Silver Standard Receives Final Cash Payment for the Sale of the San Agustin Project

VANCOUVER, May 5, 2015 /PRNewswire/ - Silver Standard Resources Inc. SSRI SSO ("Silver Standard") has received the final cash payment in the amount of $20 million from the sale of the San Agustin project in Durango, Mexico ("San Agustin") to Argonaut Gold Inc., which was completed in December 2013. As part of the consideration, Silver Standard retains a 2% net smelter return royalty on sulphide ore produced from San Agustin.

"We continue to generate cash from our portfolio and add to our strong cash balance at a critical point in the resource cycle," said John Smith, President and CEO.  "As we move into the second quarter of 2015, this cash payment enhances our liquidity and positions Silver Standard for near-term growth."

This transaction was previously announced in a news release dated November 5, 2013.

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SOURCE Silver Standard Resources Inc.