Sulphurets-Bruceside Property British Columbia Technical ...

Sulphurets-Bruceside Property British Columbia Technical Report

Prepared for Silver Standard Resources Inc. April 16, 2001 PAH Project No. 9814.00d

SULPHURETS-BRUCESIDE PROPERTY BRITISH COLUMBIA TECHNICAL REPORT

Prepared for

Silver Standard Resources Inc.

Prepared by

David R. Budinski, P. Geo Robert T. McKnight, P. Eng.

C. Stewart Wallis, P.G., P. Geo.

April 16, 2001 PAH Project No. 9814.00d

TABLE OF CONTENTS Section No. Page No.

Pincock, Allen & Holt i 9814.00d April 16, 2001

1.0 SUMMARY ............................................................................... 1

2.0 INTRODUCTION AND TERMS OF REFERENCE................ 3 2.1 General ........................................................................... 3 2.2 Terms and Definitions.................................................... 3 2.3 Units ............................................................................... 4 3.0 DISCLAIMER............................................................................ 5 4.0 PROPERTY DESCRIPTION AND LOCATION...................... 6 4.1 Location and Access....................................................... 6 4.2 Climate ........................................................................... 6 4.3 Local Resources and Infrastructure ................................ 6 4.4 Physiography .................................................................. 8 4.5 Project Ownership .......................................................... 8

4.6 Land Tenure ................................................................... 8 4.7 Permitting....................................................................... 11

5.0 HISTORY OF THE PROJECT.................................................. 12 6.0 GEOLOGIC SETTING .............................................................. 14 6.1 Regional Geologic Setting.............................................. 14 6.2 Property Geology............................................................ 14 7.0 DEPOSIT TYPE ........................................................................ 18 8.0 MINERALIZATION.................................................................. 19 8.1 West Zone ...................................................................... 19 8.2 Satellite Zones ................................................................ 22 9.0 PROJECT EXPLORATION ...................................................... 24 10.0 PROJECT DRILLING ............................................................... 25

TABLE OF CONTENTS Section No. Page No.

Pincock, Allen & Holt ii 9814.00d April 16, 2001

11.0 SAMPLING METHODOLOGY AND APPROACH................ 27 12.0 SAMPLE PREPARATION, ANALYSES, AND SECURITY.. 28 13.0 DATA VERIFICATION ............................................................ 29 14.0 ADJACENT PROPERTIES....................................................... 30

15.0 MINERAL PROCESSING AND METALLURGICAL TESTWORK .............................................................................. 31

16.0 MINERAL RESOURCES AND MINERAL RESERVE ESTIMATES.............................................................................. 32 16.1 West Zone Resource Estimates ...................................... 32 16.2 Resource Estimate of Other Zones................................. 35

16.3 Total Sulphurets-Bruceside Property Resource Estimate.......................................................................... 37

17.0 OTHER RELEVANT DATA .................................................... 39 18.0 INTERPRETATION AND CONCLUSIONS............................ 40 19.0 RECOMMENDATIONS ........................................................... 41 20.0 REFERENCES........................................................................... 42 21.0 ADDITIONAL REQUIREMENTS FOR TECHNICAL REPORTS

ON DEVELOPMENT PROPERTIES AND PRODUCTION PROPERTIES ............................................................................ 43

22.0 ILLUSTRATIONS ..................................................................... 44 23.0 CERTIFICATE OF QUALIFICATION..................................... 45

LIST OF TABLES Table No. Page No.

Pincock, Allen & Holt iii 9814.00d April 16, 2001

1-1 Sulphurets-Bruceside Property Combined Mineral Resources ..... 2 4-1 Sulphurets-Bruceside Property Claims List .................................. 10 16-1 Sulphurets-Bruceside Property WGM West Zone Resource

Estimate – Reclassified by PAH ................................................... 34 16-2 Sulphurets-Bruceside Property WGM West Zone Resource Estimate With Newhawk Mines Addition– Reclassified by PAH 35 16-3 Sulphurets-Bruceside Property Other Satellite Zone Resources –

Reclassified by PAH ..................................................................... 37 16-4 Sulphurets-Bruceside Property, Combined Mineral Resources .... 38

LIST OF FIGURES Figure No. Page No.

Pincock, Allen & Holt iv 9814.00d April 16, 2001

4-1 Sulphurets Property Location Map................................................ 7 4-2 Property Map................................................................................. 9 6-1 Regional Geology of the Stewart-Anyox Area.............................. 15 6-2 Sulphurets-Bruceside Property Geology ....................................... 16 8-1 West Zone, Vein Location Plan .................................................... 20 8-2 West Zone, Section 5080S ............................................................ 21

10-1 West/R8 Zone – Underground Workings...................................... 26

Pincock, Allen & Holt 1 9814.00d April 16, 2001

1.0 SUMMARY

Pincock, Allen & Holt Ltd. was retained by Silver Standard Resources Inc. to prepare an

independent Technical Report that meets the requirements of Canadian National Investment 43-

101 on the Sulphurets-Bruceside Property in British Columbia (BC). The Sulphurets-Bruceside

Property is located in northern BC, 900 kilometers from Vancouver. Access to the property is

by helicopter from the town of Stewart, 62 kilometers south-southeast of the property. Silver

Standard Resources owns a 60 percent interest in the Sulphurets-Bruceside Property as a result

of the acquisition of Newhawk Gold Mines Ltd in September 1999. Black Hawk Mining Inc.

owns the other 40 percent. The Sulphurets-Bruceside property consists of the Bruceside claim

group, with 28 recorded claims containing 146 claim units valid until January 31, 2010. There

are no holding-cost obligations to Silver Standard.

Esso, Granduc and Newhawk, who acquired their initial interest in 1984, actively explored the

property from the 1970s to 1994. Since then Newhawk carried out a series of exploration

programs that included mapping, trenching, sampling, underground development on the West

Zone, and both surface and underground diamond drilling. A feasibility study was completed in

1990.

The property is underlain by the Jurassic age Hazelton Group that consists of argillites, cherts,

andesitic pyroclastic tuffs and breccias intruded by Mid-Jurassic stocks of diorite to granite

composition. Mineralization is associated with a zone of intense quartz-sericite-pyrite alteration

that is 100 to 450 meters wide and 4.5 kilometers long. The West zone, which contains the bulk

of the known mineral resource, is a southwest-trending vein system consisting of ten individual

veins.

