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TORONTO — Silver Bear Sources Plc (“Silver Bear” or the “Firm”) (TSX: SBR) declares right now that its Mangazeisky Silver Challenge, positioned in Far East Russia, continues operations as deliberate and has not been affected by the sanctions introduced on February 22, 2022.
The Firm’s wholly-owned Russian subsidiary, AO Prognoz, employs roughly 240 individuals at website plus 50 consultants primarily in catering and development, and an extra 30 workers at its head workplaces in Yakutsk, some 5,000 km east of Moscow. All of its workers and consultants at website are Russian locals. The Firm has been working in Far East Russia since 2007, attaining first silver manufacturing in April 2018. The Firm has properly established procurement and logistics within the area the place it operates and has nearly accomplished its 2021-2022 ice street resupply season, with a full 12 months of provides readily available for each the operations and the improve of its processing line.
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The Firm refines its silver manufacturing in a Russian based mostly refinery in Krasnoyarsk positioned in Japanese Siberia. The whole manufacturing is then offered domestically.
The Firm will proceed to carefully monitor sanction developments.
About Silver Bear
Silver Bear (TSX: SBR) is targeted on the event of its wholly-owned Mangazeisky Silver Challenge, overlaying a licence space of roughly 570 km2 that features the high-grade Vertikalny deposit (amongst the highest- grade silver deposits on the planet), positioned 400 km north of Yakutsk within the Republic of Sakha inside the Russian Federation. As of April 2018, the Firm attained first silver manufacturing on account of commissioning actions and on 1 July 2019 the Firm achieved full business manufacturing. Different data referring to Silver Bear is obtainable on SEDAR at www.sedar.com in addition to on the Firm’s web site at www.silverbearresources.com.
Cautionary Notes
This launch and subsequent oral statements made by and on behalf of the Firm could comprise forward-looking statements, which mirror administration’s expectations. Wherever doable, phrases reminiscent of “intends”, “expects”, “scheduled”, “estimates”, “anticipates”, “believes” and comparable expressions or statements that sure actions, occasions or outcomes “could”, “may”, “would”, “would possibly” or “will” be taken, happen or be achieved, have been used to determine these forward-looking statements. Though the forward-looking statements contained on this launch mirror administration’s present beliefs based mostly upon data at the moment out there to administration and based mostly upon what administration believes to be cheap assumptions, the Firm can’t be sure that precise outcomes will probably be according to these forward-looking statements. A lot of components may trigger occasions and achievements to vary materially from the outcomes expressed or implied within the forward-looking statements. Such danger components embody, however will not be restricted, to the chance components recognized by the Firm in its steady disclosure filings filed once in a while on SEDAR. These components ought to be thought of fastidiously and potential traders shouldn’t place undue reliance on the forward-looking statements. Ahead-looking statements essentially contain vital identified and unknown dangers, assumptions and uncertainties which will trigger the Firm’s precise outcomes, occasions, prospects and alternatives to vary materially from these expressed or implied by such forward-looking statements. Though the Firm has tried to determine essential dangers and components that would trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements, there could also be different components and dangers that trigger actions, occasions or outcomes to not be as anticipated, estimated or meant. There could be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, potential traders shouldn’t place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this launch, and the Firm assumes no obligation to replace or revise them to mirror new occasions or circumstances, except in any other case required by legislation.
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20220223006147/en/
Contacts
Vadim Ilchuk
President and Chief Govt Officer
T: +7 985 866 8877
data@silverbearresources.com
Judith Webster
Investor Relations Supervisor & Company Secretary
T: +416 453 8818
jwebster@silverbearresources.com
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