Apollo Gold (AGT)

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***__NEWS OUT**:Apollo Gold Third Quarter 2009 Gold Production

Oct 5, 2009 08:16:00 (ET)


DENVER, Oct 05, 2009 (BUSINESS WIRE) -- Apollo Gold Corporation ("Apollo" or "we") (AGT, Trade ) is pleased to update the market on the third quarter 2009 gold production and progress at its Black Fox mine located near Timmins, Ontario.

We are pleased to report that during the three months of July through September 2009, the Black Fox mill processed approximately 161,000 tonnes of ore at an average grade of 4.1 grams of gold per tonne ore to produce an estimated 19,750 ounces of gold (recovery approximately 94%). The average mill throughput rate was therefore approximately 1,750 tonnes per day.


Black Fox Mill Jul-09 Aug-09 Sep-09 3rd Qtr
Tonnes Milled 49,400 54,800 56,800 161,000
Grade of Ore (grams/tonne) 3.8 4.2 4.2 4.1
Recovery 92.0% 95.0% 95.0% 94.0%
Gold Production - ounces 5,500 7,000 7,250 19,750


In addition to the gold production from the Black Fox mill, we had additional gold production from ore from the Black Fox mine that was milled at St Andrew Goldfields' ("SAS") Holt mill facility, located approximately 30 miles east of the Black Fox mine. As we previously announced on September 9, 2009, we have an agreement with SAS to toll mill approximately 100,000 tonnes of Apollo's Black Fox mine ore at SAS's Holt mill facility. As at September 30, 2009, the Holt mill had processed approximately 62,000 tonnes of Black Fox ore at an average grade of 1.9 grams of gold per tonne to produce an estimated 3,500 ounces of gold (recovery approximately 92%). Therefore, total gold produced by Apollo in the third quarter 2009 was an estimated 23,250 ounces.

R. David Russell, President and CEO of Apollo, stated: "We got off to a slow start in the third quarter producing about 5,500 ounces of gold in July as a result of experiencing ore grade control problems. During August, we saw an improvement in production, mainly due to the grade control programs we implemented during the month, and production rose to approximately 7,000 ounce of gold. September saw continued improvement with our estimated production being 7,250 ounces of gold. The third quarter was our first full quarter of production and we look forward to further improvements in the fourth quarter in ore control and throughput plus grades of ore."

Apollo Gold Corporation

Apollo is a gold mining and exploration company which operates the Black Fox mine in Ontario, Canada. Apollo also owns the Huizopa project, an early stage exploration project in the Sierra Madres in Chihuahua, Mexico and operates the Montana Tunnels mine, which is a 50% joint venture with Elkhorn Tunnels, LLC, in Montana, which was placed on care and maintenance on April 30, 2009.