Last updated on April 20, 2014 at 8:28 EDT

Silver Standard provides Q3 2013 operational results

October 9, 2013

VANCOUVER, Oct. 9, 2013 /PRNewswire/ – Silver Standard Resources Inc. (NASDAQ:
SSRI) (TSX: SSO) (the “Company”) provides its third quarter 2013
operational update for the Pirquitas Mine in Jujuy, Argentina.

Third Quarter 2013 Operating Highlights:

        --  Delivered consistent silver production and sales:  Produced and
            sold 2.0 million ounces of silver.

        --  Produced record 7.8 million pounds of zinc: Third quarter zinc
            production represented a 40% quarter-on-quarter improvement due
            to higher zinc grades and plant recoveries.

        --  Focused on operating performance:  Managed operating variation
            from blended ore mix to achieve stable silver recoveries and
            mill throughput of 4,283 tonnes per day, on average, 7% above
            nominal design.

“Pirquitas continues to advance through the pit phase transition and the
production result for this quarter was achieved notwithstanding ore
blend variety presented to the plant,” said John Smith, President and
CEO. “At this point in the economic cycle, reducing costs and driving
margin is the priority at Pirquitas. Therefore, achieving this
production result, given the cost priority, underlines the
determination to drive performance at the Mine.”

Summary of Mine Operating Statistics

    |                                |        |Q3 2013|Q2 2013|% Change|
    |Total material mined            |    Kt  |  4,465|  4,471|  (0.1%)|
    |Ore milled                      |    Kt  |    394|    365|    7.9%|
    |Silver mill feed grade          |   g/t  |    215|    216|  (0.5%)|
    |Zinc mill feed grade            |     %  |   1.91|   1.53|   24.8%|
    |Silver recovery                 |     %  |   74.6|   74.8|  (0.3%)|
    |Zinc recovery (zinc concentrate)|     %  |     47|     46|    2.2%|
    |Silver produced                 |'000 oz |  2,028|  1,890|    7.3%|
    |Zinc produced (zinc concentrate)|'000 lbs|  7,818|  5,589|   39.9%|
    |Silver sold                     |'000 oz |  1,969|  2,207| (10.8%)|
    |Zinc sold (zinc concentrate)    |'000 lbs|  4,952|  2,217|  123.4%|

Note: Percent changes are calculated using the rounded numbers presented

Mine Operations

The Pirquitas Mine produced 2.0 million ounces of silver during the
third quarter of 2013, higher than the 1.9 million ounces produced in
the second quarter of 2013. The increase in silver production reflects
planned higher tonnage through the mill. In the first three quarters of
2013, the Mine produced 5.9 million ounces of silver. During the third
quarter, the Company sold 2.0 million ounces of silver, in line with

The Mine also produced 7.8 million pounds of zinc in zinc concentrate in
the third quarter, a 40% quarter-on-quarter improvement and the highest
quarterly zinc production result in the history of the Mine to date.
This record zinc production reflects higher zinc grades, as the Company
mined more of the zinc-rich Potosi area of the San Miguel open pit,
combined with improved recoveries.

Approximately 394,000 tonnes of ore were milled during the third quarter
of 2013, compared to 365,000 tonnes in the second quarter of 2013. Ore
was milled at an average rate of 4,283 tonnes per day, 7% above the
mill’s nominal design. This compares to an average milling rate of
4,009 tonnes per day in the second quarter. Ore milled contained an
average silver grade of 215 g/t, compared to 216 g/t reported in the
second quarter. The average recovery rate for silver decreased
marginally to 74.6% from 74.8% in the previous quarter, mainly due to
more oxidized and transitional ore in the mill feed. As Phase 2 of the
San Miguel open pit deepens, the proportion of sulphide ore in the mill
feed is expected to increase.

Third Quarter Earnings Release

The Company plans to issue its third quarter earnings release on
Tuesday, November 5, 2013 after markets close.

Qualified Person

The scientific and technical data contained in this news release has
been reviewed and approved by the following Qualified Person (“QP”)
under National Instrument 43-101, who consents to having his name
included in this news release.

        --  Andrew W. Sharp, BEng., FAusIMM: Mr. Andrew W. Sharp, who has
            been employed by the Company as Vice President, Technical
            Services since September 2011, is the QP responsible for the
            technical content of this news release.

Cautionary Note Regarding Forward-Looking Statements:

Statements in this news release are forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and forward-looking information within the meaning of Canadian
securities laws (collectively, “forward-looking statements”). All
statements, other than statements of historical fact, are
forward-looking statements. Generally, forward-looking statements can
be identified by the use of words or phrases such as “expects,”
“anticipates,” “plans,” “projects,” “estimates,” “assumes,” “intends,”
“strategy,” “goals,” “objectives,” “potential” or variations thereof,
or stating that certain actions, events or results “may,” “could,”
“would,” “might” or “will” be taken, occur or be achieved, or the
negative of any of these terms or similar expressions. The
forward-looking statements in this news release relate to the higher
grade material expected to be processed during Phase 2 of the San
Miguel open pit. These forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those
expressed or implied, including: uncertainty of production and cost
estimates for the Pirquitas Mine; future development risks, including
start-up delays and operational issues; lack of suitable infrastructure
or damage to existing infrastructure; increased costs and restrictions
on operations due to regulatory compliance, including in relation to
environmental laws and regulations; unpredictable risks and hazards
related to the development and operation of a mine or mine property
that are beyond our control; operational safety and security risks; and
political, financial, social, legal or economic developments or changes
in Argentina. See our most recent Form 40-F and Annual Information Form
filed with the U.S. Securities and Exchange Commission and Canadian
securities regulatory authorities for a discussion of other risks and
uncertainties that may affect our forward-looking statements.

Our forward-looking statements are based on what our management
considers to be reasonable assumptions, beliefs, expectations and
opinions based on the information currently available to it.
Assumptions have been made regarding, among other things: our ability
to carry on our various exploration and development activities; the
timely receipt of required approvals and permits; the price of the
minerals we produce; the costs of operating and exploration
expenditures; our ability to operate in a safe, efficient and effective
manner; our ability to obtain adequate financing as and when required
and on reasonable terms; and our ability to continue operating the
Pirquitas Mine. We cannot assure you that actual events, performance or
results will be consistent with these forward-looking statements, and
management’s assumptions may prove to be incorrect. Our forward-looking
statements reflect current expectations regarding future events and
operating performance and speak only as of the date hereof and we do
not assume any obligation to update forward-looking statements if
circumstances or management’s beliefs, expectations or opinions should
change other than as required by applicable law. For the reasons set
forth above, you should not place undue reliance on forward-looking

W. John DeCooman, Jr.
Vice President, Business Development and Strategy
Silver Standard Resources Inc.
Vancouver, B.C.
N.A. toll-free: (888) 338-0046
All others: (604) 689-3846
E-Mail: invest@silverstandard.com

To receive Silver Standard’s news releases by e-mail, please register using the Silver Standard website at www.silverstandard.com.

SOURCE Silver Standard Resources Inc.

Source: PR Newswire