Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE) announces that
the Company received US$233,000 representing approximately 85% of the gross
proceeds for the delivery of 21 dry tonnes ("DMT") of lead-silver and 160 DMT of
zinc-silver concentrates, following further successful custom milling and
bulk-scale flotation tests undertaken on mineralized material from the Pulacayo
Project in March 2013. The concentrate was sold to Consorcio Minero S.A.
(Cormin), a wholly-owned subsidiary of the Trafigura Group. The outstanding
balance of payment is expected in approximately four months once final analysis
of the concentrates is completed. Further details provided below.


The Company's lead-silver concentrate was produced under a custom milling
contract at the cooperative Fedecomin concentrator in Potosi department, Bolivia
during February and March 2013. Fedecomin is one of several concentrators being
used in the area for custom toll milling and bulk-scale test work of mineralized
material from Pulacayo. Milling has also been taking place at the Tatasi
concentrator. The proceeds received by the Company from the sale of concentrates
are net of shipping costs. As per the statutory requirements in Bolivia, metal
export royalties are paid in advance (6% for silver and 5% for lead). NSR
royalties related to the underlying agreements of the property (1.5% to the
Pulacayo Cooperative and 2.5% to the Corporation Minera de Boliva (COMIBOL)) are
payable once final analysis and payment is made by Cormin. Preliminary tonnages
and concentrate grades for the material shipped are provided in Table 1.




              Table 1: Preliminary grades of concentrates sold              
                                                                            
----------------------------------------------------------------------------
Concentrate          Dry Metric Tonnes      Ag (g/t)      Pb (%)      Zn (%)
----------------------------------------------------------------------------
Lead                             21.08         6,608        63.9            
----------------------------------------------------------------------------
Zinc                            160.55         1,248                    41.8
----------------------------------------------------------------------------



Chief Executive Officer of Apogee, Neil Ringdahl, stated: "We are delighted with
our trial mining and milling performance to date. The Bolivian mining team have
completed their training phase and have sufficient experience to ramp up
production safely. The Company remains committed to training and employing its
work force from local communities. A stockpile of over 3,000 tonnes has been
built up at the mine site for processing while mine production ramps up."


Grant of Options

The Company has granted an aggregate of 11,270,000 stock options to certain
directors, officers, employees and consultants of the Company at an exercise
price of $0.10. The options shall vest immediately and will expire on the five
year anniversary from the date of grant, in accordance with the terms of
Apogee's stock option plan and shall remain subject to a statutory hold period.
The options shall remain subject to receipt of all necessary regulatory
approvals, including the approval of the TSXV.


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.


Apogee's 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.


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, including in
relation to payments associated with the sale of the Company's concentrates.
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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Apogee Silver Ltd.
Marilia Bento
Vice President Corporate Development
+1 (416) 309-2694
info@apogeesilver.com


Apogee Silver Ltd.
Neil T. Ringdahl
Chief Executive Officer
+1 (647) 339-4484
info@apogeesilver.com
www.apogeesilver.com
Apogee Silver Ltd. (TSXV:APE)
Historical Stock Chart
Von Mai 2024 bis Jun 2024 Click Here for more Apogee Silver Ltd. Charts.
Apogee Silver Ltd. (TSXV:APE)
Historical Stock Chart
Von Jun 2023 bis Jun 2024 Click Here for more Apogee Silver Ltd. Charts.