Silver Standard Resources (SSRI) Files Preliminary Prospectus With U.S. SEC

Silver Standard Resources Inc. (NASDAQ: SSRI) has filed a preliminary prospectus supplement to its amended and restated short form base shelf prospectus with the securities commissions in each of the provinces of Canada, other than Quebec, Newfoundland and Labrador and Prince Edward Island, and has made a similar filing with the United States Securities and Exchange Commission in connection with a public offering of its common shares to raise gross proceeds of approximately $100 million (the "Offering").

The company will also grant to the underwriters of the Offering an option, exercisable for a period of 30 days following the closing of the Offering, to purchase additional common shares for additional gross proceeds of up to approximately $15 million.

The company intends to use the net proceeds from the Offering to fund the exploration on and development of mineral properties, for working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes.

UBS Securities Canada Inc. will act as lead manager and sole book runner of the Offering.