Mr. Tim Fernback reeports

APOGEE MINERALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FINANCING

Apogee Minerals Ltd. has arranged a non-brokered private placement financing of up to 55 million units at a price of five cents per unit for gross proceeds of up to $2.75-million. The financing is now fully subscribed for and the company plans to close shortly.

Each unit will consist of one common share and one transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at 7.5 cents per share for four years from the date of issue.

The use of proceeds from the offering will be used for general working capital and exploration expenditures in Saskatchewan.

This financing is subject to regulatory approval, including the approval of the TSX Venture Exchange. The company may pay finders' fees in accordance with the policies of the TSX-V. All securities to be issued pursuant to the offering are subject to a four-month hold period under applicable Canadian securities laws.

About Apogee Minerals Ltd.

Apogee Minerals is a mineral exploration company. The company's goal is to build shareholder value through mineral project acquisitions and advancement, as well as new mineral discoveries.

We seek Safe Harbor.