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Gold/Mining/Energy : SSRIF Silver Standard Resources

SSO 116.71

+0.5%

Oct 31 5:00 PM EST

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To: Claude Cormier who wrote (344)	2/18/1999 8:05:00 PM
From: Gord Bolton	of 403

FOR: SILVER STANDARD RESOURCES INC. VSE SYMBOL: SSO NASDAQ SYMBOL: SSRIF FEBRUARY 18, 1999 Silver Standard Raises $1.65 Million in Private Placement VANCOUVER, BRITISH COLUMBIA--NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Silver Standard is pleased to report a $1.65 million private placement of 1.1 million units at a price of $1.50 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable on payment of $1.80 into one common share of Silver Standard for a period of one year. A finder's fee is payable in units. The private placement and finder's fee are subject to VSE approval. The new funds will enable Silver Standard to advance the feasibility study now under way at its 100 percent-owned Bowdens silver project in Australia and to continue exploration work on its option of the Manantial Espejo silver-gold project in southern Argentina. Silver Standard currently has 16,046,497 common shares issued and outstanding, and 17,680,797 common shares on a fully-diluted basis. Silver Standard is a significant silver resource company with development stage silver projects in Australia and Argentina, and silver exploration projects in Mexico, Bolivia and the United States. The company's share of silver-equivalent resources, owned and under option, exceeds 120 million ounces. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties which could cause actual results to vary considerably from these statements. The risks and uncertainties include those described in Silver Standard's Form 20F as amended. -30-

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