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Silverado's Nolan Property in Early Breakup

VANCOUVER, April 22 /CNW/ - Silverado Gold Mines Ltd (the "Company" or "Silverado") (OTCBB: SLGLF, Frankfurt: SLGL, www.silverado.com is pleased to announce that an early thaw and breakup is being managed by our crew on the Nolan Gold/Antimony Mine in Alaska. Breakup should be over by mid May to early June and that would allow us to begin early diamond drilling for the 2009 season. Our goals will be to increase our probable reserves on the Workman's Bench part of the property. Currently 42,412 tons of ore grading 28% antimony and 0.408 oz gold/ton and containing 11,880 tons of antimony metal and 17,300 oz of gold are disclosed in our Qualified Person's Report of January 1, 2009 (also known as a Canadian National Instrument 43-101 qualified Pre-feasibility Report). Using a gold price of $US 700/oz with antimony at $2.25/lb as well as recoveries of 90% for gold and 85% for antimony, this reserve represents $US 56.3 Mln. The Qualified Person's summary of relevant operating costs is $US 22.2 Mln. The pre-tax profit therefore is $US 34.1 Mln. Except for a State Mining Tax of $US 0.8 Mln, corporate taxes are offset by the Company's $US 35 Mln tax loss carry-forward. We intend to finalize a schedule for our 2009 diamond drilling program in the coming days.

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.

Forward-Looking Statements This news release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release that are forward-looking statements are based on the current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Such forward-looking statements involve risks and uncertainties regarding the market price of gold, availability of funds, government regulations, common share prices, operating costs, capital costs, outcomes of test mining activities and other factors. Forward-looking statements are made, without limitation, in relation to operating plans, property exploration activities, including test mining activities, availability of funds, environmental reclamation, operating costs and permit acquisition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", or "continue", and the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, you should consider various factors, including the risks detailed in the Company's filings with the Canadian Securities Authorities and the US SEC. These factors may cause the Company's actual results to differ materially from any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

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For further information: Silverado Gold Mines Ltd: Mailing Address: Suite 1820 - 1111 West Georgia Street, Vancouver, BC, V6E 4M3, Canada, Email: Investor Relations: ir@silverado.com, Public Relations:Telephone Numbers: Corporate: (604) 689-1535, Facsimile: (604) 682-3519, Toll Free: 1-800-665-4646 (Canada and USA only); Trading Symbols: OTC BB: SLGLF FRANKFURT: SLGL

 
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