Silver Bear Announces Additional Results at Mangazeisky Project and Selection of Russian Engineering Consultant



    
    -   A total of 58 holes (9,374 metres) have been completed as of
        August 30, 2008, with assay results returned for 20 holes. Highlights
        from the eight most recent results received include:

        -  Hole V08-040 returned 3,342 grams per tonne of silver over a
           1.7 metre interval
        -  Hole V08-032 returned 3,050 grams per tonne of silver over a
           1.0 metre interval
        -  Hole V08-035 returned 515 grams per tonne silver over a 3.0 metre
           interval

    -   NBL Gold contracted to estimate Russian resources and reserves and
        complete TEO Conditions Study
    

    TORONTO, Sept. 8 /CNW/ - Silver Bear Resources Inc. ("Silver Bear" or the
"Company") (TSX:SBR) today announced further positive results from exploration
drilling at its 100% owned Mangazeisky silver project in Russia.
    The Mangazeisky project consists of an exploration license covering an
area of 570 km(2), hosting 16 known silver anomalies located within the
Republic of Sakha, Yakutia in the Russian Federation; approximately
400 kilometres north of the capital city Yakutsk in the Verhoyanskiy district.
Silver Bear has focused its exploration on the Vertikalny vein, a high grade,
sub vertical silver vein.
    Exploration during 2007 identified high grade (+1,000 grams per tonne)
silver mineralization at the Vertikalny vein. Drilling in 2008 is focusing on
the Vertikalny vein to identify an inferred mineral resource ranging from
100 to 150 million ounces of silver(1).
    The 2008 exploration drilling program commenced on May 26th, utilizing
two Canadian drill rigs contracted from Boart Longyear Russia. As at
August 30, 2008, the Company has completed 58 holes totaling 9,374 metres of
drilling at Vertikalny. The majority of the holes have intersected the
Vertikalny mineralized structure as planned, encountering favourable
mineralization over core intervals ranging from less than one metre to greater
than 11.0 metres.
    Since the August 14, 2008 news release, results have been returned for an
additional eight holes, with results still outstanding for 38 holes.
Significant results from the eight most recently assayed holes include:
    Hole V08-040 intersected 4.35 metres averaging 1,551 grams of silver per
tonne including 1.7 metres averaging 3,342 grams of silver per tonne.
    Hole V08-032 intersected 11.4 metres averaging 362 grams of silver per
tonne, including 1.0 metre averaging 3,050 grams of silver per tonne.
    Hole V08-035 intersected 3.0 metres averaging 515 grams of silver per
tonne.
    "Our exploration drilling continues to intersect high grade silver
throughout the Vertikalny vein system," noted Mr. Raymond Threlkeld, Chief
Operating Officer. "These latest results are consistent with the results of
our earlier drilling and the Vertikalny vein has demonstrated excellent
geometric continuity."
    Further, the Company is pleased to announce that Joint Stock Company
(JSC) Scientific Research and Design Centre of Precious Metals and Diamonds
NBL Gold (NBL Gold) have been contracted to complete a Russian resource and
reserve estimate for the project, including preparation of the Russian Tekniko
Ekonomicheskoe Obosnovaniye - Condicii (TEO - Conditions) Report.
    "NBL Gold is a leading Russian engineering group with extensive
experience in the estimation of resources and reserves for both Russian and
Western clients. They have completed several estimates in Russia for a number
of precious metal deposits and their experience and expertise provides us with
vital technical support as we continue to develop the Mangazeisky Project,"
noted Mr. Threlkeld. "We look forward to a long and successful technical
partnership with NBL Gold as we continue to develop Mangazeisky."
    The following table outlines the results received since our previous
August 14, 2008 release.

