Apogee Minerals Announces Private Placement Financing

TORONTO, ON September 19, 2005: Apogee Minerals Ltd. (TSX Venture Exchange: APE) plans to raise up to $3,000,000 by way of a non-brokered private placement through the issuance of Units priced at $0.37. Each Unit will consist of one common share and one half common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at the price of $0.55 for a period of eighteen months from the closing date. The private placement offering is subject to regulatory approval.

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”.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws an may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registrations is available.

This press release is available on the company’s official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit www.agoracom.com/IR/Apogee. Alternatively, investors are asked to email all questions and correspondence to APE@agoracom.com where they can also request addition to the Apogee Minerals investor email list to receive all future press releases and updates directly.

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

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