Based on the previous work by other independent consultants, the Sulphurets-Bruceside

Property contains a measured and indicated mineral resource of 1,135,800 tons averaging 0.371

ounces gold per ton and 15.1 ounces silver per ton, with an additional inferred mineral resource


of 151,300 tons at a grade of 0.542 ounces gold per ton and 5.0 ounces silver per ton. Based on

a Ag:Au equivalency ratio of 55:1, this amounts to a measured + indicated resource of 40.3

million ounces of silver-equivalent and an inferred resource of 5.2 million ounces of silver-

equivalent. The total resource is summarized in Table 1-1.

TABLE 1-1 Silver Standard Resources Inc. Sulphurets-Bruceside Property Combined Mineral Resources

Mineral Zone

Estimation Confidence Category

Tons Gold (opt)

Silver (opt)

AgEq (ounces)

West WGM-1990 Measured 144,000 0.485 19.1 6,600,000 West WGM1990+Newhawk1990 Indicated 899,500 0.353 15.5 31,400,000 Shore Newhawk-1989 Indicated 92,300 0.371 4.6 2,300,000 Subtotal Meas.+Ind. 1,135,800 0.371 15.1 40,300,000 West WGM-1990 Inferred 51,600 0.187 8.0 900,000 SG Newhawk-1993 Inferred 46,200 0.296 0.8 800,000 Galena Hill Newhawk-1993 Inferred 30,900 0.784 8.7 1,600,000 Gossan Hill Newhawk-1993 Inferred 22,600 1.522 2.0 1,900,000 Subtotal Inferred 151,300 0.542 5.0 5,200,000 Note: 1) PAH tabulated the resource silver equivalent ounces using an Ag:Au equivalency ratio of 55:1.

It is PAH’s opinion that the estimation of the mineral resources, as stated above, has been

prepared according to accepted industry standards using accepted practices and that the work

completed has been both thorough and as accurate as possible given the available database. It is

PAH’s opinion that the classification of measured, indicated and inferred mineral resources as

estimated herein, meets the definitions of measured, indicated and inferred mineral resources as

stated by NI 43-101 and defined by the CIM Standards on Mineral Resources and Reserves

Definitions and Guidelines adopted by the CIM council on August 20, 2000.

The Sulphurets-Bruceside property is considered to have the potential for additional resources

both at depth, in the veins explored to date, and in other targets that have yet to be fully

delineated. Because of the isolated location of the property, higher gold and silver prices are

required before further exploration programs can be recommended. Silver Standard has not

proposed a work program and budget for the current year.


2.0 INTRODUCTION AND TERMS OF REFERENCE

2.1 General

Pincock, Allen and Holt Ltd. (PAH), a division of Hart Crowser Inc., was retained by Silver

Standard Resources Inc. (Silver Standard or “the Company”) on January 12th, 2001 to undertake

separate independent Technical Reports to meet the requirements of National Instrument 43-

101, on five of its mineral properties. This report (“the Report”) covers the Sulphurets-

Bruceside property located in northwestern British Columbia in the Skeena Mining District.

This report for the Sulphurets-Bruceside property conforms to Form 43-101F1 for Technical

Reports.

2.2 Terms and Definitions

Silver Standard refers to Silver Standard Resources Inc. Newhawk Mines refers to Newhawk Gold Mines Ltd., which was acquired

by Silver Standard Corona refers to Corona Corporation CIM Standards means the CIM Standards on Minerals Resources and

Reserves adopted in August 2000. the Company refers to Silver Standard Resources Inc. PAH refers to Pincock Allen & Holt, independent mining

consultants the Report refers to this report prepared by PAH on the Sulphurets

Property the Sulphurets-Bruceside Property refers to interests in the Bruceside claim group in the

Sulphurets project area held by Silver Standard Resources Inc.


WGM refers to Watts Griffis and McOuat, Consulting Geologists and Engineers

2.3 Units

Previous reports on the property have used short tons and ounces to report the grade and

tonnage but otherwise metric units have been used. PAH has continued this practice for the

sake of continuity.

Dollars are Canadian unless stated otherwise.

opt troy ounces per short ton asl above sea level g grams ton short ton, equivalent to 2,000 pounds tonne metric tonne equivalent to 1,000 kilograms or approximately

2,204.62 pounds g/t Au grams gold per tonne g/t Ag grams silver per tonne meter metric distance measurement equivalent to approximately 3.27

feet kilometer 1,000 meters or approximately 0.62 statute miles AuEq gold equivalent of contained gold and silver AgEq silver equivalent of contained gold and silver


3.0 DISCLAIMER

This report was prepared for Silver Standard by the independent consulting firm of Pincock,

Allen & Holt and is based in part on information not within the control of either the Company

or PAH. While it is believed that the information contained herein will be reliable under the

conditions and subject to the limitations set forth herein, neither the Company nor PAH

guarantee the accuracy or completeness thereof. The use of this Report or any information

contained therein shall be at the user’s sole risk, regardless of any fault or negligence of the

Company or the consultants.

Access to the Sulphurets-Bruceside property at the time of writing this report in February 2001

was not possible due to winter conditions. The property is remote and inaccessible except by

helicopter and the snow cover totally obscures the site. The decline is flooded up to the portal.

However, other Qualified Persons as defined by NI 43-101, under contract with PAH, visited

the Property as consultants during the period that Newhawk was actively exploring the property

and their Certificate of Qualification is included herein. PAH does not believe that a site visit at

or near the time of this report would add materially to our knowledge of the property nor would

it materially change the overall conclusions of this Report.

PAH has, in part, relied upon portions of the reports of other persons who are believed to be

“Qualified Persons” as defined in NI 43-101. (see References).


4.0 INTRODUCTION

4.1 Location and Access

The Sulphurets-Bruceside property is located in the Coast Range Mountains of northwestern

British Columbia approximately 900 kilometers north of Vancouver and 240 kilometers north of

the town of Prince Rupert (Figure 4-1). Latitude and longitude are 56 degrees 29 minutes north

and 129 degrees 13 minutes west, respectively, and corresponding to NTS sheets 104B/8-9.

Access from the town of Stewart (62 kilometers south-southeast of the property) is currently by

helicopter. During the underground exploration period in the late 1980s, freight, supplies and

personnel were transported from Stewart overland via paved Highway 37, then by gravel road to

Bowser Lake, then by barge along Bowser Lake (25 kilometers) then by road along Bowser

River and finally by tracked vehicle up the Knipple Glacier (15 kilometers) and a further 3.0

kilometers of gravel roads to the camp site.

4.2 Climate

The climate in the area of the Sulphurets-Bruceside property is harsh. Winters are long and cold

with heavy snowfall and high winds, while summers are cool and wet. Vegetation is sparse

with only some scrub spruce and fir at lower elevations along creeks, and juniper and alpine

grasses at higher elevations. The property is rugged terrain with steep glacial carved valleys

and rocky ridges.

