Apollo Receives 2024 Drill Permit for Waterloo Property and Provides Operational Update - Seite 2

Table 1: ASARCO (1979) Waterloo Historical Silver and Barite Mineral Reserve at 25 g/t Ag cut-off

Tonnage		Average Grade			Contained Metal
Tons (Mst)	Tonnes (Mt)	Grade- Silver (g/t)	Grade- Silver (opt)	Grade-Barite (%)	Barite (Mt)	Silver (Moz)	Silver (AgEq) (Moz)
37.2	33.9	92.9	2.71	13.4	4.5	100.9	146.5

^{Reference to the historic reserves at the Waterloo Property prepared by ASARCO refer to an internal company document prepared by ASARCO, dated 1979 (unpublished). Historic reserves are reported here as documented in original documents. The historic reserves were calculated prior to the implementation of the current Canadian Institute of Mining’s (“CIM”) standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Ore Reserves dated May 10, 2014) as required by NI 43-101 and has no comparable resource classification. The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. An independent Qualified Person has not completed sufficient work to classify these estimates as current mineral resources or reserves and therefore the Company is not treating the historical estimate as a current mineral resources or mineral reserves. The reliability of the historical estimate is considered reasonable, reliable, and relevant to be included here in that they demonstrated simply the barite mineral potential of the Waterloo Property. This historic resource estimate for silver has been superseded by the Calico Silver Project current mineral resource estimate, announced March 6, 2023. There is no current resource estimate for barite.}

MANAGEMENT UPDATE
Cathy Fitzgerald, Vice President, Exploration and Resource Development has announced her intention to step down from her role at Apollo effective April 26, 2024. Cathy was instrumental in advancing the Company and positioning Calico as one of the largest undeveloped silver projects in the USA. The board and management wish her all the very best in her future endeavors.