Apogee Drilling Expands Potential Resource Area at La Solucion Mine

TORONTO, ON February 15, 2007 Apogee Minerals Ltd. (TSX Venture Exchange: APE) has intersected additional significant silver-zinc-lead mineralization in the Hampaturi South Zone, at the southwestern end of Apogee’s 100% owned La Solucion Mine.

Mineralized intersections include:

(TT = True Thickness)

Vice President, Exploration Doug Currie stated: “These further positive results continue to solidify our view that the vein systems at La Solucion host the potential to define significant silver-zinc resources. These new results have defined a high grade zinc-rich shoot along the southwestern flank of the mineralized zone. Shallow drilling beneath the -45 Level has also intersected silver and zinc-rich mineralization that may represent another plunging mineralized shoot. We are very pleased with the success we have had locating additional mineralization around the current mining zone and the positive impact we believe this will have on our plans to expand the existing mining operations.”

Based on assay results received and visual observations of the mineralized structure, indications are that a zone of silver-zinc-lead+/-anomalous gold mineralization measuring approximately 100-125m wide, 125- 150m down dip/plunge and averaging 4.3m in True Thickness has been identified at Hampaturi South; the zone is still open at depth and the southwestern boundary is not completely defined and also may be open. The interpreted new shoot beneath historical workings to the northeast of the main shoot suggests that there still remains potential in this direction.

Micon International Limited of Toronto, Canada, have been contracted to complete a mineral resource estimate and NI 43-101 Technical Report for the Hampaturi South Zone. This work is well advanced and a resource estimate is expected shortly.

Assay results for all drillholes except hole SH-59 have now been received (Table 1; Press Releases dated October 19, 2006 and November 29 2006). Encouraging results have been received in several holes. On the southwestern flank, high grade zinc values intersected in holes SH-48 (6.0m @3.15% zinc), SH-37 (6.0m @10.41% zinc), reported previously, and SH- 53 (6.0m @ 5.18% zinc) have defined a zinc-rich plunging shoot (Figure 2).

Three shallow holes, SH-56, -58, and -59 were drilled approximately 15m below the -45Level of the Hampaturi Mine beneath historical stope areas (Figure 2). Historical sampling along the level had also identified a zinc rich zone approximately 65m long and 2m wide. Encouraging silver values were intersected in hole SH-56 and high grade zinc was intersected in hole SH-58. This mineralization may represent another plunging shoot sub-parallel to the main Hampaturi South Zone (Figure 1).

Hole SH-55, to the west of the original “discovery hole” SH-04, which contained 8.0m @ 46g silver/t, 1.86% zinc, 1.59% lead including 4.0m @ 54 g silver/t, 1.45% zinc, 1.68% lead and 1.13g gold/t, also contained good silver-zinc-lead mineralization and in excess of 1.0g gold/t.

Encouraging silver-lead-zinc mineralization was intersected in four drill holes completed late in 2005 on the extension of the Hampaturi Vein up to 100m below and 200m to the southwest of historical mining areas above the -45 Level within the La Solucion Mine (See Press Release January 12, 2006). The current drill program was initially planned to follow-up the intersections in SH-03 and SH-04. Partial results of this work have been previously reported in Apogee Press Releases dated October 19th and November 29th, 2006.

Mineralization at La Solucion is related to the Hamapturi Vein, one of several major sub-parallel veins trending 050-060°, dipping 60-85° to the SE and NW, which extend for several kilometers across the project area. The veins, locally potentially as thick as 10m but generally more likely to average 5-8m, vary from massive quartz, barren of mineralization, to quartz-siderite veins with sphalerite, galena, chalcopyrite and lesser bornite, covellite, stibnite and varying amounts to abundant pyrite. High grade zinc/lead/silver “ore” mineralization averages 1-2m within brecciated zones along the edges of the quartz-siderite veins.

Building A Premier Silver Producer

Apogee Minerals Ltd. is a Canadian producer of silver-zinc-lead and also carries out exploration and development activities. The company is listed on the TSX Venture Exchange under the symbol APE. Apogee is focused on advanced Silver-Zinc projects in South America that demonstrate the potential to receive capital investment and be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia.

The 100%-owned La Solucion Mine, which produces approximately 2,300 tonnes of ore each month averaging 44g/t silver, 1.3% lead and 4.11 % zinc (2006 average), has a 17 year production history and hosts a 120 tonne per day flotation mill. Apogee management is focused on modernizing mining methods, improving revenue, increasing efficiencies, and delineating a NI 43-101 Resource Estimate that will support expanded production in the intermediate and long-term time frames.

Apogee’s Pulacayo-Paca project is a Joint Venture with Apex Silver Mines Ltd. on the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production. The Buena Vista Project is a high-grade gold-silver project with historic production dating back over 200 years.

For further information contact: John Carlesso
President & C.E.O.
(416) 861-5881

Regulatory Footnotes:

Mr. Douglas A. Currie, MAusIMM, Apogee’s Vice President-Exploration, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release.

All analytical work has been completed by ALS Chemex of North Vancouver, BC, Canada; ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes.

Samples are transported from field projects to the ALS Chemex sample preparation facility in Oruru, Bolivia, by Company personnel or a reputable commercial carrier. All analytical testing is performed utilizing a variety of industry standard analytical techniques, including: (i) ALS Analytical Code ME-MS41 – 50 element analysis using aquaregia digest and ICPAES analysis, (ii) ALS Analytical Code AA46 & AA62 – specific element analysis using aquaregia digest and AAS determination (Ag, Zn, Pb, Cu, As) and, (iii) Analytical Code Au-AA26 – Gold using a 50g Fire Assay-AAS finish.

All diamond drill core is geologically logged and sampled by Company geologists then is cut in half using a diamond saw and sampled in one(1) meter sample intervals; the archive portion of the sample is securely stored at each project site. The Company has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks and routinely repeats sample analysis.

Statements in this release that are not historical facts are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these “forward-looking statements”.

To view TABLE 1 La Solucion Project HAMPATURI SOUTH: www.prophecycoal.com/apogee/pdf/feb15_2007_La_Solu_Proj.pdf

FIGURE 1

FIGURE 2