Apollo Gold Updates Investment Community in an All-New Interview with WallStreet Reporter



    DENVER, September 21 /CNW/ - On September 17, David Russell, CEO of
Apollo Gold Corporation ("Apollo" or the "Company") (TSX: APG) (AMEX:   AGT)
updated the investment community in an all-new interview with WallStreet
Reporter. Interview highlights include detailed discussions on the following
topics:

    --  Apollo Gold was cash flow positive in the 2nd quarter 2007 with $2.4
million in net income. "We had revenue just short of $13 million," says CEO
David Russell. "We're looking forward to more good quarters."

    --  The Montana Tunnels Mine came back into production as of March 1,
2007. "The mine performed well in the 2nd quarter and was cash flow positive,"
Russell said. "The 3rd quarter mine operations are progressing as expected. We
expect the mine to continue on this trend as the Company's primary revenue and
cash generator."

    --  Russell updates on the advanced-stage exploration Black Fox Project
("Black Fox") located near Timmins, Ontario, Canada, the new Canadian National
Instrument (NI) 43-101, pre-feasibility study with 1,002,000 ounces of gold in
reserve and the current infill drilling project.

    --  In addition to the Black Fox gold reserves, there was additional gold
resource material reported within the indicated (1) and inferred (2)
categories. The gold resources reported in the indicated category, in the open
pit, were 997,000 tonnes @ 4.5 g/t and in the underground were 667,000 @ 10.1
g/t. There was also an inferred resource of 3,256,000 tonnes @ 4.7 g/t in the
open pit and 929,000 tonnes @ 12.3 g/t in the underground.

    --  At Black Fox, a third-party consultant, SRK Consulting, Inc. ("SRK"),
of Denver, Colorado, has commenced work on a bankable feasibility study which
is expected to be completed in the first quarter of 2008.

    --  The exploration project, Huizopa, located in a well known silver-gold
district in Chihuahua, Mexico, is poised for road building and exploration
drilling.

    To hear the interview in its entirety visit
http://wallstreetreporter.com/page.php?page=featured&tab=2&id=26681.

    Or visit: http://wallstreetreporter.com and click on the Metals Minerals
section.

    This press release has been reviewed and approved for release by Mr.
Richard Nanna, Professional Geologist, Apollo Gold's Senior Vice-President,
Exploration and Development. Mr. Nanna is designated a "Qualified Person"
under NI-43-101.

    Since we report our mineral reserves to both NI 43-101 and SEC Industry
Guide 7 standards, it is possible for our reserve figure to vary between the
two. Where such a variance occurs it will arise from the differing
requirements for reporting mineral reserves. For example, the NI 43-101 has a
minimum requirement that reserves be supported by a pre-feasibility study,
whereas SEC Industry Guide 7 requires support from a full feasibility study
done to bankable standards. The Black Fox project thus reports reserves under
NI 43-101, but reports no reserves under SEC Industry Guide 7 as a final
bankable feasibility study has not been completed.

    (1) Cautionary Note to U.S. Investors concerning estimates of Indicated
Mineral Resources. This press release uses the term "indicated mineral
resources." We advise U.S. investors that while the term is recognized and
required by Canadian regulations, the U.S. Securities and Exchange Commission
does not recognize it. U.S. investors are cautioned not to assume that any
part or all of the mineral deposits in these categories will ever be converted
into mineral reserves.

    (2) Cautionary Note to U.S. Investors concerning estimates of Inferred
Mineral Resources. This press release uses the term "inferred mineral
resources." We advise U.S. investors that while the term is recognized and
required by Canadian regulations, the U.S. Securities and Exchange Commission
does not recognize it. "Inferred mineral resources" have a great amount of
uncertainty as to their existence, and great uncertainty as to their economic
and legal feasibility. It cannot be assumed that all or any part of an
inferred mineral resource will ever be upgraded to a higher category. In
accordance with Canadian rules, estimates of inferred mineral resources cannot
form the basis of feasibility or other economic studies. US investors are
cautioned not to assume that part or all of the inferred mineral resource
exists, or is economically or legally minable.

    Apollo Gold Corporation

    Apollo is a gold mining and exploration company which operates the
Montana Tunnels Mine, which is a 50% joint venture with Elkhorn Tunnels, LLC,
in Montana, the Black Fox advanced stage development project in Ontario,
Canada, and the Huizopa project, an early stage exploration project in the
Sierra Madres in Chihuahua, Mexico.

    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," "predicts," "intends," "continue," or the negative of such terms,
or other comparable terminology. All statements regarding future production at
and cash flows from the Montana Tunnels mine, estimated reserves and
resources; assumptions regarding development of a mine at Black Fox and the
timing of mining and processing operations at Black Fox; completion and timing
of a bankable feasibility study regarding Black Fox and future development at
Huizopa, including road building and exploration drilling. 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: the results of
independent Canada NI 43-101 reports, the outcome of assays and additional
exploration sampling and drilling efforts; delays in completing or less
favorable than anticipated results of a bankable feasibility study on Black
Fox; increases in anticipated cash costs, operating costs, mining costs,
capital expenditures and other costs; decreases in anticipated plant gold
recoveries and gold prices; delays or problems in construction, permitting and
start-up; variations in ore grade, mining, or processing problems or issues,
and other factors disclosed under the heading "Risk Factors" and elsewhere in
Apollo documents filed from time to time with the Toronto Stock Exchange, The
American Stock 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.




For further information:

For further information: Apollo Gold Corporation Marlene Matsuoka,
720-886-9656, ext. 217 Toll-Free: 877-465-3484 info@apollogold.com
www.apollogold.com

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APOLLO GOLD CORPORATION

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