BRUCESIDE (SULPHURETS)

Silver Standard has acquired Barrick's 20% direct interest in the Manantial Espejo property in Argentina for 400,000 common shares. Silver Standard has also entered into an agreement with Black Hawk Mining for Black Hawk to acquire half of Silver Standard's direct interest in Manantial in exchange for its 40% direct interest in the Bruceside project in British Columbia. Silver Standard will also have to pay Black Hawk a CDN$125,000 cash payment as part of the deal. After the transaction, Silver Standard will have a 100% interest in Bruceside, and will retain a 10% direct interest in Manantial and hold an option to acquire an additional 40% from Black Hawk. Both properties are gold and silver in vein deposits.

Final results of an 7,351.5 m, 20 hole, core drilling program indicated that testing of Tommy Knocker, West and Zones at depth and an up dip portion of the West-R8 Zone had intersected significant mineralization, including 13.5 m of 8.74 g/t gold (S94-460) and similar results from West-R8. Testing of Gossan Hill, Big Sheep, Grace, Coogan's Bluff, Bielecki and Shore Zones at depth failed to cut interesting mineralization.

Final results of an 7,351.5 m, 20 hole, core drilling program indicated that testing of Tommy Knocker, West and Zones at depth and an up dip portion of the West-R8 Zone had intersected significant mineralization, including 13.5 m of 8.74 g/t gold (S94-460) and similar results from West-R8. Testing of Gossan Hill, Big Sheep, Grace, Coogan's Bluff, Bielecki and Shore Zones at depth failed to cut interesting mineralization.