Silver Bear increases 2007 loss to$12.9 million from year-ago $9 million

TORONTO - Silver Bear Resources Inc. (TSX:SBR) said Monday its net loss for 2007 increased to $12.9 million from $9 million a year ago.

On a per-share basis, the loss amounted to 52 cents per share, compared to 50 cents per share the year before.

Exploration costs were $7.6 million in the year ended Dec. 31, up from $5.2 million.

Silver Bear evaluates, acquires, explores and develops silver and gold properties in Russia.

Its main asset is the Mangazeisky project, about 400 kilometres north of Yakutsk in the Republic of Sakha.

The company has not yet earned revenue and is considered to be in the exploration stage.

"2008 will be an exciting year for Silver Bear," stated chief operating officer Raymond Threlkeld.

"We are focused on defining a NI 43-101 compliant resource of 150 million ounces of silver at the Vertikalny Vein by the end of this year and demonstrate the potential for 200 million to 250 million ounces of silver over its 5.1 kilometre strike length."

On the TSX Monday, Silver Bear shares were untraded at $2.50.

// Mar. 10, 2008

Resource: Brandon Sun Online

INFO: Silver Bear Resources Inc. (Year End 2007 Financial Results) is a Canadian listed and domiciled exploration company currently engaged in the exploration of prospective silver and other precious metal properties in Russia.