Mr. Mark Trevisiol reports

MINING LICENSE ISSUED TO SILVER BEAR

Silver Bear Resources Inc. has made a major step forward in the development of the company's main project at its Mangazeisky property in Russia. The Russian State Subsoil Agency (Rosnedra), in co-operation with Yakutnedra (regional subsoil authority), has granted the company a mining licence for the company's Vertikalny deposit on its Mangazeisky property in Russia. The mining licence is valid for a period of 20 years.

The mining licence covers production from its Vertikalny deposit and provides for a minimum production rate of 180,000 tonnes of ore per year. Silver Bear believes this production target is reasonable and achievable. The attached table sets out the company's mineral resource estimate prepared in accordance with National Instrument 43-101 which shows a total ore tonnage of approximately 2.7 million tonnes of ore at the Vertikalny deposit. The preliminary economic assessment (PEA) released in September, 2011, had a production rate of approximately 340,000 tonnes of ore per year, well within the mining licence permission (see notes in relation to the PEA below).

"This is a significant milestone for Silver Bear," said chief executive officer Mark Trevisiol. "Silver Bear is amongst a very select group of foreign companies to have successfully negotiated the Russian licensing process. It is a tribute to the team in place in Russia and in Canada that we have achieved this result. This achievement now opens the way for the next phase in the project's development. Additionally, having the mining licence in hand increases Silver Bear's attraction to investors who have been closely following developments of the project. I would also like to acknowledge the support from both the Russian and Canadian governments and their active participation in helping Silver Bear throughout the licensing process. Few foreign companies have got this far in their efforts, so this is not only positive for Silver Bear but for all mining investment in Russia."

Further, the company has, through the summer of 2013, conducted exploration on its Mangaziesky property and plans to provide an update on its achievements in the coming weeks. CEO Mark Trevisiol commented, "We are very satisfied with our operational progress over this summer and look forward to updating the markets in due course."

SUMMARY OF MINERAL RESOURCE ESTIMATES PREPARED IN ACCORDANCE WITH NI 43-101

Prospect area               Indicated resource             Inferred resource

                Tonnes (M)  Ag (g/t)    Oz (M) Tonnes (M)  Ag (g/t)    Oz (M)

Vertikalny                                                                  
Central zone           1.1     518.0      17.9       1.1     649.0      23.8

Vertikalny North                                                            
West zone                                            0.5     379.0       6.6

Nizhny Endybal                                       3.2       133      13.5

Total                  1.1       518      17.9       4.9       282      43.9

Notes:

* The effective date of the Vertikalny mineral resource estimate is Sept. 28, 
  2011, and the effective date of the Nizhny Endybal mineral resource estimate 
  is Sept. 20, 2012. 

* Mineral resources that are not mineral reserves do not have demonstrated
  economic viability. Due to the uncertainty of measured, indicated or
  inferred mineral resources, these mineral resources may never be
  upgraded to proven and probable mineral reserves. 

* P. Gribble, FIMMM, CEng, of Tetra Tech Wardrop (formerly Wardrop Engineering), 
  is the independent qualified person who prepared the mineral resource estimates 
  disclosed in the table.

* Silver price used for the above mineral resource estimate is $22.50 per ounce,
  cut-off grade used for Vertikalny mineral resource estimate is 180 grams per tonne
  Ag, cut-off grade for Nizhny Endybal mineral resource estimate is 75 g/t Ag. 
  See technical report filed on SEDAR dated Feb. 15, 2013. 

Mark Trevisiol, PEng, president and chief executive officer of Silver Bear and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

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