Apollo Gold Appoints Melvyn Williams Senior Vice-President of Finance and Corporate Development.

Business Editors

DENVER--(BUSINESS WIRE)--Feb. 24, 2004

Apollo Gold Corporation (TSX:APG)(AMEX:AGT) is pleased to announce that Melvyn (Mel) Williams has been appointed the Senior Vice President Finance and Corporate Development and will work out of the Denver, Colorado, corporate office.

R. David Russell, President and CEO of Apollo Gold Corporation, announcing the appointment of Mel Williams, stated: "I am very pleased that a seasoned professional such as Mel has joined our small management team and brings excellent experience in corporate finance, the equity market as well as mergers and acquisitions. We now have all the senior personnel on board to enable us to move our company forward to its next level of growth and I look forward to working with Mel on this objective."

Mel Williams is a qualified accountant with an MBA and has over 25 years' experience within the mining industry, having held various financial positions in several countries, including 17 years with Rio Tinto, 11 years at their Rossing Uranium mine in Namibia and 6 years at the Neves Corvo mine in Portugal. More recently, between 1997 and 2003, Mel was employed by TVX Gold Inc. and in the last 3 years with them held the position of CFO, until the merger of TVX with Kinross Gold and Echo Bay.

Apollo Gold is a gold mining company with operating assets in Nevada and Montana and an advanced stage exploration project, the Black Fox Project, along the Destor-Porcupine fault near Timmins, 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 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 these forward-looking statements include: the results of independent 43-101 reports, the outcome of assays and additional sampling and drilling efforts, the availability of funding for the future exploration and development of Apollo Gold mines and or projects, and other factors disclosed under the heading "Risk Factors" 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.