Resources Inc. Announces the Appointment of John Smith as President and Chief
VANCOUVER, BRITISH COLUMBIA, May 26, 2010 (Marketwire via COMTEX
News Network) -- The Board of Directors of Silver Standard
(TSX:SSO)(NASDAQ:SSRI) is very pleased to announce the appointment of John
Smith as Chief Executive Officer of the company, effective August 6, 2010.
Mike Anglin will continue to be Interim President and Chief Executive Officer
until that time, when he will revert to his previous role as director.
Mr. Smith, age 53, has over 30 years of varied experience in the
resources industry. He started his career in the North Sea oil industry and
has spent the last 18 years with BHPBilliton, most recently as Vice
President, Resourcing and Development, based in Melbourne, Australia. He has
worked in various operational, strategic, M&A, and commercial functions
within BHPBilliton, including over three years as CEO of the BHPBilliton
Mitsubishi Alliance, which operates one of the world's largest coal
operations in the Bowen Basin of Queensland, consisting of nine mines, a
port, and 4,000 employees. Under his leadership, four of the mines completed
significant expansion projects, one new mine was brought into operation, and
a tenth mine was developed to within a year of production. He has a BA,
Commerce degree from Robert Gordon University in Aberdeen, Scotland, and an
MBA with Distinction from Aberdeen University.
Peter Tomsett, Chairman of Silver Standard, said, "After
conducting an extensive international search, we are delighted to have such a
seasoned executive as John join us as CEO at this exciting stage in the
company's development. As we continue to move from exploration into a
substantial operating and development company, we believe John has the ideal
credentials to successfully lead us to the next level of performance. His
broad international industry skills, and outstanding track record of success
over many years will stand us in good stead as we strive to deliver value to
our shareholders from our project portfolio."
John Smith commented, "I am very pleased to have the
opportunity to lead Silver Standard at this important time. The company has
an excellent portfolio of projects and a highly skilled and enthusiastic
group of employees that together are capable of taking the company to the
next level. My goal will be to flawlessly execute our strategy by delivering
full value from our resource base, while continuing to look for additional
accretive growth opportunities."
Cautionary Statements on Forward Looking Information: Statements
in this news release are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and forward looking
information within Canadian securities laws ("Forward-looking
statements"). Forward-looking statements are statements that are not
historical facts and that are subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially from those
reflected in the forward-looking statements. Such risks and uncertainties
include, but are not limited to: the company's ability to raise sufficient
capital to fund development; changes in economic conditions or financial
markets; changes in prices for the company's mineral products or increases in
input costs; uncertainty of production cost estimates for the Pirquitas Mine;
risks and uncertainties associated with new mining operations, including
start-up delays and operational issues; risks relating to the interpretation
of drill results and the geology, grade and continuity of our mineral
deposits; litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments in Argentina, Australia,
Canada, Chile, Mexico, Peru, the United States and other jurisdictions in
which the company may carry on business; technological and operational
difficulties or the delay, non-compliance or inability to obtain permits
encountered in connection with exploration and development activities; labour
relations matters; and changing foreign exchange rates, all of which are
described more fully in the company's most recent Form 20-F, and in the
Management Discussion and Analysis under the heading "Risks and
Uncertainties" and in other filings with the Securities and Exchange
Commission and Canadian regulatory authorities.
Source: Silver Standard Resources Inc.
SOURCE: Silver Standard Resources Inc.
Silver Standard Resources Inc.
A. E. Michael Anglin
President and CEO
(604) 689-3846 or N.A. Toll Free: 1-888-338-0046
(604) 689-3847 (FAX)