Apollo Gold Reports on Huizopa Exploration Project

Pursuant to the agreement, and in consideration for certainpayments to the Ejido, the Company has a right to use Ejido landcovering the 12,800 hectares of the Company's mining concessions inHuizopa for all activities necessary for the exploration, development,and production of potential ore deposits in our Huizopa project area.The Company may, in the future, apply for a change of use of landwithout any additional obligations to the Ejido. In addition, theCompany may traverse through adjoining and nearby Ejido land outsidethe boundaries of the Huizopa mining concessions for the purpose ofconstructing, operating, and maintaining improvements or facilitiesnecessary for the Huizopa project.

Apollo's President and CEO, R. David Russell, commented: "An Ejidois a fundamental Mexican political unit that operates at the rurallevel. Mexican law gives Ejidos control of surface access to specificdefined geographic boundaries. As such, Ejido consent is required toaccess land for mineral resource development at our Huizopa project.The Company has enjoyed strong support from the Ejido members and alsothe private land owners in our Huizopa project area who have along-term interest in the Company developing the region's miningpotential. This agreement was an important step that we had tocomplete in order to engage in future exploration and development atour Huizopa project."

The Company's exploration concessions are located in northernChihuahua, Mexico, within the Sierra Madre Gold Belt and encompass adistrict-size system of two sub-parallel, volcanic hosted vein systemscontaining gold-silver bearing quartz. The concessions are directlybetween two major precious metal deposits, i.e, the Mulatos Mine inthe state of Sonora (Alamos Gold Inc.) and the Dolores ore body in thestate of Chihuahua (Mine Finders Corporation Ltd.).

The eastern-most vein system, the Adelina Vein, is exposed over adistance of about 2 km, whereas the western-most vein system, theHuizopa-Escondida Vein, outcrops over a distance of about 5 km. Veinsare composed of predominantly quartz-adularia-calcite and alteredbreccia fragments of volcanic wall rocks. In most outcrops, the veinsexhibit classic vein textures consistent with low-temperatureepithermal conditions and suggest the veins are largely un-eroded withconsiderable ore zone depth potential. Surface exposures of silicifiedbreccia veins are up to 10 meters wide. Veinlets of quartz and/orcalcite around the veins form stock-work zones. Argillic alterationthat form "clay blooms" may extend away from the veins up to severaltens of meters. Within these "clay blooms" are additional silicifiedzones that may represent the narrow tops of poorly exposed veins.Hence, there is a reasonable expectation for the discovery of stackedvein sets.

Historically, the Huizopa area is reported to have producedhigh-grade gold-silver ore grading up to 40 grams gold and severalhundred grams silver and grab samples from several relict ore piles inthe area support these reported values. Targets include bothunderground and open pit type targets. Erosion has producedtopographic relief with some vein outcrops more than 200 meters abovethe valley base with areas of quartz stock-work veinlets and broadargillic alteration suggesting open pit potential. The high-levelnature of the quartz mineralogy in the veins suggest down dippotential for hundreds of meters.

As a result of the agreement with the Ejido, the Company expectsto commence a two-part exploration program in 2006, given thenecessary funds. During the second quarter 2006, the Company plans toexpand its geologic mapping to take in obvious mineralized structureson strike with the two main vein systems. To date, the Company hasmapped 2,200 hectares around the main veins systems. Geochemicalsampling will continue to better define drilling targets and locatenew target zones for gold-silver mineralization. Ground geophysicalsurveys will be conducted in several areas with favorable geologicexpressions. In the third quarter 2006, the Company plans to commencea diamond drilling campaign to determine precious metal grades and thevertical and horizontal extent of the veins. All field work will beconducted from the Company's on site field camp constructed adjacentto a renovated airstrip.

This press release has been reviewed and approved for release byRichard Nanna, Professional Geologist, Apollo's Senior Vice-President,Exploration and Development and designated "Qualified Person" under NI43-101.

Apollo Gold Corporation

Apollo is a gold mining and exploration company with a mine inMontana, the Black Fox advanced stage development project in Ontario,Canada, and the Huizopa Project, an early stage exploration project inthe Sierra Madre Gold Belt in Chihuahua, Mexico.

Forward-Looking Statements

This press release includes certain "Forward-Looking Statements"within the meaning of section 21E of the United States SecuritiesExchange Act of 1934, as amended. All statements regarding potentialchange of use of land, continuing good relations with representativesof the Ejido, the ability to discover an ore zone or, if an ore zoneis discovered, the depth potential of such ore zone, the ability todiscover stacked vein sets, the susceptibility of the property to openpit mining, the down dip potential of the property, the ability of theCompany to expand the mapping, determine precious metal grades and thelocation of veins and future plans and objectives of Apollo, areforward-looking statements that involve various risks anduncertainties. There can be no assurance that such statements willprove to be accurate and actual results and future events could differmaterially from those anticipated in such statements. Importantfactors that could cause actual results to differ materially fromthese forward-looking statements include: the results of independentCanadian NI 43-101 reports, the outcome of assays and additionalexploration sampling and drilling efforts, delay in permits orapprovals, technical, delay in permits or approvals, technical orpermitting problems, variations in ore grade, mining, or processingproblems or issues, the availability of funding on acceptable termsfor the future exploration and development Huizopa and other Apollomines and projects, and other factors disclosed under the heading"Risk Factors" and elsewhere in Apollo documents filed from time totime with the Toronto Stock Exchange, The American Stock Exchange, TheUnited States Securities and Exchange Commission and other regulatoryauthorities.