NEWS RELEASE
APG: TSX
AGT: AMEX
Apollo Gold Reports on Huizopa Geophysical Program
Denver, Colorado – May 3, 2007 - Apollo Gold Corporation ("Apollo") (TSX: APG) (AMEX:
AGT) is pleased to report favorable results from a geophysical exploration program undertaken
at its Huizopa exploration project in the State of Chihuahua, Mexico.
Apollo Gold has received a geophysical report from Zonge Engineering and Research
Organization of Tucson, Arizona regarding the recently completed geophysical program
conducted at Apollo’s Huizopa gold-silver exploration property. Zonge Engineering was
contracted to conduct a series of systematic induced polarization (IP) and resistivity surveys to
better define the size and location of potential drill programs and targets.
Huizopa consists of about 128 sq. km. of tertiary volcanic rocks that host widespread, low-angle
(40-60 degree), sub-parallel epithermal quartz-adularia breccia veins that can be mapped for
several kilometers of strike length, and are divided into a western vein system and an eastern
vein system. Apollo geologists believe potential targets at Huizopa include epithermal quartzadularia veins containing high-grade “black pyritic breccia” gold-silver mineralization, as well as
stockwork mineralization within sheeted-fracture zones in the hanging walls. In addition, the
geophysical data suggest that a new area, outside the main vein systems and several square
kilometers in size, appears to be a significant disseminated gold-silver drill target that may be
amenable to large scale open pit mining methods. It should be noted that the Huizopa project is
located directly between the Mulatos Gold mine, owned by Alamos Gold, and the Dolores Gold
development project, owned by MineFinders Ltd.
The geophysical program was designed to identify targets with pyritic alteration spatially
associated with Huizopa-type gold-silver mineralization. The geophysical program covered 8
lines of helicopter supported - ground IP / resistivity geophysics conducted over several different
target areas. The geophysics extended the strike length of the known veins, detected new
structures and was successful in targeting broad anomalous IP drill targets on both the eastern
and the western sets of veins. The program also identified a large area with the IP/resistivity
response indicative of a shallow disseminated gold-silver target.
“I would classify our first geophysical survey as very successful,” remarks Richard Nanna,
Apollo’s Senior Vice President – Exploration, “The geophysics indicate Huizopa has excellent
potential for both large, high-grade vein-controlled mineralization within the eastern and western
vein systems, and, at least one very large, near surface disseminated gold-silver target that is
open laterally in all directions. An obvious question asked by an investor would be, after
receiving a positive geophysical study, what steps will be taken by Apollo to advance the
Huizopa project next? The answer is that a dirt road needs to be constructed to give access to the
drill sites and the road is currently being permitted. The access road will be approximately five
kilometers in length and will take approximately three months to complete. Following road
construction, the first round of a drilling campaign, consisting of 50 holes, will begin. The initial
drilling program will be a combination of reverse circulation and core holes and should be
completed before the 2007 year end.”
For further details of the geophysical study, please see the report posted on the Apollo website
titled “Dipole-Dipole Time Domain IP/Resistivity Surveys by Zonge Engineering and Research
Organization, Inc.”
Apollo Gold Corporation
Apollo is a gold mining and exploration company which operates the Montana Tunnels Mine,
which is a 50% joint venture with Elkhorn Tunnels, LLC, in Montana, the Black Fox advanced
stage development project in Ontario, Canada, and the Huizopa project, an early stage
exploration project in the Sierra Madres in Chihuahua, Mexico.
Contact Information:
Investor Relations – Marlene Matsuoka
Phone: 720-886-9656 Ext. 217
E-mail: info@apollogold.com
Toll Free: 1-877-465-3484
Website: www.apollogold.com
FORWARD-LOOKING STATEMENTS
This press release includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States
Securities Exchange Act of 1934, as amended. The ability to discover an ore zone or, if an ore zone is discovered, the depth
potential of such ore zone, the ability to discover stacked vein sets, the susceptibility of the property to mining, the down dip
potential of the property, the ability of Apollo to expand the mapping, determine precious metal grades and the location of veins
and future plans and objectives of Apollo, are forward-looking statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual results to differ materially from these forwardlooking statements include: the outcome of assays and additional exploration sampling and drilling efforts, delay in permits or
approvals, delay in permits or approvals, technical or permitting problems, variations in ore grade, mining, or processing
problems or issues, the availability of funding on acceptable terms for the future exploration and development of Huizopa and
other Apollo mines and projects, and other factors disclosed under the heading “Risk Factors” and elsewhere in Apollo
documents filed from time to time with the Toronto Stock Exchange, The American Stock Exchange, The United States
Securities and Exchange Commission and other regulatory authorities.
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