APE Apogee Opportunities

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Apogee Minerals Ltd. ("Apogee" or "the Company") (TSX VENTURE:APE) is pleased to
announce that it has closed its previously announced non-brokered private
placement financing of 1,578,946 units of the Company ("Units") for gross
proceeds of $300,000. Each Unit is comprised of one common share and one common
share purchase warrant. Each warrant will entitle the holder to acquire a common
share of the Company at an exercise price of $0.25 until December 18, 2012. The
common shares, warrant and warrant shares thereunder are subject to statutory
resale restrictions which expire on April 19, 2011. 


The Company intends to use net proceeds to continue the development of its key
projects and for working capital purposes. 


In addition, the Company is pleased to announce that Jennifer Wagner has been
appointed as the Corporate Secretary of the Company effective December 20, 2010.
Ms. Wagner is a corporate securities lawyer who works as a legal consultant to
various TSX and TSX Venture listed companies in the mining industry. Ms.
Wagner's appointment follows the resignation of Mr. Patrick Gleeson. Mr. Gleeson
will continue to act as a consultant to the Company. 


The Company also provides an update with respect to its previously announced
acquisition of the Cachinal silver property, located in Chile, from Valencia
Ventures Inc. ("Valencia"). Apogee and Valencia are in the process of
negotiating the terms of the definitive agreement. Completion of the acquisition
remains subject to, among other things, receipt of all regulatory approvals,
including the approval of the TSX Venture Exchange (the "TSXV"). The acquisition
is a non-arm's length transaction for the purposes of the TSXV as Apogee and
Valencia have a common director, being Mr. Stan Bharti, and a common officer,
being Mr. Greg Duras who is the Chief Financial Officer of both Apogee and
Valencia.


For detailed project information please refer to Apogee's web site at
www.apogeeminerals.com.


About Apogee Minerals Ltd.

Apogee Minerals Ltd. is an exploration stage company listed on the TSX Venture
Exchange under the symbol APE. Apogee targets advanced stage silver-zinc-lead
projects in South America that demonstrate potential to be accelerated to
production. Currently its projects are located in the historic silver producing
regions of southwest Bolivia and northern Chile.


Its most advanced project is the Pulacayo-Paca project in Bolivia, which is an
option to joint venture with Golden Minerals Company. This project includes the
property that covered the second-largest silver mine in the history of Bolivia
with over 600 million ounces of past production. 


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 with respect to the projected use of proceeds, exploration
prospects, the completion of the acquisition of the Cachinal property and
requirements for additional capital. 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". 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: financing not being available at
desired prices; general business, economic, competitive, political and social
uncertainties; the actual results of current exploration activities; timing and
availability of external financing on acceptable terms; conclusions of economic
evaluations; changes in project parameters as plans continue to be refined;
future prices of mineral prices; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes and other risks of the mining
industry; and, delays in obtaining governmental approvals or required financing
or in the completion of activities. 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.

Apogee Silver Ltd. (TSXV:APE)
Historical Stock Chart
From Jun 2024 to Jul 2024

Apogee Silver Ltd. (TSXV:APE)
Historical Stock Chart
From Jul 2023 to Jul 2024