Apogee Enters Agreement with Trafigura for Sale of Concentrates from La Solucion Mine

TORONTO, ON February 5, 2007 Apogee Minerals Ltd. (TSX Venture Exchange: APE) has reached an agreement with Consorcio Minero SA (CORMIN) for the sale of zinc and lead concentrates produced from Apogee’s La Solucion mine for the 2007 calendar year. CORMIN is an entity owned by Trafigura Beheer BV.

Apogee Vice-President of Operations and COO Rick Irvine stated: “We are very pleased to have entered into this agreement with CORMIN. Through the strength of Trafigura’s South American base, CORMIN brings valuable knowledge, expertise and understanding of local issues. ”

Apogee will benefit from this new concentrates sales relationship through improved terms over those in place in previous years, lower costs and increased security in the handling of concentrates from site to port, and more favourable provisional payments of concentrate sales allowing improved cash flow for operations.

Trafigura ranks high amongst the world’s largest metal trading companies and has substantial base metal investments in South America. Trafigura is also an active participant in the financing of mining operations.

Building A Premier Emerging 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 has a 14 year production history and hosts a 120 tonne per day flotation mill. The 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

Mark Feeney
Director of Business Development (604) 786-2587

Regulatory Footnotes:

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 developments or results may vary materially from those in these “forward-looking statements”.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.