New Drill Results at Apogee’s Buena Vista Confirms the Presence of High Grade Gold and Silver Mineralization

TORONTO, ON June 23, 2005 Apogee Mine rals Ltd.(TSX Venture Exchan ge : APE) has received analytical results for the first three of thesix holes from its Phase 1 drilling program at the Buena Vistaproject in the Potosi district of southwestern Bolivia. Apogee has completed 6 diamond drill holes totalling 1200 metres to test the vein structure on the property over a strike length of 800 metres. The results to date from the preliminary 6-hole drill program confirm the high grade nature of the mineralization.

Assay results from Hole BV-B1 included several significant high grade Gold-Silver-Lead-Zinc veins, including 1 meter of 17.8 g/t Gold, 90.8 g/t Silver, 11.5% Zinc and 4.7% Lead, and 3 meters of 3.5 g/t Gold, 18.9 g/t Silver, 2.0% Zinc and 1.0%Lead. Hole BV-B3A intersected 4.0 meters of 4.0 g/t Gold, 41.7 g/t Silver, 1.3% Zinc and 2.7% Lead, and 3 meters of 3.2 g/t Gold, 62 g/t Silver, 2.5% Zinc and 4.1% Lead.

The mineralization intersected in Hole BV-B1 is 50 metres below channel samples across the zone on the San Pablo level that returned 3.8 meters of 42.0 g/t Gold, 61.3 g/t Silver, 8.7% Zinc and 6.0% Lead (see attached cross section in Figure 1).

Apogee Vice-President Exploration Robert Campbell commented: “These new drill results are very significant and confirm the presences of high-grade Gold-Silver-Zinc-Lead veins. These holes are located on the eastern end of the vein system. Additional assays are expected shortly from holes drilled in the central and western parts of the vein, where surface and channel sampling have also shown strong Gold, Silver, Zinc, Lead, and Copper mineralization” (see Press Release dated May 24, 2005).

The Bolivian Altiplano and Eastern Cordillera hosts an important metallogenic event. Major hydrothermal ore deposits of gold, silver, tin, lead, zinc, bismuth and antimony are related to near-surface stocks and subvolcanic eruptive centers. The mineralization occurs in veins, fracture swarms, dissemination and breccias. The deposits are telescoped with early high temperature phases and have some affinities with the epithermal low-sulfidation type model.

The Buena Vista property is located in southwestern Bolivia, approximately 600 km south southeast of La Paz, within the San Antonio de Lipez District, Potosi Department, near the border with Argentina. The property is comprised of one 200 ha block.

Apogee’s Phase 1 Exploration program at the Buena Vista consists of detailed geological mapping, re-sampling existing trench and underground workings to verify previous results, new surface sampling and 6 holes totalling 1,200 metres of diamond drilling.

Apogee’s next phase of work will focus on reviewing results from the present program, completing the compilation on the rest of the veins, underground and surface sampling and trenching, mapping, and preparing the property for an aggressive drill program.

All analytical work has been completed by ALS Chemex of North Vancouver, BC, Canada. A suite of 30 elements was analyzed using aqua regia digest and ICPAES analysis (ALS Analytical Code ME-MS41). Any samples exceeding threshold limits were re-analyzed using the most appropriate technique: silver, zinc and lead – agua regia digestion, AAS finish (ALS Analytical Code AA46), gold – 30g fire assay with AAS finish (ALS Analytical Code AA25). ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes. The company has initiated a QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks.

Mr. Robert Anderson Campbell, M.Sc., P.Geo., is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release.

Apogee Minerals Ltd. Is a Canadian exploration and development company listed on the TSX Venture Exchange under the symbol APE. The company has several advanced Silver-Zinc-Lead exploration properties in the historic Potosi Department of southwestern Bolivia, and has an agreement to acquire the Silver-Zinc-Lead producing La Solucion Mine located 17 km outside of La Paz.

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 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 http://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

To view Table 1 Table 1 – Significant Assay Results: www.prophecycoal.com/apogee/pdf/jun23_2005_Tb_Significant_Assay_Results.pdf