Apollo Gold Ltd ASX: AOO

1
Apollo Gold Ltd (ASX AOO)

• 71.7m shares (30.6m 20cent options, Nov 2005)

• Market cap A17m

• Laverton Gold project

• lt100,000 oz mineable resource

• gt600,000 oz inferred resource

• 1mtpa mill, refurbishment 3m to re-start

• AOO 20 owned by Directors, management

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Why Apollo?

• Capitalised at A20/oz resource

• Emerging producer

• 10m cashflow located so far

• searching for another 10m!

• Subject to Anglo swap - Sickle

• No Debt

• Unhedged

• Low country risk W Australia

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Initial Project Study (PVS 1)

• Confirm gt100,000 ozs, re-start the mill

• 600,000 tpa refurbishment for 1.5m, or 1mtpa
  for A3m

• Production within 12 months of listing

• Howeveradditional projects may improve economics

• further investigation required

• possible different (larger) scale of project.
  worth a delay?

• we believe so.

4
Excellent Infrastructure

• 1mtpa mill under care and maintenance

• 5km away from Laverton townsite

• Accommodation and mine site offices in place

• 4 hrs drive north of Kalgoorlie

• 4km to Grid Electricity

• Sealed road, all weather access

• Refurbishment study near completion

• Water studies and permitting near completion

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Laverton Belt

• 28m ozs discovered so far

• 5 major discoveries so far

• Opportunity for more

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PVS II ?

• Investigate/interpret large tonnage deposits

• Low grade, shallow, soft

• low strip ratio

• Possible low cost ozs, at a larger scale of
  operation

• Could require a larger scale mill crushing
  circuit

• Is the 1mtpa milling scenario most efficient ?

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Ida H open in all directions?
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Ida H a different scope?

• 5km of old workings at surface

• 1km strike of old workings, down to 250m vertical

• Bonanza shoot, 1-20 ozs/t to 475m vertical, 100m
  long

• open at depth

• shallow drilling only

• Possible 10g/t target over considerable strike

• Multiple loads evident, but not investigated

• 15km of continuous mineralisation in the
  Barnicoat Shear

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Ida H 3D image of drill targets
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Ida H

• Worked 1890s -1920s

• Minimal work since

• Major gold bearing structure

• open cut for mill feed

• Negligible drilling below 100m

• AOO exploring for gt10g/t

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Ida H Long section U/G
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Admiral Hill

• 11mt _at_ 1 g/t inferred 300,000 ozs

• Shallow, mostly lt90m deep

• 500 drill holes