(MENAFN- GlobeNewsWire - Nasdaq) Outcrop Sample Assays up to 1,280 g/t Silver at Mule and 76.12% Barite at LangtryVANCOUVER, British Columbia, May 11, 2026 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“ Apollo Silver” or the“ Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF) is pleased to report results from its ground geological mapping and sampling program (the“Program”), including assay results, at the Calico Silver Project (“Calico” or the“Project”) located in San Bernardino County, California (see news release dated December 11, 2025). The Program conducted mapping, sampling and geophysical anomaly checks across the Project, and identified multiple mineralized occurrences returning assays with highly anomalous silver, gold, barite and zinc values across several key areas.
Program activities included systematic infill rock sampling at Burcham gold prospect (located within the Waterloo Property), and regional scale assessment of the Mule Property. The Mule Property assessment included geological mapping and outcrop sampling along the Calico fault trend, soil geochemistry surveys, and outcrop sampling within the lithostratigraphic unit known as the Pickhandle Formation Volcanics (“Pickhandle”) (refer to Figure 1). Ground-truthing of historic induced polarization (“IP”) anomalies within Langtry and Waterloo was also conducted.
Surface Sampling Program Highlights
Mule Property:
High-grade silver (“Ag”) values up to 1,280 grams per tonne (“g/t”) Ag identified at the Mule Property within the Pickhandle. Program results support that the Pickhandle unit at Mule is a host of high-grade silver and barite veins and thus is a target that warrants systematic follow-up.
Burcham Mine Area (Waterloo Property):
Multiple highly anomalous gold (“Au”) results at Burcham, including assay results of 4.85 g/t, 3.70 g/t, and 3.59 g/t Au. High-grade zinc values up to 30.0% zinc (“Zn”) confirmed in specularite manto zones.
Waterloo Property & Langtry Property:
Sampling of the Lower Barstow-Pickhandle contact, within the northeast portion of Waterloo, returned moderate silver assays, including 149 g/t Ag, 139 g/t Ag, and 80.7 g/t Ag. Highly elevated barite assays of up to 27.78% and 76.12% BaSO 4 were observed at Langtry and 35.68% BaSO 4 at Waterloo. Barite comprises part of the Mineral Resource Estimate at Waterloo, whereas less is known about the occurrence of barite at Langtry. These results confirm that anomalous barite mineralization is present at Langtry.
“This exploration field program has advanced our understanding of the potential for additional significant mineralization at Calico,” said Ross McElroy, President and CEO of Apollo Silver.“Encouraging gold and silver results, including high-grade silver at the Mule Property, along with elevated barite values at Langtry, reinforce our confidence in the upside prospectivity for additional discoveries at Calico.”
Figure 1: Location of the Sampling and Mapping Program, Calico
Next Steps The Company continues to advance the Project through both exploration and project development initiatives. The initiation of a Preliminary Economic Assessment (“PEA”) study for the Project, expected to be completed in Q3 2026, was previously announced (see news release dated March 18, 2026).
The Project development work for 2026 includes a 4,500m HQ large diameter drill program to collect material and data to support advanced level metallurgical and geotechnical work as well as a 1,000m NQ diameter exploration drill program to test the Burcham gold potential with the goal of expanding the gold resource.
Drilling was originally anticipated to begin in Q1 2026; however, the Company is currently awaiting receipt of final permits, now expected to be received in Q2. Due to seasonal high temperature constraints that limit drilling operations in the region, particularly during the months of July and August, drilling activities have been rescheduled and expected to commence in Q3, following the summer period.
While the upcoming metallurgical and geotechnical drilling program is not required for the PEA, it is designed to generate additional data that is intended to support a future anticipated Pre-Feasibility Study (“PFS”). Apollo anticipates providing further updates on permitting advancements and other operational developments as they occur.
Technical Summary and Analytical Methods
A total of 245 rock samples were collected across the Project in December 2025, together with 893 soil samples from the Burcham mine area of the Waterloo Property and the Mule Property. Refer to Figures 1 and 2. All rock and 522 soil samples were submitted to ALS Global-Geochemistry in Reno (“ALS Reno”), Nevada for gold and multi-element analysis. Soil samples were collected at 25 m spacing, with lines separated by 200 m.
Mule Property
The objective of the sampling and mapping at the Mule Property was to evaluate the potential for gold associated with the Calico Fault and for the potential of the Upper Barstow Formation to host silver, similar to that observed at Waterloo. The highest silver values of the Program were obtained from the Pickhandle Formation volcanic rocks within the Mule Property. Select samples from historical workings returned up to 1,280 g/t Ag (J423690) and 221 g/t Ag (J423689). These highly anomalous samples were associated with felsic volcanic tuffs hosting dark purple barite veinlets. The assay results confirm that the Pickhandle Formation volcanics at Mule Property is an important exploration target that warrants systematic follow-up.
Soil geochemical sampling conducted in the Upper Barstow Formation stratigraphic unit of the Mule Property returned broadly subdued precious and base metal values and failed to define discrete surface anomalies of sufficient contrast to justify additional soil follow-up at this stage.
Figure 2: Rock Outcrop Sampling
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