Apollo Silver Corp.

Apollo Silver Corp. is a junior silver exploration company headquartered in Vancouver, Canada, operating primarily in USA. The company's portfolio consists of 2 projects, comprising 1 advanced exploration and 1 suspended project. Key assets include Cinco De Mayo and Calico. The organization's business model is centered on the acquisition, exploration, and definition of mineral deposits with economic potential. As an entity in the exploration and early development stage, it has not yet generated revenue from operations. The operational approach involves a systematic process of data compilation, validation, and geological interpretation to guide exploration activities. Technical capabilities include the execution of reverse circulation drilling programs, surficial geological mapping, and the application of geophysical survey methods such as induced polarization and drone-based magnetics. A significant component of its evaluation process is a comprehensive metallurgical test program designed to assess and verify mineral recovery. This program utilizes various comminution and extraction methods, including direct agitation cyanidation, ball mill work index testing, column leach testing, and flotation processes. The company employs advanced analytical techniques for sample analysis, such as inductively coupled plasma mass spectrometry, fire assay with gravimetric or atomic absorption finishes, and X-Ray Fluorescence, ensuring a high degree of precision in its resource evaluation efforts. A rigorous quality assurance and quality control program, involving certified reference materials and various blanks, underpins all sampling and analysis to ensure data reliability.

The business strategy is focused on the exploration, evaluation, and development of its mineral assets to enhance shareholder value. Near-term objectives involve executing targeted mapping and sampling programs to follow up on previous results, with the potential for subsequent drilling to expand known mineralization. A key strategic priority is the potential addition of by-product resources to the existing mineral inventory through comprehensive re-assaying programs and updated resource modeling. The organization also anticipates undertaking work to acquire essential geotechnical information and collect material for advanced metallurgical testing and process optimization studies, which could form the basis for future preliminary engineering assessments. Concurrently, the enterprise actively evaluates and seeks to identify additional project acquisition opportunities, with a primary focus on tier-one jurisdictions. Management maintains a flexible approach to capital allocation, continually assessing the costs of its exploration and development programs and adjusting their scope as needed. The company acknowledges that its current treasury may not be sufficient to fund all planned activities and anticipates that it may need to seek additional financing to fully advance its projects.

The governance structure is overseen by a 5-member board of directors, which recently experienced a transition with the appointment of a new director and the shift of a former director to an advisory role. Shareholders demonstrated support for the board by electing all 5 director nominees at the most recent Annual General and Special Meeting. Executive leadership recently underwent a change with the retirement of the CEO and President and the appointment of an interim successor, alongside the addition of a VP of Corporate Development to support expanded activities. The company has implemented a new Omnibus Incentive Plan, approved by shareholders, to align the interests of directors, officers, employees, and consultants with those of the company. Under this plan, the organization recently granted 8,500,000 stock options with vesting periods extending over 24 months. Key management personnel, defined as officers and directors, have employment agreements that include provisions for termination payments. To ensure the integrity of its technical disclosures, the company retains multiple independent Qualified Persons to review and approve scientific and technical information related to resource estimation, data quality, and metallurgy.

The corporate structure includes a wholly-owned subsidiary, Stronghold Silver USA Corp., which serves as the primary vehicle for holding certain mineral property rights. The organization is party to an exploration, earn-in, and option agreement with MAG Silver Corp. and its subsidiary, Minera Pozo Seco, S.A. de C.V., which grants the company the right to acquire 100% of the share capital of 0890887 B.C. Ltd., an indirect subsidiary of MAG. This transaction is contingent upon the company meeting specific exploration and permitting milestones within a 5-year period. Upon successful exercise of this option, a finders' fee is payable to an arms-length third party. Additionally, through its subsidiary, the company holds options to acquire 100% interest in other properties through separate agreements. One such agreement is with the Bruce and Elizabeth Strachan Revocable Living Trust, and another is with Athena Minerals Inc. These agreements require annual payments to maintain the options in good standing, with all payments creditable towards the final purchase price upon exercise. The company's common shares are publicly traded on 3 exchanges: the TSX Venture Exchange, the OTCQB, and the Frankfurt Stock Exchange.