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Form 6-K SILVER STANDARD RESOURCE For: May 10

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May 10, 2016 6:05 AM EDT


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For May 10, 2016
Commission File Number: 000-26424
SILVER STANDARD RESOURCES INC.
(Translation of registrant's name into English)

#800 - 1055 Dunsmuir Street
PO Box 49088, Bentall Postal Station
Vancouver, British Columbia
Canada V7X 1G4
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

[ ] Form 20-F   [x] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [       ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [           ]

DOCUMENTS FILED AS PART OF THIS FORM 6-K

See the Exhibit Index hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



 
Silver Standard Resources Inc.
 
(Registrant)
 
 
 
Date: May 10, 2016
By:
Signed: "Gregory Martin"
 
 
Gregory Martin
 
Title:
Chief Financial Officer







SUBMITTED HEREWITH

Exhibits
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 







May 9, 2016
News Release 16-11

MARIGOLD MINE EXPLORATION UPDATE

VANCOUVER, B.C. -- Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) (“Silver Standard”) provides an exploration update for first quarter Mineral Resource development activities at its Marigold mine (“Marigold”) in Nevada, U.S.
Highlights:
▪
Resource development drilling in the Mackay North area continues to confirm the continuity of mineralization with higher grades and consistent widths expected to convert Mineral Resources to Mineral Reserves. Select results included:
▪
At Terry Zone North, drillhole MR6188 intersected 0.88 g/t gold over 74.7 meters from 118.9 meters below surface; and
▪
At HideOut, drillhole MR6186 intersected 1.30 g/t gold over 29.0 meters from 94.5 meters below surface.
▪
Valmy project permits are expected in May 2016 and will enable exploration drilling to begin by the end of the second quarter of 2016.

Paul Benson, President and CEO said, “Our exploration team continues to unlock additional value at Marigold. The ultimate goal of our work is mine life extension and driving better margins through these higher-grade discoveries and better understanding of the resource model.”

Mineral Resource Development Drilling at Mackay North

The most recent phase of the Mackay North Mineral Resources development program consisted of 54 drillholes totaling 11,860 meters and was completed during the first quarter of 2016. Drilling as of quarter-end has continued to confirm the continuity of mineralization with higher grades and consistent widths expected to convert Mineral Resources to Mineral Reserves.

The objectives of the Mackay North Mineral Resources development program are to add Mineral Resources within the Terry Zone North (“TZN”), convert these Mineral Resources to Mineral Reserves by year-end, add definition to the HideOut deposit and conduct step-out drilling to add Mineral Resources on trend.



Page 1


Drill results as shown on the cross-section A-A’ demonstrate the presence and continuity of higher-grade structures with additional drillhole results pending from the continuing program. The best result from the first quarter drilling program was drillhole MR6188 that intersected 0.88 g/t gold over 74.7 meters, including 4.48 g/t over 10.6 meters. This drilling, combined with our program to re-assay historic samples (the “Assay Program”) underway within the TZN area, is expected to convert these Mineral Resources to Mineral Reserves upon the completion of the drilling and Assay Program. The TZN deposit has estimated Indicated Mineral Resources of 220,000 ounces of gold at December 31, 2015.

Resource definition drilling in the HideOut deposit has defined and extended gold mineralization south of the discovery hole (MR6127) drilled in 2015 and north of the current Mackay pit limit. The best result from the first quarter drilling program was drillhole MR6186 that intersected 1.30 g/t gold over 29.0 meters, including 3.30 g/t gold over 9.1 meters. The step out drilling in the Hideout deposit area has extended mineralization northward by an additional 125 meters. This drilling within the HideOut deposit area is expected to increase Mineral Resources upon the completion of the drill program later in 2016. The HideOut deposit has estimated Indicated Mineral Resources of 48,500 ounces of gold at December 31, 2015.

Figure 1 shows the location of the 2016 drillhole collars. Figures 2 and 3 are cross-sections through the TZN and HideOut areas, respectively. Results from this quarter’s drillholes are included in Table 1. A list of drillhole collar coordinates is included in Table 2. The Mackay North area exploration and development program results will be included in an updated Mineral Resources estimate for Marigold in the fourth quarter of 2016 and reported in our annual 2016 Mineral Resources and Mineral Reserves statement to be published in the first quarter of 2017.