4.3 Local Resources and Infrastructure

The towns of Terrace and Smithers are located in the same general region as the Sulphurets-

Bruceside property. Both are directly accessible by daily air service from Vancouver. Stewart


has good road access but does not have scheduled air service. There was a permanent camp on

the property at Brucejack Lake but this has been dismantled and the site reclaimed.

4.4 Physiography

The property occupies a large ice covered ridge at elevations ranging between 550 and 1,830

meters above sea level. The terrain is rocky and rugged with permanent ice fields filling the

upper reaches of many of the valleys. The former Brucejack Lake exploration camp was at

1,375 meters elevation on a high plateau above the timberline and the lake is ice-bound most of

the year. An underground mine portal formerly used for underground access and sampling is

located near the campsite at 1,382 meters elevation.

4.5 Project Ownership

Silver Standard owns a 60 percent interest in the Sulphurets-Bruceside property. The property

occurs in the Sulphurets Project area and consists of the Bruceside claim group. (Figure 4-2).

Silver Standard acquired these claims as a result of the acquisition of all the outstanding shares

of Newhawk Gold Mines Ltd., in September 1999. Black Hawk Mining Inc. who acquired their

interest by a merger with Granduc Mines Ltd in July 1996 holds the remaining 40 percent

interest in the Sulphurets-Bruceside property. Silver Standard also owns a 100 percent interest

in the adjoining Sulphurets-Snowfield property as a result of the acquisition of Newhawk Gold

Mines Ltd.

4.6 Land Tenure

As of January 25, 2001, the Sulphurets-Bruceside property consists of 28 recorded claims

containing 146 claim units in the Bruceside claim group (Table 4-1) (Figure 4-2). PAH has not

independently verified title and ownership, and the list of claims and the information herein was

derived from a search of the B.C. Ministry of Energy and Mines database and confirms


information provided by Silver Standard. All claims lie within the Skeena Mining Division and

are recorded under Newhawk Gold Mines Ltd. (now a wholly owned subsidiary of Silver

Standard). A legal survey has not been undertaken.

TABLE 4-1 Silver Standard Resources Inc. Sulphurets-Bruceside Property

Claims List Tenure Number Claim Name Good Standing Until Units Tag Number Silver

Standard Ownership

250388 TEDRAY NO. 12 January 31, 2010 15 29503 60% 250899 RED RIVER 3 January 31, 2010 2 9244 60% 250939 RED RIVER 4 January 31, 2010 12 37937 60% 250940 RED RIVER 5 January 31, 2010 2 37938 60% 250985 RED RIVER 6 January 31, 2010 12 72855 60% 250986 RED RIVER 7 January 31, 2010 4 72856 60% 250990 TEDRAY 21 January 31, 2010 2 8850 60% 251022 RED RIVER 8 January 31, 2010 2 72864 60% 251023 RED RIVER 9 January 31, 2010 2 72865 60% 251058 RED RIVER 10 January 31, 2010 12 84661 60% 251059 RED RIVER 11 January 31, 2010 6 84662 60% 251066 TEDRAY 22 January 31, 2010 8 37931 60% 251284 OK #5 January 31, 2010 8 93645 60% 251285 OK #6 January 31, 2010 4 93646 60% 251286 OK #7 January 31, 2010 12 93647 60% 251287 OK #8 January 31, 2010 2 93648 60% 251512 GOLDWEDGE #3 January 31, 2010 6 97613 60% 254205 RED RIVER 50 January 31, 2010 2 222066 60% 254206 RED RIVER 51 January 31, 2010 2 222067 60% 254207 RED RIVER 52 January 31, 2010 2 222068 60% 254208 RED RIVER 53 January 31, 2010 14 222069 60% 254209 RED RIVER 54 January 31, 2010 1 222057 60% 313084 TEDRAY FR January 31, 2010 1 209777 60% 313085 RED RIVER FR January 31, 2010 1 209776 60% 313086 OK FR January 31, 2010 1 209774 60% 313087 MALONE FR January 31, 2010 1 209775 60% 313089 MALONE January 31, 2010 6 209788 60% 313090 MALONE 2 January 31, 2010 4 209797 60% Total Units 146


4.7 Permitting

PAH has relied on statements by Silver Standard as to the status of permits and any outstanding

environmental liability. There is no current or future exploration planned for the Sulphurets-

Bruceside property, and no permits are currently required. Silver Standard has indicated that

the camp and dumps have been reclaimed with the exception of a small area of fuel

contamination that is currently being treated and that there are no current environmental

liabilities. This is the last year of required water testing.

It is believed that little remaining environmental liability exists at the property, but PAH cannot

make a definitive determination at this time.


5.0 HISTORY OF THE PROJECT

The area encompassing the Sulphurets-Bruceside property has been intermittently explored for

precious and base metals for more than 100 years. Earlier work is generally not well

documented, but activities since the 1950s are reasonably well known. The following is a

chronological description of mineral exploration in the Sulphurets Creek - Brucejack Lake area.

1930s Churn drill testing for placer gold on Sulphurets Creek. 1935 Prospectors discover copper mineralization about 6 kilometers northwest

of Brucejack Lake. 1959 Gold and silver mineralization discovered in upper Sulphurets Creek

area. 1960 Granduc Mines Limited and Alaskan prospectors staked the main

Sulphurets claim group. 1961-1968 Prospecting led to the discovery of several gold-silver and copper

occurrences, six copper-molybdenum zones tested with 40 diamond drill holes.

1970s Granduc conducted geological mapping, sampling, geophysics,

prospecting and limited drilling on known base and precious metal targets north and northwest of Brucejack Lake.

1980-1984 Esso Minerals optioned the property and carried out exploration for

porphyry targets. Esso drilled a total of 8,230 meters. 1985 Newhawk (60%)-Granduc (40%) joint venture formed. Approximately

3,600 meters of drilling was carried out on the West, Shore, and Gossan Zones.

1986-1990 Joint venture initiated underground exploration and development of the

West Zone. During the period, a total of 35,000 meters of surface drilling, 14,800 meters of underground drilling, and 5,230 meters of underground development on the West Zone were carried out. In 1990, resources were calculated by WGM. Corona completed a feasibility study.


1991-1994 Trenching, mapping, airborne surveys, and surface drilling were carried out by Joint Venture on a property-wide scale evaluating surface targets, including the Shore Zone, Gossan Hill, Galena Hill, Maddux and SG. A total of 12,974 meters were drilled in 57 holes on the Sulphurets-Bruceside Property.

