Apollo Minerals Limited announced an initial Exploration Target for the Company's 100% owned Kroussou Zinc-Lead Project Globally significant initial Exploration Target defined at Kroussou; Initial Exploration Target has been defined from only six of the 23 Target Prospects; Zinc and lead mineralisation is shallow across the target areas with an average depth of only 15 metres, potential for simple open pit mining extraction; Excellent metallurgy confirmed, high recoveries and quality saleable zinc and lead concentrates; High confidence in further discoveries across the province scale Project and strong potential for growth with further drilling; Initial Exploration Target outlines potential for Kroussou to host a globally significant base metal endowment; Next steps include expansion of exploration into the newly acquired Keri permit, ranking and drilling of high-priority targets and exploration of other Target Prospects. The initial Exploration Target has been prepared and reported in accordance with the JORC Code (2012) and consists of between approximately 140 and 300 million tonnes at a grade between 2.0% and 3.4% zinc plus lead. The potential quantity and grade of the Exploration Target is conceptual in nature.

There has been insufficient exploration to estimate a Mineral Resource for the target area reported. It is uncertain if further exploration will result in the estimation of a Mineral Resource. Kroussou is located in south-west Gabon on the central west African coast.

The Project is approximately 220km south of the capital Libreville within the Ngounié Province and consists of two permits (G4-569 and G4-456) which are 100% owned by the Company and covers 2,363km2. Kroussou features a 135km strike length along the prospective contact between the Cretaceous Cotier Basin to the west and Archaean/Proterozoic basement to the east. Historical discovery of multiple zinc-lead ("Zn-Pb") mineral occurrences in the southern 85km of the Project (permit G4- 569) has validated the province-scale potential of the Project and the Company has recently identified additional targets in the newly granted northern prospect (G4-456).

Twenty-three zinc-lead Target Prospects have now been identified at Kroussou of which only six have been drill tested. To identify the significance of the exploration and development opportunity at Kroussou, the Company commissioned the independent mining consultancy ResourcesWA Pty Ltd. ("ResourcesWA") to estimate an initial JORC compliant Exploration Target. The initial Exploration Target was estimated across only the six Target Prospects at Kroussou where modern diamond drilling has been completed.

In addition to the modern drilling data, these six Target Prospects also have geological mapping, geochemical (soils) and geophysical (airborne electromagnetic ("AEM"), airborne magnetics and/or passive seismic) datasets to support the geological models. These combined data sets were used by ResourcesWA to create a geological and mineralisation concept model across the six Target Prospects and to define the initial Exploration Target. Benchmarking of the initial Exploration Target for Kroussou demonstrates the Project has the scale potential to be a `Super Giant' deposit with a conceptual approximate metal endowment range of 4.8Mt to 5.8Mt of contained Zn+Pb metal from only six of the 23 Target Prospects.

This endowment range ranks the Project as having significant potential when compared to other zinc-lead deposits. The Project is centred on an NNE trending basin contact defined by Cretaceous sediments overlying the basement lithologies with long kilometre-scale embayments or paleochannels of Cretaceous sediment running broadly east-west into the basement. The mapped contact broadly conforms with present day topography implying that the current topography has been strongly controlled by the Cretaceous paleo-topography with present-day valleys over Cretaceous valleys.

To date, 23 Target Prospects have been defined at Kroussou. Basement rocks are comprised of crystalline granite gneiss units of Archaean and Proterozoic age. The granite and gneiss units can be foliated, felsic in nature with a high proportion of biotite and are typically found with disseminated marcasite/pyrite and variable chlorite alteration from paleo- weathering events.

The overlying Cretaceous sediments within the embayments/paleochannels are siliclastic in nature comprised of flat lying siltstone, sandstone, carbonate and conglomerate units. The sedimentary units are well graded with sandstones varying in grainsize from fine to coarse and conglomerates containing up to cobble sized rounded and sub-angular clasts. Mineralised embayments tested to date have found the eastern portions are shallow ranging from 10-80m in depth and then out to the western edges of the embayments the central portions are ~100-150m deep.

Base metal sulphide mineralisation has been mapped at the surface with the average depth of the main mineralised horizon ~10-40m below surface Mineralisation at Kroussou is comprised of sphalerite (zinc sulphide, ZnS), galena (lead sulphide, PbS) +/- marcasite (iron sulphide, Fe2S) that is predominantly strata-bound and generally hosted within coarse sandstone or conglomerate sedimentary units. Structurally hosted mineralisation has been noted in core comprised of breccia zones and sub-vertical veins as discovered recently at TP13 Stratabound mineralisation is interpreted to be hosted within a series of broad `mineralised horizons' with multiple units of sandstone, conglomerates, siltstone and carbonate units forming an overall lower-grade mineralised halo (>0.5% Zn+Pb) with higher- grade mineralised halos (>1-2% Zn+Pb) also present. No significant oxidation or weathering profile has been noted to date at Kroussou in the areas with drilling apart from the thin loess horizon (1m to 5m thick) that is common in Gabon, based on the Company's interpretation that the sulphide mineralisation is prevalent from surface to the base of the embayments.

Recent metallurgical test work has demonstrated recoveries of 93% and 94% for Zn and Pb respectively at recovered grades of 53% for Zn and 70% for Pb at TP11 (Dikaki). Example cross sections displaying mineralisation and geology encountered at some of the Target Prospects The Exploration Target was estimated on Target Prospects where there was a combination of modern diamond drilling, geological mapping, geochemistry (soils) and geophysical data sets and/or passive seismic) which could support the geological and mineralisation concept model.