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To: LoneClone who wrote (38431)	6/11/2009 6:29:25 PM
From: LoneClone	Read Replies (1) \| Respond to of 194964

Apollo Gold Announces New Discovery at Its Grey Fox Property Located 3.5 Kms Southeast of Its Black Fox Mine Apollo Gold Corporation APG 6/11/2009 5:50:00 PM DENVER, Jun 11, 2009 (BUSINESS WIRE) -- stockhouse.com Apollo Gold Corporation ("Apollo" or the "Company") (TSX: APG) (NYSE Amex: AGT) is pleased to provide the drilling results of the Company's initial diamond drilling program on its Grey Fox property. This program encountered several high grade gold intercepts, including hole 10 which contained 3.5 meters (11 feet) grading 455 grams per tonne of gold (13.25 ounces per ton). The full results of the drilling are found in the table below. The Grey Fox property is located about 3.5 kilometers southeast of Apollo's Black Fox mine and sits along the Destor Porcupine Fault Zone in the Timmins Mining District of Ontario. Apollo's Black Fox mine commenced gold production in May 2009. The exploration drilling program was conducted by Norex Drilling Ltd., of South Porcupine, Ontario, and the program was designed to test two targets on the Grey Fox property, (1) the "Contact Zone" and (2) the Destor Porcupine Fault Zone ("DPFZ"). Sixteen holes (3,715 meters) were drilled targeting mineralization less than 300 meters deep. Fourteen of the sixteen holes intercepted mineralization with grades higher than one gram per tonne. The other two holes, drill holes number five and thirteen, also intercepted mineralization but with assays less than one gram per tonne. The result of the drilling is shown in the tables below: Grey Fox assays higher than 1 grm per tonne Hole From To Core Width True Width Assay grams Assay ounce ID (m) (m) (m) (m) Au/tonne Au/ton 1 65.0 72.0 7.00 6.18 1.74 0.051 96.7 100.7 4.00 3.53 1.15 0.034 104.1 113.5 9.40 8.30 5.26 0.153 2 86.0 87.5 1.50 1.04 1.02 0.030 90.3 91.3 1.00 0.69 2.17 0.063 104.0 105.5 1.50 1.04 4.63 0.135 108.5 110.0 1.50 1.04 4.90 0.143 139.7 142.7 3.00 2.08 1.62 0.047 205.6 235.0 29.40 20.42 2.40 0.070 247.0 254.5 7.50 5.21 2.66 0.078 3 201.0 203.0 2.00 1.46 2.45 0.071 222.8 227.0 4.20 3.07 1.50 0.044 239.0 240.0 1.00 0.73 1.39 0.041 268.5 270.0 1.50 1.10 2.87 0.084 4 224.2 225.4 1.20 1.06 5.62 0.164 256.7 258.9 2.20 1.94 1.10 0.032 6 56.0 59.0 3.00 2.98 1.79 0.052 87.5 90.0 2.50 2.49 10.56 0.308 143.0 146.0 3.00 2.98 1.87 0.055 180.5 182.0 1.50 1.49 1.03 0.030 183.5 185.0 1.50 1.49 1.04 0.030 219.5 224.0 4.50 4.48 1.09 0.032 233.0 236.0 3.00 2.98 2.24 0.065 7 40.5 52.3 11.80 11.09 15.49 0.452 113.0 119.0 6.00 5.64 4.05 0.118 158.0 161.0 3.00 2.82 9.88 0.288 257.0 260.0 3.00 2.82 2.89 0.084 8 26.5 30.5 4.00 4.00 1.37 0.040 9 29.0 32.2 3.20 2.73 4.79 0.140 10 49.0 50.0 1.00 0.83 4.13 0.120 51.5 55.0 3.50 2.90 455.18 13.276 60.1 61.9 1.80 1.49 1.28 0.037 11 74.0 75.4 1.40 1.19 2.07 0.060 106.1 107.6 1.50 1.27 1.01 0.029 12 50.0 53.0 3.00 2.57 1.37 0.040 14 82.0 93.5 11.50 11.44 4.07 0.119 203.0 204.0 1.00 0.99 3.02 0.088 15 20.9 24.8 3.95 3.93 9.04 0.264 16 24.6 25.6 1.00 0.99 1.04 0.030 Assays were performed by Swastika Laboratory. Universal Transverse Mercator Hole ID True Northing Easting Elevation Azimuth Inc. Depth Degrees 1 221.00 5372924.59 551127.14 291.12 270.00 -48.00 2 300.00 5372924.53 551129.29 290.86 270.00 -66.00 3 296.00 5372918.64 551186.89 290.98 270.00 -63.00 4 326.00 5372839.51 551229.94 291.09 270.00 -48.00 6 269.00 5373000.70 551189.01 290.99 270.00 -56.00 7 362.00 5373000.81 551188.29 291.09 270.00 -70.00 8 137.00 5373000.03 551040.07 291.01 270.00 -45.00 9 101.00 5372950.22 551049.85 291.83 270.00 -51.50 10 122.00 5372899.83 551069.56 291.89 270.00 -54.00 11 109.00 5372747.75 551100.33 291.85 270.00 -52.00 12 101.00 5372655.84 551088.23 293.13 270.00 -51.00 14 300.00 5372646.98 551219.89 291.99 270.00 -54.00 15 452.00 5372837.23 551932.43 290.08 40.00 -54.00 16 200.00 5372768.18 551919.81 290.09 40.00 -53.00 Richard F. Nanna, Senior Vice President-Exploration, said, "The above drilling results are some of the highest grade intercepts drilled in the area and show the potential of Grey Fox. I believe that it is an area with at least two strongly mineralized systems. At the Contact Zone, gold occurs at the fault contact between pyritic, altered hydrothermal breccias and pyritic silicified and altered Pre-Cambrian sediments. Drilling on the DPFZ hit green carbonate rocks and gold mineralization similar to the host rocks of the Black Fox deposit. The above initial drilling campaign was a success and we will now commence with a 2009 drilling program to enhance these results with the objective of converting this data into a resource." This press release has been reviewed and approved for release by Richard F. Nanna, Professional Geologist, Apollo's Senior Vice President-Exploration and designated "Qualified Person" under National Instrument 43-101. Apollo Gold Corporation Apollo is a gold mining and exploration company which operates the Black Fox mine in Ontario, Canada, and the Huizopa project, an early stage exploration project in the Sierra Madres in Chihuahua, Mexico. Apollo also owns 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. FORWARD-LOOKING STATEMENTS This press release includes "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "schedules," "predicts," "intends," "continue," or the negative of such terms, or other comparable terminology. All statements regarding timing of future drilling programs and resources at Grey Fox 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 forward-looking statements include: unexpected changes in business and economic conditions, political or economic instability, significant decreases in gold prices, changes in interest and currency rates, local and community impacts and issues, labor accidents, environmental risks and other factors disclosed under the heading "Risk Factors" in Apollo's most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Apollo's documents filed from time to time with the Toronto Stock Exchange, The NYSE Amex exchange, The United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements included in this press release are based on information available to Apollo on the date hereof. Apollo assumes no obligation to update any forward-looking statements. SOURCE: Apollo Gold Corporation Apollo Gold Corporation Marlene Matsuoka, 720-886-9656 Ext. 217 Toll Free: 1-877-465-3484 Investor Relations ir@apollogold.com www.apollogold.com