Silver Bear Announces Closing of the Private Placement With Tabac Ventures Limited

TORONTO, ONTARIO -- (Marketwire) -- 03/19/12 -- Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX: SBR) is pleased to announce the closing of its previously announced private placement of 4,375,000 common shares ("Common Shares") of Silver Bear with Tabac Ventures Limited ("Tabac"). Tabac is a company affiliated with Aterra Capital, an investment fund established by Alexey Mordashov.

The 4,375,000 Common Shares were sold to Tabac at a price of $0.80 per share for gross proceeds to the Company of $3.5 million. The Common Shares will be subject to a statutory hold period of four months and one day.

The Company intends to use the net proceeds of the private placement to fund exploration activities and improve infrastructure at the Company's Mangazeisky property in Yakutia, Russia. The Company is currently in the process of developing an exploration program for this coming summer. Additionally, the Company is planning to spend up to $1.3 million on new equipment to be used for site infrastructure improvements.

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. 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:

65 Queen Street West
Suite 805, P.O. Box 71
Toronto, ON M5H 2M5

Contacts:

Silver Bear Resources Inc.

Dominique Vaillancourt

Manager, Investor Relations

416-309-4397
dvaillancourt@silverbearresources.com
www.silverbearresources.com