High grade gold disclosed during Nolan Lode Exploration Program



    High grade trend appears to be developing

    SILVERADO - OTCBB: SLGLF/Frankfurt: SLGL/Berlin: SLGL

    FAIRBANKS, AK, and VANCOUVER, Aug. 8 /CNW/ - Silverado announces that
backhoe trenching during the continued exploration of the five-mile long
Solomon Shear zone on its Nolan Gold Mine located 280 miles North of
Fairbanks, Alaska, has disclosed a 16.4 foot (5 m) continuous chip sample
grading 5.22 ounces per ton (179 grams) gold, and 8.74% antimony by ore assay.
Due to the exceptionally high content of gold assayed, a second sample was
successfully re-assayed at the ALS Chemex Lab confirming this high value.
    In addition to the high gold assay found in Trench H, high antimony
values were also found. Significant gold values were found in all of H, G and
J Trenches. The antimony values reached as high as 30%. These high antimony
values are consistent with the previous work in this vicinity where sampling
showed antimony assays as high as 46% (see press release January 29, 2007).
    Solomon Shear is a highly mineralized gold-bearing system that extends
over five miles on Silverado's Nolan property. It has been the focus of
Silverado's extensive exploration program, which includes geophysical and
geochemical surveys in addition to the trenching program. All of Silverado's
"downstream" placer gold recoveries indicate likely sources higher in the
Solomon Shear system. The company is just in the beginning stage of exploring
these possible source areas.
    Silverado Gold Mines is very pleased with these results and we continue
to expand on our knowledge of this discovery. Old time miners and Silverado
combined have removed more than 140,000 ounces of gold nuggets and dust from
the lower benches of Smith Dome and below Solomon's Shear. Our 2006 trench and
drill results confirmed the existence of high-grade gold-antimony-quartz veins
in the Solomon Shear. Our highest assay reading from 2006 was 0.83 ounces per
ton (see press release January 22, 2007). Now, we are encountering suspected
source materials that have assayed considerably higher than those from 2006.
This recently discovered high-grade area is under current exploration by
further trenching and an extensive drilling program. This drilling, using our
recently purchased diamond drill, will begin shortly and continue as long as
weather permits.
    In June and July 2007, Silverado Gold Mines conducted backhoe trenching
on its Nolan Creek property, totaling 328m (1076.12ft), to further investigate
the gold bearing antimony-quartz vein systems previously identified in 2006
(see press releases from July 16, 2007, January 29, 2007 and January 22,
2007). A total of 107 combined select chip and continuous chip rock samples
were collected during the trenching program and submitted to ALS Chemex in
Fairbanks for analysis. To date, Silverado Gold Mines has received the assays
for three of the four trenches.
    Trench G extends over 72.5m (237.86ft) and is located 25 meters northeast
of Trench F (see Fig. 1 - http://www.silverado.com/august082007/figure1.htm).
A total of 18 combined select chip and continuous chip rock samples were
collected during the trenching program. Sample interval 50-55m (16.4 feet)
contains 4.31% antimony (Sb). A select sample of an antimony vein from within
this interval assayed 24.60% (see Table 1).

    
    Table 1: Trench G assay results greater than 0.3 g/t Gold or 0.15%
    Antimony.

    -------------------------------------------------------------------------
    Trench G - 72.5m
    -------------------------------------------------------------------------
    Sample     Sample     Sample     Sample         Gold      Gold     Anti-
                                                grams/tonne  Toz/short  mony
    Number    Interval    Width       Type        (metric)     ton       %
    -------------------------------------------------------------------------
                                    Continuous
    07G11      50-55m        5m      chip            0.30     0.01      4.31
    -------------------------------------------------------------------------
               53.50-
    07G17N     53.52m     0.02m    Select chip       1.73     0.05     24.60
    -------------------------------------------------------------------------
               53.50-
    07G18S     53.58m     0.08m    Select chip       2.71     0.08      0.15
    -------------------------------------------------------------------------
    

    Trench H, 25m (82.02ft) in length, is located 43 meters northeast of
Trench F (see Fig. 1 - http://www.silverado.com/august082007/figure1.htm). A
total of 6 combined select chip and continuous chip rock samples were
collected during the trenching program. Sample interval 5-10m contains 2.62%
antimony (Sb) and 0.02 troy ounces of gold per ton. Sample interval 10-15m was
assayed with 5.22 troy ounces per ton of gold and 8.74% antimony (see
Table 2). This interval was re-assayed for gold by ALS Chemex and yielded 5.04
troy ounces per ton of gold. A select sample of an antimony vein from within
this interval was assayed with 0.11 troy ounces per ton of gold and more than
1% Sb (total Sb analysis is pending). Intervals 5-10 and 10-15 are currently
being further investigated by Silverado exploration geologists as the data
obtained to date appears to indicate the possibility of a high grade trend.

