Silver Bear Announces Results of Its Annual General and Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwired - July 15, 2016) - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased to announce that shareholders have voted in favour of all items of business brought before them at the Company's Annual General and Special Meeting of shareholders (the "AGSM") held in Toronto, Ontario on July 15, 2016. All of the nominees listed in the management information circular (the "Circular") of the Company dated June 8, 2016 were elected as directors of the Company.

1. Election of Directors

Detailed results of the vote for the election of directors held at the AGSM are set out below:

2. Appointment of Auditors

The Company's shareholders approved the appointment of PricewaterhouseCoopers LLP as the auditors of the Company for the 2016 fiscal year and authorized the Board of Directors to fix their remuneration. Results of the vote are set out below:

3. Share Bonus Plan

The Company's shareholders approved and confirmed the amendments to the Company's share bonus plan, as more particularly described in the Circular. Results of the vote are set out below:

4. Non-Convertible Note Interest Payment Resolution

In accordance with the policies of the Toronto Stock Exchange, the disinterested shareholders of the Company ratified and approved the issuance of certain non-convertible promissory notes of the Company and the payment of interest thereon and confirmed and approved the payment of interest on certain non-convertible promissory notes previously issued by the Company, all as more particularly described in the Circular. Results of the vote are set out below:

About Silver Bear

Silver Bear (TSX:SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project, covering a licence area of approximately 570 km² that includes the high-grade Vertikalny deposit, located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. The Company was granted a 20-year mining licence for the Vertikalny deposit in September 2013 and completed a Feasibility Study in Q2 2016. The Company is implementing a fast-track execution plan to complete major construction of the Mangazeisky Silver Project by the end of 2016, with steady state production planned to start in Q1 2017. 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.

Cautionary Notes

This news release contains forward-looking statements and information within the meaning of applicable securities laws. Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes", "plans" 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 or information. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risk factors include but are not limited to risk 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 or information. These forward-looking statements and information 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.