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TSX: SBR April, 2012 A WORLD CLASS SILVER PROJECT.

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Presentation on theme: "TSX: SBR April, 2012 A WORLD CLASS SILVER PROJECT."— Presentation transcript:

1 TSX: SBR April, 2012 A WORLD CLASS SILVER PROJECT

2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This presentation 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. 2

3 A WORLD CLASS SILVER PROJECT AMONG HIGHEST SILVER GRADES IN WORLD NI Resource Inferred 30 M oz (950 tonnes) 554 g/tonne Ag Indicated 18 M oz (560 tonnes) 514 g/tonne Ag Project Summary 3 Russian P1 + P2 Resource P1 + P2 = 16, g/t (900 Mill oz)

4 Major World Wide Silver Properties Project Name Location Ag (g/t) M. Cap.($) Goltsovoye (P.Metal)Russia 878 Platosa (Excellon)Mexico M Prognoz (Severstol)Russia 681 Mangazeisky (S.Bear) Russia M Juanicipio (Mag Silver) Mexico M Dukat (P. Metal)Russia 480 Escobal (Tahoe Res)Guatemala B El Quevar (Goldn Minerals) Argentina M Berenguela (Silver Std Res) Peru 126 Navidad (PanAm Silver)Argentina 117 Note: Not all grades reported are comparable to Reserves, Resources and geologic averages. Some maybe weighted. Source: Publicly available company reports or Metals Economics Group, grades based on resources where applicable. 4

5 Capitalization 5 TSX :SBR Shares Outstanding Basic48,560,569 Options3,744,333 Management, Directors, and Founders16,591,92834 % Alfa Group 7,400,00015 % Tabac Ventures (Alexy Mordashov) 4,375,000 9% Market Capitalization ( 04/16/2012-$0.56)C$ 27M Cash and Equivalents (09/30/2011)C$ 8.2M

6 Board of Directors 6 Randall Oliphant Chairman Silver Bear Resources, Chairman New Gold Former CEO Barrick Gold Mark Trevisiol President and CEO Silver Bear Resources Stan Bharti Chairman and CEO Forbes & Manhattan Trevor Eyton Former Member of Senate of Canada Former Board of Director of Falconbridge Ltd Dominic Gualtieri Former Managing Director, Head of Equities, Alfa Bank Andrey Tseshinskiy Director of A1 Investment Group Christopher Westdal Former Canadian Ambassador to Russia ( ) Bill Biggar President and CEO North American Palladium Special Advisor to the Board “Larry King” of Larry King Live talk show

7 RUSSIAN RELATIONSHIPS Alfa Group - 2 nd largest industrial conglomerate in Russia Tabac Ventures - Alexy Mordashov, prominent Russian businessman Yakutian Government President of Yakutia – Visit Forbes offices SBR discussions with Yakutian Economic Development Committee 7

8 Scoping Study Details (Wardrop Engineering) Base CaseAlternate (Hydro) Initial Capital$111 M$129 M Sust Capital$19 M$19 M Cost $9.34/Ag oz$7.90 /Ag oz Production 4.1 M oz/yr4.1 M oz/yr NPV (8% & $22.74/oz) $122 M$136 M IRR ($22.74/oz) 25.7 %25.9 % NPV (8% & $30/oz) $264 M$278 M IRR ($30/oz) 42.2 % 41 % NPV (8% & $40/oz) $461 M$475 M IRR ($40/oz) 61%59% 8

9 Trench K g/t Ag over 3.0m Grab sample g/t Ag Trench K g/t Ag over 0.5m Nizhny Endybal Channel sample g/t Ag over 14.0m Drill-hole END g/t Ag over 8.0m Drill-hole END g/t Ag over 64.6m Trench K g/t Ag over 1.94m 15km 35km Mineralized Structural Corridor Moscow Mangazeisky Licence Russia Vertikalny NI Resource g/t Ag indicated g/t Ag inferred Mangazeisky Property - Russia 9

10 Mangazeisky Yakutsk 400 km 10 Prognoz Where We Are

11 What We’ve Done – 2011 May: part of the Forbes & Manhattan Group of managed companies  $5 million private placement of common shares  Senior Management changed (CEO+CFO)  Strategy - Drive value by exploration Jun: Exploration program initiated–9,100 m drilled Sep: Completed Scoping Study Dec :  Received exploration license extension to Dec 2012  Submitted Russian “TEO” – Step 1 towards Mining License 11

