Apogee Retains Zone Capital Partners as Financial Consultants

TORONTO, ONTARIO–(Marketwire – April 16, 2012) –

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Apogee Silver Ltd. (“Apogee” or the “Company”) (TSX VENTURE:APE) is pleased to announce that, subject to receipt of regulatory approval, it has retained the services of Zone Capital Partners (“ZCP”) to provide financial consulting and investor relations services to the Company, effective April 2, 2012.

Neil Ringdahl, Chief Executive Officer of the Company, stated, “We believe that we have a compelling story to tell the marketplace and we look forward to working with Zone Capital Partners on a series of institutional roadshows.”

In connection with the engagement, ZCP has been granted a consulting contract for $10,000 per month for a minimum term of six months and such contract may be terminated any time upon thirty days written notice. In addition, ZCP has been granted 2,000,000 stock options at a price of $0.22. The options shall vest quarterly and shall remain subject to a four month and one day statutory hold period expiring on August 14, 2012. The options shall remain subject regulatory approval and shall expire on April 13, 2017, in accordance with the termination provisions of Apogee’s Stock Option Plan.

About Zone Capital Partners:

Zone Capital Partners is a U.S. based consulting firm whose core focus is in the commodity sector. Founded and capitalized in 2008 by Ira W. Miller, ZCP’s CEO, the firm has represented in excess of one billion dollars of aggregate client capitalization. In addition Mr. Miller serves on UCLA’s economic board of visitors. Mr. Miller stated, “We are very enthused about the growth prospects of Apogee Silver and we are highly confident of their success.”

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

About Apogee Silver Ltd.

Apogee Silver 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 100% owned Pulacayo-Paca project in Bolivia, 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 engagement of ZCP, statements made regarding the anticipated timeline with respect to the development of the Pulacayo project, mineral resource estimates, mineral prices, the potential benefits of the engagement, exploration and development timetables and budgets, the ability to secure the necessary permitting and future production scenario’s. 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.

On behalf of the Board,

Neil T. Ringdahl, Chief Executive Officer

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

FOR FURTHER INFORMATION PLEASE CONTACT:

Apogee Silver Ltd.
Marilia Bento
Vice President Corporate Development
+1 (416) 309-2694
info@apogeesilver.com

Apogee Silver Ltd.
G. Scott Paterson
Chairman of the Board
+1 (416) 368-6464
info@apogeesilver.com
www.apogeesilver.com
Source: Apogee Silver Ltd.