All of the securities issued in connection with this placement are subject to resale restrictions which expire on August 5, 2013. The financing remains subject to receipt of final approval from the TSX Venture Exchange.
The Company intends to use net proceeds to continue the development of its key projects situated in Bolivia and for working capital purposes.
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 is a Qualified Person as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data in 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 may contain "forward-looking information" or information deemed to be forward-looking within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about the results of Apogee's technical reports and the development potential of the Company and/or its projects; the timing and amount of future exploration and development of its projects; and the future financial or operating performance of the Company and/or 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". 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