Silver Standard

"Silver Standard Files NI 62-103 Report in Connection With Its Sale of the Snowfield and Brucejack Projects

(live-PR.com) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/23/10 -- Silver Standard Resources Inc. ("Silver Standard") announced on December 21, 2010 that it completed the sale of the Snowfield and Brucejack projects and related assets (together the "Combined Project Assets") in northern British Columbia to Pretium Resources Inc. ("Pretium"). Silver Standard is issuing this news release to provide additional information in accordance with National Instrument 62-103.

On December 21, 2010, in partial consideration for the sale (the "Snowfield Brucejack Sale") of the Combined Project Assets to Pretium, Silver Standard acquired ownership of an aggregate of 32,537,833 common shares in the capital of Pretium (the "Pretium Shares"), representing 41.3% of the issued and outstanding Pretium Shares on an undiluted basis.

Silver Standard also received a convertible promissory note in the principal amount of C$39.753 million. The outstanding amount of the convertible promissory note will be automatically converted into Pretium Shares at $6.00 per Pretium Share 40 days after the closing of the Snowfield Brucejack Sale to the extent not previously repaid by Pretium. If the promissory note is repaid in full, Silver Standard will hold a 38.1% equity interest in Pretium. If the promissory note is fully converted, Silver Standard will hold a 45.8% equity interest in Pretium.

Silver Standard and Pretium entered into an investor rights agreement (the "Investor Rights Agreement") on December 21, 2010, which provides that, as long as Silver Standard and its affiliates hold at least 10% of the issued and outstanding Pretium Shares: