Silver Bear Expands Inferred Silver Resource by 13.5 Million Ounces of Silver

TORONTO - Silver Bear Resources Inc. has received a National Instrument 43-101 ("NI 43-101") compliant Inferred mineral resource estimate on its Nizhny Endybal prospect area. It is located roughly three kilometers from the current NI 43-101 resource area at Vertikalny on the Mangazeisky property. Silver Bear has delineated a new and additional Inferred resource of 13.5 million ounces of Silver at a grade of 133g/t Ag there. Now, the Company's total NI 43-101 compliant resources on its Mangazeisky property are 1.1 million tonnes containing 17.9 million ounces silver at 518 Ag/t of Indicated mineralization and 4.3 million tonnes containing 43.5 million ounces silver at 282 g/t Ag of Inferred mineralization. This represents a 44% increase in Inferred resources over previous resource statements.

Table 1 highlights the details of the new Inferred Resource at Nizhny Endybal at various cut off grades. Table 2 the total resource on the Mangazeisky property and Table 3 the final drill results from the summer drilling program.

Commenting on this latest achievement, Mark Trevisiol, President and CEO said, "We have only drilled about 5,500 meters on this prospect and have identified a substantial near surface resource, which is open along strike to the north and south (see figure 2). Also, we believe there is a high potential that most of the silver from this prospect can be mined using open pit methods. This new resource represents an addition to the resources used to calculate the project economics in our Preliminary Economic Assessment ("PEA") released last year in which the mine life was 8.4 years."

The PEA used a silver production rate of approximately 4 million ounces per year over a 8.4 year mine life.

A Quality Assurance/Quality Control program is part of the drilling program on the Mangazeisky deposits. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. Prior to 2011, analysis was carried out at Russian certified laboratories in Yakutsk and Aldan, Russia. Analysis for 2012 was completed by ALS Chemex in Chita, Russia.