Silverado Gold Mines Ltd. (fka SLGLF)

[MUSHROOMKING]

Silverado announces that backhoe trenching during the continued exploration of the five-mile long Solomon Shear zone on its Nolan Gold Mine located 280 miles North of Fairbanks, Alaska, has disclosed a 16.4 foot (5 m) continuous chip sample grading 5.22 ounces per ton (179 grams) gold, and 8.74% antimony by ore assay. Due to the exceptionally high content of gold assayed, a second sample was successfully re-assayed at the ALS Chemex Lab confirming this high value.

In addition to the high gold assay found in Trench H, high antimony values were also found. Significant gold values were found in all of H, G and J Trenches. The antimony values reached as high as 30%. These high antimony values are consistent with the previous work in this vicinity where sampling showed antimony assays as high as 46% (see press release January 29, 2007).

Solomon Shear is a highly mineralized gold-bearing system that extends over five miles on Silverado's Nolan property. It has been the focus of Silverado's extensive exploration program, which includes geophysical and geochemical surveys in addition to the trenching program. All of Silverado's "downstream" placer gold recoveries indicate likely sources higher in the Solomon Shear system. The company is just in the beginning stage of exploring these possible source areas.

Silverado Gold Mines is very pleased with these results and we continue to expand on our knowledge of this discovery. Old time miners and Silverado combined have removed more than 140,000 ounces of gold nuggets and dust from the lower benches of Smith Dome and below Solomon's Shear. Our 2006 trench and drill results confirmed the existence of high-grade gold-antimony-quartz veins in the Solomon Shear. Our highest assay reading from 2006 was 0.83 ounces per ton (see press release January 22, 2007). Now, we are encountering suspected source materials that have assayed considerably higher than those from 2006. This recently discovered high-grade area is under current exploration by further trenching and an extensive drilling program. This drilling, using our recently purchased diamond drill, will begin shortly and continue as long as weather permits.