1995-2000 No exploration or development work was carried out on the properties.

The camp and waste-rock dumps were reclaimed in 1999.


6.0 GEOLOGICAL SETTING

6.1 Regional Geologic Setting

The Sulphurets-Bruceside property, which lies within the Stikine Terrain, is underlain by

Hazelton Group volcanic, volcaniclastic and sedimentary rocks of upper Triassic to lower and

middle Jurassic age (Figure 6-1). The Hazelton rocks are intruded by Mesozoic felsic to

intermediate plutons and a few Tertiary mafic dikes and sills. Mapping by Britton and Alldrick

(1991) and by Kirkham (1994) subdivides the Hazelton Group into several formations:

sandstone and conglomerates, of the lower Unuk Formation; volcanics and siltstones of the

upper Unuk Formation; interbedded conglomerates, sandstones, and intermediate to mafic

volcanics of the Betty Creek Formation; felsic pyroclastic and tuffaceous rocks, of the Mount

Dillworth Formation; and siltstones and sandstones, of the Salmon River Formation. The

youngest rocks in the region are sedimentary rocks of the Bowser Lake Group. Hazelton Group

rocks are gently folded, with strong north-south steeply dipping normal and reverse faults.

Intrusive rocks include felsic plutons that are probably coeval with the Jurassic volcanics,

Cretaceous Coast Plutonic Complex Batholiths and stocks and minor Tertiary diabase dikes and

sills.

6.2 Property Geology

Two sedimentary and volcanic assemblages underlie the Sulphurets-Bruceside Project claims;

Upper Triassic Stuhini Group rocks on the west and Jurassic Hazelton Group rocks in the

central and eastern parts of the claim area (Figure 6-2).

The oldest rocks on the property are the Lower Sediments that are reported to have a thickness

of 1,500 meters and consist of argillites, siltstones and cherts. They are overlain by pyroclastic

rocks that range from tuff to breccias, and may contain blocks up to 1 meter in size. Most of


the volcanics are andesitic in composition and have been subjected to varying degrees of

alteration. These altered tuffs and breccias are the host of the mineralization. Overlying the

volcanics are the upper sediments that consist of a sequence of black shales and argillites similar

to the lower sediments.

The volcanic-sedimentary sequence is cut by two elongated northerly-trending zones of

intrusive stocks of Middle Jurassic age ranging in composition from diorite to granite.

Post-mineral deformation and faulting are common with the north-striking Brucejack Fault and

the west-trending Bruce Fault being the most prominent.


7.0 DEPOSIT TYPE

The West Zone is a structurally controlled complex vein system containing gold and silver

mineralization. The vein system may be related to the Brucejack fault lying to the immediate

west. It is considered to fit the high-grade, low-sulphidation model. Other examples in B.C.

include Blackdome and Silbak Premier.


8.0 MINERALIZATION

A north-trending zone of intense quartz-sericite-pyrite alteration 100 to 450 meters wide and 4.5

kilometers long cuts through the central part of the claim group. The alteration is pervasive and

hosts over 40 known zones of structurally controlled quartz-carbonate gold-silver bearing veins,

stockworks and breccias. The most important ore-bearing structures occur within a complex

vein system and can range from a few centimeters up to 50 meters wide and can contain up to

60 percent quartz. Individual mineralized zones range in length from several meters to several

hundred meters.

The majority of the veins trend northwest-southeast and dip steeply northeast. Less common

are northeast trending and east west striking veins that can have dips of 60 degrees north to

vertical.

8.1 West Zone

The most important mineralized zone on the property is the West Zone, where the underground

development was carried out. The West Zone is a structurally controlled southwest-trending

vein system that is possibly related to splay faulting from the north-trending Brucejack Fault.

Metallic mineralization within the West Zone alteration zone consists primarily of disseminated

pyrite and minor arsenopyrite. The vein mineralogy consists of up to 10 percent disseminated

pyrite with variable amounts and combinations of tetrahedrite, tennantite, arsenopyrite,

chalcopyrite, galena, pyrargyrite, sphalerite, polybasite, electrum and native gold.

The zone consists of ten individual veins that vary in thickness and length, that generally plunge

steeply southeast and dip steeply northeast, and are contained within an envelope of alteration

(Figures 8-1, 8-2). The most important veins in terms of contained ounces are the R-4 and R-8.


The R-4 vein extends 280 meters vertically and consists of two shoots each about 40 meters in

strike length increasing to 130 meters at depth with an average grade of 0.441 opt Au and 27.1

opt Ag. The R-8 vein has a strike length of 80 meters and an average width of 2 to 5 meters

with a vertical extent in excess of 190 meters. It has a 58-degree dip and averages 0.623 ounces

gold per ton and 12.4 ounces silver per ton with a high-grade core averaging 1.259 ounces gold

per ton and 20.5 ounces silver per ton.

8.2 Satellite Zones

Shore Zone

The Shore Zone is a 500- by 50-meter zone of mineralized stockworks, breccias and veins

enclosed in a 150-meter wide zone of phyllic-sericitic alteration. Individual veins are stacked

en echelon with lenses up to 100 meters long and 1.5 meters wide. Grades are variable, the best

intersection to date is 2.24 ounces per ton gold, 4.3 ounces per ton silver over a true width of 10

meters. Drilling has amounted to 10,945 meters in 63 holes. The zone is open at depth.

Gossan Hill

Eleven zones of individual east-west striking quartz-carbonate-sericite veins, and stockworks

containing up to 10 percent sulphides have been identified to date. Individual veins can be up to

245 meters long with widths of up to 20 meters. The Tommyknocker and PM-4A are the most

significant zones. The mineralization is erratic within the structures and drilling in 1994

indicates the zone persists to at least 200 meters below surface but with no increase in grade.

Total drilling to date is 7,380 meters in 40 holes.

Galena Hill

The Galena Hill Zone is underlain by altered volcanics containing a 200- by 400-meter area of

quartz-sericite-pyrite alteration that contains eight northeast-southwest steeply dipping sulphide-


bearing quartz veins up to 285 meters long and up to 8 meters wide. Since 1981, 28 holes

totaling 3,000 meters have tested the veins over a 250-meter strike length. The best intersection

is 1.565 opt Au over 3.0 meters. With the exception of one vein, G-8, which has been tested

with 13 holes and is 250 meters long and up to 3 meters wide, the majority of the veins,

although continuous along strike and down dip, are too narrow and low grade to be of interest.

