Apogee Silver Announces 133% Increase in Indicated Silver Resources at Its Pulacayo Silver-Lead-Zinc Deposit

Apogee Silver Ltd. (TSXV:APE) reported the results of an independent resource estimate on the Pulacayo Deposit located in southwestern Bolivia (Figure 1), which includes 29.34 million ounces of silver in the Indicated category plus 26.24 million ounces of silver in the Inferred category.

As quoted in the press release:

his represents an increase of silver in the Indicated resource category of 133% or 16.77 million ounces and an increase of silver in the Inferred resource category of 38% or 7.21 million ounces from the mineral resource estimate which was undertaken as a part of the Preliminary Assessment of the Pulacayo Project and supported in the NI 43-101 Technical Report dated June 25, 2010.

Neil Ringdahl

The new resource estimate strongly demonstrates the additional blue-sky potential of this polymetallic deposit, and to this end we plan to continue our aggressive exploration and development efforts. We are particularly pleased with the significant increase in silver ounces in the Indicated category, upon which we are able to continue with the feasibility work for a mine that is now likely to be substantially larger than what has been previously projected in studies.

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