Silver Bear Announces Appointment of New Chief Financial Officer
June 11 2019 - 6:36AM
Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX:
SBR) is pleased to announce the appointment of Mr. Mikhail Ilyin as
Chief Financial Officer (“CFO”) effective June 10, 2019.
Mr. Ilyin first joined Silver Bear as a Group
Finance Controller on February 28, 2019. Mr. Ilyin has extensive
experience as a financial executive and senior audit consultant.
Mr. Ilyin joined the Company from United Cable Group where he was
Head of Finance Control. He also served for several years as a
Senior Audit Consultant for PricewaterhouseCoopers LLP (Moscow).
Mr. Ilyin holds a five-year Specialists degree in Finance and Legal
from the Moscow Humanitarian-Economic University in Moscow.
Mr. Ilyin will be responsible for overseeing Silver Bear’s
financial strategy, planning and analysis, accounting and financial
reporting and will report to Mr. Vadim Ilchuk, the Company’s
President and Chief Executive Officer (“CEO”).
Vadim Ilchuk, President and CEO, commented: “I
am delighted to welcome Mr. Ilyin on behalf of the board of
directors and the Silver Bear team. Mr. Ilyin brings a wealth of
experience to our finance team and I look forward to working
alongside him to achieve full commercial production in 2019 and to
further focus on our goal of cost and operational optimisation
throughout the upcoming year”.
“As announced in our first quarter report, to
help increase silver recovery the Company successfully installed an
additional Merrill Crowe process at the end of the processing
circuit. The commissioning of the Merrill Crowe process was
successfully completed in May, and at this time it has resulted in
a 10% increase in overall recoveries. As we progress through
the year, we hope that the Company will be in the position to
announce achieving full commercial production at the Mangazeisky
mine site later in 2019.”
About Silver Bear
Silver Bear (TSX: SBR) is focused on the
development of its wholly-owned Mangazeisky Silver Project,
covering a licence area of approximately 570 km2 that includes
the high-grade Vertikalny deposit (amongst the highest- grade
silver deposits in the world), located 400 km north of Yakutsk in
the Republic of Sakha within the Russian Federation. As of April
2018, the Company attained first silver production as a result of
commissioning activities, at this time the Company is working
toward achieving full commercial production in 2019. Other
information relating to Silver Bear is available on SEDAR at
www.sedar.com as well as on the Company’s website at
www.silverbearresources.com.
Cautionary Notes
This release 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, the Company 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 risk factors include, but are not
limited, to the risk factors identified by the Company 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 the Company’s actual results, events, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Although the Company 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 the Company assumes no obligation to update or revise
them to reflect new events or circumstances, unless otherwise
required by law.
CONTACT INFORMATION:
Vadim IlchukPresident and Chief Executive OfficerT: +7 985 866
8877info@silverbearresources.com |
Judith WebsterInvestor Relations Manager & Corporate
SecretaryT: +416 453
8818jwebster@silverbearresources.com |
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