Silver Standard Advancing Oxide And Sulphide Mining Complex 

VANCOUVER, BC - Silver Standard Resources Inc. reported operating results for the quarter ended June 30, 2011. The Company produced 2.0 million ounces of silver and 2.8 million pounds of zinc, and generated revenue of $47.3 million during the second quarter 2011.

"While Pirquitas, located in Norhtern Argentina continues its performance improvement, the key milestone this quarter is the Board's approval totaling $25 million to accelerate the advancement of a combined Pitarrilla oxide and sulphide mining complex in Mexico," said John Smith, President and CEO of Silver Standard. "The program will evaluate the development of the oxide zones to bring in early cash-flow and develop project infrastructure to enable early development of the sulphide resource."

The Pirquitas mine produced 2.0 million ounces of silver during the second quarter of 2011 compared with 1.7 million ounces in the first quarter of 2011 and 1.7 million ounces in the second quarter of 2010. The increased production in the quarter as compared to the first quarter was a result of production efficiencies implemented earlier in 2011.

During the second quarter of 2011, 295,004 tonnes of ore were processed at an average milling rate of 3,241 tonnes per day, compared to 307,745 tonnes at an average of 3,419 tonnes per day achieved in the first quarter of 2011 and 345,661 tonnes at an average milling rate of 3,798 tonnes per day in the second quarter of 2010. The reduced tonnage processed during the second quarter of 2011 resulted from a 13-day ball mill shutdown to refurbish the gearbox. Additional repairs and maintenance in July 2011 resulted in a further 17 days of downtime.

The mine continues to process sulphide ore and the metallurgical response and overall silver recovery rates are in line with feasibility study expectations. The ore produced during the second quarter of 2011 contained silver head grades of 261 grams/tonne and achieved recoveries of 80%, compared to silver head grades of 233 grams/tonne and recoveries of 74% in the first quarter of 2011 and silver head grades of 240 grams/tonne and recoveries of 64% in the second quarter of 2010. The higher recovery achieved during the second quarter was due principally to consistent feed and continuous improvements to the crushing and flotation circuits.

The mine produced a total of 2.8 million pounds of zinc in the second quarter of 2011 compared to 3.2 million pounds in the first quarter of 2011. The reduction in zinc production is primarily due to a lower grade being processed.

Test work of the tin circuit continues, with the objective of improving the tin recovery while maintaining a satisfactory final concentrate tin grade. Preliminary results of this test work are expected later in 2011.

A diamond drill program of approximately 17,500 meters is being completed at the Pirquitas mine and property area. The objective of the diamond drill program is to increase reserve and resource definition, particularly within the deeper zones of the San Miguel open pit deposit. In addition to the deeper in-fill drilling at the open pit, five closely spaced holes were completed at a target located approximately 500 meters north of the current open pit. The assay data from these five holes, together with those from previous holes, may define an additional silver-zinc-tin zone on the property. Laboratory assay results from the diamond drill program are pending. The company's address is 999 West Hastings Street, Suite 1400, Vancouver, BC V6C 2W2, 604-689-3846, fax: 604-689-3847.