Apollo Gold Announces Continuation of Grass Roots Exploration for 2003/2004 in Northern Nevada.

Business Editors

DENVER--(BUSINESS WIRE)--Oct. 15, 2003

Apollo Gold Corporation (AMEX:AGT) (TSX:APG) (the Company) is pleased to announce the continuation of its grass roots exploration program in Northern Nevada.

Exploration activities will include soil geochem surveys, sample collection, mapping and an initial 10,200 feet of reverse circulation drilling. "Grass roots is an important part of the growth and life cycle of a mining company," commented R. David Russell, the Company's President and CEO. "We have been busy over the last year with our advanced exploration projects and operating assets; it is time that we get back to our exploration activities and show a balanced approach for future growth."

Apollo has two large holdings in Northern Nevada that were brought into the Apollo Gold merger with Nevoro in April 2002 and has staked several other new claim blocks. Reconnaissance work in the area revealed a possible area of oxide gold with similarities to the Company's Florida Canyon Mine as well as several higher-grade targets that need further evaluation. Visible gold flakes on the surface, favorable geology consisting of low angle thrust faults, stockwork quartz veining, and iron oxide formations all indicate favorable conditions for potential gold deposits.

Richard Nanna, Vice President, Exploration for Apollo Gold, stated: "These projects are part of the Company's grass roots land package and will require extensive investigation over the next few months. These projects are all in favorable geological areas for gold discovery in the Northern Nevada area. It is an exciting time for the Company to be able to move these projects ahead."

"This exploration effort will be in addition to the development drilling announced earlier that is taking place at the Florida Canyon and Standard Mine operations," says Nanna. "It is our intent to balance our efforts to bring in new gold producing assets as well as continue to develop our current reserves and resource base."

This press release has been reviewed and approved for release by Richard Nanna, Professional Geologist, and the Company's Vice-President, Exploration and designated Qualified Person.

Apollo Gold is a gold mining company with operating assets in Nevada and Montana and an advanced stage exploration project, the Black Fox Project, near Matheson, Ontario, Canada. The company also has significant property positions for grass roots exploration in Nevada.

Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Apollo Gold, 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 Apollo Gold expectations are disclosed under the heading "Risk Factors" and elsewhere in Apollo Gold documents filed from time to time with the Toronto Stock Exchange, The United States Securities and Exchange Commission and other regulatory authorities.