Apogee Appoints G. Scott Paterson as Chairman of the Board and Marilia Bento as Vice President, Corporate Development

TORONTO, ONTARIO — (MARKET WIRE) — 12/09/10 — Apogee Minerals Ltd. (TSX VENTURE: APE) today announced that Mr. G. Scott Paterson has agreed to join the board of Apogee. Mr. Paterson is Vice Chairman of NeuLion Inc. (formerly JumpTV), having been Chairman from January 2002 until October 2008. NeuLion is a world leader in IPTV, counting the NFL, NHL, NBA and the NCAA as key clients and is a board member of several public companies. He is also Chairman of the Merry Go Round Children’s Foundation and a Governor of Ridley College. From 1998 to December 2001, Mr. Paterson was Chairman and CEO of Yorkton Securities Inc., which under his leadership became Canada’s leading technology investment bank, raising over $13 billion in equity for Canadian companies as managing and co-managing underwriter. Mr. Paterson has served as the past Chairman of the Canadian Venture Stock Exchange and as a former Vice Chairman of the TSX. In 2009, Mr. Paterson obtained the ICD.D designation by graduating from the Rotman Institute of Corporate Directors at the University of Toronto.

In conjunction with Mr. Paterson’s appointment, Mr. Helio Diniz has resigned from the Board of Directors of the Company but has agreed to continue in a consulting role with respect to Apogee’s exploration and development projects in South America.

Apogee is also please to announce the appointment of Ms. Marilia Bento to the position of Vice President, Corporate Development. Ms. Bento has over 20 years of experience in the financial industry and the Canadian Capital Markets. Previously Ms. Bento was Managing Director at Macquarie Capital Markets Canada Ltd. and held the position of the Head of Equity Capital Markets Canada. Marilia has participated financings for numerous energy, mining, technology and healthcare companies, representing over 800 financings and over $46 billion in equity. Marilia was also responsible for building a retail network group that had over $45 billion of assets under administration and comprised over 1,400 retail brokers across Canada. Prior to the acquisition of Orion Securities by Macquarie Capital Markets Canada Ltd., Ms. Bento was on the Board of Directors of Orion from June 2000 until November 2007.

Mr. Stan Bharti, Chairman of Apogee stated; “We are very pleased to have Scott Paterson and Marilia Bento joining Apogee. The Company is seeking to improve our communication and profile within the investment community to complement the strong technical team that is in place. The capital markets background of Mr. Paterson and Ms. Bento will go a long way to improving this aspect of our business. We thank Mr. Diniz for his service as member of Apogee’s Board.”

In connection with their respective appointments, Mr. Paterson will receive 2.4 million stock options and Ms. Bento will receive 600,000 stock options in relation to their appointments at an exercise price of $0.27 that vest in eight equal tranches over a two year period. Apogee will also issue 4,370,000 options to consultants and insiders of the Company. The options have an exercise price of $0.27 per option exercised and will vest immediately subject to a statutory four month hold period. The options will expire five years from the date of grant and are subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

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 board and executive appointments, the future financial or operating performance of the Company, its subsidiaries and its projects, 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 -30-

Contacts:
Apogee Minerals Ltd.
Chris Collins
President
(416) 861-2264

Apogee Minerals Ltd.
Marilia Bento
VP Corporate Development
(416) 309-2139
info@apogeesilver.com
www.apogeesilver.com