Last updated on April 24, 2014 at 21:24 EDT

Silver Standard Provides Option Purchase Notice and Notice of Convertibility of Its 4.5% Convertible Senior Notes Due 2028

February 5, 2013

VANCOUVER, Feb. 4, 2013 /PRNewswire/ – Silver Standard Resources Inc. (“Silver
Standard” or the “Company”) (NASDAQ: SSRI, TSX: SSO) announces that in
accordance with the terms of the indenture governing the Company’s 4.5%
Convertible Senior Notes due 2028 (“Notes”), the Company has issued an
option purchase notice to the holders of the Notes advising of their
rights to require the Company to purchase the Notes at 100% of the
principal amount on March 1, 2013.  The Company has also notified the
holders of the Notes of their rights to alternatively surrender the
Notes for conversion until the close of business on February 28, 2013. 
The Notes may be converted under the provisions of the indenture
regarding conversion during specified periods at the applicable
conversion price, which is currently $43.33 per share.

To convert a Note, a holder must (1) complete and sign a conversion
notice, with appropriate signature guarantee, on the back of the Note,
(2) surrender the Note to The Bank of New York Mellon, as conversion
agent, (3) furnish appropriate endorsements and transfer documents if
required by The Bank of New York Mellon, (4) pay the amount of
interest, if any, the Holder must pay in accordance with the indenture
governing the Notes, and (5) pay any tax or duty if required pursuant
to the indenture governing the Notes.  A holder of Notes may convert a
portion of a Note if the portion is $1,000 principal amount or an
integral multiple of $1,000 principal amount.

The address of The Bank of New York Mellon is:

Corporate Trust Department
Reorganization Unit
111 Sanders Creek Parkway
East Syracuse, NY  13057
Attn: Adam DeCapio

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using the Silver Standard website at www.silverstandard.com.

SOURCE Silver Standard Resources Inc.

Source: PR Newswire