Silver Bear Resources Inc.
TSX : SBR

Silver Bear Resources Inc.

February 05, 2015 17:01 ET

Silver Bear Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - Feb. 5, 2015) - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased to provide the following update with respect to the developments of its silver properties located in the Russian Federation. In particular, the Company reports that positive steps have been taken in the latter half of 2014 to progress the transition of the Company. Building on the results from its previously announced preliminary economic assessment and the completion of its private placement financing which raised over $10,000,000 (See Press Releases dated February 7, 2014, May 21, 2014 and August 18, 2014), the Company has:

  • Successfully concluded the planned fieldwork program for 2014, including exploration drilling and trenching, geotechnical drilling, hydrogeological drilling, drilling of water and geothermal monitoring holes.
  • Made tangible progress toward development of the project through;
    • The appointment of Tetra Tech (UK), SRK (UK) and ERM (UK) to complete a NI 43-101 compliant Feasibility Study. Each of these consultants will utilize Russian and international subsidiaries to assist with the necessary work.
    • Completion of the Environmental and Social Impact Assessment, (ESIA), Scoping Study by ERM and holding the initial Public Hearing. These are the initial steps in developing the full ESIA as a part of the Feasibility Study.
    • The appointment of TOMS Engineering LLC in St. Petersburg to complete the "TEO Konditsy", the first part of the Russian feasibility study, and a key component of the Russian design and permitting process. TOMS have significant experience and bring an excellent combination of technical skills, understanding of the permitting requirements and an ability to work in conjunction with the UK based teams who are working, in parallel, on the NI 43-101 Feasibility Study.
    • The appointment of TOMS Engineering LLC metallurgical laboratory in Irkutsk to carry out the metallurgical testwork and process flowsheet development. This forms part of the Russian feasibility study, but incorporates additional testwork required to complete the NI 43-101 feasibility study.
  • Positive metallurgical test results that supports original PEA assumptions and confirmed high recovery. This includes confirmation of the applicability of direct electro winning following excellent performance of this technology using Electrometals' propriety EMEW equipment. This is a very important part of the process technology proposed to be used.

In addition, the Company announces that Mr. Boris Granovsky has been appointed to the Board of Directors of the Company, replacing Ms. Anastasia Gracheva. The Company would like to thank Ms. Gracheva for her continued support and wish her all the best in future endeavors.

Silver Bear Resources Inc.

The primary business of the Company is the evaluation, acquisition, exploration and development of silver properties in the Russian Federation. The Company's principal focus is the Mangazeisky exploration lease and the Vertikalny Deposit, over which Silver Bear has exclusive exploration/mining rights. It is located approximately 400 kilometres north of Yakutsk in the Republic of Sakha, Yakutia in the Russian Federation.

Silver Bear Resources Inc. is listed on the Toronto Stock Exchange and its common shares trade under the ticker symbol "SBR". Silver Bear has 161,089,517 issued and outstanding common shares. Other information relating to Silver Bear is available on SEDAR at www.sedar.com as well as on the Company's website at www.silverbearresources.com.

Cautionary Notes

The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements, which reflect management's expectations. Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Silver Bear cannot be certain that actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risks factors include but are not limited to risks factors identified by Silver Bear in its continuous disclosure filings filed from time to time on SEDAR. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause Silver Bear's actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although Silver Bear has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and Silver Bear assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.

For further details, please visit www.silverbearresources.com.

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