Mr. Ross McElroy reports

SILVER ADDED TO USGS 2025 LIST OF CRITICAL MINERALS

The U.S. Department of the Interior has added 10 minerals, including silver, to the U.S. Geological Survey 2025 list of critical minerals. For the first time, silver is recognized as having growing importance to U.S. economic and national security. This inclusion signals enhanced government focus on securing domestic supply chains through enhanced permitting, subsidies and strategic stockpiling initiatives.

"Apollo Silver welcomes the U.S. government's efforts to strengthen domestic silver mining by placing silver on the USGS list of critical minerals," stated Ross McElroy, president and chief executive officer of Apollo Silver Corp. "This development will not only bring increased investor attention to the sector but will also help boost Apollo's profile of its Calico silver project, which hosts the country's second-largest primary silver deposit in the U.S. The inclusion of silver on the critical minerals list strengthens the project's case for consideration under the Fast-41 program, a U.S. government initiative aimed at streamlining permitting processes for critical and resource projects. With the U.S. importing 64 per cent of its silver consumption in 2024, this designation emphasizes silver's strategic value and irreplaceable role across both industrial and defence industries."

Apollo Silver's Calico project, located in San Bernardino county, California, recently announced its updated mineral resource estimate, with a combined measured and indicated total of 55 million tonnes at a grade of 71 grams per tonne silver for a total of 125 million ounces of silver, and an inferred total of 17.6 Mt at a grade of 71 g/t Ag for a total of 58 Moz Ag (see Apollo's news release dated Sept. 4, 2025, and Oct. 16, 2025).

About critical minerals

The Energy Act of 2020 defined critical minerals as those commodities that are essential to the economic or national security of the U.S.; have a supply chain that is vulnerable to disruption; and serve an essential function in the manufacturing of a product, the absence of which would have significant consequences for the economic or national security of the U.S.

Qualified person

The scientific and technical data contained in this news release were reviewed and approved by Isabelle Lepine, MSc, PGeo, Apollo Silver's director, mineral resources. Ms. Lepine is a registered professional geologist in British Columbia and a qualified person as defined by National Instrument 43-101 and is not independent of the company.

About Apollo Silver Corp.

Apollo Silver is advancing the second-largest undeveloped primary silver projects in the U.S. The Calico project hosts a large, bulk minable silver deposit with significant barite and zinc credits -- recognized as critical minerals essential to the U.S. energy, industrial 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 deposit that is both high grade and large tonnage. Led by an experienced and award-winning management team, Apollo Silver is well positioned to advance the assets and deliver value through exploration and development.