SG/ Maddux

The SG vein, one of six veins contained within quartz-sericite-pyrite alteration zones has been

evaluated by 874 meters of drilling in seven holes and 123 meters of surface trenching in 27

trenches. The zone of quartz veining, stockworks and breccia has a strike length of 280 meters

and is up to 3 meters wide, although the drilling was confined to an 80 meter strike length. The

best drill intercept is 0.374 opt Au and 1.32 opt Ag over 3.0 meters. The veins are open at depth

and along strike.

The Maddux zone, close to the SG but across the Brucejack Fault is a similar zone of quartz

stockwork within a 300- by 50-meter-wide zone of quartz-sercite-pyrite altered tuff and breccia.

In 1993 two holes and 26 trenches tested the zone. The best drill intersection was 0.690 ounce

per ton gold and 1.02 ounce per ton silver over 0.65 meters.


9.0 PROJECT EXPLORATION

Granduc conducted the initial exploration of Sulphurets-Bruceside resource areas in the 1970s

and subsequently optioned the property to Esso Minerals, both carried out limited drilling.

From 1985 to 1995, the Newhawk Mines/Granduc Mines Joint Venture conducted extensive

exploration, including surface and underground drilling and sampling. Previous exploration has

been described under Section 5.0.

Silver Standard has not carried out any exploration or development work on the property since

its acquisition in 1999.


10.0 PROJECT DRILLING

Newhawk Mines has carried out all the drilling completed on the property since 1985. Both

surface and underground drilling was conducted. The West Zone outcrops at elevations ranging

from 1,380 to 1,450 meters above sea level, with a decline portal at 1,382 meters above sea

level. The West Zone deposit has been drilled at approximately 25-meter centers or less down

to 1,250 meters above sea level. From 1,259 meters above sea level to the current maximum

depth of exploration at 1,050 meters above sea level, the drill spacing widens progressively to

50 meters. The deepest development level is 1,150 meters above sea level (Figure 10-1).


11.0 SAMPLING METHODOLOGY AND APPROACH

Sampling by the Newhawk Mines/Granduc Joint Venture from 1985 to 1995 consisted of core

drilling from surface and underground, surface trenching and underground chip sampling. The

drill cores were split, with one half of the split core comprising samples with lengths of

generally 1 to 1.5 meters, but not exceeding 3.5 meters. Underground chip sampling was done

with hammer and moil in 8-inch wide strips across faces, and from opposing walls in drifts and

raises. Surface trench sampling was considered sketchy by WGM and considered by them

“only rarely adequate for use in reserves.”


12.0 SAMPLE PREPARATION, ANALYSES, AND SECURITY

In the initial stages of the Newhawk Mines/Granduc Mines Joint Venture exploration program,

samples were prepared and assayed at Newhawk’s own assay lab located in Stewart (later at the

mine-site) with approximately 10 percent of the samples checked at independent labs. As

sample volumes increased beyond Newhawk’s capacity to process them, a greater percentage

(approximately 50 percent) of the samples were sent to external independent labs. One in 20

samples was duplicated and sent to an independent lab as a check.

Samples were prepared by crushing to minus 3mm and riffling to a 300-400 g sample. Rejects

were stored. The samples were dried at 100-degrees C, cooled, pulverized to 100 percent

passing 100 mesh and rolled on a plastic mat. A standard one assay-ton fire assay procedure

with gravimetric finish was used for all assays.


13.0 DATA VERIFICATION

PAH has not collected independent samples from the property. PAH has not independently

verified the database used in the resource calculations.

Newhawk Mines had one sample in 20 duplicated at the pulverization stage and sent to an

independent lab for assaying. It is not known if blanks were included in the assay check

procedures. However, WGM states that they were satisfied that “… the sampling and assaying

has been done competently and by methods appropriate to the deposit…”

In their review of the drilling and assay database, WGM discovered a number of problems and

discrepancies. These related to inaccurate drill collar surveys, insufficient checking of data

entries and illegible entries. WGM reports that they “discovered errors which may have an

impact on individual blocks, but should not affect the estimates of larger units.”


14.0 ADJACENT PROPERTIES

Placer Dome owns the Kerr-Sulpherets Project that adjoins the Sulpherets-Bruceside property

on the west. This property was recently optioned to Seabridge Resources Inc., who report in a

press release dated June 6, 2000, that the Sulphurets gold zone contains 54.8 million tonnes

grading 1.02 g/t Au at a 0.50 g/t Au cutoff. Placer Dome has classified 72 percent of this

resource as indicated. The Kerr deposit is reported to contain 140.8 million tonnes grading 0.75

percent copper and 0.36 g/t Au at a 0.4 percent copper cutoff. Placer Dome classified 56

percent of this total resource as drill indicated. Neither zone has any direct relationship to those

of the Sulphurets-Bruceside property as referred to in this report.

Silver Standard owns 100 percent of the adjoining Snowfields Property, which was also

acquired through the acquisition of Newhawk Mines. In the June 1991 Annual Report,

Newhawk Mines reported an “in-situ resource” of approximately 7 million tons grading 0.075

opt gold. Under the current classification, this would be considered inferred mineral resources.

Because of the limited resource present from the minimal exploration to date, this property has

not been included in this report.

PAH has not verified the accuracy of the above information and the grade and tonnage of the

mineralization indicated above is not necessarily indicative of mineralization on the Sulphurets

property.


15.0 MINERAL PROCESSING AND METALLURGICAL TESTWORK

As reported in the Corona feasibility study, metallurgical testing consisted of four main sample

composites representing the West zone and the R-8 vein. The 1990 testwork was primarily

bench-scale completed at Westcoast Mineral Testing in Vancouver with some of the initial and

confirmatory tests carried out at Lakefield Research.

In summary, the testwork indicated that gold and silver recovery by a combination of gravity

separation and a flotation concentrate was optimal. Overall metal recovery (gravity and

flotation concentrate) was estimated at 89 percent for gold and 85 percent for silver in Corona’s

study. Recovery to the gravity concentrate only was 20 percent for gold and 0.4 percent for

silver.


16.0 MINERAL RESOURCES AND MINERAL RESERVE ESTIMATES

The Sulphurets-Bruceside Property has been the subject of a 1990 feasibility study (the Corona

Feasibility Study) and numerous other technical reports within which were estimates of

“mineral reserve” and “mineral resource.” There are not, however, any up to date engineering

studies using recent costs to demonstrate that the Sulphurets-Bruceside Project is currently

economically viable. As such, PAH does not consider the property to contain mineral reserves

as defined by the CIM Standards on Minerals Resources and Reserves Definitions and

Guidelines adopted by the CIM Council on August 20, 2000.

