Value Microcaps Junior Miners

[gold80302]

GDMN
(COMTEX) B: Apogee Reaches Agreement to Acquire the Pulacayo Silver Deposi
t, Bolivia ( Marketwire )
B: Apogee Reaches Agreement to Acquire the Pulacayo Silver Deposit, Bolivia ( Ma
rketwire )

TORONTO, ONTARIO, Jan 26, 2010 (MARKETWIRE via COMTEX) --
Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:
APE) is pleased to announce that it has entered into a non-binding
term sheet (the "Term Sheet") with Golden Minerals Company ("GMC") to
acquire the Pulacayo Deposit held by GMC. The Pulacayo Deposit,
located in southern Bolivia is currently subject to a joint venture
agreement between the Company and GMC wherein the Company has the
right to acquire up to a 60% interest in the Pulacayo Deposit. Upon
completion of the proposed transaction, the Company will be able to
acquire a 100% interest in the property.

Pursuant to the Term Sheet, the Company shall acquire all of the
issued and outstanding shares of a Cayman based company that is a
wholly owned subsidiary of GMC, which indirectly holds a 100%
interest in the Pulacayo Deposit. In consideration, Apogee shall
issue 5,000,000 common shares of the Company (the "Common Shares")
upon closing of the transaction and shall issue an additional
3,000,000 Common Shares and shall pay GMC a cash fee in the amount of
$500,000 eighteen (18) months following closing of the transaction.
Completion of the acquisition is subject to negotiation and execution
of a definitive agreement, necessary board approvals and receipt of
all required regulatory and securities approvals, including the
approval of the TSX Venture Exchange, along with other customary
closing conditions.

David Gower, the C.E.O. of the Company noted, "Today's announcement
represents a major achievement for Apogee and provides an immediate
boost to the silver resource base owned by the Company. Having the
ability to acquire 100% of the asset is important in that it
simplifies the financing and development of the Pulacayo deposit as
it will now only require decisions by a single company. Golden
Minerals have been an excellent partner and we are pleased to have
their continued involvement as a major shareholder of Apogee. This
transaction solidifies our commitment to the development and further
exploration of the Pulacayo Deposit."

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 a 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 rapidly developed 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 potential
acquisition of the Pulacayo property, the timing with respect to the
completion of the proposed acquisition, the development of the
Pulacayo project, 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.

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 Minerals Ltd.
Ana Lopes
Investor Relations
(1) 416 861-2264
[e-mail]
www.apogeeminerals.com

SOURCE: Apogee Minerals Ltd.
mailto:[e-mail]
http://www.apogeeminerals.com
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