Silver Standard expands zone at Pitarrilla (April 10, 2006)

Vancouver – Three recent holes drilled by Silver Standard Resources (SSO-T, SSRI-Q) have expanded the South Ridge zone at the Pitarrilla silver project in Mexico, with the best hole intersecting 515 feet averaging 6.5 oz. silver per ton (223 grams over 155 metres) starting at surface.

An angled hole collared on the same coordinates as the aforementioned vertical hole intersected three mineralized intervals, with the best returning 260.8 feet averaging 3.8 oz. silver per ton (79.5 metres averaging 130.2 grams). The others were a 48.3-foot interval grading 2.2 oz. silver (14.7 metres of 74.4 grams) and a 115-foot interval averaging 1.4 oz. silver (35.1 metres of 48.9 grams).

A vertical hole drilled about 50 metres south of the previous two holes intersected 335 feet averaging 5.1 oz. silver (102.1 meres averaging 174.8 grams), starting from surface, and including 200 feet averaging 7.7 oz. silver (61 metres averaging 262.9 grams).

Silver Standard notes that these three holes indicate potential to expand known mineralization to the north, and represent (in total) a 100-metres step-out that is not included in resource estimates for the project. In early March, the company reported that Pitarrilla hosted an indicated resource of 18.6 million tonnes grading 112.4 grams silver per tonne (3.3 oz. per ton), plus an inferred resource of 32.4 million tonnes of 124.8 grams silver (3.6 oz.), based on a cutoff grade of 40 grams silver per tonne.

Drilling is continuing on the property, with three rigs turning. The South Ridge zone is open for expansion, while drilling at the Breccia Ridge zone is expected to lead to a resource estimate for this zone.

Pitarrilla is one of three advanced silver projects held by the company. The others are the Pirquitas project in Jujuy Province, Argentina, and the Bowdens project in Australia. The company also holds a large portfolio of silver exploration and development projects in known silver districts of the world.