Silver Standard to Buy Marigold Gold Mine for $275 Million

Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) announced plans to purchase the Nevada-based Marigold gold mine from subsidiaries of Goldcorp Inc. (TSX:G,NYSE:GG) and Barrick Gold Corp. (TSX:ABX,NYSE:ABX) for $275 million.

Investment highlights include:

• Provides immediate positive cash flow from a mine in a prolific gold-silver region;
• Adds growth from an accretive transaction to create a multi-mine precious metals producer;
• Maintains financial capacity to advance internal growth projects;
• Improves our operating and political risk profile;
• Adds to experienced and professional operating team;
• Leverages our open-pit operating capabilities;
• Adds long-lived reserves from an operationally stable, productive mine; and
• Preserves shareholder exposure to silver and adds exposure to gold.

Click here to read the full Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) press release.