Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased
to announce early drill results from its 2012 drill program on its Mangazeisky
silver property located in Yakutia, Russia (the "Property"). As shown in Figure
3, the Property hosts more than 100 silver occurrences in a major
North-Northwest trending mineralized structure that stretches along a 35
kilometre corridor. Drilling has confirmed management's belief in the potential
to increase the current NI 43-101 compliant mineral resource estimate of 1.1
million tonnes containing 17.9 million ounces silver at 518 g/t Ag of
'Indicated' mineralization and 1.7 million tonnes containing 30.5 million ounces
silver at 562 g/t Ag of 'Inferred' mineralization, as set out in its technical
report dated September, 2011 (see Press Release, September 28, 2012).


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:




--  114 meters @ 97 g/t of Silver, hole End-25 
    --  Includes 37 meters of 200 g/t of Silver 
        --  The above 37 meters Includes 8 meters of 602 g/t of Silver 
--  12 meters @236 g/t of Silver, hole End-22 
    --  Includes 4 meters of 526 g/t of Silver 
--  10 meters @ 218 g/t of Silver, hole End-20 
    --  Includes 4 meters of 498 g/t of Silver 



All above quoted drill core measurements are drill intersection lengths. See
Table 1 for all current drill results. 


Commenting on the early results, Mark Trevisiol, President and CEO of Silver
Bear said, "We believe these results enhance our potential to expand our current
Silver resources and reinforces management's belief that there are potentially
numerous "satellite" deposits to augment our existing feed supply from our
defined Vertikalny resource area. This extra potential feed source is currently
outside of the Preliminary Economic Assessment ("PEA") released last year."


Table 1 - Drill Assays



----------------------------------------------------------------------------
                       Drill           Depth    Depth  (i)Intercept   Silver
Zone                   Hole         From (m)   To (m)     Width (m)      g/t
----------------------------------------------------------------------------
Nizhny Endybal         END-20             76      113            37      133
                       -----------------------------------------------------
                       incl.              76       79             3      195
                       -----------------------------------------------------
                       and incl.          78       79             1      506
                       -----------------------------------------------------
                       incl.              84       99            15      138
                       -----------------------------------------------------
                       incl.             103      113            10      218
                       -----------------------------------------------------
                       and incl.         112      113             1     1680
                       -----------------------------------------------------
                       END-21                                            nsv
                       -----------------------------------------------------
                       END-22            107      119            12      236
                       -----------------------------------------------------
                       incl.             107      111             4      526
                       -----------------------------------------------------
                       END-23            118      157            39       60
                       -----------------------------------------------------
                       incl.             118      119             1      742
                       -----------------------------------------------------
                       incl.             131      134             3       92
                       -----------------------------------------------------
                       incl.             139      143             4      151
                       -----------------------------------------------------
                       and incl.         142      143             1      292
                       -----------------------------------------------------
                       incl.             150      157             7       67
                       -----------------------------------------------------
                       END-24          124.5    137.5            13       77
                       -----------------------------------------------------
                       incl.           128.5    130.5             2      240
                       -----------------------------------------------------
                       and incl.       128.5    129.5             1      315
                       -----------------------------------------------------
                       incl.           136.5    137.5             1      134
                       -----------------------------------------------------
                       END-25             33      147           114       97
                       -----------------------------------------------------
                       incl.              33       50            20       93
                       -----------------------------------------------------
                       and incl.          33       36             3      251
                       -----------------------------------------------------
                       incl.              75       82             7      126
                       -----------------------------------------------------
                       incl.              92      129            37      200
                       -----------------------------------------------------
                       and incl.         121      129             8      602
                       -----------------------------------------------------
                       and incl          121      122             1     4425
                       -----------------------------------------------------
                       incl.             128      129             1      300
                       -----------------------------------------------------
                       incl.             142      149             7       75
                       -----------------------------------------------------
                       and incl.         148      149             1      289
                       -----------------------------------------------------
                       incl.             155      157             2       43
                       -----------------------------------------------------
                       incl.             163      165             2       41
                       -----------------------------------------------------
                       END-26             85       88             3       62
                       -----------------------------------------------------
                       incl.              87       88             1      136
                       -----------------------------------------------------
                       END-26            125      194            69       55
                       -----------------------------------------------------
                       incl.             138      157            19       64
                       -----------------------------------------------------
                       and incl.         143      144             1      310
                       -----------------------------------------------------
                       and incl.         155      156             1      261
                       -----------------------------------------------------
                       incl.             163      170             7       83
                       -----------------------------------------------------
                       incl.             178      194            16       73
                       -----------------------------------------------------
                       and incl.         189      190             1      228
                       -----------------------------------------------------
                       END-27              7       10             3       47
                       -----------------------------------------------------
                       END-27            138      168            30       80
                       -----------------------------------------------------
                       incl.             138      154            16       82
                       -----------------------------------------------------
                       and incl.         147      148             1      279
                       -----------------------------------------------------
                       incl.             158      168            10      103
                       -----------------------------------------------------
                       and incl.         164      166             2      194
                       -----------------------------------------------------
                       END-29             95     99.9           3.8       46
                       -----------------------------------------------------
                       incl.            97.7     98.8           1.1       96
                       -----------------------------------------------------
                       END-30             87       88             1      106
                       -----------------------------------------------------
                       END-30            115      120             5       41
                       -----------------------------------------------------
                       incl.             115      116             1       56
                       -----------------------------------------------------
                       incl.             119      120             1      141
----------------------------------------------------------------------------
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 December 2011 to Russian
authorities. This is a milestone for Silver Bear as it represents another step
towards receipt of a mining license for its Vertikalny resource. In parallel,
for the prospective areas outside of the Vertikalny resource, Silver Bear has
made application for an exploration license extension. Silver Bear expects
results on this extension by Q4. 


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 ALS Chemex in Chita, Russia.


Mr. P. Gribble, FIMMM C.Eng, of Tetra Tech (formerly Wardrop), is the
independent qualified person who prepared the mineral resource estimates
disclosed herein, and has reviewed the scientific and technical information
contained in this news release. Tetra Tech completed a NI 43-101 Technical
Report supporting the mineral resource estimate. Tetra Tech also completed the
preliminary economic assessment ("PEA") discussed in this news release, released
by Silver Bear September 28, 2011.


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


Forward-Looking Information

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 Silver Bear
Resources is located at:




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



For further details, please visit www.silverbearresources.com.

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