Valmy Property

Valmy property permits are expected to be received in May 2016, which will enable exploration drilling to begin in the second quarter of 2016. The objective of the 2016 Valmy drill program is to convert Mineral Resources to Mineral Reserves. During the quarter, geologic interpretation from historical data was conducted and target areas have been identified. The Valmy property has estimated Inferred Mineral Resources of 300,000 ounces of gold at December 31, 2015.

Assay Program

During 2015, we undertook the Assay Program with the objective of identifying low-grade ore that was not included in the existing Mineral Reserves. In 2015, we assayed a total of 97,950 samples from within the planned production areas through 2019. We anticipate re-assaying up to 60,000 samples in 2016, which is sufficient to cover the remainder of the current mine plan. The Assay Program has allowed better spatial definition of the lower grade portions of the ore body.

During the first quarter of 2016 we have assayed 25,504 samples. Thus far, results from the Assay Program carried out in 2016 are broadly in line with results achieved in 2015. The Assay Program will be completed by the end of the second quarter 2016 having assayed all samples within the current life of mine plan and those within the TZN area.











Page 2


Figure 1. Drillhole location plan map for the 2016 exploration drill program at the Marigold mine, Nevada, U.S.


Figure 2. Cross-section through the Terry Zone North area showing drill results from the 2016 exploration drill program at the Marigold mine, Nevada, U.S.






Page 3


Figure 3. Cross-section through the HideOut area showing drill results from the 2016 exploration drill program at the Marigold mine, Nevada, U.S.































Page 4


Table 1. Drillhole results from the 2016 exploration drill program at the Marigold mine, Nevada, U.S.

Hole ID
From
(meters)
To
(meters)
Width
(meters)
Gold Grade
(g/tonne)
Area
MR6157
0.0
70.1
70.1
0.08
HideOut
 
114.3
141.7
27.4
0.44
 
MR6161
0.0
76.2
76.2
0.13
HideOut
 
117.3
123.4
6.1
0.24
 
MR6162
0.0
76.2
76.2
0.11
HideOut
 
189.0
216.4
27.4
1.00
 
 
225.6
242.3
16.8
0.13
 
MR6163
0.0
73.2
73.2
0.12
HideOut
 
182.9
227.1
44.2
0.11
 
MR6169
0.0
76.2
76.2
0.12
HideOut
 
164.6
190.5
25.9
0.18
 
MR6171
0.0
73.2
73.2
0.12
HideOut
MR6172
0.0
57.9
57.9
0.09
HideOut
 
161.5
227.1
65.5
0.12
 
MR6173
160.0
185.9
25.9
0.63
TZN
MR6174
0.0
45.7
45.7
0.13
8Sx
 
153.9
166.1
12.2
0.17
 
MR6175
0.0
42.7
42.7
0.10
8Sx
MR6176
0.0
48.8
48.8
0.08
8Sx
 
175.3
227.1
51.8
0.36
 
 
242.3
245.4
3.0
0.22
 
MR6177
0.0
54.9
54.9
0.07
HideOut
 
68.6
164.6
96.0
0.17
 
MR6178
0.0
61.0
61.0
0.10
HideOut
 
61.0
128.0
67.1
0.45
 
 
157.0
178.3
21.3
0.21
 
MR6179
0.0
73.2
73.2
0.13
8Sx Mineralized Stockpile
MR6180
0.0
97.5
97.5
0.09
8Sx Mineralized Stockpile
MR6181
0.0
57.9
57.9
0.08
8Sx Mineralized Stockpile
MR6182
103.6
166.1
62.5
0.45
TZN
MR6183
0.0
42.7
42.7
0.08
HideOut
 
