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Market: TSX-V
Sector: General Mining
Epic: APE
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Web Site: APOGEE MINERALS LTD.
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APOGEE MINERALS LTD.

A Canadian producer of silver-zinc-lead and also carries outexploration and development activities. Apogee is focused onadvanced silver-zinc-lead projects in South America.
Friday, November 21, 2008

Apogee Minerals suspends silver-zinc-lead production in Bolivia due to high costs

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Apogee Minerals Ltd. said it has suspended production at its silver-zinc-lead mining operation La Solucion north of La Paz in Bolivia, as declining metal prices and lower grades at the mine combined with higher smelting costs and taxes relative to last year have rendered the operation sub economic under present conditions.

The company is in discussions with union officials and with Bolivian Ministry of Mines officials to review best alternatives for the future of the operation and will provide further information on conclusion of these discussions.

Apogee Minerals is listed on the TSX Venture Exchange under the symbol APE. Apogee is focused on advanced silver-zinc-lead projects in South America that demonstrate the potential to be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia.

The main focus of the company is on advancement of Pulacayo-Paca project in southwest Bolivia which is an option to joint venture  with Apex Silver Mines Ltd. The project occupies the property that includes the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production. The company's 100 percent-owned La Solucion Mine is located north of La Paz, Bolivia and has a 15 year production history.

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