Silverado Gold Mines Ltd. (fka SLGLF)

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Big gold nugget found!!!

PR NEWSWIRE) Silverado Gold Mines Ltd. - Big gold nugget found in underground
Mining work - A 13.78 troy ounce gold nugget found in
Silverado Gold Mines Ltd. - Big gold nugget found in underground mining work - A
13.78 troy ounce gold nugget found in Mary\'s East Tunnel - Many other gold nugge
s

VANCOUVER, and FAIRBANKS, AK, Feb. 23 /PRNewswire-FirstCall/ - A 13.78 troy ounce gold nugget has been found in the Mary\'s East underground workings
during sampling and grade control work. Gold nuggets of this size range are
rare, and accordingly priced. Our Nolan properties are famed for producing
some of the largest gold nuggets ever found in Alaska. In addition to the big
nugget, many other gold nuggets, shown in the photograph here:
http://www.silverado.com/february232007 are being found, all of them are of
jewelry quality.
As the tunnels are being advanced into the Mary\'s East placer deposit,
samples are systematically taken and analyzed by standard gravity methods to
provide an estimate of the gold content of gravel being stockpiled during each
shift of work. Two shifts of mining advance the tunnels seven days per week
during the winter season. Placer gold deposits at Silverado\'s Nolan Properties
have a significant "nugget factor", defined as the uneven distribution of
larger sizes of gold particles and their influence on the overall valuation of
the deposit. Therefore, we incorporate scanning the tunnel walls at the
interface of gravel to bedrock with a metal detector, using strict security
procedures. This provides a good indication of gold nugget distribution, and
helps guide the tunnel development between drill holes. Management is pleased
to report to our shareholders that areas of very rich gold bearing gravel have
been delineated, and are being stockpiled for sluicing during the summer of
2007. 24.26 ounces of gold nuggets were recovered from two cubic feet of
gravels in a recent test of an underground area that prior drilling had shown
to be rich in gold. Visit this web link to view video clip of gold extraction:
http://www.silverado.com/february232007/video.htm
A display of nuggets produced to date from the Mary\'s East Deposit has
been accumulated from grade control scanning and sampling since January 13th,
2007 is viewable here: http://www.silverado.com/february232007
Crews will continue to stockpile gold bearing gravel from the Mary\'s East
tunnels into early spring. We have stock piled 4,600 loose cubic yards of
gravel from Mary\'s East plus an additional 9,000 loose cubic yards of gravel
from the Swede Channel. Processing the stockpiles for gold removal is expected
to begin after the stockpiles are sufficiently thawed (mid June 2007). Thawing
is critical, to ensure that all of the gold, from large nuggets down to the
tiniest gold dust particles can be liberated from the frozen gravel chunks,
then concentrated by gravity separation in our modern sluicing plant.
This press release was prepared by Edward J. Armstrong, Certified
Professional Geologist; who is a qualified person as defined under the
standards of Canadian National Instrument policy 43-101.
This Press Release may contain, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements are based on management\'s expectations and
beliefs, and involve risks and uncertainties. These statements may involve
known and unknown risks and uncertainties and other factors that may cause the
actual results to be materially different from the results implied herein.
Readers are cautioned not to place undue reliance on the forward-looking
statements made in this Press Release.
CONTACT: To learn more about Silverado Gold Mines Ltd., visit us online at
http://www.silverado.com or contact Bob Dynes, Investor relations, toll free
at 1-800-665-4646
SOURCE Silverado Gold Mines Ltd.


Contact Information:
To learn more about Silverado Gold Mines Ltd., visit us online at http://www.sil
*** end of story ***Bob Dynes, Investor relations, toll free at 1-800-665-4646