Silver Standard Amends Prospectus

Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) has filed an amended and restated short form base shelf prospectus with the securities commissions in each of the provinces of Canada, other than Quebec, and a corresponding registration statement with the United States Securities and Exchange Commission under the U.S.-Canada multi-jurisdictional disclosure system.

These filings allow the company to make offerings of common shares to potential purchasers in each of the provinces of Canada, other than Quebec, and the United States for additional proceeds of up to US$200 million over the 25-month period beginning February 18, 2009, the filing date of the original base shelf prospectus. With the increase of US$200 million, the amended and restated base shelf prospectus now allows for proceeds of up to US$350 million in aggregate, which includes proceeds of US$149,999,993 from previously issued common shares.

Unless otherwise specified in any prospectus supplement to be filed in connection with a particular offering, the net proceeds from any offering under the base shelf prospectus will be used for the development of mineral properties, working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes.

A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

Posted Feb. 05.10

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