Silverado Gold Mines Ltd. (fka SLGLF)

[MUSHROOMKING]

News Release
Silverado's Budget and Financing Review

Vancouver, British Columbia, April 27, 2009 -- Silverado Gold Mines Ltd (OTCBB: SLGLF) (Frankfurt: SLGL) (www.silverado.com) (the "Company" or "Silverado") has been reviewing its budget and financing requirements for the commencement of further exploration and early stage production at its Nolan Creek property in Alaska.

Silverado management and on site operations have embarked on a review of the financing requirements for the Nolan property. With the extensive work and operations that Silverado already has in place in Alaska, this review is considered a management review of the already established budgets. The primary objective is to ensure that development costs are still current and that the budgets are up to date.

With the review and agreement of these budgets, Silverado will then continue the current process of arranging financing of those operational budgets, exploration and near term production to meet the requirements of the work program.

Silverado has also commenced discussions with various finance groups for its senior financing requirements for the Nolan Creek project and with the finalization and acceptance of the budget, it will commence primary presentations to those parties.


About the Company

Silverado Gold Mines Ltd, a publicly traded company, is an exploration-stage enterprise focused on the exploration of gold properties with some past production. The Company has gold properties located throughout Alaska, which include a 100 percent (100%) interest in numerous mining claims located on the Nolan Creek property. The Company's wholly owned subsidiary, Silverado Green Fuel Inc, is developing a new environmentally friendly low-rank coal water fuel technology. The fuel is designed to be produced from low-rank coal and processed into an environmentally friendly oil substitute. For more information about Silverado Gold Mines Ltd or Silverado Green Fuel Inc, please visit www.silverado.com and www.silveradogreenfuel.com, respectively.