Apogee Minerals Ltd.

Apogee Minerals Ltd.

April 27, 2007 08:00 ET

Apogee Announces Senior Executive Changes

TORONTO, ONTARIO--(CCNMatthews - April 27, 2007) - Apogee Minerals Ltd. (TSX VENTURE:APE) has announced changes to its executive team. Mr. David Gower, P. Geo. will be appointed Chief Executive Officer, Mr. Helio Diniz is incoming President, and Mr. Flavio Lamberti will be Vice President, Operations. Current President and CEO John Carlesso will remain on the Apogee Board of Directors, which will be expanded to 6 members to welcome the addition of David Gower.

John Carlesso commented: "I am very pleased to welcome David, Helio, and Flavio to Apogee and hand over the reins to a team of proven operators with successful histories of building and improving mining operations. I am very proud of the progress our team has made over the course of 2006: the rapid pace of resource identification from the early stages of work at our Pulacayo-Paca project has demonstrated the potential of this exciting asset, and the La Solucion mine continues to show potential for resource expansion and production growth. The new management team has my full support and I am confident that their collective skills and abilities are well-suited for further rapid advancement of these key assets."

Incoming CEO David Gower stated: "We see an exciting opportunity to build on the success that has occurred at Pulacayo-Paca and La Solucion. We will move quickly to continue the next phase of drilling at the Paca Open Pit to advance development and move closer to a production decision. Similarly at La Solucion, further delineation of the new mineralized extension of the Hampaturi Southwest vein and implementation of the production expansion plan will proceed immediately. A significant proportion of the new management team is based in South America which will provide for a closer interaction between technical management and the operations. We would like to thank John for his contribution to Apogee, particularly the significant expansion of the resource base, and look forward to his continued support and guidance as a member of the board."

David Gower has more than twenty years exploration experience with Falconbridge, Noranda (now Xstrata) most recently as General Manager of Global Nickel and PGM exploration, including near mine, project development and greenfields projects. David has led exploration teams which were responsible for brownfields discoveries at Raglan and Sudbury, Matagami, Falcondo (Dominican Republic) and greenfield discoveries at Araguaia in Brazil, Kabanga Tanzania and El Pilar, Mexico. He was part of the Senior Operating Team for the nickel business unit including a member of the committee responsible for capital allocations for mining projects. Mr. Gower is also President and CEO of Castillian Resources (TSX VENTURE:CT).

Helio Diniz has twenty-six years in exploration, most recently as Director of Exploration, Brazil for Noranda - Falconbridge (now Xstrata) where he was a primary discoverer of the Araguaia Nickel Deposits, currently undergoing scoping studies by Xstrata. He also assembled one of the most impressive IOCG property portfolios in the renowned and prolific Carajas Mineral District. With Gencor, he was involved in the evaluation and development of the Sao Bento gold mine which operated for 25 years.

Flavio Lamberti has fifteen years' diverse mining engineering experience. Most recently, he was involved with the Jacobina Mine for Desert Sun Mining (now Yamana). Previously he has worked as the Project Manager - Mining for Yamana Resources in Brazil, was Plant Run Engineer for Dow Brasil Nordeste Ltda. (The Dow Chemical Company) and worked for De Beers Consolidated Mines in South Africa for three years.

Building A Premier Silver Producer

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 projects in South America that demonstrate the potential to receive capital investment and be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia.

The 100%-owned La Solucion Mine, which produces approximately 2,300 tonnes of ore each month averaging 44g silver/t, 1.3% lead and 4.11 % zinc (2006 average), has a 17 year production history and hosts a 120 tonne per day flotation mill. Apogee management is focused on modernizing mining methods, improving revenue, increasing efficiencies, and delineating a mineral resource that will support expanded production in the intermediate and long-term time frames.

Apogee's Pulacayo-Paca project is a Joint Venture with Apex Silver Mines Ltd. on the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production. The Buena Vista Project is a high-grade gold-silver project with historic production dating back over 200 years.

Contact Information

  • Apogee Minerals Ltd.
    John Carlesso
    (416) 861-5881
    Apogee Minerals Ltd.
    David Gower
    (416) 861-5902