo’s work is focused on validating historic results, testing high-priority targets, and positioning Silver King as a cornerstone North American asset.
Prismo Metal's Silver King project
The Ripsey Mine, located 20 km west of the Hot Breccia project, is a historic gold-silver-copper producer with underground workings extending over 400 meters of strike and 160 meters vertically. Limited production occurred in the late 1990s, and the project has never been tested by modern exploration
The Hot Breccia project is Prismo’s latest acquisition located in the heart of the great Arizona Copper Belt, USA and is located 40 km south of the Resolution deposit and 35 km north of the San Manuel / Kalamazoo deposit and is just a few kilometers from the Hayden Smelter. The Hot Breccia property has the same productive geologic units that host high-grade copper skarn mineralization at the adjacent, past-producing Christmas Mine owned by Freeport. Prismo has the option to earn a 75-percent interest in the Hot Breccia project from Infinitum Copper (TSXV:INFI).
The company completed an airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey at Hot Breccia in 2023 and received assay results for a first batch of samples taken at the project. The results indicate the presence of not only copper mineralization, but also gold mineralization associated with gossanous veins and shear zones. The ZTEM survey identified a priority drill target in a conductive anomaly at depth.
Following the success of the 2023 ZTEM survey, Prismo received permit approval from the Bureau of Land Management for 10 drill pads to allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area. Assay results for samples taken in February 2024 include 5.69 percent copper, 0.24 g/t gold and 32.8 g/t silver.
Earlier in 2024, Prismo Metals engaged Exploration Technologies (ExploreTech) from San Diego, California to apply xFlare, their artificial intelligence (AI)-optimized drill planning solution, to its Hot Breccia project where a number of features suggest well mineralized Arizona-style copper porphyry lies at depth. Prismo is currently planning an initial 5,000 meter drill program at Hot Breccia.
The company’s Palos Verdes property is located in Southern Sinaloa, roughly 65 kilometers northeast of Mazatlán. The Palos Verdes concession covers 22.77 hectares and is situated within the historic Panuco-Copala mining district, the largest silver producer in Sinaloa.
Mapping and sampling were conducted over the property by ProDeMin. The Palos Verdes vein crops out for about 750 meters along strike and yielded as much as 4.15 g/t gold and 732.7 g/t silver. Before the turn of the century, a 70-meter tunnel was driven along the Palos Verdes vein near the bottom of the Palos Verdes arroyo; a sample of the vein in this adit yielded 6.7 g/t gold and 544 g/t silver. In 2018, ProDeMin completed a diamond drilling program on the property. Notable drill results included 3.75 g/t gold and 1,098 g/t silver for 2.3 meters and 8.42 g/t gold and 2,336 g/t silver for 0.8 meters.
The company has undertaken several drill campaigns at the project, and a total of about 6,052 meters have been drilled in 33 holes to date, including five holes drilled by ProDeMin in 2018. Results indicate the presence of a near-surface high-grade ore shoot in the Palos Verdes vein similar to mineralization in the resources defined by Vizsla Silver in the southwestern portion of the district.
The company, in conjunction with its strategic partner Vizsla Silver (TSXV:VZLA), has planned an expanded drill program with new holes to be drilled from Vizsla Silver’s concessions adjacent to the Palos Verdes concession, targeting the proposed extension of the Palos Verdes ore shoot at depth and a possible extension along strike to the northwest. Prismo Metals is planning on initiating this drill program in August, 2024.
The company’s Los Pavitos project is located in the Alamos region of Southern Sonora, a well-mineralized area that hosts multiple active exploration and mining projects. Los Pavitos consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel. The property’s numerous mines and prospect pits indicate historical interest.
Prismo conducted a reconnaissance surface mapping and sampling at the project in 2022 and early 2023. This program consisted of about 1,500 samples and identified 5 main gold and silver mineralized target areas within several kilometer-scale structural zones. A follow up trenching program consisted of 698 meters in 25 trenches with almost 350 samples taken. A first ever drill program at the project was conducted in 2023, with 2,370 meters completed in 25 holes.
High-grade gold assays were encountered at the Santa Cruz target, with 10.2 g/t gold over 6.6 meters in drill hole LP-SC-23-02. A second gold zone was intersected at Las Auras, with 3.58 g/t gold over 1.15 meters within 3.65 meters carrying 2.33 g/t gold and 87.6 g/t silver.
