Silver Standard Resources Inc.
TSX : SSO
NASDAQ : SSRI

Silver Standard Resources Inc.

July 12, 2005 09:00 ET

Silver Standard Completes Drilling at Berenguela Project in Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 12, 2005) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to report the remaining outstanding drilling results from the Berenguela project located five kilometers east of Santa Lucia on the altiplano of southern Peru. The Berenguela property covers a zone of polymetallic mineralization at surface which hosts significant silver resources. Silver Standard holds an option to acquire the silver resources at Berenguela.

The accompanying table summarizes assay results for 29 holes collared in the Burton Block, Burton Block Extension, Chapi and the Cerro Block Extension, all of which are located in the northeastern quadrant of the mineralization at Berengeula and are east and northeast of earlier reported drill results. Drilling continues to confirm continuity and grade of mineralization and the Chapi Zone and the two extensions are new areas not included in the historical resource. Highlights of drilling in the table that follows include:

- BER-213, located on Line 1750E in the Chapi Block, which intersected:

- 279.0 feet averaging 7.4 ounces of silver per ton (85 meters averaging 252.4 grams of silver per tonne), including 49.2 feet averaging 19.2 ounces of silver per ton (15 meters averaging 657.5 grams of silver per tonne).

- BER-210, located on Line 2000E in the Burton Block Extension, which intersected:

- 426.7 feet averaging 3.5 ounces of silver per ton (130 meters averaging 121.3 grams of silver per tonne), including 75.5 feet averaging 5.5 ounces of silver per ton (23 meters averaging 187.7 grams of silver per tonne).

- BER-221, located on Line 2200E in the Cerro Block Extension, which intersected:

- 226.5 feet averaging 6.3 ounces of silver per ton (69 meters averaging 215.6 grams of silver per tonne), including 49.2 feet averaging 13.0 ounces of silver per ton (15 meters averaging 446.1 grams of silver per tonne).

A total of 18,972 meters of reverse circulation drilling in 222 holes has now been completed by Silver Standard at Berenguela and under the terms of its option agreement, Silver Standard is preparing a resource estimate for the property in accordance with Canada's National Instrument 43-101. The company expects to exercise its option to acquire silver resources at Berenguela following completion of the resource estimate.

Kenneth C. McNaughton, M.A.Sc., P.Eng., vice president, exploration, Silver Standard Resources Inc., is the qualified person responsible for the exploration program at Berenguela.

For other news releases related to the Berenguela project, please refer to news releases in 2005 dated January 18, February 2, March 31, April 19, May 2, May 23, June 1 and June 16 on Silver Standard's web site: www.silverstandard.com.

Silver Standard Resources Inc. is a well-financed silver resource company with $31.6 million in cash, and 1.95 million ounces of physical silver, marketable securities and other investments valued at $24.1 million at July 11, 2005. The company continues to seek resource growth through development of its own projects, exploration and acquisitions.

To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties which could cause actual results to vary considerably from these statements. The risks and uncertainties include those described in Silver Standard's SEC Form 20F as amended.



SELECTED BERENGUELA, PERU DRILL RESULTS - July 2005
Silver
Interval Silver Interval Grade
(in Grade (in (in
Hole No. Zone From To meters) (g/t) feet) oz.ton)
BER-194 Burton Block 0 33 33 74.5 108.3 2.2
BER-195 Burton Block 22 45 23 84.1 75.5 2.5
Burton Block 96 110 14 92.1 45.9 2.7
BER-196 Burton Block 19 39 20 137.5 65.6 4.0
incl. Burton Block 21 26 5 363.4 16.4 10.6
BER-197 Burton Block 20 54 34 73.0 111.6 2.1
BER-198 Burton Block 23 38 15 54.7 49.2 1.6
BER-199 Burton Block 17 45 28 58.5 91.9 1.7
BER-200 Burton Block No significant mineralization
BER-201 Burton Block 11 41 30 136.5 98.5 4.0
incl. Burton Block 25 33 8 335.6 26.3 9.8
Burton Block 76 98 22 78.4 72.2 2.3
BER-202 Burton Block 21 61 40 68.2 131.3 2.0
BER-203 Burton Block 0 20 20 81.0 65.6 2.4
Burton Block 54 85 31 90.5 101.7 2.6
BER-204 Burton Block 0 16 16 85.8 52.5 2.5
BER-205 Burton Block 13 41 28 101.4 91.9 3.0
BER-206 Burton Block 36 53 17 75.1 55.8 2.2
BER-207 Burton Block 22 37 15 40.6 49.2 1.2
BER-208 Burton
Extension 19 53 34 113.3 111.6 3.3
67 82 15 62.3 49.2 1.8
BER-209 Chapi 0 4 4 113.0 13.1 3.3
83 95 12 102.3 39.4 3.0
BER-210 Burton
Extension 5 135 130 121.3 426.7 3.5
incl. 72 85 13 291.1 42.7 8.5
incl. 110 133 23 187.7 75.5 5.5
BER-211 Chapi 26 54 28 78.0 91.9 2.3
BER-212 Chapi 0 44 44 101.6 144.4 3.0
BER-213 Chapi 74 159 85 252.4 279.0 7.4
incl. 112 127 15 657.5 49.2 19.2
BER-214 Chapi 19 32 13 61.8 42.7 1.8
BER-215 Chapi 48 124 76 103.1 249.4 3.0
incl. 73 81 8 411.9 26.3 12.0
and 108 123 15 156.1 49.2 4.6
BER-216 Burton
Extension 0 11 11 187.7 36.1 5.5
BER-217 Cerro
Extension 0 15 15 63.4 49.2 1.8
BER-218 Cerro
Extension 0 68 68 65.7 223.2 1.9
BER-219 Chapi 0 48 48 92.9 157.5 2.7
and 66 93 27 226.5 88.6 6.6
incl. 76 83 7 668.9 23.0 19.5
BER-220 Burton
Extension 0 10 10 207.5 32.8 6.1
and 35 57 22 102.0 72.2 3.0
BER-221 Burton
Extension 22 91 69 215.6 226.5 6.3
incl. 39 54 15 446.1 49.2 13.0
incl. 67 76 9 485.1 29.5 14.1
and 100 111 11 146.0 36.1 4.3
BER-222 Cerro
Extension 0 8 8 113.0 26.3 3.3

- True thickness to be determined. Kenneth C. McNaughton, M.A.Sc.,
P.Eng., and vice president, exploration, Silver Standard Resources
Inc., is the Qualified Person (QP) responsible for the Berenguela
exploration program and has verified the data in the table above. All
assays were submitted for preparation and analysis by ALS Chemex at
its facilities in Lima, Peru (preparation) and Vancouver, B.C.
(analysis). All samples were analyzed using four acid digestion with
ICP finish. Samples over 200 grams were reanalyzed using four acid
digestion with an ore grade AA finish. Samples over 1,000 grams were
fire assayed with a gravimetric finish. One in 20 samples were blind
duplicate assayed at ALS Chemex in Vancouver, B.C.



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Contact Information

  • Silver Standard Resources Inc.
    Robert A. Quartermain
    President
    (604) 689-3846
    (604) 689-3847 (FAX)
    or
    Silver Standard Resources Inc.
    Paul LaFontaine
    Director, Investor Relations
    N.A/ Toll Free: (888) 338-0046 or Direct: (604) 484-8212
    invest@silverstandard.com
    www.silverstandard.com