Apogee Silver Receives Approval for the Development of Pulacayo by Bolivia's Ministry of Environment & Water - Seite 3

Apogee continues to actively pursue financing partners and/or financing alternatives to provide the Company with the required capital to develop the Pulacayo Project.

About Apogee Silver Limited

Apogee Silver is a mineral exploration and development company focused on advancing its 100% controlled Pulacayo Project to production. Currently in its financing phase, this low capital and operating cost silver and base metals mine project is located in the prolific silver-producing Potosi district in southwestern Bolivia. The Feasibility Study (based on US$28 Silver) on the foundation phase of the project estimates an initial CAPEX of $55 million that will support a mining rate of 1,000 tonnes per day for 10 years at all-in costs (including capex, opex and sustaining capex) of $15.66/oz and cash operating costs of US$11.20/oz producing approximately 2,300,000 silver equivalent ounces (including base metal credits using base metal prices of US$0.86/lb for Pb & US$1.00/lb for Zn). This initial mine scenario features a pre-tax IRR of 47.1% and post-tax IRR of 32.1%. The Feasibility Study considers only approximately 49% of the silver ounces from the total Pulacayo Project mineral resource and the Company intends to expand its operation once in production. Additional mineral growth from exploration drilling on down-dip and strike defined targets adjacent to the current resource is also anticipated, and excludes the potential presented by the Paca resource just 7km away. Apogee is led by a proven management team with hands-on experience developing and operating mines in Latin America.

Apogee shares are listed on the TSX Venture Exchange (TSXV) under the symbol "APE", and on the premier tier of the U.S. Over-the-Counter market (OTCQX) under the symbol "AGEEF".

The technical information provided in this news release was reviewed and approved by Professor J.L. Porter (FSAIMM), a consultant to Apogee Silver Limited and a qualified person for the purposes of National Instrument 43-101.

On Behalf of Apogee Silver Limited,

Neil T. Ringdahl	G. Scott Paterson
Chief Executive Officer	Chairman

Cautionary Note Regarding Forward-Looking Information:

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to results of the feasibility study and the mineral reserve and resource estimate, the anticipated timing and impact of the proposed amendments to the Bolivian Mining Law, the future financial or operating performance of the Company, its subsidiaries and its projects, the ability to obtain financing and/or financial partners; and the impact of concerns relating to permitting, other necessary approvals, governmental and local community relations. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Estimates underlying the results of the feasibility study arise from engineering, geological and costing work of TWP Sudamerica, Mercator Geological Services, P&E Mining Consultants and the Company. See the technical report relating to the Feasibility Study for a description of all relevant estimates, assumptions and parameters. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other necessary approvals from the Bolivian authorities or COMIBOL,; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.