The board of directors of Northern Bear announces that, Immediately prior to the AGM, Steve Roberts, Executive Chairman of Northern Bear, resigned from the board of directors of the Company. Accordingly, Resolution 2 in respect of Mr. Roberts re-election to the board of directors was not proposed at the AGM. Mr. Roberts will assume the position of Chairman Emeritus and continue to fulfil his existing day-to-day operational role as an employee of the Company. Jeff Baryshnik, currently a Non-Executive Director, has been appointed as Non-Executive Chairman of the Company with immediate effect. It is expected that two further Non-executive director appointments will be made to the Board in the near term, at which time it is expected that John Holroyd will step down from the Board.