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March 13, 2006 Apogee Minerals Press Release Apogee Expands Land Position and Announces Private Placement Financing APOGEE EXPANDS LAND POSITION AT BUENA VISTA GOLD-SILVER-ZINC PROJECT Signs Agreement to Acquire Adjoining Leoplan Property TORONTO, ON March 13, 2006 Apogee Minerals Ltd. (TSX Venture Exchange: APE) has completed an agreement to acquire a 75% interest in the Leoplan Property which adjoins the southeastern boundary of Apogee`s Buena Vista Gold-Silver-Zinc Project from EMUSA, a private Bolivian mining company. The 44 hectare Leoplan concession covers approximately 1,000 meters of strike extension of the Buena Vista vein system where Apogee has intersected high grade mineralization within surface trenches and diamond drilling (See Apogee Press Releases dated November 14, 2005, August 25, 2005 and June 23, 2005). Geological mapping and trenching has traced the volcanic hosted mineralized vein system in a southeasterly direction to the current property boundary: http://www.agoracom.com/images/APEmapPR031306.pdf The Leoplan vein is known to host a high grade antimony-silver mine which has small production at present. Exploration completed to date by Apogee on the Buena Vista concession, including underground channel sampling, surface trenching and diamond drilling shows that gold content associated with silver in the vein increases in a southeasterly direction and it is hoped that there is a gold association with the silver-antimony mineralization on the Leoplan vein. Apogee has not yet sampled the Leoplan workings. Mr. John Carlesso, Apogee`s President and CEO commented, "This agreement with EMUSA will enable Apogee to continue exploration of the Buena Vista vein system to the southeast in what appears to be the continuation of a very interesting zone of mineralization. Sampling of the Leoplan mine workings will commence during the next few weeks." To earn a 75% interest in the project, Apogee will: (i) issue 100,000 shares to EMUSA on execution of the definitive agreement, (ii) spend US$250,000 on exploration within two years, with a minimum of US$100,000 in the first 12 months, (iii) issue 100,000 shares and pay US$50,000 on or before the 12 month anniversary of the agreement, and (iv) issue 300,000 shares and pay US$100,000 on or before the 24 month anniversary of the agreement. Building A Premier Emerging Silver Producer Apogee Minerals Ltd. is a Canadian exploration and development company listed on the TSX Venture Exchange under the symbol APE. The company is focused on advanced Silver-Zinc projects in South America that demonstrate the potential to receive capital investment and be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia. This press release is available on the company`s official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/apogee . Alternatively, investors are asked to email all questions and correspondence to APE@agoracom.com where they can also request addition to the Apogee Minerals investor email list to receive all future press releases and updates directly. For further information contact: John Carlesso President and C.E.O. (416) 861-5881 Regulatory Footnotes: Mr. Douglas A. Currie, MAusIMM, Apogee`s Vice President-Exploration, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release. All analytical work has been completed by ALS Chemex of North Vancouver, BC, Canada; ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes. Samples are transported from field projects to the ALS Chemex sample preparation facility in Oruru, Bolivia, by Company personnel or a reputable commercial carrier. All analytical testing is performed utilizing a variety of industry standard analytical techniques, including: (i) ALS Analytical Code ME-MS41 - 50 element analysis using aquaregia digest and ICPAES analysis, (ii) ALS Analytical Code AA46 & AA62 – specific element analysis using aquaregia digest and AAS determination (Ag, Zn, Pb, Cu, As) and, (iii) Analytical Code Au-AA26 – Gold using a 50g Fire Assay-AAS finish. All diamond drill core is geologically logged and sampled by Company geologists then is cut in half using a diamond saw and sampled in one(1) meter sample intervals; the archive portion of the sample is securely stored at each project site. The Company has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks and routinely repeats sample analysis. Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". APOGEE ANNOUNCES PRIVATE PLACEMENT FINANCING TORONTO, ON March 13, 2006 Apogee Minerals Ltd. (TSX Venture Exchange: APE) is pleased to announce that it has entered into an agreement to raise up to $10 million by way of a brokered private placement on a best efforts basis through a syndicate of agents (the "Agents") led by Salman Partners Inc. The financing will consist of the issuance of up to 10 million units (the ``Units``) priced at $1.00 per Unit, subject to regulatory approval. The Agents have been granted an option to offer for sale up to an additional 2.0 million Units at a price of $1.00 per additional Unit, exercisable until closing. Each Unit will consist of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one additional common share, at $1.25, for a period of eighteen months following the closing date. Closing is expected to occur on or about April 6, 2006. The Agents will receive a commission of 6.5% of the gross proceeds raised in this private placement, as well as Broker Warrants equal in number to 10% of the aggregate number of Units sold under the financing which will entitle the Agents to purchase, at an exercise price equal to $1.25, one common share of the Company for a period of eighteen months. The net proceeds of from the sale of the Units will be used for exploration and development of the La Solucion and Pulacayo-Paca projects and for general corporate purposes. The securities comprised in the Units will be issued subject to a four-month hold period under applicable law. The transaction is subject to certain conditions, including (but not limited to) the receipt of all necessary regulatory and stock exchange approvals. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ``U.S. Securities Act``) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Building a Premier Emerging Silver Producer Apogee Minerals Ltd. is a Canadian exploration and development company listed on the TSX Venture Exchange under the symbol APE. The company is focused on advanced Silver-Zinc projects in South America that demonstrate the potential to receive capital investment and be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia. This press release is available on the company`s official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/apogee . Alternatively, investors are asked to email all questions and correspondence to APE@agoracom.com where they can also request addition to the Apogee Minerals investor email list to receive all future press releases and updates directly. For further information contact: John Carlesso President and C.E.O. (416) 861-5881 THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. |
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| aus der Diskussion: | Apogee Silver ehemals Apogee Minerals --The Biggest Little Silver Company in the World |
| Autor (Datum des Eintrages): | sparplan_b (13.03.06 16:34:34) |
| Beitrag: | 7 von 11,565 (ID:20663218) |
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