Silver Bear Resources Plc (the “Company” or “Silver Bear”) is listed on the Toronto Stock Exchange under the ticker symbol “SBR”. The primary business of the Company is the acquisition, exploration, evaluation and development of silver properties in the Russian Federation. The Company’s principal focus is its wholly-owned Mangazeisky exploration licence area of 570 sq. km, host to the Vertikalny silver mine development. The Project is located approximately 400 km north of Yakutsk in the Republic of Sakha (Yakutia), Russian Federation.
In September 2013, Silver Bear was granted a 20-year Mining Licence for the Vertikalny deposit. In September 2016, the Company was granted a seven-year extension to the term of its Exploration Licence, which now contains no minimum work requirements.
In August 2017, the Company updated its Vertikalny Feasibility Study and its Mangazeisky North Preliminary Economic Assessment all contained in one Technical Report (“Report”) filed on SEDAR on August 28, 2017. The results of this updated Report continue to confirm that the project has very positive financial outcomes for the Company. As of September 2017, the Project is significantly advanced with construction and development work well underway. In addition, as discussed in section 24 of the Report, the Mangazeisky North deposit offers an opportunity to further improve overall mine economics, increase the overall mine life and extend the useful life of the capital equipment on the Mangazeisky project.
As of August 2017, the Company’s NI 43-101 mineral reserve and resource estimates include a Reserve of 858 kt averaging 809 g/t Ag totaling 22.3 million ounces of silver, an Indicated resource of 1.0 Mt averaging 1,079 g/t Ag totaling 36.0 million ounces of silver and an additional Inferred resource of 1.5 Mt averaging 504 g/t Ag totaling 24.4 million ounces of silver.For more information on Silver Bear please visit our website at www.silverbearresources.com.