Silverado Gold Mines Ltd. (fka SLGLF)

[MUSHROOMKING]

$41,200,000 Of Inferred In-Place Antimony Resource Calculated In One Small Segment Of The Nolan Property
Additional Gold Value Due Shortly In Final Bundzten Report


(May 5th, 2008, Vancouver, Canada) Silverado Gold Mines Ltd., and its wholly owned subsidiary, Silverado Green Fuel Inc. (Trading Symbols, OTC BB - SLGLF, FRANKFURT - SLGL).
News from Silverado's Mine Manager at Workman's Bench, Nolan Creek Site: With a late winter thaw in Alaska, Silverado has assembled its team, and readied all of its equipment and supplies for an anticipated season of exploration and development. The first target zone, as defined by drilling, tunnelling, surface mapping and sampling, contains multiple, thin, steeply dipping, quartz-sulfide veins and veinlets over an overall true width ranging from 95-105 feet. Within that mineralized zone, one vein contains a 0.4-to-1.1 foot thick (average=0.6 foot) band of stibnite (antimony sulphide) that contains appreciable gold.

News from Tom Bundtzen, Mining Consultant: Thomas K. Bundtzen is President of Pacific Rim Geological Consulting, Inc., of Fairbanks, Alaska, USA. Mr. Bundtzen is a well-known placer and lode-mining consultant active in North America and Eastern Russia. During April, Bundtzen supervised the collection of 30 chip-channel samples and a large bulk sample from the quartz-sulfide vein stockwork and from a massive stibnite-bearing vein-fault system, respectively. Bundtzen's preliminary 'Draft Field Report' (April 22, 2008) contains exploration maps and operational photos, as well as photos of stibnite veins and semi massive quartz-stibnite-gold veins, and confirms the high gold and antimony content assay results reported by first phase, independent laboratory testing.

In an effort to better quantify the mineral discoveries at Nolan Creek, specifically within a 500 foot long by 225 foot (vertical) area of the Workman's Bench, part of the Solomon Shear, Silverado has contracted Thomas K. Bundtzen to prepare a preliminary resource estimate. The resource estimate will be based on: 1) underground chip and channel sampling conducted by Bundtzen; 2) on assayed mineralized zones within drill hole intercepts; 3) on evaluation of polished thin sections from mineralized zones; and 4) on microprobe determinations. Silverado assay sample data will also be incorporated into the estimate. A bulk sample from the mineralized stibnite zone is being prepared for shipment to a metallurgical test facility outside of Alaska.

Please see Preliminary Field Report of April 22, 2008, and a semi-massive stibnite vein mineralization photo.

The April 22, 2208 draft report will be followed shortly by a resource / mineralization valuation, also to be prepared by Pacific Rim Geological Consulting, Inc. (PRGCI), which provides third party reports and assessments, in conformity with professional and NI 43-101 guidelines, with consulting fees paid by the company.

Antimony News from Silverado Management: The initial report of Thomas K. Bundtzen received on April 22nd, 2008 confirms Silverado's observations in the Workman's bench system. The tunnel on the 80 foot level has identified a stibnite-quartz vein that contains 80 percent stibnite and 20 percent quartz. Both surface and subsurface data indicates that the mineralized zone on Workman's Bench can be traced for 500 feet along strike and to a minimum depth of about 225 feet. Hence 500 ft X 225 ft X 0.6 ft = 16,875 tons of inferred stibnite resources with a calculated unit worth of $41.2 million USD ($1.22/lb for massive stibnite ore) of in-place, inferred antimony resource. The in-place antimony resource estimate presented above includes only a single vein system in that portion of Workman's Bench that has been explored by surface and underground exploration techniques. There are three additional zones of semi-massive, stibnite-bearing veins in the Workman's Bench mineralized zone. Additional drilling, inferring logical extensions to Pringle Bench to the Northeast could add to this in-place, antimony resource estimate.

Gold News from Silverado Management: Massive stibnite contains up to 35 grams/tonne (1.13 oz/ton) gold; however, an inferred gold resource is not calculated here, but will be estimated when final gold assay results are received from the submitted samples collected in April, 2008. Please see semi-massive stibnite vein mineralization photo from Tom Bundzten's Preliminary Field Report of April 22, 2008. Photo.

