SSRIF Silver Standard Resources Message Board

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Gold/Mining/Energy : SSRIF Silver Standard Resources

SSO 89.77

+1.8%

Oct 8 4:00 PM EDT

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To: Stephen O who wrote (400)	5/2/2001 5:51:42 PM
From: Stephen O	Read Replies (1) of 403

VANCOUVER (Dow Jones)--Silver Standard Resources Inc. (SSRI) has signed an agreement with a unit of Barrick Gold Corp. (ABX) to purchase Barrick's 20% direct interest in the Manantial Espejo silver-gold project in southern Argentina. In a press release, Silver Standard said it will issue 400,000 common shares to Barrick for the 20% interest. Silver Standard said that under the agreement, it will defer the payment of a royalty of $5 an ounce of gold and 6 cents an ounce of silver, formerly due to be paid to Barrick on completion of a final feasibility study on the project, to the start of commercial production. It said Barrick will retain a 3% royalty on certain gold and silver claims discovered in addition to that identified at the time of production. Silver Standard said the agreement, which is scheduled to close within a month, is subject to regulatory approvals. Black Hawk Mining Inc. (T.BHK) owns the remaining 80% interest in the project. Silver Standard said it is earning a 50% stake in Black Hawk's interest under a 1998 agreement. Barrick, Silver Standard and Black Hawk are mining companies.

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