DIABLILLOS

Silver Standard Resources reported an updated resource estimate for the wholly-owned Diablillos project located in the Province of Salta in northern Argentina. Indicated resource totals 21.6 million tonnes grading 0.922 g/t gold and 111 g/t silver, containing 640,000 oz. gold and 77.1 Moz. silver. Inferred resource totals 7.2 million tonnes grading 0.807 g/t gold and 27 g/t silver, containing 187,000 oz. gold and 6.3 Moz. silver.

Reported that planning is under way for a 15,000-metre drill program at the wholly owned Diablillos silver-gold property in Salta province in northern Argentina. Diamond drilling is expected to commence at Diablillos (which has an inferred resource of 93.8 million ounces of silver and 815,000 ounces of gold) in April, 2007.

Updating scoping studies. In July 2002, the company made a final US$900,000 payment to Pacific Rim Mining Corp. for its acquisition of this silver-gold project in northwestern Argentina. Based on the strong performance of the company’s shares in June, Silver Standard issued 142,970 common shares (at US$6.29 per share) to Pacific Rim to fulfil the final two payments under the terms of the agreement.