Apollo Silver Corp · TSXV:APGO
Apollo Silver — Investor Presentation (March 2025)
28 slides from Apollo Silver's investor presentation, March 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION March 2025 TSX-V: APGO | OTCQB: APGOF | FSE: 6ZF0 www.apollosilver.com TSX-V:APGO, OTCQB: APGOF, FSE: 6ZFO | 1
Slide 2: Cautionary Note: Forward Looking Statements
Cautionary Note: Forward Looking Statements This presentation includes “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of Canadian securities legislation, which reflect the Apollo’s current expectations regarding the futu
Slide 3: Investment Thesis
Investment Thesis Two Significant Large Mineral Corporate Highlights Upcoming Value Projects Located Inventory with Driving Catalysts in Pro-mining Expansion Potential Jurisdictions The Calico Silver Project Calico Project- 110Moz Highly experienced team Resource estimate for (‘Calico Project”) occu
Slide 4: Capital Structure
Capital Structure Shares issued and outstanding 242.2M Options (avg. price $0.29/share) 15.8M Warrants (avg. price $0.79/ 35.3M share) Market Capitalization C$55.7M 30-day daily trading volume¹ 350K Working Capital² ~C$12.3M Debt NIL Source: Desjardins Capital Markets Institutional holdings 25.8 Maj
Slide 5: Leadership Team
Leadership Team C h r i s C a i r n s , C PA, C A R ona Sellers , L L B Am a n d i p S i n g h I s a b elle L epi ne, CFO VP. Commercial & VP, Corporate Development M. S c , P. GEO Compliance, Corp. Secretary Director, Mineral Resources Andrew Bowering Interim President, CEO, Chairperson and Directo
Slide 6: Projects
Projects We operate in two mining-friendly jurisdictions with great access to infrastructure Calico Project Calico Project located in San Bernadino County, CA One of the largest primary silver deposits in the US. Cinco de Mayo Project Recently optioned Cinco de Mayo Project in Chihuahua, Mexico Text
Slide 7: Creating Value
Creating Value Organic Growth Accretive Acquisitions Discovery Continued Resource Growth Recently announced entering Highest priority target is the and Conversion at Calico into an option agreement to Pegaso Zone at Cinco de Project acquire the Cinco de Mayo Mayo Project from MAG Silver Corp. Drilli
Slide 8: Calico Project - Highlights
Calico Project - Highlights Vested mining Bulk minable deposit Minimal geological Significant growth rights ease path to with low strip ratio risk opportunities development Low 1.1:1 strip ratio ensures Near-surface silver is Potential to expand silver and Private land with vested optimized operatio
Slide 9: Calico Silver Project
Calico Silver Project Resources primarily occur within private lands Both private properties have MINERAL vested mining rights TITLE 15 km from Barstow and accessible via paved roads Commercially available electricity within 5 km of LOCATION & property INFRASTRUCTURE Barstow rail facility within 15
Slide 10: Silver Resource Estimate
90 Moz silver classified as highest confidence resource category Silver Resource Estimate 110 Moz silver (M&I) at 100 g/t silver1,2 51 Moz silver (Inferred) at 77 g/t silver1,2 Strip ratio of 1.1:1 1,610 g/t Ag over 1.5 m Key factors that resulted in 95% M&I conversion rate: Near-surface silver mine
Slide 11: Updated Mineral Resource Estimate
Updated Mineral Resource Estimate Waterloo Silver - 95% conversion rate to Measured & Indicated1,2 from Inferred3 February 9, 2022 March 6, 2023 WATERLOO RESOURCE ESTIMATE(1,3) WATERLOO RESOURCE ESTIMATE(1,2) Category Metal Grade Tonnes Strip Ratio Ounces Category Metal Grade Tonnes Strip Ratio Ounc
Slide 12: Barite
Barite U.S. Critical Mineral at Calico Barite is on the 2022 US Final List of Critical Minerals as it is essential to the economic or national security of the U.S. and is vulnerable to supply chain dis- ruption*. Barite is critical for domestic applications in the energy industry. U.S. Critical Mine
Slide 13: Looking Forward at Calico
Looking Forward at Calico Expand the oxide gold resource in Burcham area Define barite distribution Target high-grade silver at Langtry GROW Feasibility level drilling focused on open pit design geotechnical information and metallurgical process optimization. ADVANCED Preliminary engineering studies
Slide 14: Cinco De Mayo Project
Carbonate Replacement Deposits (CRD’s) Cinco De Mayo Project 10 to 50 million tons High grades 5 to 50 oz / T Ag 3 to 25% Zn 3 to 25% Pb 0.2 to 5% Cu Au, Cd, Ge, In, W, Mo, PGE credits Low mining cost Metallurgically docile Minimal environmental footprint www.apollosilver.com TSX-V:APGO, OTCQB: APGO
Slide 15: Cinco De Mayo Project
