Silverado's Initial Underground Exploration Assay Results Show High Gold and Antimony Grades Comparable to Many of Today's Producing Mines



    VANCOUVER, March 24 /CNW/ - Silverado Gold Mines Ltd (Trading Symbols,
OTC BB - SLGLF, FRANKFURT - SLGL) - Silverado Gold Mines Ltd. announces the
second set of strong assay results from its most recent underground
exploration at Workman's Bench.

    Executive Briefing
    ------------------
    An Executive Briefing may facilitate readers and investors to better
understand the significance of recent Silverado assay findings. Silverado Gold
Mines Ltd. assay results from samples collected underground from individual
quartz and antimony-quartz veins demonstrated gold grades as high as
1.04 toz/ton (35.80 g/ton), in addition to antimony grades up to 64.34%.
    "The Silverado assay results are most encouraging," stated
Garry L. Anselmo, "and are highly indicative that all of our exploration,
drilling and sampling work at Workman's Bench (Nolan Creek, Alaska), has been
paying off. Our 2008 Nolan Creek Exploration Plan has recently been completed.
Five million dollars financing has been secured to carry out our 2008 Plan. It
is important to note that all mine infrastructure is paid up and in place,
including all materials, equipment and permits. Our people are preparing to
re-commence activities in anticipation of the Arctic Alaska winter to end,
which should be sometime in April. All of this has been progressively reported
in our Press Releases. If you follow the trend, you will see news shaping up
at Silverado."

    "Is 2008 The Next Breakout Year For Silverado Gold Mines Ltd.?"
    http://www.silverado.com/pressroom/pressreleases/05032008.htm (Mar 5 08)

    Silverado's assays also indicate a strong presence of antimony (58.76 -
64.34%). The domestic (U.S.) antimony market is approximately 70,000,000
pounds per year (valued at more than $200,000,000), and is growing at an
annual rate of 6.8% per year.

    "Silverado Can Supply Growing $200 Million Antimony Market"
    http://www.silverado.com/pressroom/pressreleases/09012008.htm (Jan 9 08)

    "We are often asked why Silverado is not in actual production yet,"
continued Mr. Anselmo. "Well, geological, geochemical and geophysical testing
has highlighted the most likely and best defined sites to explore. We have
carried out selective drilling, and even did underground exploration
throughout the wintertime."
    "With the assay results, we now know what the potential high yield gold
(and antimony) deposits can consist of, and that is exciting. However, it is
now critical to determine the nature and width of the mineralized zones below,
the width of the veins within them, the access angle we need to use, and,
ultimately, what Silverado might expect in terms of the yield per ton of the
potential ore bodies themselves. The continued drilling and sampling will
direct our next stage Production Plan."
    Mr. Anselmo concluded, "The results would also allow our own Certified
Professional Geologist, in conjunction with third party professional mining
consultants, to estimate gold and antimony reserves, and their dollar value.
This would be based on estimated ore body size and grade."

    The balance of this Press Release was prepared by Dr. Karsten Eden,
Certified Professional Geologist; who is a qualified person as defined under
the standards of Canadian National Instrument policy 43-101. Only the balance
of this Press Release can be considered certified.

    
     All Assay Results from Underground Exploration Program at Workman's
     Bench Disclosed - Gold Grades as high as 1.04 toz/ton, and Antimony
     Grades up to 64.34% in Tunnel A and as high as 0.7 toz of Gold/ton
                       and 58.76% Antimony in Tunnel C
    

    Silverado Gold Mines announced today that it has received all assays from
its first phase underground exploration program on Workman's Bench. Workman's
Bench is the company's prime exploration target for a lode gold and antimony
deposit in the southwestern part of the extensive Solomon Shear Zone.
Underground sampling has disclosed high grade gold and antimony
mineralization. Gold and antimony values from samples collected from
individual veins in Tunnel A assayed as high as 1.04 troy ounces gold per ton
(35.8 g/t Au) and 64.34% antimony (see
http://www.silverado.com/i/pdf/Figure-1.pdf). Samples collected from
individual veins in Tunnel C assayed as high as 0.7 troy ounces gold per ton
(24 g/t Au) and 58.76% antimony (see Table 1).
    During winter 2007/08, Silverado Gold Mines drove an exploration tunnel
into the Workman's Bench mineralized zones to intersect the gold bearing
antimony-quartz vein systems. During this first phase underground exploration
program, numerous quartz and antimony-quartz veins were exposed. To date three
main mineralized zones have been identified through the correlations between
the underground observations with the drill intercepts from the 2007 Workman's
Bench drilling program (see http://www.silverado.com/i/pdf/Figure-1.pdf). The
Workman's Bench mineralized zones have been confirmed over a strike length of
600 feet. They are well defined and contain antimony and gold bearing veins
each of which are generally larger in width (up to one foot) than at the other
drilled gold and antimony prospects (the Hillside and Pringle Bench) within
the Solomon Shear Zone. This is not only evidenced by drilling, but also by
underground and surface observations. The gold and antimony mineralized zones
at Workman's Bench are open laterally and at depth.
    A total of 28 samples from quartz and antimony-quartz veins exposed in
the mineralized zones underground were collected at 12 sample locations (see
http://www.silverado.com/i/pdf/Figure-1.pdf) and were sent to ALS Chemex in
Fairbanks for analysis.

    
    Table 1: All Gold and Antimony values for samples collected at sample
    locations 1 to 12.