Gordon Aldcorn brings over 20 years of experience in capital markets and junior public company development. Over the past five years, he has focused on the corporate management of copper and gold exploration projects, with a strong track record of advancing early-stage assets. Committed to responsible mineral exploration and long-term stakeholder engagement, Aldcorn now leads Prismo Metals through a pivotal growth phase, advancing its high-potential projects in Mexico and Arizona, including the flagship Hot Breccia copper project and the Palos Verdes silver project.
Alain Lambert, who co-founded Prismo in 2018, is a lawyer by training and has over 35 years of experience in financing and advising small and medium-sized companies operating in various industries including technology, manufacturing, and the natural resources sector. He has been involved in private and public financings totaling more than $1 billion. He has an extensive network of investors, investment bankers, analysts, and investor relations professionals. Lambert acts as an advisor to public and private companies regarding financings, mergers and acquisitions plans, debt structuring as well as going-public transactions. Throughout his career, Lambert has served as a director and member of the audit committee and governance committee of small and medium-sized private and public companies. He holds a Bachelor of Laws degree (LL.B.) from the University of Montréal and a diploma of collegial studies, specializing in administration from the College Jean-de-Brébeuf in Montréal, Québec.
Dr. Craig Gibson has extensive experience in the minerals industry. He received his BS (1984) in earth sciences from the University of Arizona and MS (1987) and PhD (1992) in economic geology and geochemistry from the Mackay School of Mines, University of Nevada, Reno. He co-founded Prospeccion y Desarrollo Minero del Norte, S.A. de CV (ProDeMin) based in Guadalajara, Mexico, in 2009. ProDeMin is a consulting firm providing a broad spectrum of exploration-related services to the mining industry and has been involved in several major precious metal discoveries in Mexico. Gibson is also a director of Garibaldi Resources, a Vancouver-based junior exploration company; a certified professional geologist of the American Association of Professional Geologists; and a qualified person under NI 43-101.
Carmelo Marrelli is the principal of the Marrelli Group, comprising Marrelli Support Services Inc., DSA Corporate Services Inc., DSA Filing Services Limited, Marrelli Press Release Services Limited, Marrelli Escrow Services Inc. and Marrelli Trust Company Limited. The Marrelli Group has delivered accounting, corporate secretarial and regulatory compliance services to listed companies on various exchanges for over twenty years. Marrelli is a chartered professional accountant (CPA, CA, CGA), and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He received a bachelor of commerce degree from the University of Toronto. Marrelli acts as the chief financial officer to several issuers on the TSX, TSX Venture Exchange and CSE, as well as non-listed companies, and as a director of select issuers.
Martin Dupuis has over 25 years of experience covering all stages of a project’s life, from exploration through feasibility and engineering studies, construction, mine expansion and operations. Dupuis serves as Vizsla Silver’s chief operating officer. He was instrumental in the oversight and delivery of the company’s maiden resource estimate. Before joining Vizsla Silver, Dupuis was director of geology for Pan American Silver, technical services manager for Aurico Gold, and chief geologist at several other operations.
Jorge Rafael Gallardo-Romero has been a consultant geologist of Cascabel since March 1992. He also acts as Mexico exploration manager of Gainey Capital (since January 2015) and of Minera Goldzone SA de CV (since March 2011). Gallardo-Romero graduated from the University of Sonora with a degree in Geology in 1984.
Maria Yeomans Otero is a geologist who graduated from Universidad de Sonora, Mexico, in 1986, with master's studies in business administration at the same university. She has been a part of the team at Cascabel since 1992 and is now the office manager. She speaks English fluently and has extensive experience in the administration, legal and commercial relations related to mining.
Louis Doyle has over 30 years of experience focused primarily on capital markets and public companies. Since 2016, he has also provided consulting services to private companies seeking listing on Canadian exchanges. Since January 2016, Doyle has been the executive director of Québec Bourse. Between October 1999 and December 2015, he was the vice-president, Montréal of the TSX Venture Exchange. As such, he was responsible for business development and listing activities in the provinces of Québec and Atlantic Canada. During his tenure, he acted as chairman of the TSX Venture listing committee and was a member of the policy committee. Doyle also led the nationwide TSX Venture mentorship program and further acted regularly as a speaker and advisor at conferences and workshops. He also holds directorship roles with two other publicly traded companies. Doyle was granted 150,000 incentive stock options exercisable at $0.165 per share before June 26, 2027. Also, three other directors were each granted 50,000 incentive stock options, exercisable at $0.165 per share before June 26, 2027.
