Apollo Minerals : Sale of Royalty Interest in Pilbara Gold Region

ASX RELEASE | 1 NOVEMBER 2017 | ASX:AON SALE OF ROYALTY INTEREST IN PILBARA GOLD REGION

Apollo Minerals Limited (ASX: AON) is pleased to advise that it has entered into an agreement with African Mango Pty Ltd in relation to the sale of one of its royalty interests in the Pilbara Gold region for A$1 million in cash (the "Agreement").

An upfront cash payment of A$600,000 has been received by the Company and a further A$400,000 in cash will be paid on the 12 month anniversary of signing a formal Deed of Assignment and Assumption, in return for the sale of Apollo's royalty interest over tenement E47/1379.

Apollo Minerals retains its royalty interests over two areas located near recent discoveries including Artemis' Mt OscarWits gold prospect (Figure 1).

Figure 1 - Apollo Minerals' Pilbara Gold Region Royalty Interest Location Map

Proceeds received from the sale will be used to advance its current activities, including its 80% interest in the Couflens Tungsten-Copper-Gold Project in France.

For further information contact:

Robert Behets Clint McGhie

Tel: [phone] Tel: [phone]

Email: [e-mail]

Apollo Minerals Limited | ASX code: AON | ABN: 96 125 222 924 | www.apollominerals.com.au

PERTH Level 9, BGC Centre, 28 The Esplanade Perth, WA 6000 | [phone] | [phone]

LONDON Unit 3C, Princes House, 38 Jermyn Street London, SW1Y 6DN | [phone] | [phone]