Apogee Silver Confirms Progress of Its Independent

Apogee Silver Confirms Progress of Its Independent Feasibility Study
and Files NI 43-101 Technical Report for Its Pulacayo Project Updated
Mineral Resource Estimate 
TORONTO, ONTARIO -- (Marketwire) -- 11/14/12 -- Apogee Silver Ltd.
("Apogee" or the "Company") (TSX VENTURE:APE) confirms that the
independent feasibility study currently being undertaken for the
development of its 100% controlled Pulacayo Silver-Lead-Zinc Deposit,
Potosi District, Quijjaro Province, Bolivia remains on track for
completion in 2012. The feasibility study was awarded to TWP
Sudamerica S.A. (See Press Release May 29, 2012). 
The Company further announces that it has filed the National
Instrument 43-101 compliant technical report entitled "Updated
Mineral Resource Technical Report for the Pulacayo Silver-Lead-Zinc
Deposit, Pulacayo Township, Potosi District, Quijjaro Province,
Bolivia" in support of the September 28th, 2012 news release, which
disclosed the results of the updated mineral resource estimate
representing a significant increase in resources from an earlier
mineral resource estimate dated October 19th, 2011, for the Pulacayo
Deposit located in southwestern Bolivia. 
The Technical Report is available at the companies profile on SEDAR
at www.sedar.com and on Apogee Silver Ltd's website at
www.apogeesilver.com, and forms the basis for the feasibility study
currently underway. 
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. 
Its most advanced project is the 100% controlled Pulacayo-Paca
project in Bolivia. This project includes the property that covered
the second-largest silver mine in the history of Bolivia with a
historical estimate of 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 anticipated timing of the feasibility study and the mineral
resource estimate, the potential effect of the metallurgical results,
the impact and anticipated timing of future metallurgical results,
potential effect of the toll milling and trial mining process and
impact upon the future development of the property, the potential of
the Cachinal property, the future financial or operating performance
of the Company, its subsidiaries and its projects, the development of
and the anticipated timing with respect to the Pulacayo-Paca project,
the anticipated timing with respect to completion of the diamond
drill program, the current drill program, anticipated timing with
respect to the trial mining program and statements regarding
exploration prospects.
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. 
On Behalf of the Board, 
Neil T. Ringdahl, Chief Executive Officer 
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 
Contacts:
Apogee Silver Ltd.
Marilia Bento
Vice President Corporate Development
+1 (416) 309-2694
info@apogeesilver.com 
Apogee Silver Ltd.
Neil T. Ringdahl
Chief Executive Officer
+1 (647) 339-4484
info@apogeesilver.com
www.apogeesilver.com