TORONTO, ONTARIO--(Marketwire - March 14, 2012) - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased to announce that it has entered into an agreement to complete a non-brokered private placement financing of 4,375,000 common shares of the Company (the "Common Shares") at an issue price of $0.80 for gross proceeds in the amount of $3,500,000 (the "Private Placement").

Tabac Ventures Limited ("Tabac"), a company affiliated with with Aterra Capital, an investment fund established by Alexey Mordashov, has agreed to acquire all of the Common Shares to be issued in connection with the Private Placement. Mark Trevisiol, President and CEO of Silver Bear stated, "We are very pleased to have Tabac as a Silver Bear shareholder, a company controlled by Alexey Mordashov. This placement helps secure some of the capital needs of the company for the upcoming exploration season, but more importantly, brings a strategic shareholder into Silver Bear."

The closing of the Private Placement is expected to occur on or before March 31, 2012 and remains subject to receipt of all necessary regulatory approvals, including final TSX approval. The Common Shares will be subject to a statutory hold period of four months and one day. Upon closing of the Private Placement, it is anticipated that a nominee of Tabac will be appointed to the Board of Directors of the Company.

The Company intends to use the net proceeds of the Private Placement to fund exploration activities and improve infrastructure at the Company's Mangazeisky property in Yakutia, Russia. The Company is currently in the process of developing an exploration program for this coming summer. Additionally, the Company is planning to spend up to $1.3 million on new equipment to be used for site infrastructure improvements.

As previously announced, the Company has delineated a silver mineral resource estimate compliant with National Instrument NI-43-101 on its Mangazeisky property. The resource contains an inferred silver resource of 30.6 million ounces, averaging 554 grams per tonne, and an indicated silver resource of 19 million ounces, averaging 514 grams per tonne. ( See Silver Bear news release dated March 28, 2011).

Last fall (September 28, 2011) the Company released a Preliminary Economic Analysis ("PEA"). Details of the study include operating costs in the range of $8 US to $9 US per ounce of silver on production of approximately 4.1 million ounces of silver per year. The PEA is preliminary in nature, includes inferred 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 estimates of the PEA will be realized.

Mark Trevisiol P.Eng, President and CEO of Silver Bear is a qualified person under National Instrument 43-101 and has reviewed and approved the scientific and technical information in this press release.

Forward-Looking Information

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.

The head office of Silver Bear Resources is located at:

65 Queen Street West
Suite 805, P.O. Box 71
Toronto, ON M5H 2M5

FOR FURTHER INFORMATION PLEASE CONTACT:
        Silver Bear Resources Inc.
        Dominique Vaillancourt
        Manager, Investor Relations
        416-309-4397
        dvaillancourt@silverbearresources.com
        www.silverbearresources.com
Source: Silver Bear Resources Inc.