Apollo Silver defers Cinco de Mayo access agreement at Ejido Benito Juárez

Apollo Silver Reports Ejido Benito Juárez to Reconvene Assembly on Cinco de Mayo Access Agreement

VANCOUVER, British Columbia, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX-V: APGO | OTCQB: APGOF | Frankfurt: 6ZF) reports that Ejido Benito Juárez (the "Ejido"), located in Buenaventura Municipality, Chihuahua, Mexico, will call a second community assembly to consider lifting the moratorium on mineral exploration and development affecting lands which include the Cinco de Mayo project (the "Project") and the acceptance of a long-term access agreement. Based on information available to the Company, the assembly convened for this purpose on September 20, 2026, was adjourned before business was conducted, and the Company understands that this was due to a lack of quorum. The Ejido will reconvene the assembly in accordance with the procedures set out under Mexican agrarian law. The Company is in discussions with the Consejo de Vigilancia (Oversight Council) of the Ejido to determine the next assembly date, which will likely occur in October.

"Ejido processes often take more than one assembly to conclude, and that is the path we have always planned for. Our engagement remains strong as the Ejido moves to reconvene." said Colin Sutherland, President and Chief Executive Officer of Apollo Silver.

A first assembly on matters of this nature requires attendance by at least 50% plus one of the Ejido’s registered membership. Because the first assembly did not proceed, Mexican law permits the Ejido to call a second assembly, at which the 50% plus one attendance threshold does not apply and resolutions may be adopted by a simple majority of the ejidatarios in attendance, regardless of the number present, rather than by a majority of the Ejido’s total registered membership. This two-stage sequence is routine and applies generally to matters of this kind and is not specific to the Company or the Project.

The Company is not a participant in the assembly or its voting process, and respects that this is a matter for the community to decide. The Company’s future activities will continue to be guided by the results of the vote, together with applicable regulatory approvals and its ongoing engagement with the community.

About Cinco de Mayo

Cinco de Mayo is an approximate 25,000-hectare property located in the north central part of Chihuahua State, Mexico, approximately 190 kilometres northwest of the state capital of Chihuahua City in the Municipio de Buenaventura. The Project is prospective for and hosts carbonate replacement type deposits including the Upper Manto Pb-Zn-Ag (Au) deposit, which consists of two parallel and overlapping manto deposits referred to as the Jose Manto and the Bridge Zone. An independent technical report and Mineral Resource estimate (“MRE”) on the Upper Manto deposit was prepared in 2012 by Rosco Postle and Associates (“RPA”). At a NSR cut-off of US$100/t, Inferred MRE was estimated to total 12.45 million tonnes at 132 grams per tonne silver (“g/t Ag”), 2.86 per cent (“% Pb”) lead and 6.47 %t zinc (“Zn”) and 0.24 g/t (“Au”) (See Apollo Silver’s news release dated March 7, 2025). The total contained metals in the historical resource were 52.7 million ounces of Ag, 785 million pounds of Pb, 1,777 million pounds of Zn and 96,000 ounces of Au. See cautionary statement below.

A potential new discovery, the Pegaso Zone was drilled in 2012 and consists of 61.6 metres of massive sulphide intersected in drill hole CM-12-431, below and to the east of the Upper Manto deposit. The Pegaso Zone was not included in the 2012 Historical MRE and is considered a high-priority target with the potential to represent a significant new discovery. The notable intercept returned 349 g/t AgEq over 61.60 m from 927 m downhole including 89 g/t Ag, 0.78 g/t Au, 0.13% Cu, 2.1% Pb and 7.3% Zn (refer to MAG Silver news release dated July 18, 2012) The Company’s initial review of historical data suggests that the Pegaso Zone could indicate a larger and higher-grade resource at depth.

About Apollo Silver Corp.

Apollo Silver Corp. is a mineral exploration and development company advancing the Calico Silver Project in San Bernardino County, California, and holds an earn-in interest in the Cinco de Mayo Project in Chihuahua, Mexico. The Company is listed on the TSX Venture Exchange under the symbol APGO, on the OTCQB under the symbol APGOF and on the Frankfurt Stock Exchange under the symbol 6ZF.

Qualified Person

The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo’s Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a QP as defined by NI 43-101 and is not independent of the Company

ON BEHALF OF THE BOARD OF DIRECTORS

Colin Sutherland
President and CEO

For further information, please contact:

Email: info@apollosilver.com
Telephone: +1 (604) 428-6128

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Historical Mineral Resource Estimates

This 2012 historical MRE referenced above is considered historical in nature and the reader is cautioned not to treat this estimate as current Mineral Resources, nor should they be relied upon. They are included here as an indication of the mineralization of the Project. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and the Company is not treating the historical estimate as a current mineral resource.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the calling, timing, process and outcome of the next Ejido assembly, including the conduct of the assembly process, the attendance and voting requirements applicable to the assembly, and the potential lifting of the moratorium on mineral exploration and development that has been in place since 2012; the terms and execution of an access agreement with the Ejido; the timing, nature, and results of exploration and development activities at Cinco de Mayo; the exploration potential of the Project, including the potential discovery and significance of the Pegaso Zone; interpretations of historical data; the potential size, grade, continuity and extent of mineralization, including at depth; and the Company’s future plans, strategies, and objectives. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated, including but not limited to: the risk that the next Ejido assembly is not called or held as anticipated, is further adjourned, or does not result in approval to lift the moratorium; concerns regarding the conduct of the assembly process and the risk of challenges to the assembly or its outcome; the administrative and procedural requirements under Mexico’s Agrarian Law; the risk that the information available to the Company regarding the adjournment of the September 20, 2026 assembly, or the Company’s understanding of the attendance, notice, voting and other requirements applicable to the reconvened assembly, is incomplete or incorrect; opposition to the Project within the Ejido or surrounding communities and social licence risks; the ability to execute a definitive access agreement with the Ejido on the terms described; risks inherent in mineral exploration; uncertainty of mineral resource estimates; fluctuations in commodity prices; regulatory and permitting risks; title risks; and general economic and market conditions. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including that the reconvened Ejido assembly will be called and held in accordance with Mexican agrarian law and within the timeframe currently anticipated; that the attendance and voting requirements applicable to the assembly are as the Company currently understands them; that the assembly and its outcome will not be subject to legal challenge or further delay; that the Company and the Ejido will be able to agree on the terms of a long-term access agreement; the price and demand for silver, gold, lead, zinc and barite; the ability to carry on exploration and development activities and obtain required approvals, personnel, equipment and services on a timely basis; and the regulatory framework governing environmental matters, together with such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information contained herein. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.