TORONTO, ONTARIO--(Marketwire - Dec. 5, 2011) - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (News - Market indicators) is pleased to announce the first drill results of its 2011 Diamond drilling program on the Mangazeisky Silver Property in Yakutia, Russia. As shown in Figure 1, the property hosts more than 100 silver occurrences in a major north-northwest trending mineralized structure that stretches along a 35 kilometre corridor. Drilling has confirmed management's belief in the potential to grow the current NI 43-101 compliant resource of 17.9 million ounces silver at 518 Ag/t of indicated mineralization and 30.5 million ounces silver at 562 Ag/t of inferred mineralization. The overall Mangazeisky property license covers 570 square kilometres. Figure 1 highlights that the area containing Silver Bear's NI 43-101 mineral resource estimate (Vertikalny) represents a very small land tenure in this total license area.

To view "Figure 1: Mangazeisky License Showing Vertikalny Resource and Historical Intercepts", please visit the following link: http://media3.marketwire.com/docs/sbr_fig1.pdf.

Highlights of the current drilling program include:

The 2011 Diamond drilling program is focussed on testing potential extensions of the mineral resources in the Central, Northwest, and Southeast zones within Vertikalny, as well as testing regional targets which are outside of the mineral resource area. Approximately 50 holes totalling 9100 metres have been completed. Early drill results and locations are shown in Table 1 and on Figure 2 and 3, respectively.

Silver Bear's Vice President of Exploration, Nick Fox, commented: "Drilling over the last few months has confirmed management's belief in the potential to grow our existing mineral resource; the intersections at depth in the Central zone have been especially rewarding. The new intercepts at Nizhny Endybal, linking previously isolated high grade silver occurrences into a coherent structural geometry hold great promise."

Mark Trevisiol, President & CEO of Silver Bear said: "Our Preliminary Economic Analysis (PEA) released in Q3 (See September 28, 2011 announcement) excludes any mineral resource potentially delineated by the 2011 drilling program. Management believes the 2011 drill program has the potential to increase mineral resources and add to Silver Bear's already strong economic story to build a mine and processing facility at site. Silver Bear expects further drilling results as well as an updated NI 43-101 compliant mineral resource estimate to be released in Q1, 2012."

To view "Figure 2: Location Plan of 2011 Exploration Drilling Activities", please visit the following link: http://media3.marketwire.com/docs/sbr_fig2.pdf.

To view "Figure 3: Longitudinal Section of Southern Portion of Central Zone, showing new drill Intersections extending NI 43-101 compliant mineral resource blocks below the February 2011 estimate", please visit the following link: http://media3.marketwire.com/docs/sbr_fig3.pdf.

Geological Sampling Procedures

A Quality Assurance/Quality Control program was part of the drilling program on the Mangazeisky deposits. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. Prior to 2011 analysis was carried out at Russian certified laboratories in Yakutsk and Aldan. Analysis for 2011 is being carried out by ALS Chemex in Chita, Russia.

Mr. P. Gribble, FIMMM C.Eng, of Tetra Tech (formerly Wardrop), is the independent qualified person who prepared the mineral resource estimates disclosed herein and has reviewed the scientific and technical information contained in this news release. Tetra Tech completed a NI 43-101 Technical Report supporting the mineral resource estimate. Tetra Tech also completed the preliminary economic assessment ("PEA") discussed in this news release.

Mark Trevisiol P.Eng, President and CEO of Silver Bear is the Company's designated qualified person under National Instrument 43-101 and has reviewed and approved the scientific and technical information in this press release.

Forward-Looking Information

The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

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. The head office of Silver Bear Resources is located at: