Silver Bear Resources Plc — Regulatory Filings 2021

Nov 10, 2021

CERTIFICATES OF QUALIFIED PERSONS

Sassoun Horsley-Kozadjian, CEng

As a Qualified Person of the Technical Report on the Mangazeisky Silver Project, Republic of Sakha (Yakutia), Russian Federation, I, Sassoun Horsley-Kozadjian, do hereby certify:

• At the time of writing this report I was a full-time employee of Wardell Armstrong and employed as a Principal Mining Engineer, based at Baldhu House, Wheal Jane, Truro, Cornwall, TR3 6EH, United Kingdom.

• This certificate applies to the technical report entitled “Technical Report Mangazeisky Silver Project MRE Update and Strategy Re-Assessment, Republic of Sakha (Yakutia), Russian Federation” dated 10[th] November 2021 (the “Technical Report”).

• I graduated with a Bachelor of Engineering (Hons) Degree in Mining Engineering from the University of Exeter, UK, in 2012 and thereafter graduated with a Masters of Science Degree in Applied Geotechnics from the University of Exeter, UK, in 2013. I have practiced my profession as a mining engineer continuously since 2013. During my career I have prepared numerous mining studies including mine design and scheduling on a range of commodities including precious metals.

• I am a registered member in good standing with the Institute of Materials, Minerals & Mining as a Professional Member and Chartered Engineering as elected by the Engineering Council.

• I have read the definition of “qualified person” set out in NI 43-101 (“the Instrument”) and certify that by reason of my education, affiliation with a professional association and past relevant work experience, I fulfil the requirements of a “qualified person” for the purposes of the Instrument.

• I have not personally inspected the property that is the subject of this Technical Report.

• I have no prior involvement with the property that is the subject of the Technical Report.

• I am responsible for Items 1.5, 1.7 through 1.10, 16 (except 16.2), 21.2, 21.3, 25.4, and 25.6 through 25.9 of the Technical Report.

• I am independent of the issuer as defined in section 1.5 of the Instrument.

• I am independent of Silver Bear Resources plc. as defined by Canadian NI 43-101 regulations and have provided consulting services to the companies.

• I have read the Instrument and Form 43-101F1, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

• As of the effective date of this certificate, to the best of my knowledge, information, and belief, the sections of Technical Report that I am responsible for contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 10[th] day of November 2021.

(Signed & Sealed) Sassoun Horsley-Kozadjian

Sassoun Horsley-Kozadjian BEng, MSc, CEng, MIMMM