16.1 West Zone Resource Estimates

There have been several resource estimates carried out in 1989 and 1990 on behalf of Newhawk

Gold Mines Ltd., the previous owners of the Sulphurets Property.

In March 1989, Cominco Engineering reported a “geological reserve” of 216,329 tons at 0.33

opt Au and 22.77 opt Ag for the West Zone.

In March 1990, Watts, Griffis and McOuat, Consulting Geologists and Engineers, (“WGM”)

developed an “in-situ reserve” estimate for the West Zone. The WGM calculations were done

manually using Newhawk Mine’s prepared level plans aided by vertical cross sections, both

developed at 10-meter intervals. The primary assay data used by WGM was the underground

drill and channel samples.

For its “reserve” calculations, WGM used a gold-equivalent cutoff grade of 0.20 opt Au, with a

minimum true width of 1.5 meters. Silver grades were converted to gold equivalent at an

Au:Ag equivalency ratio of 1:66. PAH notes that at current metal prices (Au = $260/oz and Ag

= $4.50/oz) the Au:Ag equivalency ratio is approximately 1:58, and as such the WGM

equivalency is slightly optimistic. Blocks of waste between mineralized veins were provided


for in the estimates if those blocks exceeded 3.5 meters in horizontal dimension before dilution.

Based on scatter diagrams, and a comparison of muck samples from a raise on the R-8 vein,

WGM determined that the cutting of high-grade values was unnecessary. WGM employed a

specific gravity (SG) of 2.75 for unweathered typical core samples that had been determined by

Newhawk using the standard method of weighing samples in air and water. WGM also

estimated additional low-grade resources in the West Zone for material ranging between cutoff

grades of 0.10 opt and 0.20 opt AuEq. WGM further estimated additional potential material for

cutoff grades greater than 0.10 opt AuEq, but which were not fully delineated mineralized areas.

From their work, WGM defined “proven reserves” as mineralized material located within 7

meters of underground openings. WGM defined “probable reserves” as mineralized material

projected a maximum of 30 meters between data points in the assumed plane of the vein and a

maximum of 10 meters on the fringes of the veins, on strike or down dip. WGM defined “other

mineralization” as additional low-grade material within 30 meters of an intersection. PAH has

reclassified these “reserves” to be measured and indicated resources, in accordance with

accepted classification as defined by the CIM Standards on Minerals Resources and Reserves

Definitions and Guidelines adopted by the CIM Council on August 20, 2000.

Additional potential “reserves” included mineralization considered by WGM to be

“inadequately delineated” and is primarily the down dip projections up to a maximum of 30

meters from an intersection. PAH has reclassified these “reserves” to be inferred mineral

resources, in accordance with currently accepted classifications.

The West Zone measured + indicated resource estimate by WGM and reclassified by PAH

consists of 932,500 tons averaging 0.348 opt Au and 16.3 opt Ag. The inferred resource

consists of 51,600 tons averaging 0.187 opt Au and 8.0 opt Ag. This resource is shown in Table

16-1.



WGM West Zone Resource Estimate – Reclassified By PAH Category Type Tons Gold (opt) Silver (opt)

> 0.2 opt AuEq (WGM) 121,100 0.563 21.7 0.1 – 0.2 opt AuEq (WGM) 22,900 0.070 5.6

Measured

Subtotal 144,000 0.485 19.1 > 0.2 opt AuEq (WGM) 594,300 0.404 19.3 0.1 – 0.2 opt AuEq (WGM) 194,200 0.075 5.0

Indicated

Subtotal 788,500 0.323 15.8 Total Meas+Ind WGM Total 932,500 0.348 16.3

Inferred > 0.1 opt AuEq, not del. (WGM) 51,600 0.187 8.0

In 1990 Corona, using the WGM database, but a higher cutoff grade of 0.30 opt AuEq, reported

a diluted mineable ore reserve of 550,900 tons grading 0.418 opt Au and 18.0 opt Ag.

In 1990, Newhawk Mines updated the WGM resources after an additional underground drilling

program of 5,800 meters. Additional resources were located below the 1220 elevation on the

West zone veins and on the R8 veins on the 1050 to 1100 levels. Using the same parameters as

WGM, Newhawk Mines estimated an additional resource of 111,000 tons at 0.569 opt Au and

13.63 opt Ag. PAH checked the cross sections compiled by Newhawk and compared the

sections with those of WGM. PAH agrees with the additional resources as estimated by

Newhawk and has reclassified them to be of an indicated confidence category.

The West Zone measured + indicated resource estimate by WGM, with the Newhawk Mines

additional resource, and reclassified by PAH consists of 1,043,500 tons averaging 0.371 opt Au

and 16.0 opt Ag. The inferred resource consists of 51,600 tons averaging 0.187 opt Au and 8.0

opt Ag. This resource is shown in Table 16-2.



WGM West Zone Resource Estimate With Newhawk Mines Addition – Reclassified By PAH Category Type Tons Gold (opt) Silver (opt)

> 0.2 opt AuEq (WGM) 121,100 0.563 21.7 0.1 – 0.2 opt AuEq (WGM) 22,900 0.070 5.6

Measured

Subtotal 144,000 0.485 19.1 > 0.2 opt AuEq (WGM) 594,300 0.404 19.3 0.1 – 0.2 opt AuEq (WGM) 194,200 0.075 5.0 Newhawk Additional 111,000 0.569 13.6

Indicated

Subtotal 899,500 0.353 15.5 Total Meas+Ind WGM + Newhawk 1,043,500 0.371 16.0

Inferred > 0.1 opt AuEq, not del. (WGM) 51,600 0.187 8.0

In 1995 Budinski quoted an in-situ geological resource of 826,000 tons grading 0.450 opt Au

and 18.8 opt Ag. This figure was derived from the addition of the WGM 1990 proven and

probable reserves plus the Newhawk 1990 additional resources.

PAH has reviewed the database and methodology used by WGM and Newhawk Mines,

including the cross sections and level plans. It is PAH’s opinion that the geologic work and the

geological model used are a reasonable representation of the mineral resource. In PAH’s

opinion the mineral resource has been prepared according to accepted industry standards using

accepted practices and that the work completed has been as thorough and as accurate as possible

given the available database.

16.2 Resource Estimate Of Other Zones

Other zones of mineralization on the Sulphurets-Bruceside Property include the Shore Zone,

SG/Maddux, Galena Hill, and Gossan Hill, as discussed in Section 8.2 (Figure 4-2, 6-2). These

other zones have been evaluated to varying degrees by diamond drilling and trenching.

