Apollo Gold Announces Underground Core Drilling Starts at Black Fox.

Business Editors

DENVER--(BUSINESS WIRE)--April 7, 2004

Apollo Gold Corporation (AMEX:AGT) (TSX:APG) ("Apollo Gold" or the "Company") is pleased to announce that the underground core drilling program from the 235 meter level at the Black Fox project near Timmins, Ontario, Canada, started in April 2004.

The previously announced underground drilling program is scheduled to drill 78,000 meters at an estimated cost of US$3,000,000.

Richard Nanna, Senior Vice-President of Exploration and Development for Apollo Gold, stated: "A bidding process for the contract drilling program was completed with the contract awarded to Garant Bros. Diamond Drilling, Inc. of Evain, Quebec, Canada. Garant subsequently mobilized the drill rigs and was drilling underground with two rigs by April 5, 2004. The underground drill program from the 235 meter level, scheduled to be completed in 2005, calls for up to four drill rigs to be working at one time. The underground drilling program is an important step in adding to our further understanding of the Black Fox deposit, especially at depth."

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

Apollo Gold is a gold mining company with operating mines in Nevada and Montana and an advanced stage development project, Black Fox, along the productive Destor-Porcupine Fault east of the Timmins Gold Camp in Ontario, Canada.

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, 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 these forward-looking statements include: the outcome of assays and additional exploration sampling and drilling efforts, delay in permits or approvals, technical or permitting problems, unanticipated drilling problems or costs, variations in ore grade, and other factors disclosed under the heading "Risk Factors" in Apollo Gold's 10-K for the year ended December 31, 2003, and elsewhere in Apollo Gold 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.