CIM Investment Management Limited provides updated information on interest in Apogee Minerals Ltd.

    TORONTO, Aug. 13 /CNW/ - CIM Investment Management Limited ("CIM")
reports that it currently has control over 8.56% of the outstanding common
shares ("Shares") of Apogee Minerals Ltd. ("Apogee").
    CIM has control over the Shares held by each of CIM Special Situations
Fund Limited ("CSSF") and CIM Discovery Fund Limited ("Discovery") (together,
the "Controlled Entities").
    On August 10, 2009, the 7,500,000 warrants (the "Warrants") of Apogee
that were held by CSSF and Discovery expired. Therefore, CIM presently has
control or direction over an aggregate of 7,523,500 Apogee Shares (CSSF holds
3,272,094 Shares and Discovery holds 4,251,406 Shares, representing
approximately 8.56% of the issued and outstanding Shares, based on a total of
87,913,056 Shares Apogee has issued and outstanding, as reported by the TSX
Venture Exchange website.
    The Shares held by the Controlled Entities are for investment purposes.
    The Controlled Entities may, from time to time acquire additional
securities of Apogee, dispose of some or all of the existing or additional
securities, or may continue to hold the current position.
    For more information, please contact Ashley Retter of CIM Investment
Management Limited.

    CIM Investment Management Limited is incorporated under the laws of
England which is authorized and regulated by the Financial Services Authority
(FSA Firm Reference Number 443440). CIM Investment Management is an asset
management company which manages, amongst others, Funds on behalf of the CIM
Special Situations Fund Limited and the CIM Discovery Fund Limited.

For further information:

For further information: Ashley Retter, CIM Investment Management
Limited, 1 Regent Street, London, SW1Y 4NS; CIM Special Situations Fund
Limited, P.O. Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin
Islands; CIM Discovery Fund Limited, P.O. Box 71, Craigmuir Chambers, Road
Town, Tortola, British Virgin Islands

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