the sale of the shafter property has been completed, and if aurcana does well in the next three years, sso can participate through a $10 million convertible debenture (6.6 million shares) as well as another 15 million shares.

Silver Standard Resources Inc.: Sale of Shafter Silver Project to Aurcana Closes

VANCOUVER, BRITISH COLUMBIA, Jul 17, 2008 (Marketwire via COMTEX News Network) -- Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to report the closing of the sale of the Shafter silver project in Presidio County, Texas, to Aurcana Corporation (TSX VENTURE:AUN).

Under the terms of the sale agreement, Aurcana has paid the company a total consideration of $42.6 million consisting of $23 million in cash, 15 million Aurcana common shares (at a deemed price of $0.64 per share) and a $10 million convertible debenture. The debenture has a 3% coupon with a three-year term and is convertible into 6.6 million Aurcana common shares at $1.515 per share.

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

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