Silver Bear Resources Inc. announces that the Russian State Subsoil Agency has granted the company a four year extension to the term of the exploration licence relating to Silver Bear's Mangazeisky Silver Property in Yakutia, Russia. Prior to the extension, the company was permitted to explore on the property until December 31, 2012. The extension provides that the new licence term will run to December 31, 2016, allowing the company to significantly extend its exploration activities on the property.

Concurrently, the company has also applied for a mining licence (production licence) on the Vertikalny portion of its territory and continues to discuss and consult with the Russian authorities on the best way to obtain mining rights for the largest possible mineral resource base. Geological assessments on the property conducted under Russian resource categories have indicated an historic mineral resource estimate of up to 975 million ounces of Silver in Russian P1 and P2 resources.