Apogee Silver Issues Final Payment to Golden Minerals for the Pulacayo-Paca Silver Project in Bolivia

Apogee Silver Limited (TSXV:APE) has issued the final payment to Golden Minerals Company to acquire all of the issued and outstanding shares of an indirectly held subsidiary of GMC, which holds a 100% interest in the Pulacayo-Paca Project located in Bolivia.

Pursuant to the Agreement, on July 27, 2012, the Company issued to GMC an additional 3,000,000 common shares of Apogee and has paid GMC a cash fee in the amount of $500,000, which concludes Apogee’s payment obligations under the Agreement.

Apogee Silver CEO Neil Ringdahl said:

Golden Minerals has been an excellent partner and we are pleased to have completed our final payment under the agreement. This transaction solidifies our commitment to the development and further exploration of the Pulacayo and Paca projects.

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