    
    Table 2: Trench H assay results greater than 0.3 g/t Gold or 1% Antimony.

    -------------------------------------------------------------------------
    Trench H - 25m
    -------------------------------------------------------------------------
    Sample     Sample     Sample     Sample         Gold      Gold     Anti-
                                                grams/tonne  Toz/short  mony
    Number    Interval    Width       Type        (metric)     ton       %
    -------------------------------------------------------------------------
                                    Continuous
    07H2        5-10m        5m      chip            0.77     0.02      2.62
    -------------------------------------------------------------------------
                                    Continuous
    07H3       10-15m        5m      chip          179.00     5.22      8.74
    -------------------------------------------------------------------------
                                                                    (greater
               10.30-                                                   than)
    07H6       10.32m     0.02m    Select chip       3.82     0.11        1%
    -------------------------------------------------------------------------
    

    Trench J (Workman's Bench Trench), 38m (124.7ft) in length, was dug south
of Smith Creek, in the old Workman's Bench pit, located within in the
south-westward extension of the Solomon Shear trend. This trench exposed the
largest antimony veins discovered in the area to date, with widths up to 24 cm
(9.8 inch). A total of 15 continuous chip rock samples (2.5m composite) were
collected during the trenching program. Out of these 15 samples, 7 show
antimony values from 1.7% to 30.3% (see Table 3). 5 samples show values higher
than 0.01 ounces per ton gold, ranging from 0.01 to 0.12 ounces per ton gold.

    
    Table 3: Trench J (Workman's Bench) assay results greater than 0.04 g/t
    Gold or 1% Antimony.

    -------------------------------------------------------------------------
    Trench J (Workman's Bench) - 38m
    -------------------------------------------------------------------------
    Sample     Sample     Sample     Sample         Gold      Gold     Anti-
                                                grams/tonne  Toz/short  mony
    Number    Interval    Width       Type        (metric)     ton       %
    -------------------------------------------------------------------------
                                    Continuous
    4WT       7.5-10m      2.5m      chip            0.04     0.00       1.7
    -------------------------------------------------------------------------
                                    Continuous
    10WT     22.5-25m      2.5m      chip            0.14     0.00      30.3
    -------------------------------------------------------------------------
                                    Continuous
    11WT     25-27.5m      2.5m      chip            0.22     0.01      1.72
    -------------------------------------------------------------------------
                                    Continuous
    12WT     27.5-30m      2.5m      chip            1.27     0.04      11.7
    -------------------------------------------------------------------------
                                    Continuous
    13WT     30-32.5m      2.5m      chip            4.17     0.12      29.3
    -------------------------------------------------------------------------
                                    Continuous
    14WT    32.5m-35m      2.5m      chip            0.55     0.02      2.56
    -------------------------------------------------------------------------
                                    Continuous
    15WT       35-38m        3m      chip            0.54     0.02     14.05
    -------------------------------------------------------------------------
    

    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.

    About Silverado:

    Silverado is an international company focused on Gold and a new
environmentally friendly Fuel Technology. Silverado has gold properties
located throughout Alaska, which include the 100% owned Nolan Placer Gold
Mine. Silverado is also entering the construction phase of an environmentally
friendly low cost strategic fuel demonstration facility. Silverado's Green
Fuel will 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 about Silverado Green Fuel Inc., please visit
http://www.silveradogreenfuel.com/ and the parent public corporation,
http://www.silverado.com/.

    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: SILVERADO GOLD MINES LTD., Mailing Address, 505
1111 W. Georgia Street, Vancouver, B.C., V6E 4M3, CA, Toll Free: (800)
665-4646 or (604) 689-1535, Fax: (604) 682-3519, pr@silverado.com,
http://www.silverado.com; Field Address, 3180 Peger Rd, Ste 270, Fairbanks,
AK, 99709-5485, USA

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