Silver Bear Announces Close of Further Tranche of Private Placement Financing

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) announces
that it has closed a further tranche of its previously announced private
placement financing through the sale of 3,846,153 units (the "Units") to Aterra
Investments Limited ("Aterra") at a price of $0.13 per Unit for gross proceeds
of approximately $500,000 (See Press Releases Dated October 7 and October 17,
2013). Each Unit consists of one common share of the Company (a "Common Share")
and one common share purchase warrant (each whole warrant, a "Warrant"). Each
Warrant will entitle the holder thereof to acquire a Common Share at the
exercise price of $0.245 per share until October 21, 2015.


The Company intends to use the gross proceeds of the Offering to finance its
exploration program and Feasibility Study for the Mangazeisky Silver Project, to
repay debt and supplement general working capital. 


The Common Shares, the Warrants, and the shares issuable upon the exercise of
the Warrants, are subject to statutory resale restrictions for a period until
February 22, 2014. 


As a result of this purchase, Aterra holds an aggregate of 9,360,041 common
shares of Silver Bear, which represents approximately 13.4% of its issued and
outstanding common shares. 


Closing of a further tranche of the financing is expected to occur on or before
December 31, 2013 with respect to a further approximate $3.24 million that
remains subject to receipt of regulatory approval, including approval of the TSX
and shareholder approval, as applicable pursuant to sections 607(g)(ii),
607(g)(i) and 604(a)(i) of the TSX Company Manual.


Silver Bear Resources Inc.

The primary business of the Company is the evaluation, acquisition, exploration
and development of silver properties in the Russian Federation. The Company's
principal focus is the Mangazeisky exploration lease, over which Silver Bear has
exclusive exploration rights. It is located approximately 400 kilometres north
of Yakutsk in the Republic of Sakha, Yakutia in the Russian Federation.


Silver Bear Resources Inc. is listed on the Toronto Stock Exchange and its
common shares trade under the ticker symbol "SBR". Silver Bear has 70,163,410
issued and outstanding common shares. Other information relating to Silver Bear
is available on SEDAR at www.sedar.com as well as on the Company's website at
www.silverbearresources.com.


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 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. 


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "1933 Act"), or any state securities laws and may not be offered
or sold within the United States or to, or for the account or benefit of U.S.
persons (as defined in Regulation S under the 1933 Act) absent such registration
or an applicable exemption from such registration requirements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Silver Bear Resources Inc.
Mark Trevisiol
President and Chief Executive Officer
+1-416-861-5893
mtrevisiol@silverbearresources.com


Silver Bear Resources Inc.
Robin Birchall
Executive Chairman
UK +44 207 389 0907
www.silverbearresources.com
Silver Bear Resources (TSX:SBR)
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