News from Silverado Shareholders: "There seems to be a 'buzz' around Fairbanks being reported by shareholders, that Silverado is 'onto something significant'. We have heard this from a number of sources. That's generally a pretty good sign." - Bob Dynes, Investor Relations

U.S. Presidential Race News: On 'Good Morning America' (April 29/08), U.S. Presidential candidate Senator Hilary Clinton stated that she would seek $150 billion for alternate fuel development, including coal-to-liquid fuel. She further recognized that ethanol was depleting the world' food supply, and, as such, was not a long term energy solution.

News from Silverado Green Fuel: With anticipated Green Fuel production costs at $20/equivalent oil barrel, and oil prices exceeding $115/barrel, Silverado's Green Fuel initiative is well positioned. See www.silveradogreenfuel.com

Silverado in the Media: Equities Magazine, Special Mining Edition (May 1, 2008) includes a full page highlighting the results of the recent "Melman Report" on Silverado.

(Silverado Gold Mines Ltd.) :- The Melman Report concluded that, "given typical market valuation of 10 to 20 times earnings for mining shares", should Silverado succeed in its gold exploration, and subsequent production ("...which appears to be possible given their current placer operations, exploration work and resources indicated in the Bundtzen Report..."), then " the shares would have the potential to move to the region of 40 cents to 80 cents ($0.40 - $0.80) - or a multiple of eight to sixteen times the current price."

(Silverado Green Fuel Inc.) :- "In addition to its mining activities, Silverado is also involved in developing its subsidiary company, Silverado Green Fuel Inc. www.silveradogreenfuel.com The fuel is referred to as "Low-Rank Coal-Water Fuel" (or "Green Fuel") and is designed to be used in oil-designated boilers and advanced combustion and gasification systems. The economics of Green Fuel are intriguing because engineers estimate that it can be produced for a total cost of about US$20 per barrel, compared to the world market price for Crude Oil which is quoted at above US$110 per barrel as of early April, 2008. Although it is difficult to place a valuation on the Green Fuel portion of Silverado's future, the economics of that venture could add substantially to their potential valuation."

See Report and Disclaimers.

News from Gold Market Experts: "I have heard from reputable sources that U.S. hedge funds have a trade on in which they have shorted juniors against senior gold stocks."..."It was further suggested that a lot of the shorting of juniors was naked (i.e. selling short without bothering to borrow the stock). If this is indeed true, and the gold price performs as I expect, there will be a day of reckoning for the shorts and an explosive move in the juniors. Considering how cheap they are currently, that would be more than appropriate." - John Emery, Investor's Digest, April 18, 2008

News from Antimony Market Experts: "Antimony prices soar on supply squeeze. Antimony ingot prices in the European spot market continue to rise on the back of higher offers and limited supply from China. Prices this week topped $6,000/tonne even for grade two ingot." - www.metal-pages.com :

Chinese Investor Attraction Test Initiative: Synergy Management Group Ltd., Silverado's contractor, has provided feedback that it's on-the-ground people in China were generating key high wealth investor databases, and carrying out awareness building via presentations to banks, brokers and investment houses, media coverage, and marketing directly to the newly compiled investor databases. Interest in Silverado's Green Fuel venture is growing significantly.

Contact Information - Silverado Gold Mines Ltd.

Silverado is an international company focused on gold exploration, and a new environmentally friendly Fuel Technology. Silverado has gold properties located throughout Alaska which include the 100% owned Nolan Placer Gold Mine.

Silverado Green Fuel Inc.(website and Green Fuel Video) www.silveradogreenfuel.com
Silverado Gold Mines Ltd. www.silverado.com
More Information? www.silverado.com/investors/request
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SILVERADO GOLD MINES LTD.
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Suite 1820 - 1111 West Georgia St
Vancouver, British Columbia
Canada V6E 4M3
Trading Symbols:
OTC BB - SLGLF
FRANKFURT - SLGL
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