Silver Standard Increases Pirquitas Silver Reserves by 43%

VANCOUVER, BC - Silver Standard Resources Inc. reported that proven and probable silver reserves at Pirquitas in Argentina have increased by 43% to 195.1 million ounces. In addition, tin reserves have increased by 41% to 159.2 million lbs and zinc reserves by 32% to 548.5 million lbs. Based on the increased reserves, Pirquitas mine life has been extended to 14.5 years, an increase of 4.5 years from the November 2007 reserve update.
The reserve increase is indicative of the geologic potential of the Pirquitas system, and does not incorporate any deepening of the initial pit. The deposit remains open at depth. The almost 50% increase in mine life not only adds robustness to the project, but enables a greater window of opportunity for further exploration activities.
The updated reserve estimate incorporates drill data from an additional 74 reverse circulation drill holes totalling 16,850 meters of in-pit and pit wall drilling, uses metal prices of US$11.00/ounce silver, US$5.00/lb tin and US$1.05/lb zinc and is based on a new whittle pit using total operating costs of $22 net smelter returns.
The company's address is 999 West Hastings Street, Suite 1180, Vancouver, BC V6C 2W2, 604-689-3846, fax: 604-689-3847.