Apogee Announces Appointment of Chris Collins as President and Updates Pulacayo Project

TORONTO, ONTARIO–(Marketwire – Sept. 4, 2009) – Apogee Minerals Ltd. (TSX VENTURE: APE.V ) (“Apogee” or the “Company”) today announced that Mr. Chris Collins, P.Geo, MBA has been appointed President of the Company. Mr. Collins has more than 20 years of service within the minerals sector, including a distinguished career with Noranda Inc. (“Noranda”) where he was involved in the feasibility study of lead-zinc-silver deposits in Canada including hands on experience working in Noranda’s underground operations. He was also involved in advanced projects in Chile, Brazil and Norway. More recently Chris was the Vice President of Exploration with Gold Eagle Mines Ltd. until its recent takeover by Goldcorp Inc. Chris has also held a senior position with ALS Chemex and has a strong understanding of quality assurance and quality control concepts. Chris has a B.Sc. in Geology from Memorial University of Newfoundland and an MBA from Saint Mary’s University.

David Gower, P.Geo. stated; “We are very pleased to welcome Chris Collins to the team. Chris brings a wealth of technical experience in managing advanced projects, and strong business acumen to the position. Having Apogee’s President based in Toronto will strengthen our contact with the investment community which is important for Apogee.”

In connection with this appointment, Mr. Collins has been granted 500,000 stock options at a price of $0.10. The options shall vest in four equal installments every three months, with the first installment to vest three months from the date hereof, subject to the four month regulatory hold period.

The Company also announces that Mr. Helio Diniz has resigned as President of Apogee but shall remain on the Board of Directors of the Company. The Company wishes to thank Mr. Diniz for his contributions to the Company as President.

The scoping/prefeasibility studies by Micon International Inc. (“Micon”) are ongoing at the Pulacayo silver project in Bolivia. Micon has completed the site work on the metallurgical sampling and mining aspects of the project. Micon has also assessed mills in the area surrounding the deposit that may be suitable to provide custom milling of ore from the Pulacayo deposit. Micon is expected to deliver its initial report in the early part of the fourth quarter.

About Apogee Minerals

Apogee Minerals Ltd. is a Canadian Company listed on the TSX Venture Exchange under the symbol APE. Apogee is focused on advanced silver-zinc-lead projects in South America that demonstrate the potential to be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia. The Pulacayo-Paca project is an option to joint venture with a subsidiary of Golden Minerals Company. The project occupies the property that includes the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production.

Forward Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes ”forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to mineral resource estimates and the ability to realize such estimates; projected mineral production and economics of such production; economic, scoping and feasibility studies, projected capital and operating expenditures; metal prices; permitting time lines and permitting; availability of skilled labour; ability to develop mining operations in Bolivia; government regulation of mining operations; and environmental risks. 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 statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the mineral resources are based on the assumptions and parameters set out above and on advice from independent, qualified consultants. Estimates regarding the economics of projected production are based on preliminary analysis conducted by Apogee management and have not been verified by independent experts. Assumptions underlying these estimates include future metal price projections, ability to finance development costs of such development, research and experience of Apogee management. 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 risks described in the public record of the Company posted under the profile of the Company on SEDAR at www.sedar.com . 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 intended. There can be no assurance that such statements 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.

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, statements regarding the terms of the financing and projected use of proceeds, statements regarding exploration prospects, 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contacts

Ana Lopes
Apogee Minerals Ltd.
Investor Relations
(1) 416 861 2267
info@apogeeminerals.com
www.apogeeminerals.com