sale of a non-core asset for $15 million, half of it in silvercorp stock

Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) is pleased to report that it has entered into an agreement to sell 100% of its interest in the Silvertip Project to Silvercorp Metals Inc. ("Silvercorp") for total consideration of CDN$15.0 million, with up to CDN$7.5 million payable in common shares of Silvercorp. Subject to the satisfaction of customary closing conditions, the completion of the transaction is expected to take place on or about February 26, 2010, or such other date as agreed upon between the parties.

Silvertip, located in northern British Columbia, is a silver-base metals project that Silver Standard had acquired in 2002. The sale of the Silvertip Project is part of the ongoing rationalization of Silver Standard's portfolio of non-core assets.

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