Silver Bear announces presentation of financial results for the first quarter of 2022

TORONTO–(BUSINESS THREAD)–Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX: SBR) is pleased to announce, as of its press release dated July 8, 2022, that the Company has filed the its outstanding unaudited financial statements and management’s discussion. and analysis (“MD&A”) for the three-month period ended March 31, 2022 (“2022 First Quarter Report”) on July 28, 2022. For complete details of the first quarter report of 2022, see the company’s SEDAR filings (www.sedar.com) or the company website (www.silverbearresources.com).

Vadim Ilchuk, Chief Executive Officer of Silver Bear, says: “The company was pleased to be able to complete and file its Q1 2022 report and we now expect all financial reports from Q2 2022 onwards to be presented as planned. With the presentation of the Report for the first quarter of 2022 we will move forward with a request to revoke the commercial cessation order issued on April 6, 2022. The company continues to work on the evolution of the situation associated with sanctions imposed on the Russian Federation and the resulting effect they have had on the Company’s operations and will provide updates as the situation develops.”

About the silver bear

Silver Bear (TSX: SBR) is focused on the development of its wholly-owned Mangazeisky silver project, which covers a license area of ​​approximately 570 km2 that includes the high-grade Vertikalny deposit, located 400 km north of Yakutsk in the Sakha Republic within the Russian Federation. In April 2018, the Company achieved first silver production as a result of start-up activities and on July 1, 2019, the Company achieved full commercial production. More information related to Silver Bear is available on SEDAR at www.sedar.com as well as on the company’s website a www.silverbearresources.com.

Warning notes

Certain information about Silver Bear set forth in this press release, including the request for a revocation order and the filing of the company’s interim filings, may constitute forward-looking statements under applicable securities laws and necessarily imply material known and unknown risks and uncertainties. The forward-looking statements contained herein are made as of the date of this press release and Silver Bear undertakes no obligation to publicly update or revise any of the forward-looking statements included, whether as a result of new information, events futures or otherwise, except as required by applicable securities laws.

This release and subsequent oral statements made by and on behalf of the company may contain forward-looking statements, which reflect management’s expectations. Whenever possible, words such as “intends”, “expects”, “scheduled”, “estimates”, “anticipates”, “believes” and similar expressions or statements that certain actions, events or results “could”, “could” ,” “could” or “will” have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management’s current beliefs based on information currently available to management and based on what management believes to be reasonable assumptions, the company 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 These risk factors include, but are not limited to, the risk factors identified by the Company in its continuous disclosure documents taken ntates from time to time on SEDAR. These factors should be considered carefully and prospective investors should not place undue reliance on forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that could cause the Company’s actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors and risks that could cause actions, events or results to differ materially from those described in the forward-looking statements. results are not as expected, estimated or predicted. There can be no assurance that forward-looking statements are 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 the company undertakes no obligation to update or revise them to reflect new events or circumstances, except as otherwise required by law.



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