76.2
97.5
21.3
0.38
 
 
123.4
128.0
4.6
0.11
 
MR6184B
105.2
146.3
41.1
0.48
TZN
 
161.5
164.6
3.0
0.14
 
 
172.2
199.6
27.4
0.68
 
MR6186
0.0
57.9
57.9
0.13
HideOut
 
94.5
123.4
29.0
1.30
 
Including
105.2
114.3
9.1
3.30
 
MR6187
0.0
134.1
134.1
0.09
8Sx Mineralized Stockpile
MR6188
118.9
193.6
74.7
0.88
TZN


Page 5

Hole ID
From
(meters)
To
(meters)
Width
(meters)
Gold Grade
(g/tonne)
Area
Including
181.4
192.0
10.6
4.48
 
MR6189
265.2
277.4
12.2
0.42
TZN
MR6190
0.0
67.1
67.1
0.12
HideOut
 
85.3
91.4
6.1
0.16
 
 
131.1
138.7
7.6
0.16
 
MR6191
0.0
64.0
64.0
0.17
HideOut
 
79.2
99.1
19.8
0.67
 
MR6192
0.0
67.1
67.1
0.09
HideOut
 
178.3
245.4
67.1
0.21
 
MR6193
0.0
76.2
76.2
0.13
HideOut
 
192.0
228.6
36.6
0.25
 
MR6194
131.1
137.2
6.1
0.14
TZN
 
157.0
173.7
16.8
0.47
 
 
182.9
204.2
21.3
2.71
 
MR6195
99.1
118.9
19.8
0.18
TZN
 
150.9
187.5
36.6
1.16
 
 
208.8
227.1
18.3
0.31
 
MR6196
89.9
137.2
47.2
0.17
TZN
 
172.2
187.5
15.2
0.31
 
MR6197
0.0
76.2
76.2
0.08
HideOut
 
195.1
240.8
45.7
0.90
 
MR6198
0.0
77.7
77.7
0.10
HideOut
 
196.6
228.6
32.0
0.54
 
MR6199
0.0
77.7
77.7
0.09
HideOut
 
198.1
230.1
32.0
0.76
 
MR6200
105.2
121.9
16.8
0.19
TZN
 
155.4
182.9
27.4
0.76
 
 
182.9
204.2
21.3
0.15
 
MR6201
51.8
57.9
6.1
0.14
TZN
 
111.3
143.3
32.0
0.12
 
 
155.4
170.7
15.2
0.42
 
MR6202
117.3
120.4
3.0
0.11
TZN
 
143.3
153.9
10.7
0.20
 
 
178.3
205.7
27.4
2.01
 
MR6203
41.1
51.8
10.7
0.14
TZN
 
120.4
131.1
10.7
0.22
 
 
140.2
158.5
18.3
0.15
 
 
185.9
204.2
18.3
3.77
 
MR6204
30.5
33.5
3.0
0.10
TZN
 
111.3
117.3
6.1
0.15
 
 
126.5
190.5
64.0
0.72
 
MR6205
0.0
76.2
76.2
0.05
HideOut
 
199.6
204.2
4.6
0.15
 
MR6206
0.0
73.2
73.2
0.12
HideOut


Page 6

Hole ID
From
(meters)
To
(meters)
Width
(meters)
Gold Grade
(g/tonne)
Area
 
169.2
173.7
4.6
0.36
 
 
309.4
312.4
3.0
0.17
 
MR6207
0.0
91.4
91.4
0.13
HideOut
MR6208
0.0
109.7
109.7
0.06
8Sx Mineralized Stockpile
MR6209
0.0
48.8
48.8
0.08
8Sx Mineralized Stockpile
MR6210
0.0
64.0
64.0
0.14
8Sx Mineralized Stockpile
MR6211
0.0
109.7
109.7
0.09
8Sx Mineralized Stockpile
MRA6212
25.9
32.0
6.1
0.22
8Sx
 
114.3
115.8
1.5
0.23
 
MRA6213
85.3
96.0
10.7
0.15
8Sx
MR6214
0.0
109.7
109.7
0.09
8Sx Mineralized Stockpile
MR6215
0.0
140.2
140.2
0.09
8Sx Mineralized Stockpile
MR6216
0.0
140.2
140.2
0.10
8Sx Mineralized Stockpile
MR6218
0.0
140.2
140.2
0.10
8Sx Mineralized Stockpile
MR6219
0.0
140.2
140.2
0.10
8Sx Mineralized Stockpile
MR6221
0.0
94.5
94.5
0.09
HideOut
MR6224
0.0
99.1
99.1
0.08
HideOut

Notes: Width in meters represents downhole intersected length, which may or may not be a true thickness of the mineralization.
