Budinski (1995) reported resources from previous estimates for the five satellite showings to be

198,500 tons grading 0.570 opt Au and 3.95 opt Ag. PAH reviewed the drilling data, plans and

cross-sections and reclassified these resources to be in accordance with accepted classification


as defined by the CIM Standards on Minerals Resources and Reserves Definitions and

Guidelines adopted by the CIM Council on August 20, 2000.

The Shore Zone mineral resource was estimated by Newhawk Mines (Vulumiri, 1989). PAH

found that the data for the Shore Zone was the most complete of the other zones. Cross

sections, level plans and longitudinal sections were available. Two shoots carry 70 percent of

the resource. A cutoff grade of 0.2 opt AuEq was used. Specific gravity used for the Shore

Zone estimation appears to be 3 gm/cm3 rather than the 2.75 gm/cm3 used for the West Zone.

PAH believes that this may overstate the resource tons and ounces by approximately 10 percent.

Furthermore, the cross sections show that some of the sample lengths were up to 4 meters

within mineralized quartz zones. PAH has reclassified the Shore Zone mineralization to be an

indicated resource, in accordance with currently accepted classifications. The Shore Zone

resource consists of 92,300 tons averaging 0.371 opt Au and 4.6 opt Ag.

The remainder of the other zones were estimated by Newhawk Mines (Visage, 1993) using a

0.20 opt AuEq cutoff grade (based on a Au:Ag equivalency ratio of 1:85) and a minimum width

of 1.5 meters. PAH notes that this ratio is 30 percent greater than the Au:Ag equivalency ratio

of 1:66 used by WGM in the West Zone and as such PAH believes that the equivalency is

somewhat optimistic. A 2.75 gm/cm3 density was applied to convert estimated volumes into the

resource tons estimate.

Gold and silver resource grades for the other zones were estimated mainly from fire assays, with

metallic screen assays used where available. Sample check assays were averaged together with

the original assay for estimation. High-grade statistical outlier grades were not cut for the

resource grade estimate. No statistics appear to have been carried out on the advisability of

cutting the high-grade gold values. Newhawk indicates that cutting the high grade gold values

to 1 ounce in the PM-4A vein in the Gossan Hill Zone reduces the gold grade from 3.390 opt to

0.420 opt Au. Similarly, in the Galena Hill Zone the grade drops from 0.784 opt to 0.381 opt

Au.


The other satellite zones measured + indicated mineral resource estimate by WGM and

Newhawk Mines and reclassified by PAH consists of 92,300 tons averaging 0.371 opt Au and

4.6 opt Ag. The inferred resource consists of 99,700 tons averaging 0.725 opt Au and 3.5 opt

Ag. This resource is shown in Table 16-3.


Other Satellite Zone Resources – Reclassified By PAH Mineral Zone Estimation Confidence

Category Tons Gold

(opt) Silver (opt)

Shore Newhawk-1989 Indicated 92,300 0.371 4.6 SG Newhawk-1993 Inferred 46,200 0.296 0.8 Galena Hill Newhawk-1993 Inferred 30,900 0.784 8.7 Gossan Hill Newhawk-1993 Inferred 22,600 1.522 2.0 Subtotal Inferred 99,700 0.725 3.5

16.3 Total Sulphurets-Bruceside Property Resource Estimate

Based on the previous work by other independent consultants, the Sulphurets-Bruceside

Property contains a measured and indicated mineral resource of 1,135,800 tons at a grade of

0.371 opt Au and 15.1 opt Ag, and an additional inferred mineral resource of 151,300 tons at a

grade of 0.542 opt Au and 5.0 opt Ag. Using an Ag: Au ratio of 55:1, this amounts to a

measured + indicated resource of 40.3 million ounces of AgEq and an inferred resource of 5.2

million ounces of AgEq. This resource is shown in Table 16-4.


TABLE 16-4 Silver Standard Resources Inc. Sulphurets-Bruceside Property Combined Mineral Resources

Mineral Zone

Estimation Confidence Category

Tons Gold (opt)

Silver (opt)

AgEq (ounces)

West WGM-1990 Measured 144,000 0.485 19.1 6,600,000West WGM1990+Newhawk1990 Indicated 899,500 0.353 15.5 31,400,000Shore Newhawk-1989 Indicated 92,300 0.371 4.6 2,300,000Subtotal Meas.+Ind. 1,135,800 0.371 15.1 40,300,000West WGM-1990 Inferred 51,600 0.187 8.0 900,000SG Newhawk-1993 Inferred 46,200 0.296 0.8 800,000Galena Hill Newhawk-1993 Inferred 30,900 0.784 8.7 1,600,000Gossan Hill Newhawk-1993 Inferred 22,600 1.522 2.0 1,900,000Subtotal Inferred 151,300 0.542 5.0 5,200,000Note: 1) PAH tabulated the resource silver equivalent ounces using a Ag:Au equivalency ratio of 55:1.


17.0 OTHER RELEVANT DATA AND INFORMATION

Although not a development property as defined by NI 43-101, the Sulphurets-Bruceside

property has been the subject of a prior engineering study that included metallurgical testwork.

In October 1990, Corona Corporation completed a study entitled “Sulphurets Project Feasibility

Study.” This study contemplated an underground mine with decline access. Material mined

from underground would be transported to a nominal 350 ton-per-day surface mill facility for

processing. The proposed mill consisted of a crusher(s), a ball mill, gravity and flotation

circuits, dewatering, and a smelting unit for producing a gold-silver doré bar. Tailings would be

deposited in Brucejack Lake. Operating costs were estimated to be $145 per ton. Based on a

capital cost of $42.7 million, which included working capital and a 15 percent contingency and

a gold price of US$400 and silver at US$5, the discounted cash flow rate of return was 6.7

percent.


18.0 INTERPRETATION AND CONCLUSIONS

Previous owners have carried out extensive exploration and development programs during the

years 1980-1995, consisting of mapping, trenching, underground development, surface and

underground diamond drilling. A feasibility study was completed in 1990.

Based on the previous work, the Sulphurets-Bruceside property contains a measured and

indicated mineral resource of 1,135,800 tons at a grade of 0.371 opt Au and 15.1 opt Ag and an

additional inferred mineral resource of 151,300 tons at a grade of 0.542 opt Au and 5.0 opt Ag.

Based on an Ag:Au equivalency ratio of 55:1, this amounts to a measured + indicated resource

of 40.3 million ounces of AgEq and an inferred resource of 5.2 million ounces of in-situ AgEq.

