Apogee Issues Final Payment to Golden Minerals Company for the Pulacayo-Paca Silver Project, Bolivia

Apogee Silver Limited ("Apogee" or "the Company") (TSX VENTURE:APE) is pleased
to announce that it has issued the final payment to Golden Minerals Company
("GMC") (TSX:AUM)(NYSE MKT:AUMN)(NYSE Amex:AUMN) in connection with the
definitive agreement (the "Agreement") entered into between the Company and GMC
in January 2011 to acquire all of the issued and outstanding shares of an
indirectly held subsidiary of GMC, which holds a 100% interest in the
Pulacayo-Paca Project located in Bolivia (See Press Release dated January 21,
2011). 


Pursuant to the Agreement, on July 27, 2012, the Company issued to GMC an
additional 3,000,000 common shares of Apogee and has paid GMC a cash fee in the
amount of $500,000, which concludes Apogee's payment obligations under the
Agreement. 


Neil Ringdahl, the C.E.O. of the Company, noted, "Golden Minerals has been an
excellent partner and we are pleased to have completed our final payment under
the agreement. This transaction solidifies our commitment to the development and
further exploration of the Pulacayo and Paca projects." 


For detailed project information please refer to Apogee's web site at
www.apogeesilver.com.


About Apogee Silver Limited 

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. As of the date
hereof, there are 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.


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
acquisition of the Pulacayo-Paca property, the development of the Pulacayo-Paca
project, 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.