Apollo Gold Announces Timing of the Release of Updated Ore Reserve and Resource Information for its Black Fox Project

    DENVER, June 29 /CNW/ - Apollo Gold Corporation ("Apollo") (AMEX:   AGT)
(TSX: APG) is pleased to announce that an updated Canadian National Instrument
43-101 compliant ore reserve and resources for the Black Fox Open Pit and
Underground Project has been completed by SRK Consultants, Denver, Colorado,
as of June 29, 2007. A press release updating the market on the reserves and
resources as well as the project, pre-feasibility level, and financial
economics will be released on Monday morning July 2, 2007, pre-market open.

    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.

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


    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 the expected date of
completion of the latest ore reserve calculation and the nature of that
calculation 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: the results of independent Canadian NI 43-101 reports, the outcome of
assays and additional exploration sampling and drilling efforts, 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 Investor Relations:
Marlene Matsuoka, 720-886-9656, ext. 217 Toll Free: 1-877-465-3484
info@apollogold.com www.apollogold.com

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