TORONTO, ONTARIO--(Marketwired - Oct. 8, 2015) - A.B. Aterra Resources Ltd. ("Aterra") announces that Silver Bear Resources Inc. ("Silver Bear") has issued to Aterra, in a private placement, a convertible promissory note (the "Promissory Note") in the principal amount of $2,310,000. The Promissory Note bears interest at 15% per annum and the principal and all accrued and unpaid interest are due at maturity on December 31, 2015. Silver Bear may not pay interest on, nor may Aterra convert, the Promissory Note until Silver Bear has received minority shareholder approval in respect of the Promissory Note under Toronto Stock Exchange rules and applicable securities laws. Upon such shareholder approval being obtained, Aterra will have the right to convert the outstanding principal amount of the Promissory Note and all accrued and unpaid interest into common shares of Silver Bear at a conversion price equal to $0.075 per share, subject to adjustment.

In addition to the Promissory Note, Aterra owns 40,468,579 common shares of Silver Bear (the "Owned Shares").

Assuming Aterra were to fully convert the $2,310,000 principal amount of the Promissory Note (but none of the interest thereon), and assuming no other new issuances of common shares by Silver Bear at or prior to such time, Aterra would acquire 30,800,000 common shares upon such conversion, representing approximately 16.0% of the then outstanding common shares. The shares acquired upon such conversion, together with the Owned Shares, would amount in aggregate to 71,268,579 shares, representing approximately 37.1% of the then outstanding common shares.

Aterra acquired the Promissory Note for investment purposes and continues to monitor the business, prospects, financial condition and potential capital requirements of Silver Bear. Depending on its evaluation of these and other factors, Aterra may from time to time in the future increase or decrease its ownership, control or direction over the shares or other securities of Silver Bear through market transactions, private agreements, subscriptions from treasury or otherwise.

For further information, including a copy of the corresponding report filed with Canadian securities regulators, contact the undersigned.

Contact Information:

Mr. Lambros Kyriakides
+357 2 500 1500

A.B. Aterra Resources Ltd
Themistokli Dervi, 3, Julia House
P.C.1066, Nicosia, Cyprus