Silver Standard completes US$250,000,000 convertible senior notes offering

  Silver Standard completes US$250,000,000 convertible senior notes offering

PR Newswire

VANCOUVER, Jan. 16, 2013

VANCOUVER, Jan.  16,  2013  /PRNewswire/  -  Silver  Standard  Resources  Inc. 
(NASDAQ: SSRI, TSX: SSO) ("Silver Standard" or the "Company") announced  today 
the closing of its previously  announced offering of US$250 million  aggregate 
principal  amount  of  2.875%  convertible  senior  notes  due  in  2033  (the 
"Notes"). The initial conversion rate for  the Notes is 50 common shares  per 
US$1,000 principal amount of  the Notes, equivalent  to an initial  conversion 
price of  US$20.00  per  common share.  The  Company  intends to  use  up  to 
approximately US$138 million of the net proceeds from the sale of the Notes to
repurchase or redeem  its existing  convertible notes  in March  2013 and  the 
remaining net  proceeds  for general  corporate  purposes, which  may  include 
developing or advancing its property portfolio.

Silver Standard has granted the initial  purchasers of the Notes an option  to 
purchase up to  an additional  US$37.5 million aggregate  principal amount  of 
Notes at any time on or before the 30th day after closing.

The Notes, and  the common shares  into which the  Notes are convertible  (the 
"Shares"), have not been and will not be registered under the U.S.  Securities 
Act of 1933, as amended (the  "Securities Act"), or qualified by a  prospectus 
in Canada. The Notes and the Shares may  not be offered or sold in the  United 
States absent registration under the Securities Act or an applicable exemption
from registration under  the Securities Act.  The Notes were  offered only  to 
"qualified institutional buyers" (as defined in Rule 144A under the Securities
Act) and outside  the United  States to  non-U.S. persons  in compliance  with 
Regulation S under the  Securities Act. Offers and  sales in Canada were  made 
only pursuant to  exemptions from  the prospectus  requirements of  applicable 
Canadian provincial securities laws.

This news release is neither an offer to sell nor the solicitation of an offer
to buy the Notes or any other securities and shall not constitute an offer  to 
sell or solicitation of an offer to buy, or a sale of, the Notes or any  other 
securities in any jurisdiction  in which such offer,  solicitation or sale  is 
unlawful.

Cautionary Notice Regarding Forward-Looking Statements:

Statements in  this news  release are  forward-looking statements  within  the 
meaning of  the U.S.  Private Securities  Litigation Reform  Act of  1995  and 
forward-looking information  within the  meaning of  Canadian securities  laws 
(collectively,  "forward-looking  statements").  All  statements,  other  than 
statements of  historical  fact, are  forward-looking  statements.  Generally, 
forward-looking statements can be  identified by the use  of words or  phrases 
such as "expects", "anticipates", "plans", projects", "estimates",  "assumes", 
"intends",  "strategy",  "goals",  "objectives",  "potential"  or   variations 
thereof, or stating that  certain actions, events  or results "may",  "could", 
"would", "might" or "will" be taken, occur or be achieved, or the negative  of 
any of these terms or  similar expressions. The forward-looking statements  in 
this news  release relate  to,  among other  things,  the anticipated  use  of 
proceeds. These forward-looking statements are  subject to a variety of  known 
and unknown risks,  uncertainties and  other factors that  could cause  actual 
events or results to differ from those expressed or implied. See the Company's
most recent Form 20-F filed with  the U.S. Securities and Exchange  Commission 
and Canadian  regulatory  authorities for  a  discussion of  other  risks  and 
uncertainties that may affect the Company's forward-looking statements.

The Company's  forward-looking  statements are  based  on what  the  Company's 
management considers to be  reasonable assumptions, beliefs, expectations  and 
opinions based on the information currently available to it. We cannot  assure 
you that actual events, performance or  results will be consistent with  these 
forward looking  statements,  and management's  assumptions  may prove  to  be 
incorrect.  The   Company's   forward-looking   statements   reflect   current 
expectations regarding future events and speak only as of the date hereof  and 
the  Company  does  not  assume  any  obligation  to  update   forward-looking 
statements if circumstances or management's beliefs, expectations or  opinions 
should change other than  as required by applicable  law. For the reasons  set 
forth  above,  you  should  not   place  undue  reliance  on   forward-looking 
statements.

SOURCE Silver Standard Resources Inc.

Contact:

Silver Standard Resources Inc.
Vancouver, B.C.
N.A. Toll Free: (888) 338-0046
All others: (604) 484-8216
E-mail:invest@silverstandard.com
 
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