It is PAH’s opinion that the estimation of the mineral resources as stated above and shown in

Table 16-4 has been prepared according to accepted industry standards using accepted practices,

and that the work completed has been both thorough and as accurate as possible given the

available database. It is PAH’s opinion that the classification of measured, indicated and

inferred mineral resources as estimated herein, meet the definitions of measured, indicated and

inferred mineral resources as stated by NI 43-101 and defined by the CIM Standards on Mineral

Resources and Reserves Definitions and Guidelines adopted by the CIM council on August 20,

2000.

The property is considered to have potential for additional resources both at depth in the veins

explored to date and in other targets that have yet to be fully delineated. Because of the isolated

location of the property, higher gold and silver prices are required before further exploration

programs are recommended.


19.0 RECOMMENDATIONS

No further work is recommended on the properties at the present time. Further exploration

should await higher gold and silver prices.


20.0 REFERENCES

1. Alldrick, D.J. and Britton, J.M., 1991, Sulphurets Area Geology, BC Ministry of Energy, Mines and Petroleum Resources, Open File 1991-21

2. Budinski, D. R., P.Geo. October 15, 1995, Summary Report on the Bruceside Project

Sulphurets Property Northwestern British Columbia. Report for Newhawk Gold Mines Ltd.

3. Budinski, D. R., P.Geo. December 31, 1995, Summary Report on the Snowfield Project

Sulphurets Property. Report for Newhawk Gold Mines Ltd. 4. Cominco Engineering Services Ltd., March 20, 1989, A Review of the Geological Ore

Reserve of the West Zone Sulphurets Gold Deposit Newhawk Gold Mines. 5. Corona Corporation, October 1990, Newhawk Gold Mines Ltd. Sulphurets Project

Feasibility Study. 6. Kirkham, R.V., 1963, Geology and Mineral Deposits in the Vicinity of Mitchell and

Sulphurets Glaciers, Northwestern BC unpublished MSc. thesis, University of British Columbia.

7. McPherson, M.D., P.Geo., December, 1993, 1993 Summary Report on the Sulphurets

Property, Snowfield Project. Report for Newhawk Gold Mines Ltd. 8. Shillabeer, John M., February 17, 1989, Newhawk Memo on Shore Zone: Reserve

calculation by Vulumiri. 9. Visagie, D., P.Geo, December 15,1993, 1993 Summary Report Sulphurets Joint Venture

Bruceside Project. Report for Newhawk Gold Mines Ltd. 10. Visagie, D., P.Geo. and Roach, S. P.Geo., February 14 1992, 1991 Evaluation Snowfield

Project. Report for Newhawk Gold Mines Ltd. 11. Visagie, D., P.Geo. and Roach, S. P.Geo., October 15, 1992, 1992 Evaluation Snowfield

Project. Report for Newhawk Gold Mines Ltd. 12. Watts, Griffis and McOuat Limited, March 1, 1990, Report on Ore Reserves West Zone,

Sulphurets Property for Newhawk Gold Mines Ltd.


21.0 ADDITIONAL REQUIREMENTS FOR TECHNICAL REPORTS ON DEVELOPMENT PROPERTIES AND PRODUCTION PROPERTIES

There are no reserves on the property at the present time and the Sulphurets Property is not

considered a development property as defined by NI 43-101.


22.0 ILLUSTRATIONS

NONE

Pincock, Allen & Holt 9814.00c April 17, 2001

23.0 CERTIFICATE Charles Stewart Wallis

3244 Taft Ct, Wheat Ridge, CO 80033

Phone 303 231-9542 1. I, C. Stewart Wallis, P. Geo, am a professional geoscientist employed by Pincock Allen & Holt

Ltd, an international consulting group providing consulting services to the mining industry, whose address is 789 West Pender Street, Suite 480, Vancouver, BC V6C 1H2.

2. I am a graduate of the Geological program of McMaster University, Hamilton, Ontario

and hold a Bachelors of Science Degree Geology Major, granted in 1967. 3. I have practiced my profession continuously for over 30 years and have examined and reported

on numerous precious metal deposits throughout the world. 4. I am a member of the Association of Professional Engineers and Geoscientists of Saskatchewan,

a Professional Geologist registered in the State of Wyoming, a Fellow of the Geological Association of Canada, a member of the CIM and SME, a Certified Professional Geologist as recognized by the American Institute of Professional Geologists.

5. As a result of my experience and qualifications I am a Qualified Person as defined in NP 43-101. 6. The information contained in this report was obtained from reports provided by Silver Standard

Resources Inc. This information is to the best of my knowledge and experience correct. I have had no previous involvement with the subject property.

9. I have read NI 43-101 and Form 43-101F1 and this report has been prepared in compliance with

National Instrument 43-101and Form 43-101F1. 10. I am an Independent Person as defined by NI 43-101.

11. I am not aware of any material fact or material change with respect to the subject matter of this

technical report which is not reflected in this report, the omission to disclose which would make this report misleading.

12. This report may be used in any Prospectus, Statement of Material Facts or other public document,

with the author’s consent which is hereby given. Dated at Vancouver, BC this ____day of April, 2001 C. Stewart Wallis, BSc., P.Geo. (Sask.) F.G.A.C., C.P.G.

CERTIFICATE OF QUALIFICATION

I, David R. Budinski of 219 Sandringham Crescent, North Vancouver, hereby certify that I am a Qualified Person as defined by National Instrument 43-101, and that: 1. I am employed as a consultant under contract to Pincock Allen & Holt Ltd, an international consulting

group providing consulting services to the mining industry whose address is 789 West Pender Street, Suite 480, Vancouver, BC V6C 1H2.

2. I am a 1955 graduate of the University of Alberta and hold a Bachelor of Science degree in

Geology. 3. I am a Registered Professional Geoscientist in the Province of British Columbia. 4. I have practiced my profession as a geological consultant continuously since 1988. 5. This report is based on the study of available reports provided by Silver Standard Resources Inc. and

my personal work on the Sulphurets-Bruceside property during a six week period in January-February 1989 as an independent consultant during which time I acted as senior mine geologist supervising all geological work carried out during that time.

6. I have read NI 43-101 and Form 43-101F1 and this report has been prepared in compliance with

National Instrument 43-101 and Form 43-101F1. 7. I am an independent person as defined by 43-101. 8. I am not aware of any material fact or material change not reflected in this report, the omission to

disclose which makes this report misleading. 9. This report may be used in any Prospectus, Statement of Material Facts or other public document,

with the author’s consent which is hereby given. Dated at Vancouver BC this day of March 2001.

David R. Budinski, P. Geo.

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