Silver Bear Announces AGM Results

TORONTO, ONTARIO--(Marketwired - Jul 30, 2014) - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased to announce that shareholders voted in favour of all items of business brought before them at the Company's Annual and Special General Meeting of Shareholders (the "AGM") held in Toronto, Ontario on July 10, 2014. In accordance with the policies of the Toronto Stock Exchange, all of the nominees listed in the management proxy circular dated June 12, 2014 for the AGM were elected as directors of the Company.

Robin Birchall, Executive Chairman of the Company said, "I would like to thank the whole Silver Bear team in Toronto and Yakutia, for their hard work this year. While it has been a difficult year, we have achieved a major milestone by obtaining shareholder approval to complete the second tranche of our private placement financing and are excited to welcome Alexey Sotskov to the Board of Directors of the Company. The Company hopes to be able to provide an operational update in the near future upon completion of the second tranche of the financing."

Detailed results of the vote for the election of directors held at the AGM are set out below.

Shareholders approved the appointment of PricewaterhouseCoopers LLP, Licensed Public Accountants as the auditors of the Company for the 2014 fiscal year and authorized the Board of Directors to fix their remuneration and re-approved and confirmed the Company's Stock Option Plan and approved all unallocated options under the Stock Option Plan.

In addition, the disinterested shareholders approved the issuance of up to 41,005,882 common shares of the Company, which forms part of the second tranche of a previously announced private placement financing (See Press Releases Dated April 2, 2014 and May 21, 2014). The Company anticipates the closing of the second tranche of the private placement financing will occur on or before August 8, 2014.

A total of 70,815,466 common shares were voted in connection with the Meeting, representing approximately 59% of the issued and outstanding common shares of the Company. The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on SEDAR (www.sedar.com).

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 and the Vertikalny Deposit, over which Silver Bear has exclusive exploration/mining 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 120,075,300 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.

Cautionary Notes

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 uncertainties inherent to preliminary economic assessments, which are based on many assumptions that might not be realized, risks with respect to operating in Russia, downward fluctuations in silver prices, regulatory risks, including with respect to obtaining all required permits, corruption and other 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.

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