Nevada, United States
64 km SW of Winnemucca
Commodities: Silver, Gold
October 19, 2005
Announced a stock purchase agreement with Jipangu Inc. ("Jipangu") was entered into on October 17, 2005, pursuant to which a wholly-owned subsidiary of Jipangu has agreed to purchase Florida Canyon Mining, Inc., Standard Gold Mining, Inc., and Apollo Gold Exploration Inc. for US$14 million (the "Mine Purchase"), subject to certain conditions. In addition, Apollo and Jipangu have entered into a subscription agreement for a US$3.5 million private placement under which Jipangu would purchase up to 11,650,000 units of Apollo priced at Cdn$0.35 per unit, with each unit consisting of one common share of Apollo and 0.17167 of a warrant (for a total of up to 2,000,000 warrants), with each whole warrant exercisable for two years at Cdn$0.39 for one common
share. If the private placement were completed and the warrants were exercised, Jipangu would own
in the aggregate 19.7% of Apollo's common shares based on 106,556,449 common shares. For further details please refer to pa306475.pdf pp.1.
June 30, 2005
The Florida Canyon mine produced 8,750 oz gold, as a result of temporary cessation of mining on March 1,2005 for the purpose of focusing on the Standard mine.