Apogee Minerals Ltd.
TSX VENTURE : APE

Apogee Minerals Ltd.

August 25, 2005 08:00 ET

Exploration at Apogee's Buena Vista Project Continues to Confirm Presence of High-Grade Gold-Silver-Zinc-Lead Mineralization

TORONTO, ONTARIO--(CCNMatthews - Aug. 25, 2005) - Apogee Minerals Ltd. (TSX VENTURE:APE) has received analytical results for the remaining three holes from its Phase 1 drilling program at the Buena Vista project in the Potosi district of southwestern Bolivia. In addition to the drilling program, new underground channel sampling results have also returned high-grade values of Gold, Silver, Zinc, and Lead. Based on the successful results received from the Phase I program, further drilling and sampling will take place in a Phase II program to be designed shortly, with the objective of delineating a resource on the property.

Drilling

Apogee has completed six diamond drill holes totalling 1200 metres on the property. The drill holes are part of a preliminary Phase 1 exploration program to test the known vein structure over a strike length of 800 metres. The new results from the remaining three holes continue to confirm the high grade nature of the mineralization. The significant assay results (Table 1) from the recently drilled holes include:

- Hole BV-B1A which had several significant high-grade Gold-Silver-Zinc-Lead veins, including 1.0 meter (136-137 metre) of 2.0 g/t Gold, 63.1 g/t Silver, 3.8% Zinc and 3.5% Lead and 1.0 meter (140-141 metre) of 5.4 g/t Gold, 41.8 g/t Silver, 3.4% Zinc and 1.4% Lead. These sections were within a broader 10.0 meter zone (136-146 metres) that returned 1.2 g/t Gold, 2.4 g/t Silver, 1.8% Zinc and 1.5% Lead.

- Hole BV-B4 intersected 1.0 meter (124-125 metre) 3.5 g/t Gold, 26.3 g/t Silver, 1.0% Zinc and 1.0% Lead.

On June 23, 2005 Apogee announced drill results from the first three holes of the six-hole program. Significant results from the first three holes included:

- Hole BV-B1 returned 1 meter of 17.8 g/t Gold, 90.8 g/t Silver, 11.5% Zinc, and 4.7% Lead and 3 meters of 3.5 g/t Gold, 18.9 g/t Silver, 2.0% zinc, and 1.0 % Lead.

- Hole BV-B3A intersected 4.0 meters of 4.0 g/t Gold, 41.7 g/t Silver, 1.3% zinc, and 2.7% Lead and 3 meters of 3.2 g/t Gold, 62 g/t Silver, 2.5% Zinc, and 4.1% Lead.

The mineralization intersected in Hole BV-B1 is 50 meters below channel samples across the zone on the San Pablo level that returned 3.8 meters of 42.0 g/t Gold, 61.3 g/t Silver, 8.7% Zinc and 6.0 % Lead.

Channel Sampling

Significant assays have been returned from the channel sampling done from underground on the San Pablo level, Buena Vista property (See attached Figure 1). A total of 51 channel samples have been taken with all the results included in Table 2 below. Some of the more significant assays include:

- 2.6 metres of 7.6 g/t Gold, 96.1 g/t Silver, 6.9% Zinc and 3.7 % Lead

- 3.8 metres of 18.6 g/t Gold, 114.2 g/t Silver, 7.7% Zinc and 4.0% Lead

- 2.2 metres of 4.1 g/t Gold, 193.5 g/t Silver, 8.4% Zinc and 8.4% Lead

- 1.8 metres of 7.4 g/t Gold, 96.5 g/t Silver, 9.5% Zinc and 4.0% Lead

- 2.8 metres of 23.4 g/t Gold, 201.2 g/t Silver, 8.8% Zinc and 8.2% Lead

- 3.8 metres of 42.7 g/t Gold, 223.3 g/t Silver, 9.6% Zinc and 7.1% Lead

Both the recent drill results and underground channel sampling have tested the vein system along strike for over 250 metres and to a vertical depth of 150 metres below surface. The zone remains open both along strike and at depth.

Apogee Vice-President Exploration Robert Campbell stated: "The results from the recent drilling and underground channel sampling have begun to outline a very significant high grade gold-silver-zinc-lead zone that remains open along strike and at depth. The vein system is very continuous and has good exploration potential for a significant resource. Therefore further drill testing is warranted to begin outlining a resource."

