Apogee’s Pulacayo Development Project Receives Acceptance from Bolivian Environmental Authority

Apogee Minerals Limited (“Apogee” or “the Company”) (TSX VENTURE:APE) is pleased to announce that it has received notice from the Bolivian Ministry of Environment and Water (“MEW”) which accepts the Company’s recommendations for its Pulacayo Development Project set out in its submission entitled, “Environmental Form: Mineral Extraction, Milling and Construction of Tailings Facilities – Pulacayo”, submitted to the MEW in November, 2009. The submission forms part of the Company’s requirement to have the Pulacayo Project categorized for development. The report was prepared on the Company’s behalf by Medio Ambiente Mineria e Industria, a well respected independent Bolivian environmental engineering consulting firm.

The MEW has categorized the Pulacayo Project as a “Category 1” project and has provided the Company with the terms of reference required to prepare the Baseline Environmental Impact Study required to obtain the necessary environmental licences and permits for development of the project. Pursuant to Bolivian regulations, it is anticipated that this process will be completed within a year.

Joaquin Merino, the Company’s VP Exploration stated, “This is a significant milestone in the development of the Pulacayo Project. The Bolivian Government has authorized the Company to finalize the appropriate environmental studies to obtain the required permits for construction and operation of a mine at Pulacayo. We are very pleased with the efficient review process undertaken by the technical staff of the Bolivian Ministry of Environment and Water and the support we have received from the Bolivian Ministry of Mines.”

About Apogee Minerals Limited

Apogee Minerals Ltd. is an exploration stage company a 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 rapidly 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 submission to the Bolivian Ministry of Environment and Water, preparation of the Baseline Environmental Impact Study, statements regarding exploration prospects, 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.

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