Apogee Minerals Ltd.

Apogee Minerals Ltd.

October 07, 2010 07:00 ET

Apogee Provides Update on Environmental Permitting and Environmental Baseline Studies for the Pulacayo Project, Bolivia

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2010) - Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:APE) is pleased to provide an update on the ongoing environmental monitoring and baseline studies required to secure the necessary permits from the Bolivian Ministry of Water and Environment (the "BMWE") for the proposed development of the Pulacayo deposit, located in southwest Bolivia.

The environmental monitoring report for Semester 2 (dry season) at the Pulacayo project has been submitted to the Environmental Authority of the District of Potosi in accordance with the previously submitted  "Application and Environmental Control Plan of Apogee Minerals". The report was prepared on behalf of Apogee by Medio Ambiente Mineria e Industria, ("Medmin") a respected independent Bolivian environmental engineering consulting firm based in La Paz, who are also managing Apogee's Environmental Impact Assessment Study (the "EEIA").

Apogee also reports the completion of the acquisition of environmental baseline data for Semester 2 (dry season) for the EEIA. The EEIA is required to obtain the Environmental Impact Declaration ("EID"), in order to secure permits to conduct mining and milling operations at Pulacayo. The data was acquired for critical environmental ecosystem factors as prescribed by the BMWE in response to Apogee's November, 2009 submission to ministry titled, "Environmental Form: Mineral Extraction, Milling and Construction of Tailings Facilities – Pulacayo". It included baseline sampling of flora, fauna, soil, sedimentology, hydrology and atmosphere. The program was designed and managed by Medmin with the sampling and data analysis undertaken by the Bolivian branch of Spectrolab, an independent global environmental analytical services company.

Apogee also reports that it has extended the scope of its contract with Medmin to include the completion of the "Integrated Socioeconomic Study" which is also a requirement of the EEIA. The Integrated Socioeconomic Study will consist of four individual component studies including, a socioeconomic baseline study, an agricultural baseline study, a social ethnic-cultural baseline study, and an archeological baseline study. The Company anticipates that the Integrated Socioeconomic Study will be completed by February 2011 and expects it will be available for submission as part of the EEIA at that time.

The exploration program which is designed to increase confidence in the resource and continue to expand the resource continues at Pulacayo and further results from that program will be released in the near future as data is received.  For detailed project information please refer to Apogee's web site at www.apogeeminerals.com.

About Apogee Minerals Limited

Apogee Minerals Ltd. is an exploration stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced stage silver-zinc-lead projects in South America that demonstrate potential to be accelerated to production. Currently its projects are located in the historic silver producing regions of southwest Bolivia and northern Chile.

Its most advanced project is the Pulacayo-Paca project in Bolivia, which is an option to joint venture with Golden Minerals Company. This project includes the property that covered the second-largest silver mine in the history of Bolivia with 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 the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding the proposed timing and results of the environmental baseline studies, statements regarding the preparation of the EEIA and the Integrated Socioeconomic Study, statements regarding the ability of the Company to secure the necessary permits with respect to the Pulacayo property, statements regarding exploration prospects, and requirements for additional capital. 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.


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