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All material press releases may be found on SEDAR
| | December 12, 2008
Silver Bear CEO Increases Ownership
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| | Toronto, Canada, December 12, 2008 - Silver Bear Resources Inc. (the "Company") (TSX:SBR) announced that its President and Chief Executive Officer, Mr. Randall Oliphant, has acquired 500,000 common shares of the Corporation through the facilities of the Toronto Stock Exchange at an average price of $0.23 per share. As a result of this transaction, Mr. Oliphant has acquired beneficial ownership of an aggregate of 3,639,098 common shares of the Company representing, with his 416,666 currently vested options, an aggregate of 10.7% of the issued and outstanding shares of the Company.
Mr. Oliphant has acquired the securities of the Company for investment purposes and may increase or decrease his holdings in securities of the Company in the future.
An early warning report will be filed on SEDAR. A copy of that early warning report and further information can be obtained from Julie Taylor at 416 324-6015, or fax 416 324-9494.
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 website at www.silverbearresources.com.
For further details, please contact:
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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| | You can view the Next News Releases item: Tue Jan 20, 2009, Silver Bear Announces Additional High Grade Results from 2008 Drilling and Trenching Programs at Mangazeisky
You can view the Previous News Releases item: Mon Nov 10, 2008, Silver Bear Announces Additional High Grade Results from 2008 Drill Program at Mangazeisky, Third Quarter Financial Results
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