Apogee Silver Confirms Progress of Its Independent Feasibility Study and Files NI 43-101 Technical Report for Its Pulacayo Pr...

Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE) confirms that
the independent feasibility study currently being undertaken for the development
of its 100% controlled Pulacayo Silver-Lead-Zinc Deposit, Potosi District,
Quijjaro Province, Bolivia remains on track for completion in 2012. The
feasibility study was awarded to TWP Sudamerica S.A. (See Press Release May 29,
2012).


The Company further announces that it has filed the National Instrument 43-101
compliant technical report entitled "Updated Mineral Resource Technical Report
for the Pulacayo Silver-Lead-Zinc Deposit, Pulacayo Township, Potosi District,
Quijjaro Province, Bolivia" in support of the September 28th, 2012 news release,
which disclosed the results of the updated mineral resource estimate
representing a significant increase in resources from an earlier mineral
resource estimate dated October 19th, 2011, for the Pulacayo Deposit located in
southwestern Bolivia.


The Technical Report is available at the companies profile on SEDAR at
www.sedar.com and on Apogee Silver Ltd's website at www.apogeesilver.com, and
forms the basis for the feasibility study currently underway.


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.


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 anticipated timing of the feasibility study and
the mineral resource estimate, the potential effect of the metallurgical
results, the impact and anticipated timing of future metallurgical results,
potential effect of the toll milling and trial mining process and impact upon
the future development of the property, the potential of the Cachinal property,
the future financial or operating performance of the Company, its subsidiaries
and its projects, the development of and the anticipated timing with respect to
the Pulacayo-Paca project, the anticipated timing with respect to completion of
the diamond drill program, the current drill program, anticipated timing with
respect to the trial mining program and statements regarding exploration
prospects.

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.


On Behalf of the Board,

Neil T. Ringdahl, Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT: 
Apogee Silver Ltd.
Marilia Bento
Vice President Corporate Development
[phone]
[e-mail]


Apogee Silver Ltd.
Neil T. Ringdahl
Chief Executive Officer
[phone]
[e-mail]
www.apogeesilver.com