Silver Standard (SSRI) Updates on Pitarrilla Project; Feasibility Set for Mid-2012 Completion

Silver Standard Resources Inc. (Nasdaq: SSRI) updates on the Pitarrilla project in Durango, Mexico ("Pitarrilla"), including an updated mineral resources estimate for oxide and sulphide mineralization.

Highlights

• Contracted M3 Engineering to complete the Pitarrilla feasibility study. M3 has designed and built many mines in Mexico, including the Penasquito mine.
  
  
• Feasibility study on track for mid-year 2012 completion.
  
  
• Construction permit application on track for second-half 2012 submission.
  
  
• Feasibility design is being based on an open-pit mine and a 16,000 tonne per day plant with an agitated leach circuit producing a silver dore and a flotation circuit producing separate zinc and lead concentrates containing payable silver.
  
  
• Hired experienced project manager and key development and construction management personnel.
  
  
• Measured and Indicated mineral resources estimate of 655.7 million ounces of contained silver (at a 30 g/t silver cut-off grade).
  
  
• Inferred mineral resources estimate of 65.0 million ounces of contained silver (at a 30 g/t silver cut-off grade).

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