Silver Bear Resources Plc has appointed three new directors to its Board, Messrs. Nathan Hunt, and Nikolay Grigoriev and Dr. Alexey Kostin, with immediate effect. With the new appointments the Board now consists of six (6) directors of which four (4) are independent.

Mr. Hunt has served on the Board of Directors of the Canada Eurasia Russia Business Association (CERBA) since 1996 and was Chair of CERBA from 2009 to 2013. Mr. Hunt has over 25 years of international business experience involved in the import of food products from North America to Russia. Mr. Hunt was President of his own consulting firm Skylight Inc. and the Accredited Representative of the US Meat Export Federation in Russia.

Mr. Hunt graduated summa cum laude /Phi Beta Kappa from Yale University in 1988 with a degree in Russian and East European Studies. Mr. Grigoriev, a retired mining engineer has over 30 years of mining geological experience. Between 1973 to 1994, his career spanned from geologist to Chief Geologist through to Deputy General Director of the geological survey expedition in the Magadan Region of Far East Russia.

He has discovered a number of gold and silver deposits in the Magadan region that are currently under development. From 1994 to 2004, Mr. Grigoriev served as Deputy Director-Chief Geologist Omsukchan Gold Mining Company. From 2004 through 2021, he served as Deputy General Director, Kupol and General Director, Dvoinoy, Kinross's Russian subsidiaries.

Mr. Grigoriev graduated from Irkutsk state University, Russia in 1973 as geological engineer. Dr. Kostin, has over 30 years of mining geological experience, since 1980 to 2022 he worked at the Diamond and Precious Metal Geology Institute, Siberian Branch, Russian Academy of Sciences, Yakutsk, Russia; where from 2007 to present, he is Chief of the Laboratory of Geology and Mineralogy of Precious Metals. Dr. Kostin's PhD in Geo-Mineralogical Science is from Moscow State University.

He also earned a doctorate degree (D.Sc.) in Central Geological Research Institute for Nonferrous and Precious Metals (TsNIGRI), Moscow.