Mr. Vadim Ilchuk reports

SILVER BEAR NOTES A CORRECTION IN THE 2023 MANAGEMENT INFORMATION CIRCULAR MAILED TO SHAREHOLDERS ON 23 NOVEMBER 2023

Silver Bear Resources PLC has noted a correction to the management information circular mailed to shareholders on Nov. 23, 2023, for the company's coming annual general and special meeting of shareholders to be held on Thursday, Dec. 28, 2023.

On page 3 of the circular under the notice to shareholders, the last paragraph of business item 7 -- Authority to Allot Shares, in the last paragraph of that section, namely, "To consider and approve certain amendments to the corporation's facilities agreement and payment of interest thereunder."

This line is an error. There are no business items in the circular or coming meeting that refer to the facilities agreement and this line should not be in the circular; please ignore.

About Silver Bear Resources PLC

Silver Bear is focused on the development of its wholly owned Mangazeisky silver project, covering a licence area of approximately 570 square kilometres that includes the high-grade Vertikalny deposit, located 400 kilometres north of Yakutsk in the Republic of Sakha within the Russian Federation. As of April, 2018, the company attained first silver production as a result of commissioning activities, and, on July 1, 2019, the company achieved full commercial production.

We seek Safe Harbor.