APE Apogee Opportunities

Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE) is pleased to
report assay results from 15 additional diamond drill holes from the ongoing
drill campaign at the Pulacayo deposit located in southwest Bolivia (See Table 1
below). All of the reported holes were drilled from surface. 


The highlights include: 



--  PUD 195 which intersected 10.0 meters grading 133.70 g/t silver, 0.69 %
    lead, 0.02% zinc. 
    
--  PUD 196 which intersected 1.0 meter grading 215.00 g/t silver, 3.45%
    lead, 1.86% zinc. 
    
--  PUD 199 which intersected 4.0 meters grading 285.50 g/t silver, 3.67%
    lead, 5.03 % zinc. 
    
--  PUD 201 which intersected 1.0 meter grading 171.0 g/t silver, 0.06%
    lead, 3.17% zinc. 
    
--  PUD 206 which intersected 2.0 meters grading 137.0 g/t silver,0.04%
    lead, 0.20% zinc, and 3.02 g/t gold. 
    
--  PUD 207 which intersected 3.0 meters grading 468.7 g/t silver, 0.04%
    lead, 0.11% zinc. 



Drill holes outside of the currently estimated mineral resource were drilled
along strike both to the east and to the west of the deposit comprising the
previously released National Instrument 43-101 ("NI 43-101") resource. Since
2010, diamond drilling has successfully extended the deposit approximately 750
meters east of the current (See Press Releases dated, February 24th 2011, April
5th 2011, May 16th 2011, June 22, 2011 and the NI 43-101 technical report dated
December 2008 and filed under the SEDAR profile of the Company at
www.sedar.com). The Company has now completed a total of 63 drill holes east of
the previously announced resource and 9 holes in the area to the west (See
Figures 2 and 3 below). 


Chris Collins, P. Geo., President of Apogee, states, "We continue to be very
encouraged by the latest assay results from Pulacayo. The drill holes
delineating the deposit along strike east of the current estimated resources
continue to return high silver grades across widths that are expected to be
minable. Assay results also include the initial results from drill holes along
strike to the west of the current estimated resources including some very high
grade silver intercepts. Additional drilling in this area is clearly warranted."


Apogee continues to evaluate the Pulacayo deposit with five drill rigs at the
site. Three surface drills are completing the first phase of the resource
expansion drilling which will total approximately 23,000 meters. An underground
drill commenced in early August, 2011 and three drill holes have been completed
to date. The underground drill is focused on providing detailed information in
the areas of the deposit that are scheduled for pilot mining in the fourth
quarter of 2011. A program to evaluate the near surface silver oxide potential
also commenced in early August, 2011. At present there is one drill on this
program but additional drills will be added as the planned sulphide resource
expansion drilling wraps up." 


To view Table 1 Summary of Significant Intercepts, please visit the following
link: http://media3.marketwire.com/docs/ape818_table.pdf


The Pulacayo deposit is a thick east-west striking zone of conjugate veins,
stockwork and disseminated sulphides that locally are up to 200 meters in
thickness with a higher grade core that comprises the resource. The known strike
length of the Tajo Vein System which hosts the Pulacayo deposit is approximately
2.7 km and to date only approximately 1,300 meters has been systematically drill
tested (See Figure 2 below). Mineralization comprises sphalerite, galena and
tetrahedrite in sulphide-rich veins ranging from a few centimeters to greater
than one meter thick and heavily disseminated sphalerite, galena and
tetrahedrite between the veins. 


Quality Control 

The Company employs a quality assurance/quality control protocol on all aspects
of the diamond drilling, sampling and analytical procedures. The quality control
and all aspects of the exploration program are supervised by Apogee's
Exploration Manager Mr. Hernan Uribe, who holds a Masters of Applied Science in
Mineral Exploration from the Imperial College of Science And Technology, Royal
School of Mines, London, England. The scientific and technical information
presented in the press release has been reviewed and approved by Chris Collins,
P. Geo., President of Apogee and a qualified person, as defined by NI 43-101. 


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


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
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 100% owned 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.


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 future financial or operating performance of
the Company, its subsidiaries and its projects, the development of and the
anticipated timing with respect to the Pulacayo-Paca project, the current drill
program, and statements regarding exploration prospects. 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. 


On Behalf of the Board, 

G. Scott Paterson, Chairman

To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/Figure1PulacayoP.pdf.


To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/Figure2Tajo.pdf.


To view Figure 3, please visit the following link:
http://media3.marketwire.com/docs/Figure3Pulacayo.pdf.

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