Silver Standard Resources Inc. (TSX: SSO.TO)(NASDAQ: SSRI ) ("Silver Standard" or the "Company") announced today that, further to the Company's January 12, 2012 news release, it has committed an additional 6,000 tonnes of silver concentrate (containing approximately 3.2 million ounces of silver) under spot sales contracts with various trading counterparties. These tonnes are expected to be delivered in the first half of 2012.

Of the previously announced 2,000 tonnes of silver concentrate for delivery by January 2012, a total of 1,000 tonnes of silver concentrate (containing approximately 0.5 million ounces of silver) will be recognized as revenue in the fourth quarter of 2011.

"This significant progress is in line with our strategy to sell concentrate on a spot basis while negotiations for long-term contracts advance with several counterparties," said John Smith, President and CEO. "The bulk of our year-end silver concentrate inventory will be sold through spot contracts during a period of strengthening silver prices."