Apogee Appoints Neil Ringdahl as Chief Executive Officer to Transition the Company to Being a Silver Producer

TORONTO, ONTARIO–(Marketwire – June 2, 2011) –

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES

Apogee Minerals Ltd. (TSX VENTURE:APE) (“Apogee” or the “Company”) today announced that Mr. Neil Ringdahl has been appointed as the Chief Executive Officer and as a director of the Company effective June 1, 2011. Mr. Ringdahl is a qualified mining engineer who has held senior management positions with a number of companies, including Anglo Platinum Ltd., Golden Star Resources Ltd., and Peruvian base metals producer, Volcan Compania Minera. Most recently, Mr. Ringdahl was the Country Manager for Ancash Mining Ltd. (recently acquired by Korea Zinc). Mr. Ringdahl has led a number of mining and project teams on various exploration and development projects in South America and Africa. He spent five years as a consultant specialising in strategic and tactical mine planning on various diamond, precious and base metals mines around the world and is fluent in Spanish. Mr. Ringdahl acquired his BSc. Engineering Honours (Mining), from the University of the Witwatersrand (Wits), in Johannesburg South Africa.

In conjunction with Mr. Ringdahl’s appointment, Mr. David Gower has resigned as Chief Executive Officer, however, Mr. Gower will remain on the Board of Directors of the Company and will remain integrally involved in the planned development of the Pulacayo-Paca property in Bolivia.

Mr. David Gower, former Chief Executive Officer of Apogee stated; “We are very pleased to have Neil Ringdahl lead our executive team. Neil was recruited in order for Apogee Silver to transition from an exploration focused company to one focused on development and future production as we take our Pulacayo project into production. Neil’s appointment followed a global search and he has spent the past three months working as consultant for the Company in order that the transition will be seamless. Neil brings a strong engineering and project management track record, specifically with South American experience and is Spanish speaking. We now have a strong, well qualified team of professionals in place to execute all aspects of the Pulacayo development.”

Mr. Scott Paterson, the Chairman of Apogee stated; “We are very pleased to have Mr. Ringdahl joining Apogee. The Company is seeking to complement its strong technical team as the Company moves forward with its development of the Pulacayo property. We thank Mr. Gower for his years of service as the Chief Executive Officer of Apogee.”

In connection with his appointment, Mr. Ringdahl will receive 800,000 stock options of the Company at an exercise price of $0.245 that vest in four equal tranches over a one year period. The options remain subject to a statutory four month hold period and will expire five years from the date of grant. The options 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.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

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 potential impact of the appointment, 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.

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

FOR FURTHER INFORMATION PLEASE CONTACT:
Apogee Silver Ltd.
Marilia Bento
Vice President Corporate Development
+1 (416) 309-2694

Apogee Silver Ltd.
G. Scott Paterson
Chairman of the Board
+1 (416) 368-6464
info@apogeesilver.com
www.apogeesilver.com

Source: Apogee Silver Ltd.