Silver Standard Resources Inc.
TSX : SSO
NASDAQ : SSRI

Silver Standard Resources Inc.

June 05, 2006 07:45 ET

Silver Standard Intersects Significant New Mineralized Zone at Breccia Ridge, Pitarrilla Silver Project in Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 5, 2006) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to report that the company's first deep drill hole in the Breccia Ridge Zone has expanded it to the east by over 200 meters and has potential to significantly increase the project resource. Hole PD-128 intersected mineralization over 1,647 feet that averaged 1.8 ounces of silver per ton with increasing base metal values at depth.

Within PD-128's mineralized interval, highlights include:

- 636.8 feet averaging 2.4 ounces of silver per ton (194.1 meters averaging 81.9 grams of silver per tonne;

- 199.0 feet averaging 3.3 ounces of silver per ton (60.6 meters averaging 111.8 grams of silver per tonne), 1.11% zinc and 0.48% lead;

- 136.5 feet averaging 0.6 ounces of silver per ton (41.6 meters averaging 20.4 grams of silver per tonne) and 3.23% zinc;

- 151.4 feet of 2.1 ounces of silver per ton (46.1 meters of 72.8 grams of silver per tonne), 0.77% zinc, 0.40% lead and 0.10% copper.

- The hole ended in mineralization.

PD-128 indicates that the expanded mineralized zone at Breccia Ridge has significant exploration potential in all directions and at depth, similar to all other major Mexican silver districts. Additional holes are being drilled around PD-128 to further test the extent of mineralization at Breccia Ridge. Three rigs are presently drilling on the property.

In addition to the deep hole on the east side of the Breccia Ridge Zone, Silver Standard reports the results of other infill drilling in the zone. Highlights of these holes include:

- PD-97, collared 200 meters to the west of PD-128, intersected 150.0 feet averaging 3.8 ounces of silver per ton (45.7 meters averaging 129.8 grams of silver per tonne).

- PD-108, collared 280 meters to the south of PD-128, intersected two mineralized zones, the first with 134.0 feet averaging 3.3 ounces of silver per ton (40.8 meters averaging 113.9 grams of silver per tonne) and the second with 205.0 feet averaging 2.4 ounces of silver per ton (62.5 meters averaging 80.6 grams of silver per tonne).

The wholly-owned project is located approximately 150 kilometers (90 miles) north of Durango City in the state of Durango. 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 Pitarrilla.
Silver Standard is a well-funded silver company that continues to seek resource growth through acquisitions, exploration and development of its own projects.

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.

Forward Looking Statements: Statements in this news release announcing the proposed offering and the anticipated use of proceeds are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including the need to negotiate an underwriting agreement with the managing underwriters and to satisfy the conditions set forth therein; the need to satisfy regulatory and legal requirements with respect to the proposed offering; risks related to the exploration stage of the company's projects; market fluctuations in prices for securities of exploration stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in gold prices; the possibility that Silver Standard may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's annual report on Form 20-F and Reports on Form 6-K filed with or furnished to the U.S. Securities and Exchange Commission. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.



Selected Pitarrilla Diamond Drilling Results - June 2006

Hole Collar Dip/ From To Interval
No. Location Azimuth (meters) (meters) (meters)
PD-89 503799E 80 degrees/ 185.9 198.2 12.3
245 degrees
2811250N 236.2 253.0 16.8
285.0 288.0 3.1
PD-93 503862E 70 degrees/ 118.9 144.8 25.9
245 degrees
2811208N 189.0 227.1 38.1
and 249.9 275.8 25.9
PD-97 503909E 70 degrees/ 37.8 70.1 32.3
245 degrees
2811101N 103.9 128.0 24.1
164.6 210.3 45.7
246.9 296.0 49.1
PD-101 504856E 80 degrees/ 4.6 13.7 9.2
245 degrees
2811033N 47.9 80.1 32.2
and 199.6 231.6 32.0
PD-105 504059E 60 degrees/ 128.0 149.4 21.3
245 degrees
2810946N 181.9 219.5 37.6
and 228.5 379.5 150.9
PD-108 504148E 50 degrees/ 131.1 171.9 40.8
245 degrees
2810849N 253.0 315.5 62.5
PD-113 503530E 50 degrees/ 207.3 224.0 16.8
065 degrees
2810996N
PD-128 504151E 80 degrees/ 221.9 723.9 502.0
245 degrees
2811127N 228.1 422.2 194.1
422.2 482.9 60.6
incl. 422.2 434.3 12.1
539.0 580.6 41.6
633.6 679.7 46.1
707.1 723.9 16.8


Hole Silver Interval Silver Zinc Lead
No. (g/t) (feet) (oz./ton) (%) (%)
PD-89 94.4 40.3 2.8
194.1 55.0 5.7 0.49 0.39
200.0 10.0 5.8 0.98 0.66
PD-93 62.6 85.0 1.8 1.48
111.6 125.0 3.3
113.2 85.0 3.3
PD-97 57.5 106.0 1.7
147.0 79.1 4.3
129.8 150.0 3.8
61.7 161.0 1.8
PD-101 66.1 30.0 1.9
37.3 105.6 1.1
48.0 105.0 1.4
PD-105 48.8 70.0 1.4
67.7 123.2 2.0
56.2 495.2 1.6
PD-108 113.9 134.0 3.3
80.6 205.0 2.4
PD-113 65.7 55.0 1.9

PD-128 63.4 1647.0 1.8
81.9 636.8 2.4
111.8 199.0 3.3 1.11 0.48
261.2 39.8 7.6 1.45 0.77
20.4 136.5 0.6 3.23
72.8 151.4 2.1 0.77 0.40
84.5 55.1 2.5 0.87 0.49


Notes: Intervals do not denote true thickness, which is 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 Pitarrilla 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 Chihuahua, Mexico (preparation) and Vancouver, B.C. (analysis). All samples were analyzed using three acid digestion with ICP finish. Samples over 100 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.

The TSX 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
    Direct: (604) 484-8212
    invest@silverstandard.com