APOLLO acquires nickel project in world class nickel province

Highlights;
1. Apollo has agreed to acquire a 70% interest in the Orpheus Base Metals JV Project in the world class Fraser Range minerals province in Western Australia.

2. Apollo will enter into a Joint Venture Agree ment with Enterprise Metals to explore for major nickel and base metal deposits in the project area.

3. The project covers 600 square kilometres across four tenements in the most sought after area of the Fraser Range exploration province.

4. The project is situated 30 kilometer along strike from Sirius Resources' Nova nickel deposit in the main high density zone of the Albany-Fraser Orogenic Complex.

5. Previous exploration includes detailed soil geochemistry electromagnetic surveys and a 12 hole, 3,800 meter drill programme which intersected nickel sulphides.

6. Multiple high priority targets have been identified and are drill ready.

7. Apollo is reviewing extensive data and planning its work programme to continue exploration across the highly desired and prospective Fraser Range tenements.

8. Drilling is expected after finalisation of the review and input from expert advisers.

9. Share placement to raise USD 550,000 to fund acquisition and exploration.

Apollo Minerals Ltd announced the acquisition of a 70% interest in the Orpheus Base Metals JV Pro ject in the Fraser Range nickel province in south eastern Western Australia.

The project area consists of four tenements covering 600 square kilometres in the most prospective area of the world class Fraser Range exploration district, host to Sirius Resources' major Nova nickel and copper deposit.

Under the terms of the agreement, Apollo will enter into the Orpheus Base Metals JV with Enterprise Metals Ltd. Apollo will acquire a 70% interest in the tenements from Enterprise, who will be free carried to completion of Bankable Feasibility Study.

Upon completion of a BFS and delineation of a mining area, the JV parties will contribute proportionally to the development of the Project towards mining.

The Fraser Range province has attracted significant exploration since the discovery of Sirius's world class Ni-Cu Nova deposit in 2012, at which mine construction has now commenced. The Orpheus Base Metals JV is strategically located with the primary tenement, E63/1281, situated along strike and mid way between Sirius Resources' Nova deposit to the north and its highly prospective Crux Prospect to the south .

Mr Richard Shemesian chairman of Apollo Minerals said that “Apollo now has a project in one of the most prospe ctive areas for nickel and copper massive sulphides near Sirius's world class Nova nickel mine. We now have two projects in geological areas that host world class mineral deposits including our South Australian Titan IOCG Project. With access to the best technical experts and joint venture partners, Apollo will be able to increase its chances of discovery.”