Silver Standard Provides Q3 2012 Operational Results

VANCOUVER, BC - Silver Standard Resources Inc. reported that the Pirquitas silver mine in Argentina produced 2.2 million ounces of silver during the third quarter, the second highest quarterly production in the history of the mine. On a year-to-date basis, the mine has produced 6.4 million ounces of silver, in line with production guidance. The 7.0% quarter-on-quarter improvement in silver production reflects higher average silver recoveries in the plant and consistent production at elevated operating rates. The mine also produced 2.8 million pounds of zinc, a 46% sequential improvement.

Approximately 404,000 tonnes of ore were milled at an average rate of 4,388 tonnes per day during the quarter, 10% above the plant's nominal design. The mill has operated at an average rate of over 4,400 tonnes per day during 2012, demonstrating the effectiveness of the Company's debottlenecking initiatives.

Ore milled during Q3 2012 contained an average silver grade of 214 g/t, in line with the 219 g/t reported last quarter. The average recovery rate for silver increased to 77.7% from 74.5% in the second quarter. The higher recovery resulted from further floatation circuit optimization and better supply of the preferred reagent.

Diamond drilling continues in the Cortaderas target area. The 2013 drilling program is focused on expanding and upgrading previously reported resources to the indicated mineral resource category. The Company defined several high potential drill targets using the gravity method of geophysical surveys. To date, the Company has drilled over 42,000 meters of a 50,000-meter drill program on the property.

The company's address is 999 West Hastings Street, Suite 1400, Vancouver, BC V6C 2W2, 604-689-3846, fax: 604-689-3847.