Apogee Minerals Ltd.
TSX VENTURE : APE

Apogee Minerals Ltd.

April 03, 2007 08:30 ET

Apogee Discovers New Silver-Zinc Zone Along Hampaturi Southwest at La Solucion Mine

Includes 5m of 114 g silver/t, 3.47% zinc, 2.86% lead, 0.09 g gold/t

TORONTO, ONTARIO--(CCNMatthews - April 3, 2007) - Apogee Minerals Ltd. (TSX VENTURE:APE) has intersected significant new silver-zinc-lead mineralization at the Hampaturi Southwest target, 150m along strike from the Hampaturi South Zone, at the southwestern end of Apogee's 100% owned La Solucion Mine.



Mineralized intersections include:

- SH-65 5.0m (2.99m TT) 114.6g silver/t, 3.47% zinc, 2.86% lead,0.09g gold/t
Incl 2.0m (1.20m TT) 255.5g silver/t, 6.76% zinc, 6.32% lead,0.09g gold/t

- SH-61 3.0m (2.31m TT) 37.33g silver/t, 3.99% zinc, 1.10% lead,0.04g gold/t
Incl 1.0m (0.77m TT) 87.00g silver/t, 3.63% zinc, 2.96% lead,0.07g gold/t

(TT equals True Thickness)


Vice President, Exploration Doug Currie stated: "Once again, step-out drilling has successfully located high grade silver-zinc mineralization along the Hampaturi structure. These results indicate there is potential to delineate an additional shoot parallel to the recently defined resource at Hampaturi South, and confirm our belief in the exploration potential of the structure which has a strike length of approximately 10km."

The new mineralization discovered at Hampaturi Southwest is located approximately 150m to the southwest and along strike of the Hampaturi South Zone, within the strike extension of the main Hampaturi Vein structure which is the host to mineralization currently being mined by Apogee at the La Solucion mine (Figures 1, 2).

Apogee recently released final results of definition drilling and a mineral resource estimation for the Hampaturi South Zone (See Press Releases February 15, 2007 and February 21, 2007), as follows:



INDICATED MINERAL RESOURCES
HAMPATURI SOUTH ZONE

------------------------------------------------------------------------
Tonnes Zinc % Silver Zinc Lead
Equivalent g/t % %
------------------------------------------------------------------------
Indicated Resource 116,300 6.1 54 5.1 1.2
------------------------------------------------------------------------

------------------------------------------------------------------------
Contained Metal 121,200oz 11.22M lbs 2.46M lbs
------------------------------------------------------------------------

------------------------------------------------------------------------
"Zinc Equivalent" was calculated using the following formula:
ZnEq equals Zn(%) + Ag(g/t) x 0.008 + Pb(%) x 0.4
"Contained Metal" was calculated using the following metallurgical
recoveries: 60% silver, 85% zinc and 80% lead; no consideration of
mining or metallurgical dilution
------------------------------------------------------------------------


Apogee President and CEO John Carlesso commented: "This continued exploration success at La Solucion underscores the unique opportunity that is being presented to our company; having existing production along with the potential to expand resources and production rates. This gives us a measure of self-sustainability through cashflow while simultaneously developing the blue-sky potential of the project."

Three of six drillholes completed at Hampaturi Southwest, SH-61, 63 and 65, intersected significant mineralization in quartz-siderite veins, with sphalerite, galena, chalcopyrite and varying amounts to abundant pyrite, similar in style to those present within the La Solucion Mine and at Hampaturi South.

Although it is premature to speculate on the potential geometry and size of any mineralized body to be delineated at Hampaturi Southwest, Apogee's exploration team believes there is potential for a northerly plunging shoot parallel to that defined at Hampaturi South which measures approximately 100-125m wide, 125-150+m down dip/plunge and averaging 4.3m in True Thickness. The Hampaturi South shoot is still open at depth, the southwestern boundary has not been defined and also may also be open (Figure 2).

Drilling is required to further define the Hampaturi Southwest Zone and particularly to drill between this and the Hampaturi South Zone to see if mineralization is continuous between the two zones.

Further drilling is also still required to evaluate shallow mineralization encountered in holes SH-39, 56, 58 and 59 beneath historical workings between Hampaturi South and the main La Solucion Mine immediately below the -45Level (Press Release February 15, 2007).

Apogee is currently preparing drill platforms to commence the next phase of drilling at Hampaturi Southwest.

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 sufficient mineral resources 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.

Regulatory Footnotes:

Mr. Douglas A. Currie, MAusIMM, Apogee's Vice President -Exploration, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release.

All analytical work has been completed by ALS Chemex of North Vancouver, BC, Canada; ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes.

