Silver Standard Resources Inc.

Silver Standard Resources Inc.

January 06, 2005 09:01 ET

Silver Standard Celebrates President's 20 Years of Service


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SILVER STANDARD RESOURCES INC.

TSX SYMBOL: SSO
NASDAQ SYMBOL: SSRI

JANUARY 6, 2005 - 09:01 ET

Silver Standard Celebrates President's 20 Years of
Service

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 6, 2005) - Silver
Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI)

The Board of Directors of Silver Standard Resources Inc. is pleased to
celebrate the 20th anniversary of Robert A. Quartermain's service as
president of the company. Mr. Quartermain joined Silver Standard in
January 1985 as the company's fourth president after supervising the
definition drilling of Teck Cominco's David Bell underground gold mine
at Hemlo, Ontario.

Silver Standard's board commented in a statement, "Mr. Quartermain's
technical proficiency and business acumen complement his consistent
conviction that the primary duty of Silver Standard's management is to
create shareholder value. His successful execution of strategies to
provide that value has served shareholders very well under his
stewardship."

When Mr. Quartermain arrived at Silver Standard, the company had debt,
two employees, a market capitalization of approximately $2.0 million,
and a substantial property portfolio in western Canada but no immediate
prospects for growth. The company's copper assets were folded into a new
company, Western Copper Holdings Limited (now known as Western Silver
Corporation), the shares of which were dividended to Silver Standard's
shareholders in 1985. Mr. Quartermain served as president of Western
Copper until 1995, when he encouraged Western Copper's move into Mexico,
and remained a director until early 2004.

After considerable Latin American experience, Mr. Quartermain led Silver
Standard's focus on silver in 1993 based on the metal's continuing
supply deficit. The company now has employees in five countries,
interests in 15 projects in North and South America, and Australia and
controls the largest silver resource of any publicly traded company in
North America. Silver Standard, whose common shares are traded on the
Nasdaq National Market and the Toronto Stock Exchange, currently has a
market capitalization of approximately $700 million.

At December 31, 2004, Silver Standard had 51.6 million shares issued,
approximately $42.8 million (US$35.5 million) in cash, 1.95 million
ounces of silver bullion valued at $16.0 million (US$13.3 million),
marketable securities valued at $4.0 million (US$3.3 million) and
nominal debt.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Silver Standard Resources Inc.
    Robert A. Quartermain
    President
    (604) 689-3846
    or
    Silver Standard Resources Inc.
    Paul LaFontaine
    Director, Investor Relations
    Direct: (604) 484-8212 or Toll Free (N.A.): 1-888-338-0046
    Email: invest@silverstandard.com
    Website: www.silver-standard.com