A textbook CRD deposit Cinco De Mayo Project Located along NW- SE trend that hosts the world’s largest Carbonate Replacement Deposits High grade Silver and Base Metal Grades (>350g/t AgEq) CRD Exploration Multiple Mineralization and Model for alteration stages Cinco De Mayo Favourable rock types and
Slide 16: Cinco De Mayo Project History
Cinco De Mayo Project History 2005 / 2006 2007 2008 2009 2010 2011 /2012 2012 /2013 MAG Silver Geophysics Jose Manto Pozo Seco Pozo Seco Bridge Zone Project Access Option Discovery Discovery Resource Discovery Reduced Based on CRD Property-wide 6.87m @ 254 g/t High Grade Indicated 29Mt Discovery at
Slide 17: Cinco De Mayo Project
Resource Expansion and Potential New Discovery Cinco De Mayo Project Please refer to slide 24 of this presentation for cautionary notes and further information regarding Cinco de Mayo Project historical mineral resource estimates. www.apollosilver.com TSX-V:APGO, OTCQB: APGOF, FSE: 6ZFO | 17
Slide 18: Cinco De Mayo Project
Resource Expansion and Potential New Discovery at Pegaso Zone Cinco De Mayo Project Highest Priority Target Pegaso Zone is a potentially significant new discovery Multiple thick layers of mineralization Fits expected Carbonate Replacement Zoning Model Open in all directions www.apollosilver.com TSX-
Slide 19: Cinco De Mayo Project
Cinco De Mayo Project Pozo Seco- High Grade Mo/Au Resource Source: “Ross, D., 2010, Technical Report on the Pozo Seco Mineral Re- source Estimate, Cinco de Mayo Project, Chihuahua, Mexico, NI 43-101 Report, September 10, 2010” www.apollosilver.com TSX-V:APGO, OTCQB: APGOF, FSE: 6ZFO | 19
Slide 20: Historical Resources
Historical Resources *Upper Manto Deposit, September 1, 2012, Mag Silver Corporation Category Tonnage (Mt) Gold (g/t) Silver (g/t) Zinc (%) Lead (%) AgEg (g/t) Gold (oz) Silver (Moz) Zinc (Mib) Lead (Mib) Inferred 12.45 0.24 132 6.47 2.86 385 96,000 52.7 1,777 785 The Upper Manto Historical Mineral
Slide 21: Unlocking Value at Cinco de Mayo
Unlocking Value at Cinco de Mayo Potential Discovery and Increased Silver Resource Validate potential discovery at Pegaso, 20,000m Drilling and update mineral resource estimate Exploration Program incorporating all previous and current Top priority is to obtain permits and drilling drill the Pegaso
Slide 22: Thank You
THANK YOU To subscribe to our email list, visit: www.apollosilver.com 710-1030 West Georgia Street Vancouver, BC V6E 2Y3 Tel: (604) 428-6128 Email: info@apollosilver.com TSX-V: APGO | OTCQB: APGOF | FSE: 6ZF0 www.apollosilver.com TSX-V:APGO, OTCQB: APGOF, FSE: 6ZFO | 22
Slide 23: Appendix: Information Concerning Calico Resource Statements
Cautionary Note: Appendix Information Concerning Calico Resource Statements Cautionary Note for Mineral Resource Estimates The Calico Silver Project 2023 Mineral Resource Estimate (“2023 MRE”) has been prepared by Derek Loveday, P. Geo., of Stantec Consulting Services Ltd. (“Stantec”), an independen
Slide 24: Appendix: Information Concerning Historical Resource Estimates
Cautionary Note: Appendix Information Concerning Cinco de Mayo Historical Resource Estimates Source of the historical estimate: Upper Manto Deposit: In 2012, MAG Silver reported at an NSR cut-off of US$100/t, an Inferred Mineral Resource for total 12.45 million tonnes of 132 g/t Ag, 0.24 g/t Au, 2.8
Slide 25: Appendix: Consolidated Resources
Consolidated Resources Appendix Consolidated Resources Category Tonnes (Mt) Silver (g/t) Gold (g/t) Zinc (%) Lead (%) AgEq (g/t) AgEq (Moz) Gold (oz) Silver (Moz) Zinc (Mlbs) Lead Mlbs) *Cinco De Mayo Project Inferred 12.45 132.00 0.24 6.47 2.86 385.00 154.00 96,000.00 52.70 1,777.00 785.00 Waterloo
Slide 26: Appendix: Silver Explorer/Developer Peers
Silver Explorer/Developer Peers Appendix M&I AgEq Moz Inferr ed AgEq Moz Market Cap C$M 1600 800 1400 700 1200 600 1000 500 Market Cap C$M AgEq Moz 800 400 600 300 400 200 200 100 0 0 N E LA DV G SL E V AG O RA VR SV AG DS AA KT PG GR VZ SL AB V: NU V: ER V: X: V: :A X- V: V: V: V: X- TS X- X: X- -V
Slide 27: Appendix: Transaction Considerations
Cinco De Mayo Project Appendix Transaction Considerations Social Gain access to property, through the establishment of contracts and social license with the local License community stakeholders • Plan and execute comprehensive exploration program Work • Assume all property holding costs upon signing
Slide 28: Appendix: Historical Metallurgical Test Works
Cinco De Mayo Project Appendix Historical Metallurgical Test Works Summary of Historical Work Key Takeaways From Historical Work Basic preliminary metallurgical work completed between Promising Metal recoveries 2010 and 2014 Jose Mantos: (1) Jose Mantos: • Galena and sphalerite liberations are adequ