    -------------------------------------------------------------------------
    Sample
    Location      Sample Number    Gold (g/t)   Gold (toz/ton)   Antimony (%)
    -------------------------------------------------------------------------
    1             WBUG1 S1              0.24            0.007          46.69
    -------------------------------------------------------------------------
    1             WBUG1 S2              0.03            0.001          64.34
    -------------------------------------------------------------------------
    2             WBUG2 S1              0.26            0.008           5.67
    -------------------------------------------------------------------------
    3             WBUG3 S1             23.30            0.680          52.10
    -------------------------------------------------------------------------
    3             WBUG3 S2             11.35            0.331          57.89
    -------------------------------------------------------------------------
    3             WBUG3 S3              1.07            0.031           6.09
    -------------------------------------------------------------------------
    3             WBUG3 S4             15.55            0.454          55.71
    -------------------------------------------------------------------------
    3             WBUG3 S5             15.30            0.446           1.11
    -------------------------------------------------------------------------
    4             WBUG4 S1              0.44            0.013          32.52
    -------------------------------------------------------------------------
    4             WBUG4 S2              0.72            0.021           0.10
    -------------------------------------------------------------------------
    5             WBUG5 S1              1.81            0.053          21.02
    -------------------------------------------------------------------------
    5             WBUG5 S2             35.80            1.044          50.04
    -------------------------------------------------------------------------
    5             WBUG5 S3              1.09            0.032          13.38
    -------------------------------------------------------------------------
    6             WBUG6 S1              1.57            0.046           0.30
    -------------------------------------------------------------------------
    6             WBUG6 S2              0.54            0.016           0.08
    -------------------------------------------------------------------------
    7             WBUG7 S1              0.06            0.002          43.94
    -------------------------------------------------------------------------
    8             WBUG8 S1             12.40            0.362          57.52
    -------------------------------------------------------------------------
    8             WBUG8 S2              5.03            0.147          58.76
    -------------------------------------------------------------------------
    8             WBUG8 S3             24.00            0.700          58.02
    -------------------------------------------------------------------------
    9             WBUG9 S1              2.92            0.085          33.92
    -------------------------------------------------------------------------
    9             WBUG9 S2              4.47            0.130          17.34
    -------------------------------------------------------------------------
    9             WBUG9 S3              3.23            0.094           8.74
    -------------------------------------------------------------------------
    9             WBUG9 S4             17.75            0.518           7.34
    -------------------------------------------------------------------------
    9             WBUG9 S5              1.78            0.052           0.04
    -------------------------------------------------------------------------
    10            WBUG10 S1             2.26            0.066           1.36
    -------------------------------------------------------------------------
    11            WBUG11 S1             1.56            0.046           0.03
    -------------------------------------------------------------------------
    12            WBUG12 S1             4.89            0.143           0.02
    -------------------------------------------------------------------------
    12            WBUG12 S2             4.45            0.130           0.01
    -------------------------------------------------------------------------
    

    Gold and antimony values from samples collected from individual veins at
various points between sample locations 1 to 12 assayed as high as 1.04 troy
ounces gold per ton (35.8 g/t Au) and 64.34% antimony. These assays confirm
that high grade gold and antimony mineralization occurs in the Workman's Bench
mineralized zones. Silverado Gold Mines plans to conduct a channel sampling
program in April 2008 in the existing exploration tunnels, where defined
channel samples will be cut across the mineralized zones. In addition, the
company intends to undertake a mineralogical sampling campaign to obtain a
better understanding of the metallurgical characteristics of the gold and
antimony ores of the Workman's Bench area.
    Workman's Bench is part of the Solomon Shear Zone that contains NE
striking gold-antimony-quartz vein systems. These vein systems occur not only
on Workman's Bench, but also across Smith Creek to Pringle Bench, further up
on the Hillside, and have also been located north of Smith Creek Dome.
    The NE striking gold-antimony-quartz-vein system represents the
borderline between mesothermal (medium temperature) and epithermal (low
temperature) mineralization. Several authors place the gold-antimony quartz
vein systems in the southern Brooks Range in the lower temperature part of the
mesothermal vein type deposit system.
    Silverado Gold Mines is planning an extensive drilling program at
Workman's Bench to define the gold and antimony mineralization at depth over a
strike length of 1,500 feet from Smith Creek, down to the Nolan landing strip.
Once this program is completed, drilling will continue on Pringle Bench. The
drilling program at Pringle Bench will be designed to intersect the gold and
antimony mineralized zones at the Workman's Bench level. The gold and antimony
mineralized zones at Workman's Bench and Pringle Bench are both open laterally
and at depth.
    Further underground exploration of the Workman's Bench and possibly
Pringle Bench will be dependant on current assays combined with the assay data
gained from this spring and summer's drilling program as well as full channel
samples to be cut in the Workman's Bench mineralized zone.

    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.
Trading Symbols - OTC BB - SLGLF, FRANKFURT - SLGL. Silverado Gold Mines Ltd.
www.silverado.com

    To learn more about Silverado Green Fuel Inc. and watch the Green Fuel
    Video, visit: www.silveradogreenfuel.com

    More Information? http://www.silverado.com/investors/request/

    This Press 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. These statements are based on management's expectations and
beliefs, and involve risks and uncertainties. These statements may involve
known and unknown risks and uncertainties and other factors that may cause the
actual results to be materially different from the results implied herein.
Readers are cautioned not to place undue reliance on the forward-looking
statements made in this Press Release.





For further information:

For further information: Suite 1820 - 1111 West Georgia Street,
Vancouver, British Columbia, Canada V6E 4M3, Telephone: (604) 689-1535,
Facsimile: (604) 682-3519; Investor Relations: E-mail: ir@silverado.com; Media
& Public Relations: E-mail: jay@silverado.com, Toll Free: 1-800-665-4646
(Canada and USA only)

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