12 WORLD CLASS SILVER PROJECT 2011 Exploration Summary Approx 70% of holes completed to target hit mineralization Central Zone – Depth South East - Extension Drilled two regional targets Completed ~9100 m in 2011 Strike 5km Central Zone 570 Square km Lease 35 km x 16 km N.W. Zone S.E. Zone Drill at site, 2011 Surface Area of Vertikalny Resource 12

13 Section View Through Vertikalny Resource Surface New Drill Intersections 13

14 14 Cross Section of Vertikalny Ore Body Central Zone Ore Body

15 Trench K g/t Ag over 0.5m Nizhny Endybal 2011 Drilling 5 of 6 holes drilled in 2011 hit mineralization – assays are pending Past Sampling Channel sample g/t Ag over 14.0m Drill-hole END g/t Ag over 8.0m Drill-hole END g/t Ag over 64.6m 15km 35km Mineralized Structural Corridor Russia Vertikalny NI Resource g/t Ag indicated g/t Ag inferred Mangazeisky Property - Russia Vertikalny 2011 Drill Highlights 1,090 g Ag/t over 1.0m in Hole V g Ag/t over 3.4m including 589 g Ag/t over 1.4m New mineralization intersections +150m below resource 15

16 16 Excavated Sample from surface trench - Native Silver shown (wire texture) up to 10,000 g/t Ag

17 1000m V Nizhny- Endybal Apophysis V11-162C V11-177, 182 & 189 Borisovskiy Privet 2011 & 2012 Season Fieldwork Locations 17 Drilling Locations Porphory

18 Nizhny Endybal Analysis Fault plane contours 100m 600m 700m 800m 900m River Section line ? ? Fault zone outcrop & sub-outcrop e.g. at grade 250g/t =6.5Moz Ag Mountain Section Area of highest mineralisation potential - minimum 800,000T ore Plan View Why is Nizhny Endybal important? Potential Open Pit feed Minimal Capital Cost Can supplement early ore production from Vertikalny (Satellite Deposit) or potentially be first feed Extend Mine Life 2 to 3 years and increase project NPV and IRR Supports Regional Story = ``Elephant Country`` for Ag 18

19 19 SECTION THROUGH VERTIKALNY MINING METHOD

20 Silver Bear Path Forward (2012) Mining License ($500,000) –Russian Feasibility (TEO) submitted –Apply for Certificate of Discovery –Apply for Mining License target Q4 ‘12 Move to Feasibility ($500,000) –Robust Economics from Scoping Study Exclusive of 2011’s drilling –Expect 18 to 24 months of construction after permitting and feasibility complete Site Works for 2012 –Exploration ($8 M to $12M) Drilling, Geophysics, trenching –Infrastructure (runway) + equipment ($2 M) 20 Drill Rig operating at site July’11

21 Silver Bear Path Forward (2012 ) Financing – In discussions currently with investors – Seeking $10-$15 million for 2012 activities 21 Drill Rig operating at site July’11

22 Key Activity Schedule ActivityNovDecJanFebMarAprMayJunJulAugSepOctNovDec License Extension Update Financing Purch Equip't Sign Drilling Cont Transport Equip + Drills Airborne Geophysics Drilling at Site Const of new runway Move Camp Feasibility Mining License Eng Receive Mining Lic Exploration Lic Order Equip't Update

23 Schedule to Full Production ActivityQ1Q2Q3Q4Q1Q2Q3Q4H1H2H1H2H1H2 License Extension Update Financing Mining License Drilling at Site Feasibility Russian Mining Feas Permits Construction Hiring&Training Oper Operational 23

24 WORLD CLASS SILVER PROJECT Summary - Value Drivers for Silver Bear 24 In Mining “HIGH GRADE RULES” both economics and operations ELEPHANT COUNTRY for Silver Acquisition/Merger/Strategic partner – all in play, opportunity for SBR to be the Silver miner of choice in Yakutia Market Silver prices very strong much uncertainty in currency markets Potential Silver prices will move higher

25 TSX: SBR April, 2012 A WORLD CLASS SILVER PROJECT


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