The Buena Vista property is located in southwestern Bolivia, approximately 600 km southeast of La Paz, within the San Antonio de Lipez District, Potosi Department, near the border with Argentina. The property is comprised of one 200 ha block.

Apogee's Phase 1 Exploration program at the Buena Vista consisted of detailed geological mapping, re-sampling existing trench and underground workings to verify previous results, new surface sampling and six holes totalling 1,200 metres of diamond drilling.

Mr. Robert Anderson Campbell, M.Sc., P.Geo., 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. A suite of 30 elements was analyzed using aqua regia digest and ICPAES analysis (ALS Analytical Code ME-MS41). Any samples exceeding threshold limits were re-analyzed using the most appropriate technique: silver, zinc and lead - agua regia digestion, AAS finish (ALS Analytical Code AA46), gold - 30g fire assay with AAS finish (ALS Analytical Code AA25). 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. The company has initiated a QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks.

Apogee Minerals Ltd. Is a Canadian exploration and development company listed on the TSX Venture Exchange under the symbol APE. The company has several advanced Silver-Zinc exploration properties in the historic Potosi Department of southwestern Bolivia and recently received regulatory approval for the acquisition of the Silver-Zinc-Lead producing La Solucion mine in northwestern Bolivia.

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 developments or results may vary materially from those in these "forward-looking statements".

This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/apogee . Alternatively, investors are asked to email all questions and correspondence to APE@agoracom.com where they can also request addition to the Apogee Minerals investor email list to receive all future press releases and updates directly.



Table 1: Significant Drill Results

---------------------
HOLE # North- East- Eleva-
BV-B1A ing ing tion
---------------------
Dip - 55
degrees 7595020 745570
---------------------------------------------------


Az. 200 g G Inter- T.
degrees From To Au/t Ag/t %Pb %Zn val Width
---------------------------------------------------
136.00 146.00 1.2 2.4 1.5 1.8 10.00 7.00
---------------------------------------------------
including 136.00 137.00 2.0 63.1 3.5 3.8 1.00 0.70
---------------------------------------------------
including 137.00 138.00 0.05 0.4 0.01 0.03 1.00 0.70
---------------------------------------------------
including 138.00 139.00 0.18 8.6 0.5 1.3 1.00 0.70
---------------------------------------------------
including 139.00 140.00 1.8 29.6 2.2 2.6 1.00 0.70
---------------------------------------------------
including 140.00 141.00 5.4 41.8 2.0 3.4 1.00 0.70
---------------------------------------------------
including 141.00 142.00 0.05 0.5 0.02 0.03 1.00 0.70
---------------------------------------------------
including 142.00 143.00 1.2 69.2 5.6 4.7 1.00 0.70
---------------------------------------------------
including 143.00 144.00 0.05 3.6 0.1 0.9 1.00 0.70
---------------------------------------------------
including 144.00 145.00 0.05 0.5 0.02 0.05 1.00 0.70
---------------------------------------------------
including 145.00 146.00 1.4 20.7 1.2 1.3 1.00 0.70
---------------------------------------------------

----------------------
HOLE # North- East- Eleva-
BV-B2 ing ing tion
---------------------
Dip - 45
degrees 7595055 745475
---------------------------------------------------

Az. 180
g g Inter- T.
degrees From To Au/t Ag/t %Pb %Zn val Width
---------------------------------------------------
107.00 108.00 1.1 3.5 0.3 0.7 1.00 0.70
---------------------------------------------------
116.00 117.00 0.8 7.7 1.2 2.9 1.00 0.70
---------------------------------------------------
145.00 146.00 0.6 0.9 0.04 0.02 1.00 0.70
---------------------------------------------------

---------------------------------------------------
HOLE # North- East- Eleva-
BV-B4 ing ing tion
---------------------
Dip - 45
degrees 7595090 745385
---------------------------------------------------


Az. 180 g g Inter- T.
degrees From To Au/t Ag/t %Pb %Zn val Width
---------------------------------------------------
103.00 104.00 0.7 6.4 0.2 0.3 1.00 0.7
---------------------------------------------------
106.00 107.00 0.4 31.8 1.1 1.4 1.00 0.7
121.00 122.00 0.8 4.3 0.1 0.04 1.00 0.7
122.00 123.00 0.8 25.9 1.0 2.0 1.00 0.7
123.00 124.00 3.5 26.3 1.0 1.0 1.00 0.7
149.00 150.00 1.2 5.8 0.2 0.7 1.00 0.7
169.00 170.00 0.6 4.6 0.2 0.5 1.00 0.7
---------------------------------------------------

