Technical Study Filed on SEDAR
The Technical Report, entitled "NI 43-101 Technical Report - Pulacayo Project Feasibility Study", has been prepared by TWP Sudamerica S.A. ("TWP"). The Technical Report has an effective date of January 17, 2013 and will be available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.apogeesilver.com.
The results of the Technical Report were originally announced in a news release dated January 17, 2013, and since that date no material amendments have been made to the Technical Report other than the following correction: The lead metal in the feasibility study and used in the calculation of the Probable Reserve Estimate should have read US$0.86/lb and not US$0.89/lb as previously stated.
Independent Qualified Persons
Professor Jim Porter is a Fellow of the Southern African Institute of Mining and Metallurgy and Director of the Centre for Mechanised Mining Systems at the University of the Witwatersrand, and accordingly a qualified person under National Instrument 43-101. He is responsible for the Mineral Reserve Estimate and has reviewed and approved the mineral feasibility study section of this press release.
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. There are currently 301,066,809 common shares of Apogee issued and outstanding.
Its most advanced project is the 100% controlled Pulacayo-Paca project in Bolivia. This project includes the property that covered the second-largest silver mine in the history of Bolivia with a historical estimate of over 600 million ounces of past production.
On Behalf of Apogee Silver Limited,
Neil T. Ringdahl G. Scott PatersonChief Executive Officer Chairman
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 about the results of the Technical Report and the development potential of the Company and its Project; the timing and amount of future exploration and development of the Project; and the future financial or operating performance of the Company and its projects. 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". Estimates underlying the results of the feasibility study arise from engineering, geological and costing work of KCA, MDA and the Company. See the Technical Report relating to the feasibility study for a description of all relevant estimates, assumptions and parameters. 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: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. 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.
Apogee Silver Ltd.
Vice President Corporate Development
+1 (416) 309-2694
Apogee Silver Ltd.
Neil T. Ringdahl
Chief Executive Officer
+1 (647) 339-4484