Day: February 25, 2016

Paul Benson, President and CEO said, “This was a quarter and a year of records for Silver Standard. Marigold exceeded our improved production and cash cost guidance and produced over 207,000 ounces of gold, a record in the mine’s 28-year history. Pirquitas also performed at the top end of guidance, driving total production to over 350,000 gold equivalent ounces at cash costs 11% lower than in 2014. We continued to invest in our future and generated significant exploration success at Marigold while also advancing our option to earn into the Chinchillas project, a potential satellite deposit for Pirquitas. …”

Jim Williams, Chief Executive Officer of Arian, commented, “We are pleased to be making progress in rebuilding Arian, whilst remaining cognisant of the current low metal prices and the fact that investor sentiment towards the mining sector remains negative. With this in mind, we are initially concentrating our efforts on near-term and low-cost production opportunities, possibly through the leaching of tailings. Mining and metals markets operate in cycles and the current sentiment will change in time, as such we are also looking at projects with longer-term potential.”