Apogee Announces Proposed Share Consolidation

TORONTO, ONTARIO--(Marketwired - June 8, 2015) - Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE) announces a proposed consolidation of its common shares as approved by shareholders at its annual and special meeting held June 17, 2014 (the "Meeting"). At the Meeting shareholders approved a special resolution to amend the articles of incorporation of the Company to consolidate its issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-consolidated Common Share for up to a maximum of one hundred (100) pre-consolidated Common Shares, at the discretion of the Board for a period of one year following the Meeting. Upon review and approval of the Board of Directors, the Company proposes that it consolidates its Common Shares such that one (1) new post-consolidated Common Share would be issued for every sixty-five (65) Common Shares outstanding on the effective date of the consolidation, or such lower number as may be required to obtain approval of the TSX Venture Exchange.

Apogee currently has 450,816,059 Common Shares outstanding. Following the completion of the share consolidation on a sixty-five to one basis, Apogee would have approximately 6,935,631 Common Shares issued and outstanding. The change in the number of issued and outstanding common shares that would result from the share consolidation would not materially affect any shareholder's percentage ownership in Apogee, although such ownership would be represented by a smaller number of common shares.

The proposed share consolidation is subject to the approvalof the TSX Venture Exchange.

About Apogee Silver Ltd.

Apogee Silver Ltd. is a mineral exploration and development stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced, high grade silver-zinc-lead projects in South America. Currently its projects are located in the historic silver producing regions of northern Chile.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements containing forward-looking information express, as at the date of this news release, the Transaction, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and the Company does not intend, and does not assume any obligation to, update such statements containing the forward-looking information. Such forward-looking statements and information include, but are not limited to statements as to: anticipated timing with respect to the implementation of the share consolidation, the effects of the share consolidation, the accuracy of estimated mineral reserves and resources, anticipated results of future exploration, and forecast future metal prices, and expectations that environmental, permitting, legal, title, taxation, socio-economic, political, marketing or other issues will not materially affect estimates of mineral reserves. These statements reflect the company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.