Silver
Standard Appoints New Vice President, Finance and CFO
VANCOUVER, BRITISH
COLUMBIA, Jul 18, 2007 (CCNMatthews via COMTEX News Network) -- Silver
Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to report the
appointment of Tom S. Q. Yip as Vice President, Finance and Chief Financial
Officer, effective July 16, 2007. Mr. Yip's career includes 22 years in
senior financial management positions in the mining industry including the
positions of Vice President, Finance and CFO at Echo Bay Mines Ltd. and most
recently at Asarco, LLC.
Mr. Yip brings
significant experience in the financial organization for development,
construction and operation of mine sites as Silver Standard transitions from
an exploration company to a leading silver producer. Mr. Yip is a chartered
accountant and holds a B. Comm. in Business Administration from the
University of Alberta.
Mr. Yip assumes leadership of Silver Standard's financial
function from Ross A. Mitchell who is retiring this year following a
successful 11-year career as Vice President, Finance at the company. During
this period, Silver Standard grew from a handful of projects to 17
silver-focused projects in seven countries, and working capital expanded from
$12.2 million at year-end 1996 to $270.7 million at March 31, 2007.
Silver Standard is a well-financed silver exploration and
development company that is moving the Pirquitas project in Argentina to
production for the fourth quarter of 2008. The company is also advancing the
San Luis high-grade, joint venture project in Peru and the 100%-owned
Pitarrilla project in Mexico, projects that will help Silver Standard achieve
its goal of becoming a leading primary silver producer. (SSRI-CO)
Statements contained in this news release that are not
historical fact, such as statements regarding the economic prospects of the
company's projects, future plans or future revenues, timing of development or
potential expansion or improvements, are forward-looking statements as that
term is defined in 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, changes in prices for the company's mineral products or
increases in input costs, litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments in jurisdictions
in which the company operates, 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
filings with the Securities and Exchange Commission.
SOURCE: Silver Standard Resources Inc.
Silver Standard Resources Inc.
Robert A. Quartermain
President
(604) 689-3846
Silver Standard Resources Inc.
Paul LaFontaine
Director, Investor Relations
N.A/ Toll Free: 1-888-338-0046 or Direct: (604) 484-8212
(604) 689-3847 (FAX)
Email: invest@silverstandard.com
Website: www.silverstandard.com