Silver Bear Resources Inc. ("Silver Bear" or the "Company")
(TSX:SBR) announces results of its 2012 airborne geophysics program
on its Mangazeisky property lease (see Figure 1). A significant
magnetic high anomaly was observed only 500 meters from the
company's Vertikalny Silver deposit (see Figure 2). This is in the
same area where historical mineralization of gold, silver and
copper has been identified (see Table 2).
In 2012, the Company conducted airborne geophysical surveys
covering an area of 310 square kilometres on the property.
Electromagnetic (EM) and Magnetic geophysical surveys were flown by
helicopter along east-west lines, at a nominal line spacing of 100
metres (m), and at an average altitude of 15 m. Some results of the
Magnetic survey are shown in Figure 2, including a significant
magnetic high anomaly approximately 500 m east of the Vertikalny
Silver deposit. Past geological work has identified porphyritic
rock alterations in this area, specifically in rhyolite and
plagiogranite samples taken from trenching excavations. The high
magnetic response shown in Figure 2 supports these earlier
interpretations of the geologic features of the area. Silver Bear
has now termed this area of the property, the Porphyrovy
prospect.
Several trenches (Figure 4) on the Porphyrovy prospect have
revealed four quartz-carbonate-sulfide veins containing primarily
gold and silver mineralization. Copper is also present in the veins
with minor amounts of lead and zinc identified. Some of this
exploration work was done prior to Silver Bear's acquisition of the
property in 2004. Table 1 highlights some of the assay results from
the trench work. The trenching and assays were performed between
1990 and 2006 mostly by Yangeologia - a regional government
geological institution. Sampling was performed according to Russian
sampling procedures. (As noted below in Table 1, these findings are
considered to be historical information, see cautionary note
herein).
"This is a significant step in our understanding and development
of the property," said Mark Trevisiol, President and CEO of Silver
Bear. "The abundance of surface gold- bearing veins containing
silver and copper, the trench samples and this new geophysical data
all reinforce our geological model that silver and gold
mineralization were part of an epithermal geological system." He
added: "We believe these latest results have the potential to
greatly enhance the value of our property and will help us in
defining our plans for 2013, exploring this gold mineralization
right next door to our Silver deposit."
The Company's NI 43-101 compliant mineral resource estimates on
its Mangazeisky property include 1.1 million tonnes of ore,
containing 17.9 million ounces of silver at 518 g/t Ag, of
Indicated resources; and 4.3 million tonnes of ore, containing 43.5
million ounces of silver at 282 g/t Ag, of Inferred resources (see
Table 2).
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/silfig1.pdf
Note: Assays results in Figure 1 (beyond those listed in our NI
43-101 mineral resource estimate and current drilling or sampling),
were collected in accordance with official Federal Russian Subsoil
sampling standards, are considered to be historical in nature (and
outside the current NI 43-101 sampling protocol.)
To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/silfig2.pdf
Figure 3 shows a satellite photo and the proximity of the
Porphyrovy prospect to the Vertikalny Silver deposit.
To view Figure 3, please visit the following link:
http://media3.marketwire.com/docs/silfig3.pdf
Eight trenches have identified four quartz-carbonate veins on
the surface with gold-silver-copper mineralization (P1 -P4) that
are highlighted in Figure 4. The veins have strike lengths of
approximately 600 to 800 m. Details of the trench data are
illustrated in Table 1.
To view Figure 4, please visit the following link:
http://media3.marketwire.com/docs/silfig4.pdf
To view Table 1, please visit the following link:
http://media3.marketwire.com/docs/silt1.pdf
To view Detail Trench data, please visit the following link:
http://media3.marketwire.com/docs/silfig5.pdf
To view Table 2, please visit the following link:
http://media3.marketwire.com/docs/silt2.pdf
Mr. P. Gribble, FIMMM C.Eng, formerly Sr. Geologist of Tetra
Tech WE Inc., is the independent qualified person who prepared the
mineral resource estimates disclosed above in Table 2.
Nick Vessenine (PhD. Mining, Moscow State University) has
reviewed the technical information in this press release.
Mark Trevisiol P.Eng, President and CEO of Silver Bear and a
qualified person under National Instrument 43-101 and has reviewed
and approved the content of this press release.
CAUTIONARY NOTES
Historical Data
Note that the detail trench data (Table 1 plus Trench sections)
is historical in nature and was not prepared in accordance with CIM
and NI 43-101 standards and should not be relied upon. A qualified
person under NI 43-101 has not done sufficient work to verify and
classify the historical data in accordance with NI 43-101 and CIM
standards.
Forward-Looking Information
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 the
uncertainties inherent to using historical exploration information
collected in accordance with Russian standards, the risks inherent
to conducting business in Russia and 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
Contacts: Silver Bear Resources Inc. Mark Trevisiol President
and Chief Executive Officer 65 Queen Street West, Suite 825
Toronto, Ontario, M5H 2M5 www.silverbearresources.com
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