TORONTO, ONTARIO--(Marketwire - Jan. 9, 2013) - Apogee Silver Ltd. ("Apogee" or the "Company") (News - Market indicators) announces the positive results of a community consultation meeting held in Pulacayo on December 14, 2012 in connection with the proposed development of the Pulacayo Project situated in the Potosi region of Bolivia (Figure 1) (the "Project"). The meeting was attended by over four hundred people, including representatives from a number of public, regional and local authorities, independent environmental consultants (MEDMIN S.A.), the Pulacayo Cooperative and Company representatives. Representatives from all 22 communities determined by MEDMIN S.A. to potentially be affected by the Project were in attendance and were provided with an opportunity to express their opinions. Apogee management was profoundly encouraged by the level of support expressed for the Project at the meeting. Management was further comforted by the fact that, in their view, none of the concerns expressed at the meeting are issues that cannot be reasonably addressed in due course.
This important milestone allows the Company to conclude its application for a new environmental permit from the Bolivian authorities for expanded production as well as the construction of a processing and tailings storage facility at Pulacayo. Apogee is already the holder of an environmental permit that authorises mining operations at a rate of 200tpd for the Project. The Company's current permit is limited to mineral processing elsewhere but not on site.
CEO Neil T. Ringdahl stated, "We are very pleased with the overwhelming level of support received for the Project from the local communities and the Ayllus or indigenous leadership, and believe this can be attributed to the strong relationships we have developed locally. We believe that, having built a bakery and basketball court in Pulacayo, having made contributions to a local library, and having had the Company's doctors consulting with and providing free medical assistance to families living in Pulacayo clearly demonstrates that community relations are fundamental to Apogee's overall strategy and ethos."
About Apogee Silver Ltd.
Apogee Silver Ltd. is a mineral exploration and development stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced silver-zinc-lead projects in South America that demonstrate potential to be developed to production. Currently its projects are located in the historic silver producing regions of southwest Bolivia and northern Chile. There are currently 301,066,809 common shares of Apogee issued and outstanding.
Apogee's most advanced project is the 100% controlled Pulacayo-Paca project in Bolivia. This project includes the property that covered what is understood by the Company to be the second-largest silver mine in the history of Bolivia with a historical estimate of over 600 million ounces of past production.
On Behalf of Apogee Silver Limited,
| Neil T. Ringdahl |
G. Scott Paterson |
| Chief Executive Officer |
Chairman |
Cautionary Notes:
Except for statements of historical fact contained herein, the information in this press release may be deemed to constitute "forward-looking information" within the meaning of Canadian and other applicable securities law. Such forward-looking information may include, without limitation, opinions and/or statements (express or implied) regarding the anticipated effects and/or impact of the Project, personal interpretations of events and/or the results of the community consultation relating to the Project, whether in relation to the Company's permits or otherwise. There can be no assurance that such statements (express or implied) will prove to be accurate, and actual results and future events could differ materially from such statements. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise. It should also be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/ape0109fig1.pdf.