Page 7


Table 2. Drillhole collars (Marigold mine, Nevada, U.S.)


Hole ID
UTM-N (Nad27 Zone 11)
UTM-E (Nad27 Zone 11)
Elevation (masl)
Azimuth (deg.)
Dip (deg.)
Length (metres)
Area
MR6157
4508845
485869
1592
323
-89
276
HideOut
MR6161
4508846
485898
1592
37
-89
288
HideOut
MR6162
4509030
485815
1605
120
-89
276
HideOut
MR6163
4509007
485808
1604
237
-89
277
HideOut
MR6169
4508959
485830
1605
36
-90
245
HideOut
MR6171
4509171
485876
1591
47
-89
262
HideOut
MR6172
4509130
485872
1591
112
-88
276
HideOut
MR6173
4510445
485544
1493
165
-89
221
TZN
MR6174
4509342
485641
1565
268
-89
245
8Sx
MR6175
4509440
485711
1564
7
-89
276
8Sx
MR6176
4509543
485776
1560
183
-88
291
8Sx
MR6177
4508784
485760
1571
315
-89
245
HideOut
MR6178
4508789
485790
1574
232
-89
245
HideOut
MR6179
4509602
485872
1561
0
-90
73
8Sx Mineralized Stockpile
MR6180
4510086
486144
1501
272
-89
107
8Sx Mineralized Stockpile
MR6181
4510088
486097
1502
90
-90
61
8Sx Mineralized Stockpile
MR6182
4510408
485390
1496
242
-89
215
TZN
MR6183
4508795
485820
1577
275
-89
245
HideOut
MR6184B
4510431
485360
1496
360
-89
218
TZN
MR6186
4508799
485851
1581
25
-90
245
HideOut
MR6187
4509822
486269
1499
324
-90
155
8Sx Mineralized Stockpile
MR6188
4510409
485328
1496
181
-89
215
TZN
MR6189
4510441
485047
1501
78
-90
308
TZN
MR6190
4508804
485881
1583
337
-90
245
HideOut
MR6191
4508808
485911
1587
334
-89
245
HideOut
MR6192
4508918
485794
1605
11
-89
276
HideOut
MR6193
4508897
485777
1605
257
-90
276
HideOut
MR6194
4510495
485241
1496
119
-89
245
TZN
MR6195
4510314
485221
1501
179
-88
251
TZN
MR6196
4510558
485361
1493
51
-89
215
TZN
MR6197
4509124
485812
1593
20
-90
258
HideOut
MR6198
4509132
485845
1592
353
-90
337
HideOut
MR6199
4509107
485838
1592
240
-90
306
HideOut
MR6200
4510375
485359
1497
312
-89
221
TZN
MR6201
4510347
485384
1498
297
-89
215
TZN


