Apogee Announces Private Placement Financing

Toronto, Ontario – April 29, 2010 – Apogee Minerals Limited (“Apogee” or “the Company”) (TSX Venture Exchange: APE) announces that it intends to complete a non-brokered private placement financing of units (“Units”) at a price of $0.10 per Unit for gross proceeds in the amount of $2,750,000 (the “Offering”). Each Unit consists of one common share of the Company (a “Common Shares”) and one-half of one share purchase warrant (each whole warrant a “Warrant”), with each Warrant entitling the holder thereof to acquire a Common Share at the exercise price of $0.20 per share for a period of up to 24 months following the closing of the private placement. In addition, the Company may grant the option (the “Over-Allotment Option”), exercisable in whole, or in part, at any time up to the closing of the Offering to offer for sale an additional 5,000,000 Units. If the Over-Allotment Option is fully exercised, the total gross proceeds of the proposed Offering would be $3,250,000.

The Company intends to use net proceeds to continue the development of its key projects and for working capital purposes. The Company may pay finder’s fees in connection with the financing.

The Common Shares, the Warrants and the shares issuable upon the exercise of the Warrants, are subject to resale restrictions. Closing of the financing is subject to receipt of regulatory approval, including final TSX Venture approval.

About Apogee Minerals Limited

Apogee Minerals Ltd. is an exploration 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, 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.

For Further Information Contact:

Ana Lopes, Investor Relations – phone: + 416 861-2264
Email: info@apogeesilver.com