Apollo Gold Announces Additional Assay Results for its Grey Fox

Drilling Program and Commences Drilling at Pike River

December 18, 2009 - Apollo Gold Corporation ("Apollo" or “we’) (TSX:

APG) (NYSE Amex: AGT) is pleased to provide an update on the 2009 drilling program in

progress on its Grey Fox property. This year’s drilling at Grey Fox follows up the drilling

program of 16 holes completed and released by Apollo in 2008. The 2009 drilling program

commenced in August of 2009 and to date 53 holes have been completed. Assay results were

released on the first 17 holes (GF09-17 through GF09-34) in previous press releases. Apollo is

pleased to provide assay information on another six drill holes (GF09-35 through GF09-40)

which are shown on Table One. The location and description of the drill holes are shown on

Figure One and Table One.

The results continue to show continuity in multiple shallow, mineralized zones. We have

highlighted the mineralized zones in the results shown in Table One and also show the individual

assays that make up the zone immediately above the highlighted zone.

The Grey Fox project is located about 3.5 kilometers southeast of Apollo’s Black Fox mine,

which commenced gold production in May 2009. Apollo now controls a 17 square kilometer

land package which consists of (a) the Black Fox mine, (b) the Pike River property which is

southeast of the Black Fox mine and (c) the Grey Fox property which is southeast of the Pike

River property. Figure Two shows the total Apollo land package surrounding its Black Fox

mine.

Previously released drilling results shows that Apollo has been successful in intersecting gold

mineralization in rocks similar to the host rocks of the Black Fox Deposit, including a high grade

intercept of 3.5 meters grading 455 grams gold per tonne (13.27 ounces of gold per ton) as well

as numerous individual one meter gold intervals grading from 12 to 277 grams per ton (0.35 to

8.08 ounces gold per ton).

In addition to the 23 holes assayed so far in 2009 and the 16 holes from last year we are awaiting

the results of 30 holes drilled in 2009. All these holes have been drilled with the objective of

showing continuity to the mineralization, and as a result thereof, a measured and indicated

resource status.

“Apollo has followed the multiple mineralized zones intersected in the Contact Fault Zone north

onto the Pike River Property” says Richard Nanna, Vice President-Exploration for Apollo, “The

trend we are following, which is relatively north-south, is heading toward the Destor-Porcupine

Fault Zone. Structural intersections are always very favorable exploration targets and we are

excited to continue our exploration drilling program north onto our recently acquired Pike River

Property.”