Apollo Gold Corporation Appoints New General Managers at the U.S. Operations.

Business Editors

DENVER--(BUSINESS WIRE)--Feb. 18, 2004

R. David Russell, President and CEO, Apollo Gold Corporation (AMEX:AGT) (TSX:APG), announced that new General Managers have been appointed at the U.S. Operations.

These appointments represent the Company's continued efforts to strengthen operations and to better position Apollo to take advantage of significant growth opportunities. "We need to have the strongest core management team possible in place in order to bring the Black Fox Mine into production and continue to strengthen our current operating mines in the U.S. To further position ourselves to grow the company and meet the expectations of the many different stockholders in Apollo Gold, these changes and additions are necessary," stated Russell.

Tim Janke, VP and General Manager, Florida Canyon Mining Inc., has been appointed with the responsibilities for Apollo's Nevada operations, including the continued operation of the Florida Canyon Mine, the construction and development of the new Standard Mine and other exploration opportunities. Janke previously held a number of international positions with Barrick Gold Corporation and Homestake Mining Company. He has more than 25 years of experience in operations, project management, technical services and acquisitions.

Tim Smith, VP and General Manager, Montana Tunnels Mining Inc., recently joined Apollo to improve the operating performance standards for the Montana property. Smith comes to the company with an extensive background, including most recently the TeckCominco Red Dog mine in Alaska. He also worked for Cominco LTD, Princeton Mining and Teck Corporation. His 25 years of mining experience includes an extensive metallurgy, concentrator, and mine operations background.

Mr. Janke and Mr. Smith will both report to Wade Bristol, Vice President -- Operations for Apollo Gold. In commenting on the appointments: "Both of our operating mines have gone through numerous changes over the past few months to improve efficiencies and add to the life of the operations. The addition of seasoned mining management to our operations further insures that Apollo will continue to improve the mines and add value to the company through continued operational improvements," stated Bristol.

The previously announced appointment of John Haflidson, Project Manager, Black Fox Mine, Haflidson has spent more than 30 years in all aspects of mining including operations, shaft sinking and mine expansion. His experience includes various positions, including general manager of Barrick Gold's Holt McDermott Mine, Cementation Skanska, J.S. Redpath, AUR Resources, Noranda, INCO and Texas Gulf Ltd.

In addition, Eric Berentsen was appointed as the Chief Geologist for Apollo Gold. Eric will continue to be responsible for mine site geology, exploration geology and grass roots exploration on a company-wide basis. A key role will be the continued development of the Black Fox project. Berentsen has over 25 years of experience and has worked in several mine and exploration positions in Nevada and the U.S. and was instrumental in identifying and developing a major multi-million ounce reserve/resource in the northern part of Nevada.

Richard Nanna, Vice President of Exploration and Development, commented: "As the Black Fox Project exploration program continues to show gold mineralization near surface and at depth the next step is more detailed core drilling. The previously announced underground exploration drift will allow the core drill program to continue for the project. Hiring highly qualified management personnel with experience in the district such as John Haflidson will prove invaluable as we move the Black Fox project along into the full feasibility study and core-drilling program and beyond. Eric Berentsen has been working on the Black Fox Project since Apollo Gold acquired the project in the fall of 2002 as well as other Apollo Gold exploration projects. Eric will continue to add his insight and experience to our projects." Mr. Haflidson and Mr. Berentsen will both report to Richard Nanna.

Apollo Gold is a gold mining company with operating mines and projects in Nevada and Montana and an advanced stage exploration project, the Black Fox Project, along the 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 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.