Apollo Gold Corporation Announces the Resumption of Development Drilling at the Standard Gold Mine In Nevada.

Business Editors

DENVER--(BUSINESS WIRE)--Oct. 7, 2003

Apollo Gold Corporation ("Apollo Gold") is pleased to announce the resumption of the development drilling program at the Standard Gold Mine near Apollo Gold's Florida Canyon Mine in Nevada.

The Standard Gold Mine project will be an oxide gold, open pit, heap leach mine project.

The initial development drilling program at the Standard Mine, which was completed in the fourth quarter of 2002, resulted in Apollo Gold converting over 318,000 ounces of gold to the proven and probable reserve category as of December 31, 2002. Mine Development Associates, an independent mining engineering company, prepared an audit of these reserves in compliance with Canadian National Instrument 43-101. Mr. Richard Nanna, Vice President of Exploration for Apollo Gold, stated, "The resumption of the Standard Gold Mine development drilling program could result in additional resources being placed into the proven and probable category in the fourth quarter of 2003 and continuing into 2004." Apollo Gold's current plan is to drill approximately 18,700 feet of reverse circulation development drilling in the fourth quarter of 2003 and approximately 24,000 feet in 2004. The entire program is currently expected to cost approximately US$600,000, and the project is still in the permitting phase with the initial permits anticipated in 2004.

About Apollo Gold Corporation

Apollo Gold Corporation (AMEX:AGT) (TSX:APG) is a gold producer, with two operating mines in the United States and several exploration properties in the United States and 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 and resources, 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's expectations include the results of independent reports, the outcome of assays and additional sampling and drilling efforts, the availability of funding for future exploration, the development of Apollo Gold mines and/or projects, and other factors disclosed elsewhere in Apollo Gold's documents filed from time to time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.