    
    -------------------------------------------------------------------------
    Hole ID      Profile      From        To    Length (m)       Silver (g/t)
    -------------------------------------------------------------------------
    V08-032        10600     123.6     135.0          11.4               362
     Incl                    124.6     125.6           1.0             3,050
    -------------------------------------------------------------------------
    V08-033         9900     105.4     110.7           5.3               120
    -------------------------------------------------------------------------
    V08-034        10600     255.5     256.2           0.7               236
    -------------------------------------------------------------------------
    V08-035        10650       3.0       6.0           3.0               515
                              25.7      26.7           1.0               338
                              27.3      28.0           0.7               105
    -------------------------------------------------------------------------
    V08-036        10650     133.4     134.1           0.7               457
                             140.0     140.9           0.9               237
    -------------------------------------------------------------------------
    V08-039        10100      23.0      24.0           1.0                28
    -------------------------------------------------------------------------
    V08-040
     Incl          10250     161.0    165.35          4.35             1,552
                             161.6     163.3           1.7             3,342
    -------------------------------------------------------------------------
    V08-043        10100     115.5     117.5           2.0               134
    -------------------------------------------------------------------------
    

    The results contained herein have been reviewed by Vivian Park, P.Geo.,
Silver Bear's Qualified Person managing the exploration program on the
Mangazeisky Project. Vivian Park is an employee of Silver Bear in the capacity
of Director of Exploration.

    Sample Collection and Preparation
    ---------------------------------
    Silver Bear's core sampling and preparation program is summarized as
follows:
    All core is 60.3 mm diameter. The core is placed in boxes at the drill
site, complete with distance markers. On arrival at the core logging facility,
the core boxes are opened and a geologist is responsible for organizing and
photographing the core, completing a geotechnical log, and preparing the core
for geological logging and sampling.
    The core is logged for lithology, structure and mineralization. Intervals
of interest are marked for sampling. Intervals deemed to be potentially
anomalous in silver are cut using a diamond saw with one half of the core
prepared as the sample and the other half retained in the core box and stored
at site.
    Samples are crushed to a nominal size of -1mm at an on-site preparation
facility. A 500 gram split is shipped to the laboratory for pulverization and
assay; a duplicate split is retained on site.
    All fire assays for silver are completed at the Chemical Laboratory of
the State Enterprise Aldangeologiya (Aldan Lab), located in Yakutia, Russia.
    Silver Bear's quality control protocol includes the blind submission of
certified standards (prepared by Geostats Pty Ltd of Australia), field blanks
and field duplicates into the sample stream to monitor the accuracy and
precision of the fire assay results.
    Geological control samples comprise 15% of the total sample volume. It is
standard practice that should the reported results exceed the permissible
variance limits ascribed to said standards that the affected batches are
re-analyzed. No such occurrences were noted in the results reported above.
    An updated drill plan and longitudinal section demonstrating the hole
locations is available on the Company's website at
www.silverbearresources.com.
    For additional technical information with respect to the Mangazeisky
Project, reference is made to the Company's technical report with respect to
the Mangazeisky Project available on SEDAR at 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 asset is its 100% owned Mangazeisky Project, 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 symbol "SBR".
Silver Bear has 37,935,569 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 web site at www.silverbearresources.com.

    Forward-Looking Information
    ---------------------------
    This release and subsequent oral statements made by and on behalf of the
Company may contain forward-looking statements, which reflect management's
expectations with respect to the proposed transaction. 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, 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. 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.

    
    (1) The reader is cautioned that the targets expressed above and
        elsewhere in this press release are based on Silver Bear's assessment
        of the geological data currently available and are conceptual in
        nature. There has been insufficient exploration with respect to these
        targets to define any estimates of quantities. There is no guarantee
        that the targeted estimates will be delineated through additional
        exploration. These are objectives set by the Company and they are not
        estimates of quantities as contemplated by section 2.3 of NI 43 101.
        There is no assurance that these objectives will materialize.
    





For further information:

For further information: please visit www.silverbearresources.com, or
contact: Raymond Threlkeld, Chief Operating Officer, (416) 324-6005,
rthrelkeld@silverbearresources.com; Brian Penny, Chief Financial Officer,
(416) 324-6002, bpenny@silverbearresources.com; Hannes Portmann, Director,
Corporate Development and Investor Relations, (416) 324-6014,
hportmann@silverbearresources.com

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SILVER BEAR RESOURCES INC.

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