Silver Bear Resources Plc — Regulatory Filings 2021

Nov 10, 2021

CERTIFICATES OF QUALIFIED PERSONS

Nikolai Shatkov, MAIG

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

• I am a Leading Geologist-Expert with RJC Group, with a business address at 153 Leninsky Pr., Saint Petersburg, Russia.

• 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 am a graduate of Leningrad State University, Department of Geology (1987) and PhD in Geology and Mineralogy at the A.P. Karpinsky Russian Institute of Geological Research (VSEGEI, 1997). I have practiced my profession continuously since July 1987. During my employment as a leading geologist I have frequently authored or reviewed for a variety of commodities, including precious metals with a particular focus on exploration, mineral resource evaluation, and project development.

• 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 am a registered member in good standing of the Australian Institute of Geoscientists (AIG) (# 6263.).

• I completed a personal inspection of the Property that is the subject of this Technical Report on 30[th] October 2021.

• I am responsible for Items 2.2.1, and 12.3 of the Technical Report.

• I am independent of Silver Bear Resources plc. as defined by Section 1.5 of the Instrument.

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

• 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) Nikolai Shatkov

Nikolai Shatkov PhD in Geology, MAIG