Tribeca to Invest $2.8 Million in Apollo Minerals

• Tribeca to subscribe for 70 million new shares at $0.04 per share
• Investment validates the significant scale opportunity of Apollo's Couflens High Grade Tungsten Gold Project
• Proceeds to advance exploration and development activities at Couflens

Apollo Minerals Limited (ASX: AON) has announced that Tribeca Investment Partners ('Tribeca') has committed to subscribe for 70,000,000 new fully paid ordinary shares of the Company at an issue price of $0.04 per share, raising gross proceeds of A$2.8 million. Upon settlement of the placement, which is subject to shareholder approval, Tribeca will become a substantial shareholder in Apollo Minerals, owning approximately 5.6% of the company. The investment by Tribeca, in addition to Apollo's recent capital raising of A$6.5 million, validates the significant scale opportunity of the company's Couflens High Grade Tungsten Gold Project in southern France, which includes the historical Salau mine, one of the world's highest grade tungsten mines when it operated previously. Proceeds from the placement will be used to advance exploration and development activities at Couflens and for general working capital purposes. Apollo Minerals' Managing Director, Neil Inwood, commented that the company is pleased to welcome Tribeca as a significant shareholder and looks forward to collaborating as Apollo seeks to unlock the significant opportunity and untapped exploration potential of the Couflens project.