Silverado Announces Continued High Grade Gold and Antimony Mineralization in Drill Cores at Nolan Creek



    VANCOUVER, Aug. 14 /CNW/ - Silverado Gold Mines Ltd. (the "Company" or
"Silverado") SLGLF OTCBB, SLGL Frankfurt, www.silverado.com, announced today
that it has completed 20 drill holes totaling 6,496 ft as part of its 2008
exploration drilling at Workman's Bench, the Company's prime exploration
target on its Nolan Creek property. This year's drilling has extended the
known lateral extent of the stibnite (antimony)-gold vein systems on Workman's
Bench from 600 ft to 1,000 ft. The Company has now received all assays of
mineralized veins for drill holes 08SH01B, 08SH02, 08SH03, 08SH07, 08SH08,
08SH09 and 08SH10. Assay results reveal grades as high as 2.68 troy ounces of
gold per ton in drill hole 08SH08, and 53.44% antimony in drill hole 08SH01B.
    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 NE 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. A NI 43-101
Technical Report regarding the Nolan Creek property, entitled "Estimation of
Lode and Placer Mineral Resources, Nolan Creek Wiseman B-1 Quadrangle, Koyukuk
Mining District, Northern Alaska" dated July 29, 2008, has been prepared by
Thomas K. Bundtzen of Pacific Rim Geological Consulting Inc. and is available
on SEDAR at www.sedar.com.
    This year's drilling on Workman's Bench has focused on defining the
lateral and vertical extent of the known gold and antimony mineralized zones,
in particular on the main exposed vein in underground exploration Tunnels C
and D. Information thus far indicates the gold and antimony mineralized zones
at Workman's Bench are open laterally and at depth. An updated drill hole
location map for these zones can be found on the Company's website on the
Nolan Creek project page at http://www.silverado.com/i/pdf/2008-08-13NRM1.pdf
    The Company has received all assays of mineralized veins for drill hole
08SH01B, 08SH02, 08SH03, 08SH07, 08SH08, 08SH09 and 08SH10. Drill holes
08SH04, 08SH05 and 08SH06 were only partially drilled and had to be abandoned
due to ground conditions. Selected drill hole assays are presented in the
table 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. Assays for the remaining drill
holes are pending. Drilling continues on the Workman's Bench Zone, as
warranted.

    
    -------------------------------------------------------------------------
     Drill        SAMPLE       SAMPLE      SAMPLE
     Hole        INTERVAL     INTERVAL     LENGTH
    Number        (FROM)        (TO)        (FT)     Au (oz/ton)       Sb (%)
    -------------------------------------------------------------------------
    08SH01B        32.6         33.2         0.6          0.00          8.24
    -------------------------------------------------------------------------
    08SH01B        33.8         35.2         1.4          0.28         53.44
    -------------------------------------------------------------------------
    08SH01B        95.7         96.4         0.7          0.23         28.69
    -------------------------------------------------------------------------
    08SH01B        98.2        101.2           3          0.13         18.43
    -------------------------------------------------------------------------
    08SH01B       105.8        106.3         0.5          0.06         13.43
    -------------------------------------------------------------------------
    08SH01B         108        108.5         0.5          0.02         26.05
    -------------------------------------------------------------------------
    08SH01B         139        139.5         0.5          0.02         16.36
    -------------------------------------------------------------------------
    08SH01B       141.6        142.2         0.6          0.01         19.87
    -------------------------------------------------------------------------
    08SH01B       146.7          148         1.3          0.22          0.08
    -------------------------------------------------------------------------
    08SH01B         148        149.2         1.2          0.06          6.44
    -------------------------------------------------------------------------
    08SH01B       170.7        171.2         0.5          0.03          3.66
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
     Drill        SAMPLE       SAMPLE      SAMPLE
     Hole        INTERVAL     INTERVAL     LENGTH
    Number        (FROM)        (TO)        (FT)     Au (oz/ton)       Sb (%)
    -------------------------------------------------------------------------
    08SH02         193         193.8         0.8          0.19          7.11
    -------------------------------------------------------------------------
    08SH02         216         216.5         0.5          0.15          2.40
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
     Drill        SAMPLE       SAMPLE      SAMPLE
     Hole        INTERVAL     INTERVAL     LENGTH
    Number        (FROM)        (TO)        (FT)     Au (oz/ton)       Sb (%)
    -------------------------------------------------------------------------
    08SH03         38.8         39.3         0.5          0.00          2.24
    -------------------------------------------------------------------------
    08SH03         41.4           42         0.6          0.42         42.05
    -------------------------------------------------------------------------
    08SH03           42         42.5         0.5          0.15         33.78
    -------------------------------------------------------------------------
    08SH03         58.1         58.6         0.5          0.01         17.84
    -------------------------------------------------------------------------
    08SH03         84.5           85         0.5          0.03         24.04
    -------------------------------------------------------------------------
    08SH03         89.5           90         0.5          0.11          0.07
    -------------------------------------------------------------------------
    08SH03        113.2        114.4         1.2          0.35          0.01
    -------------------------------------------------------------------------
    08SH03        115.4        115.9         0.5          0.12          0.08
    -------------------------------------------------------------------------
    08SH03        115.9          117         1.1          0.41         26.73
    -------------------------------------------------------------------------
    08SH03          117        117.5         0.5          0.36          0.07
    -------------------------------------------------------------------------
    08SH03        130.3        130.9         0.6          0.13         13.65
    -------------------------------------------------------------------------
    08SH03        161.5          162         0.5          0.14          0.01
    -------------------------------------------------------------------------
    08SH03        195.5          196         0.5          0.13          0.70
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
     Drill        SAMPLE       SAMPLE      SAMPLE
     Hole        INTERVAL     INTERVAL     LENGTH
    Number        (FROM)        (TO)        (FT)     Au (oz/ton)       Sb (%)
    -------------------------------------------------------------------------
    08SH07        171.5          172         0.5          0.06          3.95
    -------------------------------------------------------------------------
    08SH07          175        175.5         0.5          0.01          3.43
    -------------------------------------------------------------------------
    08SH07        181.5          182         0.5          0.02         17.54
    -------------------------------------------------------------------------
    08SH07        185.2        185.7         0.5          0.02         11.28
    -------------------------------------------------------------------------
    08SH07          201          202           1          0.30          0.03
    -------------------------------------------------------------------------
    08SH07        212.5          213         0.5          0.09          9.67
    -------------------------------------------------------------------------
    08SH07          221        221.8         0.8          0.15          21.1
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
     Drill        SAMPLE       SAMPLE      SAMPLE
     Hole        INTERVAL     INTERVAL     LENGTH
    Number        (FROM)        (TO)        (FT)     Au (oz/ton)       Sb (%)
    -------------------------------------------------------------------------
    08SH08        347.9        348.6         0.7          2.68          5.77
    -------------------------------------------------------------------------
    08SH08          375        375.5         0.5          0.61         34.77
    -------------------------------------------------------------------------
    08SH08        378.4        379.1         0.7          0.05         46.02
    -------------------------------------------------------------------------
    08SH08          380        381.2         1.2          0.50          8.89
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
     Drill        SAMPLE       SAMPLE      SAMPLE
     Hole        INTERVAL     INTERVAL     LENGTH
    Number        (FROM)        (TO)        (FT)     Au (oz/ton)       Sb (%)
    -------------------------------------------------------------------------
    08SH09        346.4        347.4           1          0.09          5.85
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
     Drill        SAMPLE       SAMPLE      SAMPLE
     Hole        INTERVAL     INTERVAL     LENGTH
    Number        (FROM)        (TO)        (FT)     Au (oz/ton)       Sb (%)
    -------------------------------------------------------------------------
    08SH10         90.2         91.6         1.4          0.28          4.39
    -------------------------------------------------------------------------
    08SH10        104.4        105.1         0.7          0.05          4.41
    -------------------------------------------------------------------------
    08SH10        106.3          107         0.7          0.10         20.36
    -------------------------------------------------------------------------
    08SH10        188.4        189.2         0.8          0.12         25.00
    -------------------------------------------------------------------------
    

