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Silver Bear Resources Plc Board/Management Information 2022

Nov 21, 2022

47458_rns_2022-11-21_52cca042-fd6b-4a63-88f5-1660673f83e9.pdf

Board/Management Information

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Form 51-102F3 Material Change Report MATERIAL CHANGE REPORT UNDER SECTION 7.1 OF NATIONAL INSTRUMENT 51-102

Item 1.

Reporting Issuer

Silver Bear Resources Plc (the “ Company ”) The Pavilions, Bridgwater Road, Bristol, UK BS99 6AY

  • Item 2.

Date of Material Change

The material change took place on February 28, 2022

  • Item 3. Press Release

On February 28, 2022, a news release in respect of the material change described herein was disseminated via Business Wire.

  • Item 4.

Summary of Material Change

Effective February 28, 2022, Christopher Westdal resigned as a director of the Company.

  • Item 5.

Full Description of Material Change

On February 28, 2022, the Company announced that Christopher Westdal resigned as a director of the Company and as its Chair for personal reasons. Vadim Ilchuk, the Chief Executive Officer and director of Silver Bear replaced Westdal as Interim Chair.

  • Item 6.

Reliance on subsection 7.(2) or (3) of National Instrument 51-102

The report is not being filed on a confidential basis.

  • Item 7.

Omitted Information

No information has been omitted.

  • Item 8.

Executive Officer

For further information please contact: Mikhail Ilyin, CFO and Corporate Secretary [email protected]

  • Item 9.

Date of Report

November 21, 2022