Silver Standard Resources Inc.: Pirquitas Silver Mine Achieves Commercial
Production
VANCOUVER, BRITISH COLUMBIA, Dec
4, 2009 (Marketwire via COMTEX News Network) -- Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) reports that its
wholly-owned Pirquitas Mine in Jujuy, Argentina, achieved commercial
production effective December 1, 2009.
Mr. Robert
Quartermain, the company's president and chief executive officer, said that
"I am extremely pleased about reaching this significant milestone in the
company's history. Pirquitas will provide the foundation from which to grow
the company's silver production. I congratulate the Pirquitas team who worked
diligently to achieve this goal."
The mill is processing
oxide and transitional ore which to date is exceeding the company's
expectations for this material. Silver recoveries are exceeding 50% and
silver concentrate grading in excess of 22 kilograms of silver per tonne is
being produced. The mine is operating as planned and the mill will operate on
oxide and transitional ore until the sulphide ore currently being exposed
from the open pit is processed in the first quarter of 2010.
A conference call with
management to review progress at the Pirquitas Mine and to discuss the
Snowfield and Brucejack mineral resource updates (see News Release dated
December 1, 2009) will be held on Thursday, December 10, 2009 at 11:00 a.m.
EST.
Toll-free in North America: (866) 816-1982
All other calls: (913) 312-0398
This call will also be
web-cast and can be accessed at the following web location:
http://ir.silverstandard.com/eventdetail.cfm?eventid=75410.
The call will be
archived and available at www.silverstandard.com after December 10, 2009.
Audio replay will be
available for one week by calling:
Toll-free in North America: (888) 203-1112, replay passcode 4831338.
Overseas callers may dial: (719) 457-0820, replay passcode 4831338.
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.
Statements contained
in this news release that are not historical fact, such as statements
regarding the economic prospects of the company's projects, mineral reserve
and resource estimates, estimates and expectations of future mineral
production, expectations regarding the ramp-up, design, mine life, production
and costs applicable to sales at the Pirquitas Mine, future plans or future
revenues, timing of development or potential expansion or improvements, are
forward-looking statements as that term is defined in Canadian Securities
legislation and the Private Securities Litigation Reform Act of 1995. Such
forward looking statements are subject to risks and uncertainties which could
cause actual results to differ materially from estimated results. Such risks
and uncertainties include, but are not limited to, the company's ability to
raise sufficient capital to fund development, changes in economic conditions
or financial markets including changes in the development of a secondary
market for Canadian asset backed commercial paper restructured notes, changes
in prices for the company's mineral products or increases in input costs,
variances in ore grade or recovery rates from those assumed in mining plans,
litigation, legislative, environmental and other judicial, regulatory,
political and competitive developments in places where the company does
business, technological and operational difficulties or inability to obtain
permits encountered in connection with exploration and development
activities, labour relations matters, and changing foreign exchange rates,
all of which are described more fully in the company's Form 20-F and other
filings with Canadian regulators and the Securities and Exchange Commission. Our
forward-looking statements are based on the beliefs, expectations and
opinions of management on the date the statements are made, 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.
Source: Silver
Standard Resources Inc.
SOURCE: Silver
Standard Resources Inc.
Silver Standard Resources Inc.
Robert A. Quartermain
President & CEO
(604) 689-3846
Silver Standard Resources Inc.
Paul LaFontaine
Director, Investor Relations
N.A. toll-free: (888) 338-0046 or Direct: (604) 484-8212
invest@silverstandard.com
www.silverstandard.com