    The assay results at Workman's Bench returned significant gold and
antimony grades in all drill holes assayed thus far. The highest gold grade
was encountered in drill hole 08SH08 in a 0.7 ft long sample of a
stibnite-quartz vein at 347.9 ft to 348.6 ft down hole. This sample assayed
2.68 troy ounces of gold per ton. The highest antimony grade was encountered
in a 5 inch true width stibnite-quartz vein in drill hole 08SH1B at 33.8 ft to
35.2 ft down hole. This particular vein assayed 53.44% antimony and 0.28 troy
ounces of gold per ton.
    All drill core was logged and photographed by 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. Specific antimony
samples of massive stibnite veins were delivered to Alaska Assay Laboratories
in Fairbanks for analysis. With the shipment to the laboratories 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
laboratories to assay duplicate samples of the pulp from the drill core.
    Silverado further announces that gold and antimony values from duplicate
samples of large vein samples collected underground from the main vein in
Tunnel D at four different sample locations assayed as high as 1.32 troy
ounces gold per ton and 68.77% antimony. These samples, which were sent to ALS
Chemex in Fairbanks for analysis, confirm the high grade nature of gold and
antimony mineralization within the main vein over a length of 67 ft in
Tunnel D.

    
    -------------------------------------------------------------------------
    Sample                  Sample                 Au
    Location                Number               oz/ton                Sb %
    -------------------------------------------------------------------------
        I                   707081                0.56                68.06
    -------------------------------------------------------------------------
       II                   707082                0.78                60.87
    -------------------------------------------------------------------------
      III                   707083                1.32                68.77
    -------------------------------------------------------------------------
       IV                   707084                0.27                66.26
    -------------------------------------------------------------------------
    

    Dr. Karsten Eden, Certified Professional Geologist, and Vice President
Exploration of Silverado, 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.

    ABOUT THE COMPANY

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

    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.





For further information:

For further information: Mailing Address: Suite 1820 - 1111 West Georgia
St, Vancouver, British Columbia, Canada, V6E 4M3; Trading Symbols: OTC BB -
SLGLF, FRANKFURT - SLGL; Telephone: (604) 689-1535, Facsimile: (604) 682-3519,
Toll Free: 1-800-665-4646 (Canada and USA only); Investor Relations: E-mail:
ir@silverado.com; Public Relations: E-mail: pr@silverado.com; Media Relations:
E-mail: jay@silverado.com

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SILVERADO GOLD MINES LTD.

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