Apogee Minerals Ltd.
TSX VENTURE : APE

Apogee Minerals Ltd.

November 21, 2008 07:30 ET

Apogee Halts Production at La Solucion Mine, Bolivia

TORONTO, ONTARIO--(Marketwire - Nov. 21, 2008) - Apogee Minerals Ltd. (TSX VENTURE:APE) today announced it has suspended production at its silver-zinc-lead mining operation, located north of La Paz in Bolivia. Declining metal prices and lower grades at the mine combined with higher smelting costs and taxes relative to last year have rendered the operation sub economic under present conditions. The company is in discussions with union officials and with Bolivian Ministry of Mines officials to review best alternatives for the future of the operation and will provide further information on conclusion of these discussions.

About Apogee Minerals

Apogee Minerals Ltd. is a Canadian producer of silver-zinc-lead and also carries out exploration and development activities. The Company is listed on the TSX Venture Exchange under the symbol APE. Apogee is focused on advanced silver-zinc-lead projects in South America that demonstrate the potential to be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia.

The main focus of the Company is on advancement of Pulacayo-Paca project in southwest Bolivia which is an option to joint venture with Apex Silver Mines Limited. The project occupies the property that includes the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production. The Company's 100%-owned La Solucion Mine is located north of La Paz, Bolivia and has a 15 year production history.

Forward Looking Statements

This document may contain or refer to forward looking information based on current expectations, including, but not limited to, future operations; reclamation liabilities; relations with government and union officials and the impact of strategic decisions on the company. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not put undue reliance on forward-looking information. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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