Apollo Gold Corporation

Apollo Gold Corporation

January 04, 2005 06:43 ET

Apollo Gold Completes Cdn$750,000 Flow-Through Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: APOLLO GOLD CORPORATION

TSX SYMBOL: APG
AMEX SYMBOL: AGT

JANUARY 4, 2005 - 06:43 ET

Apollo Gold Completes Cdn$750,000 Flow-Through
Financing

DENVER, COLORADO--(CCNMatthews - Jan. 4, 2005) -

Apollo Gold Corporation ("Apollo" or the "Company") (TSX:APG) (AMEX:AGT)
is pleased to announce the completion on December 31, 2004, of the
offering of 714,283 flow-through common shares of the Company at
Cdn$1.05 per share for aggregate proceeds to Apollo of Cdn$750,000. The
gross proceeds from the sale of the flow-through shares will be used by
Apollo for exploration of Apollo's mineral properties at the Black Fox
project located near Timmins, Ontario, which expenses will qualify as
"Canadian Exploration Expenses" as defined in the Income Tax Act
(Canada) and which will be renounced in favor of the purchasers of the
flow-through shares effective on or before December 31, 2004.

About Apollo Gold

Apollo Gold is a gold mining company with operating mines in Nevada and
Montana, the Black Fox advanced stage development project in Ontario,
Canada, and the Huizopa Project an early stage exploration project in
the Sierra Madre Gold Belt in Chihuahua, Mexico.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Apollo Gold Corporation
    Dave Young
    VP Business Development
    720-886-9656 ext. 55 or Toll Free: 1-877-465-3484
    Email: info@apollogold.com
    Web site: www.apollogold.com