Page 8


Hole ID
UTM-N (Nad27 Zone 11)
UTM-E (Nad27 Zone 11)
Elevation (masl)
Azimuth (deg.)
Dip (deg.)
Length (metres)
Area
MR6202
4510345
485328
1498
252
-89
213
TZN
MR6203
4510283
485326
1499
340
-90
229
TZN
MR6204
4510315
485352
1499
17
-90
229
TZN
MR6205
4509055
485866
1591
243
-90
320
HideOut
MR6206
4509081
485863
1591
172
-89
337
HideOut
MR6207
4509284
485820
1611
77
-89
343
HideOut
MR6208
4509771
486369
1495
90
-90
110
8Sx Mineralized Stockpile
MR6209
4509979
486089
1501
90
-90
49
8Sx Mineralized Stockpile
MR6210
4509896
486153
1500
90
-90
64
8Sx Mineralized Stockpile
MR6211
4509972
486172
1499
90
-90
110
8Sx Mineralized Stockpile
MRA6212
4509680
486334
1499
208
-64
200
8Sx
MRA6213
4509679
486336
1499
149
-64
200
8Sx
MR6214
4509771
486271
1501
90
-90
110
8Sx Mineralized Stockpile
MR6215
4509864
486244
1499
90
-90
140
8Sx Mineralized Stockpile
MR6216
4509895
486234
1499
90
-90
140
8Sx Mineralized Stockpile
MR6218
4510007
486181
1499
0
-90
140
8Sx Mineralized Stockpile
MR6219
4510034
486181
1499
0
-90
140
8Sx Mineralized Stockpile
MR6221
4509206
485820
1610
0
-90
227
HideOut
MR6224
4509287
485872
1609
0
-90
203
HideOut

Notes: This table reports all the drillholes completed during the first quarter of 2016. The numerical gaps in the drillhole sequence result from drillholes reported previously or drillholes expected to be drilled in the second quarter of 2016.

Sampling and Analytical Procedures

All drill samples in respect of the program were sent for processing and analysis to the offices of American Assay Laboratories, Inc. (“AAL”) in Sparks, Nevada which is an ISO 17025 accredited laboratory independent from Silver Standard. Fire assay was completed on a 30 gram sample (AAL method code FA-PB30-ICP) with an Inductively Coupled Plasma (“ICP”) finish after a two acid digestion. Samples with assay results greater than 10 g/t were fire assayed on a 30 gram sample (AAL method code Grav Au30) with a gravimetric finish. We employ a rigorous Quality Assurance/Quality Control (“QA/QC”) program, which includes real-time assay quality monitoring through the regular insertion of blanks, duplicates, and certified reference material, as well as reviewing laboratory-provided QA/QC data.






Page 9


Qualified Persons
The scientific and technical data contained in this news release has been reviewed and approved by James N. Carver, SME Registered Member, and Karthik Rathnam, MAusIMM (CP), each of whom is a Qualified Person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Carver and Mr. Rathnam are employed at Marigold as our Chief Geologist and Senior Resource Geologist, respectively.

About Silver Standard

Silver Standard is a Canadian-based precious metals producer with two wholly-owned and operated mines, including the Marigold gold mine in Nevada, U.S. and the Pirquitas silver mine in Jujuy Province, Argentina. We also have two feasibility stage projects and an extensive portfolio of exploration properties throughout North and South America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.


SOURCE: Silver Standard Resources Inc.
For further information contact:
W. John DeCooman, Jr.
Vice President, Business Development and Strategy
Silver Standard Resources Inc.
Vancouver, BC 
N.A. toll-free: +1 (888) 338-0046
All others: +1 (604) 689-3846


To receive Silver Standard’s news releases by e-mail, please register using the Silver Standard website at www.silverstandard.com.

Cautionary Note Regarding Forward-Looking Statements:
This news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”) concerning the anticipated developments in our operations in future periods, and other events or conditions that may occur or exist in the future. All statements, other than statements of historical fact, are forward-looking statements.

Generally, forward-looking statements can be identified by the use of words or phrases such as “expects,” “anticipates,” “plans,” “projects,” “estimates,” “assumes,” “intends,” “strategy,” “goals,” “objectives,” “potential,” or variations thereof, or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The forward-looking statements in this news release relate to, among other things: future production of gold, silver and other metals; the effects of laws, regulations and government policies affecting our operations or potential future operations; estimated production rates for gold, silver and other metals produced by us; ongoing or future development plans and capital replacement, improvement or remediation programs; and our plans and expectations for our properties and operations.

