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Silver Standard Completes Marigold Mine Acquisition

April 4, 2014

VANCOUVER, April 4, 2014 /PRNewswire/ – Silver Standard Resources Inc. (NASDAQ:
SSRI) (TSX: SSO) (“Silver Standard”) announces the closing of the
purchase of the Marigold mine (“Marigold”) from subsidiaries of
Goldcorp Inc. (NYSE: GG) and Barrick Gold Corporation (NYSE: ABX),
previously announced on February 3, 2014. Marigold is a large scale,
producing open pit gold mine in Nevada, USA. Total cash consideration
paid at closing was $275 million. The purchase agreement includes
adjustments for working capital and capital expenditures that will be
received or paid within 60 days of closing. Total cash consideration
paid for the acquisition was funded from Silver Standard’s cash
balance.

“Firstly, we welcome the experienced team at Marigold into Silver
Standard,” said John Smith, President and CEO. “This acquisition
expands both our capacity and capability, positioning Silver Standard
as a multi-mine producer with the ability to fund continued growth.”

“Our thanks to Goldcorp and Barrick for enabling our integration team to
be on the ground working with the Marigold team since the acquisition
was announced in February. This cooperation has allowed for a smooth
transition of people and the business. Post-closing, our focus is on
fully integrating Marigold and implementing a new mine plan to deliver
safe production at a lower cost structure.”

Silver Standard will disclose 2014 production and cost guidance for
Marigold with our first quarter 2014 report and will commence reporting
Marigold operating and production information with our second quarter
2014 report.

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”) concerning
the Marigold mine transaction, the anticipated developments in our
operations in future periods, our planned exploration activities, the
adequacy of our financial resources, and other events or conditions
that may occur or exist in the future. These statements relate to
analyses and other information that are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions of
management. 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. These forward-looking statements are
subject to a variety of risks, uncertainties and other factors that
could cause actual events or results to differ from those expressed or
implied, including, without limitation, risks and uncertainties related
to: production, development plans and cost estimates for our material
properties; future exploration and development; Mineral Reserves and
Mineral Resources estimates and our ability to extract mineralization
profitably and replace our Mineral Reserves; our ability to complete
and successfully integrate an announced acquisition, including Marigold
mine acquisition; our ability to obtain adequate financing;
fluctuations in exchange rates and in spot and forward prices for
silver, gold and base metals and certain other commodities;
counterparty and market risks related to the sale of our concentrates;
political, financial, social, legal or economic developments or changes
in any of the countries where we carry on business; compliance with
governmental laws and regulations, including health, safety and
environmental laws and regulations; title to our mineral properties and
the surface rights thereon; competition in the mining industry and our
ability to access mining services, properties, equipment, qualified
personnel and management; regulatory compliance costs; claims and legal
proceedings, including adverse rulings in current or future litigation;
the terms of our outstanding convertible notes; and those other various
risks and uncertainties identified under the heading “Risk Factors” in
our most recent Form 40-F and Annual Information Form filed with the
U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities.

Our forward-looking statements are based on what management currently
considers to be reasonable assumptions, beliefs, expectations and
opinions and we cannot assure you that actual events, performance or
results will be consistent with these forward-looking statements.
Assumptions have been made regarding, among other things, the discovery
of Mineral Reserves and Mineral Resources on our mineral properties,
the costs of operating and exploration expenditures and those other
assumptions identified under the heading “Introductory Notes -
Cautionary Notice Regarding Forward Looking Statements” in our most
recent Form 40-F and Annual Information Form. Our forward-looking
statements reflect current expectations regarding future events and
operating performance and we do not assume any obligation to update
forward-looking statements if circumstances or management’s 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
statements.

W. John DeCooman, Jr.
Vice President, Business Development and Strategy
Silver Standard Resources Inc.
Vancouver, B.C.
N.A. toll-free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@silverstandard.com 

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SOURCE Silver Standard Resources Inc.


Source: PR Newswire



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