San Agustin's Resources Increase Silver Standard's Exposure to Silver and Gold

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San Agustin's Resources Increase Silver Standard's Exposure to Silver and Gold

posted on Apr 06, 2009 01:50AM

April 6, 2009

San Agustin's Resources Increase Silver Standard's Exposure to Silver and Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2009) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to confirm significant gold and silver resources at the San Agustin property in Durango, Mexico. The resource is comprised of indicated gold resources totaling 1.59 million ounces and silver resources of 47.9 million ounces; and inferred gold resources totaling 1.06 million ounces and silver resources of 37.0 million ounces.

The property is located 85 kilometers north of Durango City and approximately 100 kilometers south-southeast of Silver Standard's Pitarrilla Project in Durango, Mexico.

               San Agustin Resource Summary - April 2009(1)

------------------------------------------------------------------------
                                                         Contained(1)
                                                     -------------------
              Tonnes   Gold   Silver   Zinc   Lead       Gold     Silver
Category   (millions)  (g/t)    (g/t)    (%)    (%)  ('000 oz)  ('000 oz)
------------------------------------------------------------------------
Indicated      121.0   0.41     12.3   0.49   0.06      1,590     47,900
------------------------------------------------------------------------
Inferred        91.2   0.36     12.6   0.48   0.07      1,060     37,000
------------------------------------------------------------------------

(1) The cut-off grade is based on US$3.40 recovered metal values (RMV) in
oxide material and US$6.25 (RMV) in sulphide material and the following
metal prices and recoveries: gold (US$631.97/oz, 72%); silver (US$11.63,
74%); zinc (US$1.11/lb., 50%); and lead US$0.78/lb.; 62%).

The block model resource estimate was completed by Dr. Gilles Arseneau, P. Geo., Chief Geologist, of Wardrop, A Tetra Tech Company in Vancouver, B.C., and is based on a geological interpretation supplied by Silver Standard to Wardrop. Dr. Arseneau is an 'independent qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the San Agustin data disclosed in this release. The estimate is based on 87 reverse circulation holes totaling 13,272 meters and 153 diamond drill holes totaling 36,032 meters.

Plans for 2009

In addition to the completion of an updated resource estimate, Silver Standard is planning geophysical surveys, metallurgical studies and additional drilling. The 100%-owned property has excellent exploration potential for additional resources, both near surface and at depth.

Kenneth C. McNaughton, M.A.SC., P.ENG., vice president, exploration, Silver Standard Resources Inc., is the qualified person responsible for the exploration program at San Agustin.

With the increase in resources at San Agustin, Silver Standard continues to have the largest published silver resource of any publicly traded silver company, now totalling:

                Reserve and Resource Summary - April 2009

-------------------------------------------------------------------------
Silver reserves (i)
-------------------------------------------------------------------------
 Proven and probable                                 195.1 million ounces
-------------------------------------------------------------------------
Silver resources
-------------------------------------------------------------------------
 Measured                                            224.2 million ounces
-------------------------------------------------------------------------
 Indicated                                           826.5 million ounces
-------------------------------------------------------------------------
 Inferred                                            544.3 million ounces
-------------------------------------------------------------------------
Gold resources
-------------------------------------------------------------------------
 Measured                                              1.7 million ounces
-------------------------------------------------------------------------
 Indicated                                             5.1 million ounces
-------------------------------------------------------------------------
 Inferred                                             16.3 million ounces
-------------------------------------------------------------------------
(i) Reserves based on US$11.00/oz silver, $5.00/lb tin and $1.05/lb zinc.
-------------------------------------------------------------------------

Silver Standard Resources Inc. is a significant silver and gold resource company that seeks growth through exploration and development of its own projects. (Source: Silver Standard Resources Inc.)

To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046.

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