Silver Standard Resources Inc. (SSRI) Trade Alert – SSRI's Diamond Drilling at Snowfield outlines New Gold-Copper Zone

Silver Standard Resources Inc. (SSRI) shares closed yesterday at $10.51, up 21.93% from the previous close of $8.62. Silver Standard engages in the acquisition, exploration and development of mineral resource properties, primarily silver, gold and copper in Argentina, Australia, Canada, Chile, Mexico, Peru and the United States.

The company recently announced the recent diamond drilling at its wholly owned Snowfield project has outlined a new gold-copper zone. Located 40 kilometers north of the town of Stewart in northern British Columbia and 15 kilometers southeast of Barrick's high-grade gold-silver mine at Eskay Creek, the Snowfield property measures approximately 700 meters by 800 meters and lies 500 meters east of Seabridge Gold's Mitchell Deposit. The company's 2008 Snowfield program comprised 16,945 meters of diamond drilling in 31 holes.

Silver Standard also announced it will release its third quarter 2008 financial results before the market opens Wednesday, November 5, 2008. A conference call with management to review third quarter 2008 financial results and project activities is also scheduled on the same day.

The company owns 100% interests in the Pirquitas project located in the Province of Jujuy, Argentina; Pitarrilla project in Durango State, Mexico; Snowfield project in British Columbia, Canada; and Diablillos project in Salta Province, Argentina, as well as holds a 55% interest in the San Luis project in the Ancash Department, Peru.

It also owns 100% interests in the Berenguela project in Peru; Challacollo project in Chile; Candelaria mine in west central Nevada; Bowdens project in Australia; Silvertip project in northern Canada; Sulphurets project in Canada; Sunrise Lake deposit in the Northwest Territories, Canada; and Veta Colorada project in Mexico, as well as a 55% interest in the Maverick Springs project in northern Nevada.

In addition, the company holds 100% interests in the San Agustin property in Durango State, Mexico; and San Marcial project in Mexico, as well as has interests in the Duthie and Silver Standard Mine properties.

It has a strategic alliance with Minco Silver Corp. to pursue silver opportunities in China.

In today's daily chart, SSRI's MACD reflects a weak bullish signal, with the indicator trending above the 9-day moving average signal line but still below the 0 level, indicating bearish moving averages. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. With share prices currently above the stock's 13-day moving average, a bullish trend is generally indicated.