Apollo Gold Closes $5 Million Private Placement - Seite 2

Simon Clarke, CEO of Apollo Gold stated, “we are pleased to close this over-subscribed Offering at this key time in the commodity cycle and to strengthen our balance sheet as we finalize arrangements in both Chile and Mexico relating to the acquisition of highly prospective gold assets and ahead of launching initial work programs in both countries. We continue to pursue our strategy of looking to secure and develop assets in Tier 1 mining jurisdictions which we believe have the potential to develop into world-class gold projects.”

On behalf of the Board of Directors

APOLLO GOLD CORP.

“Simon Clarke”
Simon Clarke, Chief Executive Officer

About Apollo Gold Corp. (TSX.V: APGO)
Apollo Gold has assembled a team that is exploring for world class gold deposits in tier-one jurisdictions. Positioned for a prolonged gold cycle, the Company’s initial 5,329-hectare project lies in the heart of the Republic of Chile’s prolific El Indio Gold Belt surrounded by some of the largest gold companies/mines in the world. The Company is also focused on acquiring quality assets in Mexico and recently announced a letter of intent to enter into an option to acquire 5,240 hectares in a district with a history of gold and silver mining and with a number of deposits nearby. Apollo’s team offers global resource sector experience focused on exploration and development with a track-record in advancing projects and creating shareholder value.

For further information, please contact
Apollo Gold Corp.
Simon Clarke
Tel: [phone]
[e-mail]

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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 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.