VANCOUVER, BRITISH COLUMBIA--Silver Standard Resources Inc. reports a $1,505,080 private placement of 764,000 units at a price of $1.97 per unit, subject to Canadian Venture Exchange approval. Each unit consists of one common share and
one common share purchase warrant. Each warrant is exercisable on payment of $2.32 into one common share of Silver Standard for a period of two years. A finder's fee of 7.0% is payable in units and cash on a portion of the private placement.


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