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.
As of December 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 1.1 Mt averaging 1,016 g/t Ag totaling 36.6 million ounces of silver and an additional Inferred resource of 1.5 Mt averaging 499 g/t Ag totaling 24.0 million ounces of silver.
In April 2018, Silver Bear achieved first silver production as a result of its commissioning activities. As at December 31, 2018, the Company mined a total of 80,831 tonnes and milled 51,147 tonnes of ore at an average silver grade of 705 g/t Ag, for a total of approximately 594,921 ounces of silver contained in dry powder (before smelting losses and refinery adjustments). As at December 31, 2018, Silver Bear sold approximately 433,095 ounces of silver at an average realized price of US$14.78. The Company is currently working towards full commercial production.
For more information on Silver Bear please visit our website at www.silverbearresources.com.