Samples are transported from field projects to the ALS Chemex sample preparation facility in Oruru, Bolivia, by Company personnel or a reputable commercial carrier. All analytical testing is performed utilizing a variety of industry standard analytical techniques, including: (i) ALS Analytical Code ME-MS41 - 50 element analysis using aquaregia digest and ICPAES analysis, (ii) ALS Analytical Code AA46 & AA62 - specific element analysis using aquaregia digest and AAS determination (Ag, Zn, Pb, Cu, As) and, (iii) Analytical Code Au-AA26 - Gold using a 50g Fire Assay-AAS finish.

All diamond drill core is geologically logged and sampled by Company geologists then is cut in half using a diamond saw and sampled in one(1) meter sample intervals; the archive portion of the sample is securely stored at each project site. The Company has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks and routinely repeats sample analysis.

The Hampaturi South mineral resource estimation referred to in this release was prepared by Mr Reno Pressacco, a Qualified Persons, of Micon International Limited in a NI43-101 Technical Report titled, "Technical Report on the Mineral Resource Estimate for the Veta Hampaturi Sur, La Solucion Mine, La Paz, Bolivia", which will be filed shortly on SEDAR. Mr Pressacco has provided his consent for reference to his report in this press release.

Statements in this release that are not historical facts are "forward -looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these "forward -looking statements".



TABLE 1
La Solucion Project
HAMPATURI SOUTHEST

---------------------------------------------------------------
---------------------------------------------------------------
Collar Coordinates Depth Azi Dip
---------------------------
Hole No E N Elev. (m) (degrees) (degrees)
------- ---------

---------------------------------------------------------------
SH-60 605,062 8,185,827 4,227.00 109.00 295 -35
---------------------------------------------------------------

---------------------------------------------------------------
SH-61 605,062 8,185,827 4,227.00 107.00 295 -55
---------------------------------------------------------------
Incl.
---------------------------------------------------------------
Incl.
---------------------------------------------------------------
Incl.
---------------------------------------------------------------

---------------------------------------------------------------
SH-62 605,063 8,185,828 4,227.00 60.00 344 -45
---------------------------------------------------------------

---------------------------------------------------------------
SH-63 605,062 8,185,827 4,227.00 70.00 277 -35
---------------------------------------------------------------

---------------------------------------------------------------
SH-64 605,061 8,185,828 4,227.00 90.00 260 -35
---------------------------------------------------------------

---------------------------------------------------------------
SH-65 605,262 8,185,827 4,227.00 100.00 270 -60
---------------------------------------------------------------
Incl.
---------------------------------------------------------------
Incl.
---------------------------------------------------------------
Incl.
---------------------------------------------------------------
Incl.
---------------------------------------------------------------


------------------------------------------------------------------
------------------------------------------------------------------
Inter-
Hole No From To Inter- preted Zn Pb Ag Au
section True
(m) (m) Width Thickness (%) (%) (g/t) (g/t)
------------------------------------------------------------------

------------------------------------------------------------------
SH-60 No Significant Results
------------------------------------------------------------------

------------------------------------------------------------------
SH-61 59.00 62.00 3.00 2.31 3.99 1.10 37.33 0.04
------------------------------------------------------------------
Incl. 60.00 62.00 2.00 1.54 5.69 1.60 54.50 0.05
------------------------------------------------------------------
Incl. 60.00 61.00 1.00 0.77 3.63 2.96 87.00 0.07
------------------------------------------------------------------
Incl. 61.00 62.00 1.00 0.77 7.74 0.23 22.00 0.03
------------------------------------------------------------------

------------------------------------------------------------------
SH-62 No Significant Results
------------------------------------------------------------------

------------------------------------------------------------------
SH-63 64.00 65.00 1.00 0.76 2.03 0.01 8.00 0.03
------------------------------------------------------------------

------------------------------------------------------------------
SH-64 No Significant Results
------------------------------------------------------------------

------------------------------------------------------------------
SH-65 84.00 89.00 5.00 2.99 3.47 2.86 114.60 0.09
------------------------------------------------------------------
Incl. 84.00 87.00 3.00 1.79 5.28 4.29 175.33 0.07
------------------------------------------------------------------
Incl. 85.00 87.00 2.00 1.20 6.76 6.32 255.50 0.09
------------------------------------------------------------------
Incl. 85.00 86.00 1.00 0.60 4.11 3.93 151.00 0.10
------------------------------------------------------------------
Incl. 86.00 87.00 1.00 0.60 9.40 8.70 360.00 0.07
------------------------------------------------------------------


To view Figure 1, the map of Hampaturi South Zone, please visit the link below:

http://www.ccnmatthews.com/docs/apefig1.pdf

To view Figure 2, Drill intersections of Hampaturi Southwest la Solucion Project, please visit the link below:

http://www.ccnmatthews.com/docs/apefig2.pdf

Contact Information

  • Apogee Minerals Ltd.
    John Carlesso
    President & C.E.O.
    (416) 861-5881