the company released the new resource estimate for san luis, and it is 31% larger than the earlier report from a year ago. they now estimate 486,000 gold-equivalent ounces. while this is not yet a large deposit, it is very high grade at 22.4 g/ton. the feasibility study should be done in the first half of 2009, and the company will increase its interest in the joint venture to 70%.

Silver Standard Resources Inc.: San Luis Gold Resources Increase by 31%

VANCOUVER, BRITISH COLUMBIA, Dec 2, 2008 (Marketwire via COMTEX News Network) -- Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) -

The San Luis Joint Venture is pleased to report a 31% increase in measured and indicated gold resources at the San Luis Project, with measured resources of 61,000 troy ounces of gold, indicated resources of 287,000 troy ounces of gold and inferred resources of 3,600 troy ounces of gold. This resource estimate was undertaken following a review of the prior resource estimate announced in November 2007.

The new mineral resource estimate, which was prepared by independent qualified persons Michael Lechner of Resource Modeling, Inc. and Donald Earnest of Resource Evaluations, Inc., incorporates all existing data, including additional sample results not included in the November 2007 mineral resource estimate, and uses a cut-off grade of 6 g/t gold-equivalent.

Mineral Resource Summary(i) - November 2008

                                           Sil-
                        Sil-        Gold   ver      Con-      Con-    Gold-
                 Gold   ver        Grade Grade   tained    tained    Equiv-
                Grade Grade          (oz/  (oz/    Gold    Silver    alent
Category  Tonnes (g/t) (g/t)   Tons  ton)  ton) (ounces)  (ounces) (ounces)

Measured  55,000 34.3 757.6  61,000 1.00  22.1   61,000 1,345,100   81,700

Indic-
 ated    429,000 20.8 555.0 473,000 0.61  16.2  287,000 7,658,200  404,800

Measured
 and
 Indic-
 ated    484,000 22.4 578.1 534,000 0.65  16.9  348,100 9,003,300  486,500

Inferred  20,000  5.6 270.1  22,000 0.16   7.9    3,600   174,900    6,300

(i) Gold-equivalent ounces assume a 65:1 Au:Ag ratio based on US$600/troy
    ounce gold and US$9.25/troy ounce, and silver and metallurgical
    recoveries and net smelter returns are assumed to be 100%. Contained
    metal may differ due to rounding.

Resources were estimated in a 1 meter by 3 meter by 5 meter block model using a dynamic isotropy search based upon distance from vein boundaries with a three pass inverse distance cubed algorithm and tabulated using a gold-equivalent cut-off grade of 6 g/t.

A feasibility study on placing the project into production has been initiated and is expected to be completed in the first half of 2009. An environmental impact study has also been initiated and is expected to be completed by the end of 2009. The Joint Venture is currently negotiating a long term land access agreement.