Apogee Intersects 27.2 Meters Grading 405.03 g/t Silver and 19.9 Meters Grading 122.89 g/t Silver at Pulacayo

TORONTO, ONTARIO — (MARKET WIRE) — 08/09/10 — Apogee Minerals Ltd. (“Apogee” or the “Company”) (TSX VENTURE: APE) reports assay results from four diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia. All of the reported holes were drilled from surface.

The surface holes were drilled to continue delineation of the deposit along strike east of the previously released National Instrument 43-101 (“NI 43-101”) resource, where diamond drilling, ongoing since January 2010, has successfully extended the deposit an additional 350 meters. (See Press Releases dated July 14th 2010, April 19th 2010, March 15th, 2010, Janruary15th 2010, and the NI 43-101 technical report dated December 2008 and filed under the SEDAR profile of the Company at www.sedar.com).

The highlights from these holes include:

— DDH PUD 150 intersected 27.20 meters grading 405.03 g/t silver, 0.28% lead and 0.61% zinc.

— DDH PUD 151 intersected 19.90 meters grading 122.89 g/t silver, 0.35% lead and 1.26 % zinc within a 65.0 meter interval grading 75.39 g/t silver, 0.18% lead and 0.60% zinc.

The Company has now completed seventeen drill holes in this area east of the previously released NI 43-101 resource.

Chris Collins, P. Geo., President of Apogee states, “We are very excited by the results from our ongoing drilling which is expanding the deposit. The intersection in DDH 150 in particular is one of the highest grade intercepts over significant width encountered in drilling to date at the Pulacayo Deposit. We continue to delineate the extension of the deposit and it is showing good continuity. The grades and widths of the intersections are comparable to the drill holes within the area comprising the mineral resources used in the recently completed Technical Report on the Preliminary Assessment of the Pulacayo Project, (“PEA”), by Micon International Ltd. (See Press Release dated June 24, 2010). Given such continued excellent drill results we remain confident that additional drilling in this area will increase the resource at Pulacayo and expect that will further enhance the potential development plans for the deposit.”

Table 1 Summary of Significant Intercepts

The Pulacayo Deposit is a thick east-west striking zone of conjugate veins, stockwork and disseminated sulphides that locally are up to 200 meters thick with a higher grade core that comprises the resource and may locally exceed 60 meters in thickness. The known strike length of the Tajo Vein System which hosts the Pulacayo deposit is close to 3 kilometers and it remains open at both ends along strike (Figure 2). Mineralization comprises sphalerite, galena and tetrahedrite in sulphide-rich veins ranging from a few centimeters to greater than one meter thick and heavily disseminated sphalerite, galena and tetrahedrite between the veins.

The Company anticipates filing of the PEA on the SEDAR profile of the Company shortly.

Quality Control

The Company employs a quality assurance/quality control protocol on all aspects of the diamond drilling, sampling and analytical procedures. The Quality Control and all aspects of the exploration program are supervised by Apogee’s Vice President of Exploration, Joaquin Merino, P. Geo, a qualified person as defined by NI 43-101. Mr. Merino has reviewed and approves the scientific and technical information presented in this press release.

For detailed project information please refer to Apogee’s web site at www.apogeeminerals.com

This release has been reviewed and approved by Chris Collins, P. Geo., President of Apogee and a qualified person as defined by NI 43-101.

About Apogee Minerals Limited

Apogee Minerals 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 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 future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding the drill program at Pulacayo, development of the Pulacayo project, statements regarding exploration prospects and the results of the PEA, 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.

To view Figure 1: Pulacayo Project location map, please visit the following link: www.prophecycoal.com/apogee/pdf/Apogee_Figure_1.pdf

To view Figure 2: Tajo Vein System, plan view, please visit the following link: www.prophecycoal.com/apogee/pdf/Apogee_Figure_2.pdf

To view Figure 3: Pulacayo Deposit Vertical Longitudinal Sections, please visit the following link: http://www.prophecycoal.com/apogee/pdf/Apogee_Figure_3.pdf

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

Contacts:
Apogee Minerals Ltd.
Chris Collins
President
+1 416 861-2264
info@apogeesilver.com
www.apogeesilver.com