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Silver Standard Reports 786 Feet of 0.05 Oz./Ton Gold From Snowfield Project in Canada

Wednesday November 22, 3:02 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Nov 22, 2006 -- Silver Standard Resources Inc. (TSX:SSO.TO - News)(NASDAQ:SSRI - News) is pleased to report remaining diamond drilling results from the Snowfield gold project in northern British Columbia. The property is located 40 kilometers north of the town of Stewart and 15 kilometers southeast of Barrick's high-grade gold-silver mine at Eskay Creek. The following table sets out assay results for the final seven holes of the 27 holes totalling 6,141 meters completed.
Drilling on 100-meter centers, with infill holes on 50-meter centers, outlined a rectangular area approximately 450 meters by 300 meters that is mineralized to depths in excess of 225 meters. Highlights in this set of results included:

- Drill hole SF-24 which intersected 786 feet of 0.05 ounces of gold per ton (239.5 meters of 1.63 grams of gold per tonne); and,

- Drill hole SF-23 which intersected 615.5 feet of 0.05 ounces of gold per ton (187.6 meters of 1.64 grams of gold per tonne).

Drilling through the entire program demonstrated continuity and grade consistency of the gold-molybdenum mineralization along strike and down-hole within the targeted zone. With complete assays for drilling this year, Silver Standard has initiated a resource estimate which it expects will be finalized before the end of the fourth quarter of this year. For earlier results, see the company's news releases dated September 25 and October 23, 2006. A surface plan, long section and cross-section are posted with the news release on the company's web site at www.silverstandard.com.

Gold-molybdenum mineralization at Snowfield occurs in a zone of pyritic quartz-sericite-chlorite schists that likely represent Jurrassic-age intermediate volcanic rocks. Seabridge Gold Inc. is currently testing gold-copper mineralization at the Mitchell Zone on its Kerr-Sulphurets project located approximately two kilometers northwest of the Snowfield project.

At this stage, Snowfield is a non-core Silver Standard project that is contiguous with the company's silver-gold Sulphurets project. Silver Standard believes that the Snowfield project holds considerable value that can be realized on completion of the additional infill and extension diamond drilling planned in 2007. Kenneth C. McNaughton, M.A.Sc., P.Eng., Vice President, Exploration, Silver Standard Resources Inc., is the qualified person responsible for the exploration program at Snowfield.

Silver Standard Resources Inc. is a well-financed silver resource company that continues to seek growth through silver acquisitions, and exploration and development of its own silver projects. (SSRI-SN)

SELECTED SNOWFIELD DRILLING RESULTS --- NOVEMBER 2006

Click link to view table:

http://biz.yahoo.com/iw/061122/0187555.html