Silver Bear Resources Plc announced that it has now received a draft report from Wardell Armstrong (Moscow) that provides a review of the Company’s current mineral resources, as well as draft revised mine and processing plans, for its Vertikalny and Mangazeisky North deposits (“Draft WA Report”). Silver Bear had previously disclosed that it had engaged Wardell Armstrong (Moscow) to conduct this review of the mineral resources as well as revised mine and processing plans for these deposits. The Draft WA Report presents a potential material change to the current mineral resources at these deposits. Given the potential material changes to the mineral resource estimates for both Vertikalny and Mangazeisky North deposits and the scope of the project outlined in the Draft WA Report, the Company’s August 2017 NI 43-101 technical report containing the current resource update and accompanying Vertikalny feasibility study and Mangazeisky North pre-feasibility study, should no longer be relied upon and are withdrawn by the Company. Finalisation of the Draft WA Report is dependent on Wardell Armstrong conducting a site visit to the Company’s mining operations in Yakutsk, Russia. Owing to government-mandated COVID-19 restrictions, the site visit has been delayed for an indefinite period of time.