TORONTO, May 20 /CNW/ - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) today has filed a revised Management's Discussion and Analysis ("MD&A") on SEDAR for the period ended December 31, 2009. The original MD&A was filed on March 16, 2010. In addition, Silver Bear has filed updated certificates as required under National Instrument 52-109 - Certification of Disclosure in Issuers Annual and Interim Filings ("NI 52-109").
The revised MD&A was completed in accordance with a continuous disclosure review conducted by the Ontario Securities Commission and does not reflect a material change in the financial position of Silver Bear but is rather intended to provide additional information to the market on Silver Bear's disclosure controls and procedures and to more properly address the requirements of NI 52-109.
Silver Bear Resources Inc.
The primary business of the Company is the evaluation, acquisition, exploration and development of precious metal properties. 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 plans to spend approximately $2.0 million to complete assessment and reconnaissance work at Mangazeisky in 2010, in addition to approximately $1.9 million in corporate general and administrative costs.
Silver Bear is currently evaluating strategic alternatives available to the Company in an effort to maximize shareholder returns. These may include: continued exploration/development of the Mangazeisky Project, joint venture of the Project, sale of the Project, or combination with another mineral-focused company.
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.
SOURCE SILVER BEAR RESOURCES INC.
For further information: For further information: please visit www.silverbearresources.com, or contact: Brian Penny, Chief Financial Officer, (416) 324-6002, email@example.com; Hannes Portmann, Director, Corporate Development and Investor Relations, (416) 324-6014, firstname.lastname@example.org