Apogee Silver's Employees Participate in Private Placement

Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE) is pleased to
announce that, after successfully closing a private placement offering for
aggregate gross proceeds of $3,518,500 on April 4, 2013 (the "Initial
Offering"), it has now closed a second tranche of the offering (the "Second
Tranche"), in which an additional three company employees purchased 900,000
units (each, a "Unit") of the Company at a price of $0.05 per Unit for aggregate
gross proceeds of $45,000. The participation was on the same terms as the
Initial Offering and is subject to final approval from the TSX Venture Exchange
(the "TSXV").


In the Initial Offering and the Second Tranche, insiders and employees,
including the Chief Executive Officer, the Chairman, each of the directors and
certain employees of the Company, purchased a total of 10,740,000 Units for
aggregate proceeds of $537,000.


Chief Executive Officer of Apogee, Neil Ringdahl, stated: "We are pleased to
have extended the offering after certain members of our management team at site
expressed a strong desire to participate in the private placement as well, which
further highlights the strong commitment of the team towards the Company's
success."


Each Unit issued in the Second Tranche consists of one common share of the
Company (a "Common Share") and 0.6 of a purchase warrant (a "Warrant"), with
each whole Warrant entitling its holder to purchase one Common Share at an
exercise price of $0.10 per Common Share for a period of 36 months following the
closing of the Second Tranche offering. The terms of the Second Tranche mirrored
the terms of the Initial Offering.


In order to maximize proceeds from both the Initial Offering and the Second
Tranche offering, the Company entered into agreements dated April 4, 2013 with
certain service providers (the "Service Providers") of the Company to settle
debts owed by the Company to the Service Providers through the issuance of Units
rather than cash payments. In accordance with the approval received from the
TSXV, the Company has issued an aggregate of 3,720,000 Units to the Service
Providers, in lieu of $186,000 that was otherwise owing.


All of the securities issued in connection with the Second Tranche offering are
subject to resale restrictions which expire on August 17, 2013. The Second
Tranche offering remains subject to final approval from the TSXV.


The Company intends to use net proceeds of the Initial Offering and the Second
Tranche to continue the development of its key projects situated in Bolivia and
for working capital purposes.


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
[phone]
[e-mail]


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