VANCOUVER, Sept. 14, 2016 /CNW/ – Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) (“Silver Standard”) announces today that it has entered into a definitive agreement with Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) (“Endeavour Silver”) to sell 100% of its Parral properties in Chihuahua, Mexico, including the Veta Colorada, La Palmilla, and San Patricio properties (collectively, the “Parral properties”). Endeavour Silver is a mid-tier precious metals company with a track record of exploring for, developing and operating mines in Mexico.
Paul Benson, President and CEO of Silver Standard said, “The sale of these non-core properties demonstrates our focus on optimizing the portfolio and maximizing value from all of our assets. Through this transaction, we retain exposure to the success of the properties and, importantly, we are enabled to redirect capital elsewhere in our portfolio to continue generating value for our shareholders.”