APE Apogee Opportunities

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Apogee Silver Ltd. (TSX VENTURE:APE) ("Apogee" or the "Company") has awarded the
EPCM (Engineering, Procurement & Construction Management) contract for a 400tpd
(tonne per day) pilot concentrator at Pulacayo in Southern Bolivia to TWP
Sudamerica S.A., a capable engineering firm with worldwide experience (refer to
further information below). 


The rehabilitation of Apogee's Pulacayo underground mine is underway one month
ahead of schedule, and is in preparation for underground mining commencing later
this year. Operations are schedule to be ramped up to meet the 400tpd capacity
as the Pulacayo concentrator is commissioned. The rehabilitation work and
planned trial mining program is being conducted under the Company's current
"EMAP" environmental licence, which permits mining and custom milling operations
for up to 200 tonnes per day. The Company is on schedule to obtain an expanded
environmental permit in Q2 2012, ahead of construction of the pilot
concentrator. 


Neil Ringdahl, Bsc. (Eng.) Mining and CEO of Apogee, states "The construction of
a 400tpd milling operation brings the company an important step closer to its
goal of becoming a significant silver producer. Apogee is hiring and training a
core work force in Bolivia that will be available to transition to full scale
mining as the concentrator comes on line. The projected early cash flow from our
wholly owned pilot concentrator will be a strong advantage that will provide
further support towards building a large mine and mill on this outstanding
silver resource." 


The Company is on track to achieve the following medium term objectives: 



--  The construction of the Pulacayo pilot concentrator and tailings storage
    facility (commissioning in Q4, 2012); 
--  Underground mining development & limited custom toll milling at Pulacayo
    (commencing Nov/Dec, 2011); 
--  Completion of oxide and resource expansion drill programs; and 
--  The feasibility study for a large mining and milling operation at
    Pulacayo-Paca. 



Subsequent to completing the bought deal $25 million financing (news release
dated May 3, 2011) the Company is in a solid financial position. As a result it
will not complete the proposed debt facility with Sprott Resource Lending
Partners (see press releases April 26, May 3, and May 6, 2011). 


About Apogee Silver Ltd.

Apogee is a mineral exploration and development stage company listed on the TSX
Venture Exchange under the symbol APE. Apogee targets advanced silver-zinc-lead
projects in South America that demonstrate potential to be developed 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. 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.


About TWP Sudamerica S.A.

TWP Sudamerica S.A. is a wholly owned subsidiary of TWP Projects and the Basil
Read Group, which is a capable international resource and infrastructure focused
engineering project house with over 25 years of experience. It provides a full
range of engineering, architectural, finance and project management solutions.
The TWP group employs in excess of 1,000 multi-disciplinary professionals and
administrative personnel around the world. The company has a project portfolio
with a capital value of more than US$10-billion and has offices in South Africa,
Zambia, Australia and South America. TWP Sudamerica's Peru office employs more
than 60 professionals and is completing work in Chile, Colombia, Bolivia and
Peru. 


TWP Weblink: http://www.twp.co.za

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 anticipated
timing and development of the Pulacayo project, future financial or operating
performance of the Company, its subsidiaries and its projects, statements
regarding the development of the Pulacayo-Paca project and the ability of the
Company to adhere to its anticipated project development schedule and
anticipating timing and receipt of all necessary licences and permits required
with respect to the Pulacayo project.. 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 statements that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking information is based on the opinions
and estimates of management as of the date such statements are made and they are
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. Although management of 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 are 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 that is included herein, except in accordance with
applicable securities laws.

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