Apogee Minerals Closes Private Placement Financing of Over $2 Million

TORONTO, ON November 10, 2005: Apogee Minerals Ltd. (TSX Venture Exchange: APE) has closed the second and final tranche of its previously announced private placement financing (see press release dated September 19, 2005). The Company issued a total of the 4,051,123 Units (including the issuance of 1,000,000 Units to Golden Omega Fund LP) at a price of $0.37 per Unit for gross proceeds from the second tranche of $1,498,915.51. Each Unit consisted 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 until May 9, 2007. Each of the common shares and warrants remain subject to a hold period that will expire on March 10, 2006. Total proceeds raised from both tranches of the private placement is $2,081,665.51. The Company has issued options to purchase 800,000 common shares of the Company at an exercise price of $0.38 per common share to directors, officers and consultants of the Company, subject to regulatory approval.

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 and 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.

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