Silver Standard Intersects Bonanza Grades at Argentina Project

    VANCOUVER, British Columbia, Jan. 18 /PRNewswire/ -- Silver Standard
 Resources Inc. (Nasdaq:   SSRIF; Vancouver: SSO.) is pleased to report bonanza
 and very high-grade assays from recent drilling at the Manantial Espejo
 silver-gold project located in Santa Cruz province in southern Argentina.
 Eighteen (18) diamond drill holes totalling 1,024 metres were completed on the
 Maria Vein and two other targets in the western half of the 225 km2 project
 area.  All 14 of the Maria Vein holes intersected the high-grade silver-gold
 target over true widths ranging from 2.9 metres to 13.2 metres (6.2 feet to
 43.4 feet).
     The best results included T-116 which intersected 1,403.8 grams of
 silver-equivalent per tonne over a true width of 10.6 metres (or 40.9 ounces
 of silver-equivalent per ton over 34.7 feet); T-114 which intersected
 853.6 grams of silver-equivalent per tonne over a true width of 8.2 metres
 (or 24.9 ounces of silver-equivalent per ton over 26.9 feet); and T-110 which
 intersected 519.9 grams of silver-equivalent per tonne over a true width of
 13.2 metres (or 15.2 ounces of silver-equivalent per ton over 43.4 feet).
 Both T-116 and T-114 intersected bonanza mineralization with silver-equivalent
 grades of up to 2.7 kilograms per tonne over true widths of 5.2 metres or
 80.1 ounces per ton over 16.9 feet.
     The recent drilling confirms the continuity of mineralization within the
 Maria Vein and further detailed and infill drilling will lead to initiation of
 a full feasibility study.  Silver Standard believes the Maria Vein can form
 the basis for a high-grade underground mine complemented by limited production
 from surface mining of the vein system.  The Maria Vein is open along strike
 and at depth.
     The diamond drilling program at Manantial Espejo followed a three-month
 program of regional mapping and prospecting by two teams who covered
 approximately 60% of the 225 km2 project area.  During this program, company
 geologists discovered numerous new zones of potentially economic significance
 that require follow-up.  Four short holes were drilled on two prospects, with
 anomalous assay results.  The potential for discovery of additional high-grade
 zones similar to the Maria Vein is considered excellent.
     Manantial Espejo, accessible by road in a region of recently discovered
 epithermal silver-gold mineralization, is located approximately 100 kilometres
 west-southwest of the new Cerro Vanguardia Mine with production of
 200,000 ounces of gold and 1.6 million ounces of silver annually.  Based on
 block and polygonal resource calculations prior to the completion of Silver
 Standard's drilling, the Manantial Espejo project is estimated to host
 reserves and resources in all categories totalling 7.9 million tonnes grading
 191 grams of silver and 2.87 grams of gold per tonne.  Using a 1:55
 gold:silver ratio, the Manantial Espejo project contains a preliminary
 resource of 88.6 million ounces of silver-equivalent.  Silver Standard's
 equity share of the resource will exceed 35 million ounces of
 silver-equivalent on completion of its earn-in.
     Silver Standard has an option to acquire 50% of Black Hawk Mining Inc.'s
 share in the Manantial Espejo project.  It is currently held by a wholly owned
 subsidiary of Black Hawk Mining Inc. (80%) and Barrick Gold Corporation (20%).
 On completion of a feasibility study, Barrick must elect to either sell its
 20% interest to Black Hawk's subsidiary or increase its interest to 40%, based
 on predetermined prices.
     Silver Standard Resources Inc. is a silver resource company with
 exploration projects in Australia, Argentina, Bolivia, the United States,
 Mexico and Peru.  Silver Standard's advanced projects, owned and under option,
 have a combined total exceeding 100 million ounces of silver and
 silver-equivalent resources.
     A longitudinal section of the Maria Vein, showing the location and values
 of recent drill holes, is available by fax on request.  Call Investor
 Relations at 604-689-3846.
     To receive Silver Standard's news releases by e-mail, contact Investor
 Relations at invest@silver-standard.com, or sign up at the company's web
 site at http://www.silver-standard.com.
     The Vancouver Stock Exchange has neither approved nor disapproved of the
 information contained herein.  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 Diamond Drill Results
                Manantial Espejo Silver-Gold Project, Argentina
 
     Drill   From    To    True   Gold  Silver   Silver   True     Silver
     Hole    (m)     (m)   Width  (g/t) (g/t) Equivalent  Width Equivalent
                            (m)                  (55:1)   (feet)   (55:1)
                                                 (g/t)            (oz/ton)
 
                                   Maria Vein
 
     T-105   88.1    92.5   4.3   1.54   178.6    263.3    14.2     7.7
     T-106   29.1    33.7   4.5   3.39   224.0    410.4    14.9    12.0
     T-107   32.3    35.3   2.9   1.16   150.1    213.9     9.5     6.2
     T-108   58.3    61.8   3.5   0.28    89.4    104.8    11.4     3.1
     T-109   96.3   101.2   4.8   8.58   285.5    757.4    15.7    22.1
     T-110   25.7    39.4  13.2   0.81   475.4    519.9    43.4    15.2
     incl.   35.4    39.4   3.9   1.96   852.3    960.1    12.7    28.0
     T-111   75.5    81.1   5.2   9.32   378.8    891.4    17.1    26.0
     T-112   14.3    24.1   9.8   0.82   240.0    285.1    32.2     8.3
     T-113   28.3    32.0   3.6   3.10    58.6    229.1    11.9     6.7
     T-114   16.1    24.6   8.2  11.74   207.9    853.6    26.9    24.9
     incl.   20.8    24.6   3.7  25.35   306.2  1,700.5    12.0    49.6
     T-115   58.3    70.9  11.4   5.08   204.5    483.9    37.5    14.1
     T-116   11.0    22.1  10.6  19.84   312.6  1,403.8    34.7    40.9
     incl.   15.5    20.9   5.2  40.08   540.2  2,744.8    16.9    80.1
     T-117   39.0    44.0   4.8  10.99   265.3    869.8    15.9    25.4
     T-118   42.1    46.4   4.2   2.54    87.3    227.0    13.6     6.6
     T-119   33.1    34.6   1.5   0.85     4.6     51.4     4.9     1.5
     T-120   22.0    24.0   2.0   0.19    19.5     30.0     6.6     0.9
     T-121   26.7    28.8   2.0   0.30     1.1     17.6     6.6     0.5
     T-122   17.4    18.8   1.4   0.01    50.4     51.0     4.6     1.5
 
 

SOURCE  Silver Standard Resources Inc.