Dr. Peter Megaw is best known as co-founder of MAG Silver and Minaurum Gold. He and his team are credited with MAG Silver’s Juanicipio discovery in the famous Fresnillo District and Excellon Resources’ Platosa mine. He received his doctorate from the University of Arizona and has more than 35 years of experience exploring silver and gold in Mexico. Megaw is a certified professional geologist by the American Institute of Professional Geologists and an Arizona Registered Professional Geologist. He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences. He was awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, ultimately leading to a further 600 million ounces being identified in the immediate area. Megaw also received the Society of Mining Engineers 2012 Robert M. Dreyer Award for excellence in applied economic geology.
The Ranger-Page Project is in the Coeur d'Alene Mining District that ranks among the world's top producers of silver, lead and zinc
Silver Dollar Resources Inc. (CSE: SLV,OTC:SLVDF) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") is pleased to announce that, further to its new release of August 7, 2024, it has completed the exercise of its option to acquire an initial 75% interest in the Government Gulch portion of the Ranger-Page Project located in Shoshone County, Idaho, USA
Figure 1: Location of the Ranger-Page Project in the Coeur d'Alene Mining District.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Ranger-Page_Silver-Valley.jpg
Pursuant to the Government Gulch Option and Joint Venture Agreement (the "Government Gulch Agreement") dated July 20, 2021, and as amended by agreements dated July 20, 2022, May 22, 2024, and August 7, 2025, to exercise its option to acquire a 75% interest in the Government Gulch property under the Government Gulch Agreement (the "First Option"), Silver Dollar paid the optionor US$250,000 and incurred more than US$1,210,000 in exploration expenditures on the property.
Silver Dollar has the option to acquire the remaining 25% interest in the Government Gulch property (the "Second Option") through good faith negotiations with the optionor. In the event the optionor and the Company cannot agree on a purchase price for the Second Option, the Company can elect the purchase price of the Second Option to be: (a) US$2,250,000, (b) US$1,000,000 and issue US$1,250,000 of Silver Dollar's shares valued at the 20-day volume-weighted average price ("VWAP"), or (c) if the optionor so requests, US$2,250,000 of Silver Dollar's shares valued at the 20-day VWAP.
If Silver Dollar does not exercise the Second Option on or before December 31, 2025, a joint venture will be formed among the parties and Silver Dollar will serve as operator. The Government Gulch Agreement includes dilution provisions where if a joint venture participant contributes less than its proportionate share of expenses, that participant's interest will be diluted. If a joint venture participant's interest is diluted to less than 10%, the other party will automatically acquire the diluted participant's interest and it will grant a 2.0% net smelter returns royalty on the Government Gulch property. Silver Dollar has the right to purchase half of such royalty (1.0% of net smelter returns) for US$1,000,000.
If Silver Dollar exercises its option under the Government Gulch Agreement, as described above, it will grant Silver Valley Metals Corp. a royalty equal to 0.5% of net smelter returns from the Government Gulch property.
Figure 2: Ranger-Page claim groups, underground mine workings, and new target areas.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Ranger-Page_Claims-Targets-082025.jpg
About the Ranger-Page Project
Located in a world-class silver district, the Ranger-Page land package covers six historic mines and is ideally situated near Interstate 90 with year-round access to power, water, local infrastructure and a workforce in the Silver Valley skilled in exploration and mining. The primary target areas are up and down plunge from historic underground mining, along strike where ground induced polarization (IP) surveys have identified anomalies, and where surface trenching identified near surface mineralization. Additional exploration targets have also been identified away from historic mine infrastructure, using soil geochemical data, mapping, and ground IP survey data.
About Silver Dollar Resources Inc.
Silver Dollar is a dynamic mineral exploration company focused on two of North America's premier mining regions: Idaho's prolific Silver Valley and the Durango-Zacatecas silver-gold belt. Our portfolio includes the advanced-stage Ranger-Page and La Joya projects, as well as the early-stage Nora project. The Company's financial backers include renowned mining investor Eric Sprott, our largest shareholder. Silver Dollar's management team is committed to an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
For additional information, you can visit our website at silverdollarresources.com, download our investor presentation, and follow us on X at x.com/SilverDollarRes.
ON BEHALF OF THE BOARD
Signed "Gregory Lytle"
Gregory Lytle,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (604) 839-6946
Email: greg@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
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