posted in:

Four year licence extension issued to Silver Bear

Thursday, Jan 10, 2013

Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) today announces that the Russian State Subsoil Agency ("Rosnedra") 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.

"This is a significant milestone for Silver Bear," said CEO Mark Trevisiol. "This extension is an important achievement for the Company. It will allow us to maintain our focus on enlarging the mineral resource and prepare for production through continued exploration activities at the project site. The extension is also a testament to the active interest and support of both Russian and Canadian governments to promote license stability and encourage investment and cooperation in mining and natural resource development in Russia. This is a welcome message not only to Silver Bear, but to all mining investors in Russia."

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 (see Table 1 and note labelled "Historical Resources" in this announcement).

Source: Marketwire

posted in:

Other Metal News

Duluth Metals announces SEDAR filing of updated AMEC resource study on Twin Metals 15-04-2014
Comstock Mining provides update 11-04-2014
Sesa Sterlite Limited announces production release for the fourth quarter and full year ended 31 march 2014 11-04-2014
Goldcorp Holds Investor Day announces first quarter 2014 gold production 11-04-2014
Perseus Mining Limited provide Edikan Gold Mine update 11-04-2014
Rare Earth Metals market worth 192,000 tons by 2018 11-04-2014
Red Eagle Mining completes $5,000,000 financing 11-04-2014
Copper Mountain mine achieved record first quarter copper production 11-04-2014
IAMGOLD provides update on advanced exploration projects maiden resource estimate - Pitangui project, Brazil diamond drilling results - Boto Gold proj 11-04-2014
Sierra Mining Limited announces results of first court hearing 11-04-2014