Silver Standard Delivers Strong Operating Results

VANCOUVER, BC - Silver Standard Resources Inc. reported first quarter 2016 operational results for its Marigold and Pirquitas mines. Paul Benson, President and CEO said, "Once again we delivered strong operating results at both mines with slightly higher quarter-on-quarter production at Pirquitas and increased ore tonnes stacked at Marigold, setting up the mine for solid production in the second quarter.  The three haul trucks we purchased to expand the Marigold fleet entered service ahead of schedule, supporting our improved guidance and increased efficiency. With our announced acquisition of Claude Resources, combined with strong production at our existing assets, we continue to pursue our goal of creating value for shareholders through operating excellence and disciplined growth."

The Marigold mine produced 50,520 ounces of gold in the first quarter of 2016, as expected and on target to meet revised guidance. Quarterly gold production generally reflects the quantity of recoverable gold stacked on leach pads in the preceding months. First quarter gold production reflects lower fourth quarter 2015 recoverable gold ounces stacked as compared to the record recoverable gold ounces stacked in the third quarter of 2015. We recognized sales of 48,605 ounces of gold in the first quarter of 2016.

A total of 17.3 million tonnes was mined in the first quarter, slightly lower than the fourth quarter of 2015 due to moving more ore to the leach pads, our longest haul distance, and due to higher precipitation. Approximately 5.7 million tonnes of ore were delivered to the leach pads at a gold grade of 0.47 g/t, containing approximately 60,000 recoverable ounces of gold stacked during the quarter. The three haul trucks, purchased early in the first quarter, were commissioned ahead of schedule and began operating at the beginning of the second quarter. The strip ratio declined to 2.0:1 in the first quarter, a 31% reduction compared to the previous quarter, and ore tonnes reconciliation continued to be positive. Gold recovery was 70% in the first quarter of 2016, in line with the fourth quarter of 2015. The additional haul trucks, combined with the recoverable ounces of gold stacked during the quarter, will lead to increased production in the second quarter.

The Pirquitas mine produced 2.6 million ounces of silver during the first quarter of 2016, slightly higher than production in the fourth quarter of 2015, due to higher silver mill feed grade. The lower zinc production is in line with our previously stated strategy to maximize payable silver recovery. We recognized sales of 3.2 million ounces of silver, higher than the fourth quarter as concentrate shipments that were delayed in December 2015 were recognized in the first quarter of 2016.

Ore was milled at an average rate of 4,590 tonnes per day in the first quarter of 2016, a quarterly record for the mine since it began operating. Ore milled contained an average silver grade of 247 g/t, 4% higher than the 237 g/t reported in the fourth quarter, as the improvement in ore tonnes mined enabled higher grade tonnes to be milled selectively and lower grade tonnes to be stockpiled for processing at the end of the pit life.