Underground Channel Sample Results

Width
Sample # (metres) Au (g/t) Ag (g/t) Pb % Zn %
7542 1.25 0.13 8.8 0.02 0.07
7543 0.65 31.60 640.0 24.80 21.00
7544 1.05 0.05 3.4 0.13 0.84
Average 2.95 7.03 145.9 5.52 4.97

7545 0.90 0.20 2.1 0.05 0.88
7546 0.60 26.40 443.0 20.10 19.50
7547 1.15 4.96 40.5 0.99 2.49
Average 2.65 8.21 118.6 5.00 5.79

7549 1.20 1.67 50.4 1.56 2.91
7550 0.35 38.20 453.0 20.40 29.80
7551 1.10 4.33 32.5 0.72 4.02
Average 2.65 7.60 96.1 3.70 6.92

7552 0.30 0.95 10.9 0.60 4.02
7553 0.35 15.85 399.0 20.80 29.70
7554 0.85 0.51 15.7 0.32 1.90
Average 1.70 3.68 91.9 4.55 7.77

7555 0.70 1.08 3.9 1.24 1.23
7556 0.65 66.80 577.0 21.70 25.70
7557 1.45 14.70 128.0 5.57 4.97
Average 2.80 23.39 201.2 8.23 8.85

greater
than
7559 0.20 13.30 433.0 23.10 30.00

7367 2.90 1.28 35.8 1.19 3.31

7561 1.39 0.25 1.0 0.01 0.05

7563 0.30 60.40 465.0 19.30 30.00
7564 0.55 10.05 2.8 2.22 6.80
Average 0.85 27.82 166.0 8.24 15.00

7565 0.90 0.87 43.3 2.22 0.54
7566 0.35 65.20 389.0 15.55 24.40
7567 0.50 20.60 206.0 7.96 7.73
Average 1.75 19.37 158.9 6.52 7.37

7568 1.15 0.28 3.3 0.04 0.49
7569 0.30 33.10 528.0 7.64 25.60
Average 1.45 7.07 111.9 1.61 5.69

7365 3.60 27.40 171.0 6.40 8.74
7356 0.30 212.00 776.0 12.76 17.00
Average 3.80 42.69 223.3 7.07 9.62

7358 1.30 0.97 6.8 0.13 1.71
7359 0.80 82.60 401.0 14.00 30.00
7360 1.70 2.02 61.3 2.19 1.75
Average 3.80 18.63 114.2 3.97 7.68

7548 2.03 1.42 34.1 1.23 4.12

7571 0.30 16.70 583.0 18.20 24.80
7572 1.10 0.41 22.1 0.39 0.90
Average 1.40 3.90 142.3 4.20 6.02

7573 1.20 1.88 32.4 1.18 4.48
7574 0.40 17.55 454.0 20.10 30.00
Average 1.60 5.80 137.8 5.91 10.86

7582 0.65 0.24 18.6 0.66 0.55
7583 0.70 12.50 592.0 26.00 24.40
7584 0.90 0.33 9.8 0.28 1.56
Average 2.25 4.06 193.5 8.39 8.37

7575 1.60 1.80 221.0 2.98 3.48

7586 1.80 7.42 96.5 4.01 9.47

7576 0.85 0.37 20.1 1.13 1.40
7577 0.45 4.88 37.8 0.40 2.45
7578 0.70 0.57 10.5 0.28 0.39
Average 2.00 1.45 20.7 0.67 1.28

7300 2.00 0.05 0.6 0.27 0.06
7301 2.00 0.14 2.2 0.48 0.06
7302 2.00 0.05 1.0 0.24 0.11
7303 2.00 0.98 25.9 3.59 7.30
7304 2.40 2.00 98.7 3.43 1.89
7305 2.90 0.42 8.5 1.38 0.38
7306 0.35 12.95 675.0 22.30 25.40
7307 0.90 0.30 3.0 11.10 0.75
7303 to
7306 7.65 1.63 71.8 3.56 3.81


NOTE: A figure is available on CCNMatthews' website at: http://www2.ccnmatthews.com/database/fax/2000/ape0825a.doc

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

Contact Information

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