As part of the 2012 exploration program, a follow-up on a prospective area called Nizhny Endybal was planned. Approximately 2,500 meters of drilling have been completed this year in this area and roughly 1,000 meters more in 2011, the last two drill seasons on this prospect. Silver Bear has now received some of the early assay results with more pending laboratory completion. Highlights of early drill core assays include:
All above quoted drill core measurements are drill intersection lengths. See Table 1 for all current drill results.
Commenting on the early results,
Table 1 - Drill Assays
|Note: True Width is roughly 60% of Intercept Width.|
Nizhny Endybal, is located approximately 3 kilometres from the Vertikalny deposit (see figure 3). Interpretation of assay results from the drill-core is ongoing. The area remains open to the North East and to the South West. The mineralization is exposed in the cliff face and drilling has identified additional mineralization. Figures 1 and 2 identify the volume of mineralization (shapes in yellow) as interpreted to date.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/sbr0808fig1.pdf.
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/sbr0808fig2.pdf.
Silver Bear also completed an airborne geophysics study covering approximately 300 square kilometres. The results are currently being compiled and analyzed. The Company expects a final report from its Geophysics contractor within the next month.
Recently, the Company has received acceptance of its
resource calculation at its Vertikalny Resource by Russian Federal
authorities. This calculation was part of the Russian Prefeasibility
Study ("TEO") submitted in
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/sbr0808fig3.pdf.
Geological Sampling Procedures
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. Analysis for 2012
was completed by
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. The head office of
|65 Queen Street West|
|Suite 805, P.O. Box 71|
|Toronto, ON M5H 2M5|
For further details, please visit www.silverbearresources.com.
Dominique VaillancourtCompany Name: Silver Bear Resources Inc.Contact Title: Manager, Investor Relations Phone: (416) 309-4397 Other1: firstname.lastname@example.org Contact: Mark TrevisiolCompany Name: Silver Bear Resources Inc.Contact Title: President and Chief Executive Officer Phone: (416) 861-5893 Other1: www.silverbearresources.com