Silver Standard Resources Inc.
TSX : SSO
NASDAQ : SSRI

Silver Standard Resources Inc.

June 16, 2005 09:00 ET

Silver Standard Extends Silver Mineralization Eastward at Berenguela Project in Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 16, 2005) - All amounts in Canadian dollars.

Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to report further significant intersections from ongoing drilling at 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 which hosts significant silver resources. Silver Standard holds an option to acquire the silver resources at Berenguela.

The accompanying table summarizes assay results for 17 holes collared in the Burton Block and the Cerro Block Extension, two of four contiguous zones located on the property. These two zones are located east and northeast of earlier reported drill results and drilling continues to confirm continuity and grade of mineralization. Highlights of drilling in the table that follows include:

- BER-188, a vertical hole located on Line 1950E in the Burton Block which intersected:

- 331.4 feet averaging 2.7 ounces of silver per ton (101 meters averaging 92 grams of silver per tonne).

- BER-185 located on Line 2000E in the Burton Block which intersected:

- 219.8 feet averaging 3.8 ounces of silver per ton (67 meters averaging 129 grams of silver per tonne), including 85.3 feet averaging 6.4 ounces of silver per ton (26 meters averaging 220 grams of silver per tonne).

- BER-193, located on Line 2000E 50 meters from BER-185 in the Burton Block which intersected:

- 131.2 feet averaging 5.0 ounces of silver per ton (40 meters averaging 170 grams of silver per tonne), including 6.6 feet averaging 38.0 ounces of silver per ton (2 meters averaging 1,303 grams of silver per tonne).

Drilling has now been completed and further assays are pending.

Under the terms of its option agreement, Silver Standard is required to prepare a resource estimate for the property in accordance with Canada's National Instrument 43-101. The drill program was designed to confirm and expand the historical resource estimate previously announced for the Berenguela property. 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, and June 1 on Silver Standard's web site: www.silverstandard.com.

Silver Standard Resources Inc. is a well-financed silver resource company with $33.8 million in cash, and 1.95 million ounces of physical silver, marketable securities and other investments valued at $24.5 million at June 15, 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.



Berengela, Peru Selected Drilling Results(i) - June 2005
Silver
Silver Interval (in oz./
Hole No. From To Interval (in g/t) (in feet) ton)
Cerro Block Extension
BER-177 11 22 11 48 36.1 1.4
BER-178 17 46 29 72 95.1 2.1
and 54 60 6 107 19.7 3.1
BER-179 57 82 25 146 82.0 4.3
BER-180 15 34 19 162 62.3 4.7
incl. 19 28 9 286 29.5 8.3
BER-181 35 42 7 120 23.0 3.5
BER-182 5 31 26 41 85.3 1.2
and 51 91 40 50 131.2 1.5
BER-183 30 63 33 66 108.3 1.9
incl. 54 58 4 224 13.1 6.5
BER-184 0 5 5 81 16.4 2.4
and 12 35 23 142 75.5 4.1
incl. 12 20 8 255 26.2 7.4
Burton Block
BER-185 1 68 67 129 219.8 3.8
incl. 28 54 26 220 85.3 6.4
BER-186 4 23 19 157 68.9 4.6
BER-187 23 28 5 58 16.4 1.7
and 64 72 8 199 26.2 5.8
and 85 89 3 196 9.8 5.7
BER-188 29 130 101 92 331.4 2.7
BER-189 0 10 10 90 32.8 2.6
BER-190 0 54 54 90 177.2 2.6
incl. 0 21 21 102 68.9 3.0
incl. 27 39 12 69 39.4 2.0
incl. 43 54 11 164 36.1 4.8
BER-191 1 31 30 55 98.4 1.6
43 113 70 90 229.7 2.6
incl. 99 113 14 212 45.9 6.2
BER-192 0 92 92 49 301.8 1.4
BER-193 1 41 40 170 131.2 5.0
incl. 15 25 10 472 32.8 13.8
incl. 15 17 2 1,303 6.6 38.0


(i) 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.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Silver Standard Resources Inc.
    Robert A. Quartermain
    President
    (604) 689-3846
    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