Corporation, Greenwood Village, CO, NYSE : AGT; TSX : APG,

Apollo is involved in the acquisition, exploration and development of gold deposits; ranging from initial metals exploration to gold producing operations.

Our current objectives are to commence mining at our Black Fox Mine in 2009, drilling and road construction at our Huizopa Project, and to continue profitable production at the Montana Tunnels Mine. In addition, we continue to evaluate potential acquisition and exploration prospects.

Gold Mine Development: Black Fox Mine. Timmins, Ontario, Destor-Porcupine gold district.

Black Fox Mine - CANADA - Permitted
Apollo Gold has received all necessary permits and approvals required to commence mining activities at the Black Fox Mine. On October 23, 2008, Apollo commenced removal of the glacial till material which overlays the open pit. This removal is scheduled to be completed in May 2009. Mining of the open pit is expected to commence in March 2009. - Black Fox - Pit Stripping (Video)

Black Fox has a reserve estimate of 1,330,000 ounces of gold. The new mineral reserve estimate was prepared by SRK Consulting (“SRK”), Denver, Colorado. SRK has confirmed that the reserve study complies in all respects with Canadian National Instrument 43-101 (“NI 43-101”) guidelines.

Gold Production: Montana Tunnels mine, Jefferson City, Montana

Montana Tunnels Mine - U.S.A. Our current producer is the Montana Tunnels mine, located five miles west of Jefferson City, Montana. It is a 50/50 joint venture with Elkhorn Tunnels LLC and Apollo is the operator. The mine is an open pit poly metallic operation. Production includes gold and silver dore, lead-gold and zinc-gold concentrate. The mill is expected to operate at an average rate of 14,000 tons per day.

Gold Exploration: Huizopa Project is located in the Sierra Madres in Chihuahua, Mexico

Huizopa Project - MEXICO The Huizopa Project is located in the Sierra Madres in Chihuahua, Mexico - a silver-gold district which is recognized as one prolific gold mining regions in the world.

The Huizopa project is located between Alamos Gold's Mulatos gold silver project and the Minefinder's Dolores project. We have a land position of 170 Sq. Km. A preliminary drilling program was commenced in February 2008.