Silver Standard Resources Inc. announced 2012 production at the Pirquitas mine in Jujuy, Argentina. During 2012, the Pirquitas mine produced a record 8.6 million ounces of silver. The mine produced 2.3 million ounces of silver during the fourth quarter, 4.9% quarter-on-quarter improvement from 2.16 million ounces of silver produced for the third quarter of 2012, reflecting higher average silver recoveries in the plant and higher mill throughput. The mine also produced 3.2 million pounds of zinc in the fourth quarter, bringing total zinc production to 11.2 million pounds for the year, near the high-end of the 2012 zinc production guidance range. The company produced 2.77 million pounds of zinc in the third quarter of 2012. Approximately 417,000 tonnes of ore were milled at an average rate of 4,531 tonnes per day during the quarter compared to 404,000 tonnes of ore milled in the third quarter of 2012, 13% above the plant's nominal design. On an annual basis, the mill processed 4,433 tonnes per day during 2012. The company estimated production and cost guidance for 2013. The company expects to produce and sell 8.2 to 8.5 million ounces of silver and to produce over 20 million pounds of zinc. The company expects capital expenditures of $25 million at Pirquitas, including approximately $15 million for a tailings facility expansion but excluding capitalized stripping costs, expenditures of $15 million for exploration across the company's portfolio and expenditures of $17 million for development.

The company plans to spend approximately $15 million on exploration in 2013. Of this, approximately $7 million is budgeted for exploration at its Mexican projects, with the balance mainly budgeted for Argentina and Peru. The company may increase its exploration budget or redirect exploration spending in response to positive results. The company expects to spend a minimum of $17 million on development in 2013. Of this, approximately $8 million and $7 million will be incurred at the Pitarrilla and San Luis projects, respectively, in line with its goal of advancing these projects to construction decisions. Should construction decisions be made, development expenditures would increase significantly. Planned investments in advance of construction decisions include optimization, land acquisition, community agreements, permitting and financing.