Apogee Announces Management Changes and Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - Jun 2, 2014) - Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE) announces that it has received and accepted the resignation of Neil Ringdahl, Chief Executive Officer. Mr. Ringdahl is departing the Company in order to pursue new opportunities, however, he will continue to assist Apogee to ensure an orderly transition.

"On behalf of the Board of Directors, my colleagues at Apogee, and our shareholders, we want to thank Neil for the contributions he has made to Apogee over the years including the completion and delivery of the Pulacayo Project Feasibility Study.", said G. Scott Paterson, Chairman of Apogee.

The Company has appointed Jennifer Wagner, a corporate securities lawyer and current Corporate Secretary of the Company as Interim Chief Executive Officer effective today. Ms. Wagner has been working as legal consultant and Corporate Secretary to various publicly traded companies in the mining industry since 2008. Prior to 2008, Ms. Wagner practiced securities law at a large Toronto law firm. Ms. Wagner obtained her Bachelor of Laws from the University of Windsor and received a Bachelor of Arts from McGill University.

Ms. Wagner will utilize her knowledge of the Company to work with management to implement a turnaround plan for Apogee in the coming months. The restructuring plan involves the proposed share consolidation to be approved by shareholders at the Company's upcoming annual and special general meeting on June 17^th, 2014; the settlement of certain debts relating to accounts payable; and the reduction of current expenditures.

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, high grade silver-zinc-lead projects in South America. Currently its projects are located in the historic silver producing regions of southwest Bolivia and northern Chile.

Apogee's most advanced project is the 100% controlled Pulacayo Paca project in Bolivia for which a positive feasibility study has been completed. The Company also has additional properties in Chile.

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, projections and estimates with respect to management changes, proposed timeline regarding the Company's restructuring activities, the potential effect of the proposed management and corporate changes, the impact and anticipated timing of future developments with respect to the Company's properties and proposed financing activities, 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 ability to obtain financing and/or financial partners; and the impact of concerns relating to permitting, governmental and local community relations. 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". Estimates underlying the results of the feasibility study arise from engineering, geological and costing work of TWP Sudamerica, Mercator Geological Services, P&E Mining Consultants and the Company. See the technical report relating to the feasibility study for a description of all relevant estimates, assumptions and parameters. 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: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. 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.