These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, the following: uncertainty of production, development plans and cost estimates for the Marigold mine, the Pirquitas mine and our projects; our ability to replace Mineral Reserves; our ability to complete and successfully integrate an announced acquisition, including the recently announced acquisition of Claude Resources Inc.; subject to exercising


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our election to proceed, our ability to complete and successfully integrate Golden Arrow Resources Corporation’s Chinchillas project, on a joint venture basis, into our current operations; commodity price fluctuations; political or economic instability and unexpected regulatory changes; currency fluctuations; the possibility of future losses; general economic conditions; fully realizing the value of our shareholdings in Pretium Resources Inc. and our other marketable securities, due to changes in price, liquidity or disposal cost of such marketable securities; potential export duty and related interest on past production and sales of silver concentrate from the Pirquitas mine; counterparty and market risks related to the sale of our concentrate and metals; uncertainty in the accuracy of Mineral Reserves and Mineral Resources estimates and in our ability to extract mineralization profitably; differences in U.S. and Canadian practices for reporting Mineral Reserves and Mineral Resources; lack of suitable infrastructure or damage to existing infrastructure; future development risks, including start-up delays and cost overruns; our ability to obtain adequate financing for further exploration and development programs and opportunities; uncertainty in acquiring additional commercially mineable mineral rights; delays in obtaining or failure to obtain governmental permits, or non-compliance with our permits; our ability to attract and retain qualified personnel and management; potential labour unrest, including labour actions by our unionized employees at the Pirquitas mine; the impact of governmental regulations, including health, safety and environmental regulations, including increased costs and restrictions on operations due to compliance with such regulations; reclamation and closure requirements for our mineral properties; social and economic changes following closure of a mine, including the expected closure of the Pirquitas mine in late 2016, may lead to adverse impacts and unrest; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond our control; indigenous peoples' title claims and rights to consultation and accommodation may affect our existing operations as well as development projects and future acquisitions; assessments by taxation authorities in multiple jurisdictions, including the recent reassessment by the Canada Revenue Agency; recoverability of value added tax and changes to the collection process in Argentina; claims and legal proceedings, including adverse rulings in litigation against us and/or our directors or officers; compliance with anti-corruption laws and internal controls, and increased regulatory compliance costs; complying with emerging climate change regulations and the impact of climate change; uncertainties related to title to our mineral properties and the ability to obtain surface rights; the sufficiency of our insurance coverage; civil disobedience in the countries where our mineral properties are located; operational safety and security risks; actions required to be taken by us under human rights law; competition in the mining industry for mineral properties; shortage or poor quality of equipment or supplies; an event of default under our convertible notes may significantly reduce our liquidity and adversely affect our business; failure to meet covenants under our senior secured revolving credit facility; conflicts of interest that could arise from certain of our directors' involvement with other natural resource companies; information systems security threats; and those other various risks and uncertainties identified under the heading “Risk Factors” in our most recent Annual Information Form filed with the Canadian securities regulatory authorities and included in our most recent Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (“SEC”).

This list is not exhaustive of the factors that may affect any of our forward-looking statements. Our forward-looking statements are based on what our management currently considers to be reasonable assumptions, beliefs, expectations and opinions based on the information currently available to it. Assumptions have been made regarding, among other things, our ability to carry on our exploration and development activities, our ability to meet our obligations under our property agreements, the timing and results of drilling programs, the discovery of Mineral Resources and Mineral Reserves on our mineral properties, the timely receipt of required approvals and permits, including those approvals and permits required for successful project permitting, construction and operation of our projects, the price of the minerals we produce, the costs of operating and exploration expenditures, our ability to operate in a safe, efficient and effective manner, our ability to obtain financing as and when required and on reasonable terms and our ability to continue operating the Marigold mine and the Pirquitas mine. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. We cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. Our forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and we do not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

Cautionary Note to U.S. Investors
This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards


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differ significantly from the requirements of the SEC set out in SEC Industry Guide 7. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC. Under SEC standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically produced or extracted at the time the reserve determination is made. In addition, the SEC’s disclosure standards normally do not permit the inclusion of information concerning “Measured Mineral Resources,” “Indicated Mineral Resources” or “Inferred Mineral Resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. U.S. investors should understand that “Inferred Mineral Resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Moreover, the requirements of NI 43-101 for identification of “reserves” are also not the same as those of the SEC, and reserves reported by us in compliance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.


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