Apollo Gold Corporation Appoints John Haflidson as Project Manager for the Black Fox Project.

Business Editors

DENVER--(BUSINESS WIRE)--Jan. 15, 2004

Apollo Gold Corporation (AMEX:AGT) (TSX:APG) is pleased to announce that John Haflidson has been hired as the Project Manager for the Black Fox Project.

John will be responsible for the underground exploration project, feasibility studies and other projects associated with the Black Fox Project near Timmins, Ontario, Canada.

John Haflidson has over 30 years of mining experience including nine years as General Manager of the nearby Holt-McDermott Mine and Mill complex owned and operated by Barrick Gold Corporation. During John's tenure at Holt, gold production was increased from 60,000 oz to 130,000 oz per year, milling capacity was substantially increased and two major underground capital projects were successfully completed. Excellent safety and environmental performances were also achieved.

R. David Russell, President and CEO of Apollo Gold, commenting on John's appointment, stated: "Apollo Gold is taking an important 'next step' in the development of the Black Fox Project by appointing John Haflidson as the Project Manager. The underground exploration drift, subsequent development drilling, and additional feasibility studies will allow the Company to delineate the next portion of the underground ore resource/reserves for the project. Bringing on highly qualified and experienced people such as John will bring us closer to the reality of developing a successful open pit and underground mine."

Mr. Haflidson is a professional mining engineer with varied experience in the mining industry including several mine start-ups. His initial responsibilities will include managing activities for the upcoming underground exploration project, along with mine design and feasibility work.

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 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.