Silverado Gold Mines Ltd. (fka SLGLF)

[MUSHROOMKING]

Silverado Gold Mines Ltd. Regarded as... "The Most Competent Underground Placer Drifting Company Active In Alaska Today"

Vancouver, BC, Canada: February 20, 2008 (Silverado - OTCBB: SLGLF / Frankfurt : SLGL). Silverado Gold Mines Ltd. is pleased to announce the release of the Bundtzen Report. This professional, independent NI 43-101 compliant Report has assessed the company's activities and resources for 2007, and is subsequent to the 2006 Report also produced by Thomas K. Bundtzen, President of Pacific Rim Geological Consulting, Inc., (PRGCI) of Fairbanks, Alaska, USA. Mr. Bundtzen is one of the foremost placer mining consultants in North America, Scandinavia and Russia.
The following are direct quotes from the Report, which can be found in its entirety on the Silverado website [ Click Here ].

"The writer regards Silverado as the most competent underground placer drifting company active in Alaska today."

"During 2007, Silverado Gold Mines, Ltd. had another successful year mining placer gold on their Nolan Creek properties."

"The company produced 3,710.74 ounces of placer gold, the majority of which is the typical coarse nugget gold derived from Nolan Creek valley."

"With premium gold bullion and nugget jewelry prices available, the writer estimates that $4.0 million in gold was produced."

"The actual production was more than twice the amount forecasted by the writer last year (Bundtzen, 2006)."

"During 2006-2007, Silverado Gold Mines Ltd. completed a highly successful underground placer gold mining project on Swede Channel and Mary's East deposit."

"The radiocarbon age dates from placer deposit imply that there has not been much time between erosion of the hardrock gold source to creation of the placer"...."Hence the lode source creating the placers may be more-or-less intact. Secondly, the Mary's East deposit is a colluvial deposit with very coarse gold, which implies that the lode source is very proximal to this area."

"The Workman's Bench project constitutes an important component of Silverado's plans to mine and ship stibnite concentrates. The company has had experience in the antimony market from their property on Eagle Creek, in the Fairbanks (Mining District). Their Scrafford property (near Fairbanks) was once one of the largest domestic sources of antimony. Silverado is planning on taking advantage of the relatively high prices of antimony to pursue this activity."
Silverado Gold Mines Ltd.
Silverado Gold Mines Ltd. has already secured $ 5,000,000 for its 2008 exploration plans. See - Feb 14, 2008 " - With All Financing In Place, Silverado To Launch $ 5,000,000 Nolan Creek 2008 Exploration Program" [ Click Here ]

Silverado's twelve square mile, 100% owned Nolan Property has yielded over $ 15 million in gold. This was produced during past Silverado test mining activities. The area, over its pre - Silverado historical 'gold rush mining', produced 120,000 oz of gold, and generated a 136 oz gold nugget, the second largest ever found in Alaska. Silverado discovered the tenth largest gold nugget, at 41 oz. [ Click Here ].

Silverado's Nolan property includes infrastructure built, and paid for, a 24 person accommodation, machine shop, heavy equipment and maintenance facilities. With all permits in place, Silverado has recently invested $ 1 million for specialized underground exploration and mining equipment. Further underground exploration of the Workman's and possibly Pringle Benches will be dependant on completion of current assays combined with the assay data gained from this spring and summer's drilling program as well as full channel samples to be cut in the Workman's Bench mineralized zone upon commencement of the drill program. Silverado had already discovered 93-97% pure gold nuggets in these areas.

"Exploration Drilling On Workman's Bench At Nolan Creek Reveals Gold Grades Up To 0.55 Toz/Ton And 34.51% Antimony. Gold And Antimony Mineralization Now Extends From North End Of 700' Long Pringle Bench Area To The South End Of Workman's Bench Area, A Distance Of 1300 Feet" (Jan 14, 2008) [ Click Here ].