Silverado Gold Mines Ltd. (fka SLGLF)

[MUSHROOMKING]

Silverado Announces New Drill Hole Assay Results at Nolan Creek that Continue to Disclose Gold and Antimony Mineralization


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VANCOUVER, BC, Canada, October 6, 2008. Silverado Gold Mines Ltd. (the "Company" or "Silverado") SLGLF OTCBB, SLGL Frankfurt, www.silverado.com, announces that it has now received all assays of mineralized veins for drill holes 08SH20 through 08SH24 from its drilling program on its Nolan Creek property. This season, the Company completed 34 drill holes totaling 11,597 ft as part of its 2008 exploration drilling at Workman's Bench, the Company's prime exploration target on its Nolan Creek property in Alaska. An updated drill hole location map for these zones can be found on the Company's website at http://www.silverado.com/i/pdf/2008-10-01_NCWBD.pdf.

Workman's Bench is the Company's prime exploration target for a lode gold and antimony deposit in the southwestern part of the Solomon Shear Zone. The Solomon Shear Zone contains northeast striking gold-antimony-quartz vein systems which also occur in other areas on the Nolan Creek property, including across Smith Creek on Pringle Bench and north of Smith Creek Dome.

Selected drill hole assays are presented in the tables below. Most samples of vein material contain gold. The reader should note that assay results listed in the table present results of individual veins sampled and cut from the drill core. Although there are many mineralized veins within the Workman's Bench zone, one particular vein, the main vein, continues to be the focus of interest to the company (for more information see press release dated August 14, 2008 http://www.silverado.com/i/pdf/2008-08-13_NR.pdf. Assays for the remaining drill holes 08SH25 to 08SH33 are pending.


Drill Hole Number Sample Interval (From) Sample Interval (To) Sample Length (ft) Au (toz/ton) Sb (%)
08SH20 242.6 243.3 0.7 0.03 3.32

Drill Hole Number Sample Interval (From) Sample Interval (To) Sample Length (ft) Au (toz/ton) Sb (%)
08SH21 305 305.5 0.5 0.04 16.96
08SH21 305.5 306.5 1 0.08 63.47
08SH21 312.7 313.5 0.8 0.41 30.20
08SH21 317 317.7 0.7 0.19 27.10
08SH21 317.7 318.7 1 0.02 4.85

Drill Hole Number Sample Interval (From) Sample Interval (To) Sample Length (ft) Au (toz/ton) Sb (%)
08SH22 226 227 1 0.02 7.23
08SH22 227 227.5 0.5 0.12 18.97
08SH22 252.8 253.3 0.5 0.14 0.02

Drill Hole Number Sample Interval (From) Sample Interval (To) Sample Length (ft) Au (toz/ton) Sb (%)
08SH23 194.5 195.5 1 0.52 18.24

Drill Hole Number Sample Interval (From) Sample Interval (To) Sample Length (ft) Au (toz/ton) Sb (%)
08SH24 99 100 1 0.09 19.58
08SH24 118.7 119.4 0.7 0.06 11.05
08SH24 198.6 199.1 0.5 0.02 1.91
08SH24 204.1 204.9 0.8 0.16 1.53
08SH24 204.9 205.5 0.6 0.34 28.72


Drilling continued to intersect the gold and antimony mineralization in the Workman's Bench zone from hole to hole as it proceeded in a southwestern direction.

All drill core was logged and photographed by Silverado geologists. Once all technical data was derived from the core, the core was cut lengthwise. The half-core was sampled by pre-determined intervals based on geology, and placed in sealed sample bags and labeled with the assigned sample number. All samples were delivered to ALS Chemex in Fairbanks for analysis. With the shipment to the laboratory of every 20th sample, the Company submitted two (2) standard samples, and one (1) blank sample for analysis. From time to time the Company instructed the laboratory to assay duplicate samples of the pulp from the drill core.

Dr. Karsten Eden, Certified Professional Geologist and European Geologist, and Vice President Exploration of Silverado Gold Mines Inc., is the qualified person as defined by Canadian National Instrument 43-101 for the Company and has verified the data contained in this news release.