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[rien_ne_va_plus]

Apollo Gold Corporation Announces Jipangu Inc. as Strategic Investor and Letter of Intent Signed for Divestiture of Nevada Mining Assets
Thursday June 2, 12:25 am ET


DENVER--(BUSINESS WIRE)--June 2, 2005--Apollo Gold Corporation ("Apollo" or the "Company") (AMEX:AGT - News; TSX:APG - News) is pleased to announce a strategic investment by Jipangu Inc. ("Jipangu") in the Company. The Company has agreed to issue 10,000,000 common shares from treasury at C$0.40 per share for gross proceeds of C$4 million (approximately US$3.2 million), which would provide Jipangu with a stake in the Company of approximately 9.5%. The subscription price represents a premium of approximately 9% to the 10-day weighted average trading price of Apollo on the Toronto and American Stock Exchanges.

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Separately, Apollo has signed a non-binding Letter of Intent with Jipangu for the sale of its Nevada Mining assets, including the Florida Canyon and Standard Mines as well as Apollo Gold Exploration, which owns the Company`s Nevada exploration properties. The completion of the transaction is subject to continued confirmatory due diligence by Jipangu as well as agreement and execution of definitive agreements and customary closing conditions. There can be no assurance that the transaction will be completed. Apollo will announce the business terms of the definitive agreement if and when such agreement is executed.

David Russell, President and Chief Executive Officer, said, "Apollo welcomes Jipangu as a new strategic investor in our company. Jipangu has been a successful investor in the gold mining sector and has a track record of supporting companies as they seek to strengthen their balance sheet and develop new projects. We look forward to developing a long-standing relationship with Jipangu."

Apollo continues to progress its Black Fox development project toward feasibility. The Company is evaluating sources of capital for the ultimate development of this project and sees the investment by Jipangu as opening another potential financing source. Apollo and Jipangu may review other opportunities together in the future.

About Apollo Gold

Apollo Gold is a gold mining company with operating mines in Nevada and Montana, the Black Fox advanced stage development project in Ontario, Canada, and the Huizopa Project an early stage exploration project in the Sierra Madre Gold Belt in Chihuahua, Mexico.

This press release is not an offer of securities for sale in the United States. The securities described herein may not be offered or sold in the United States absent registration or an exemption from registration, and any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management as well as financial statements. This press release shall not constitute an offer to sell or solicitation of an offer to buy in any jurisdiction where such solicitation or sale would be unlawful.

FORWARD-LOOKING STATEMENTS

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements regarding potential transactions with Jipangu and the completion of the Black Fox feasibility study and other future plans and objectives of Apollo Gold are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that the sale of shares or the Nevada properties to Jipangu will be completed. Important factors that could cause actual results to differ materially from Apollo Gold expectations include the results of continued due diligence investigation by Jipangu, a material adverse change in the Apollo`s condition, failure to complete definitive documentation, inability to obtain government approvals for the transaction, delays or problems with the Black Fox feasibility study and other factors disclosed under the heading "Risk Factors" and elsewhere in Apollo Gold documents filed from time to time with the Toronto Stock Exchange, The American Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.



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[rien_ne_va_plus]

Im Amiland wird schon mächtig eingedeckt!

[Khampan]

wow!
Jipangu kennt sich aus. Sie haben vor 5-6 Jahren Cambior vor dem Konkurs gerettet, die Firma steht inzwischen glänzend da.
Gab allerdings auch einige Investments, die im Sande verlaufen sind: High River, Harmony, Durban u.a.

Auf alle Fälle ist Jipangu kein kurzfristiger Spekulant, sondern versucht langfristig einen Goldkonzern unter japanischer Führung aufzubauen.

Werde nach dieser Meldung meine Apollo`s doch noch behalten.
Khampan