Home » Apollo Minerals (AON) » Apollo Minerals – September 2018 Quarterly Report

Apollo Minerals – September 2018 Quarterly Report

Completed transaction to increase ownership of Couflens Project to 100% and commenced the re-installation of mine services

HIGHLIGHTS FROM THE SEPTEMBER 2018 QUARTER

• Completed the acquisition of the remaining 20% interest in the Couflens Project in France which includes the historical high grade Salau tungsten mine

• Commenced with a program to reinstall mine services at Salau. With the exception of ventilation, all work on the main level 1230 has now been completed

• Received firm bids from a shortlist of drilling contractors for the initial drilling campaign to test multiple high-grade tungsten and gold targets within the mine

• Commenced with geophysics programs to assist with the definition of exploration targets and to improve the Company’s understanding of regional geological structures

• Commenced baseline environmental impact assessment studies initially focused on water sampling • Strengthened local community relationships with a ceremony at site to commemorate the start of works, attended by former miners and senior local politicians

• Held introductory meetings with the newly appointed Prefect of Ariege

• The Couflens Project continues to deliver increasing economic and social benefits to the local region as the Company hired more local staff and contracted more local businesses for construction and study work

• Submitted plans in support of the final phase of health and safety risk assessments within the historical mine environment. The assessments will be conducted after the reinstallation of mine services and are subject to approvals

• Tungsten prices ended the quarter at US$284/mtu

LOOKING AHEAD

Salau Mine Area:

• Interpret geophysical data obtained from initial program and submit applications for further work • Review drilling proposals, select preferred bidder and submit drill program applications after the completion of health and safety risk assessments 2

• Complete the program to reinstall mine services after relevant approvals have been obtained • Continue with the final phase of health and safety risk assessments

• Advance applications for drilling at the Aurenere project in Spain as part of the ongoing Investigation Permit application CORPORATE:

• The Company held A$4.4 million in cash and no debt at the end of the quarter

For further information please contact:

Hugo Schumann Robert Behets

Tel: +44 207 478 3900

Tel: +61 8 9322 6322

Email: info@apollominerals.com


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