SILVERADO - OTCBB: SLGLF / Frankfurt: SLGL / Berlin: SLGL
FAIRBANKS, AK and VANCOUVER, Aug. 6 /CNW/ - Silverado announced today
that 1,250 ounces of nugget gold (1/4" and larger) have been recovered to date
since the start of sluicing operations in late June of this year.
These nuggets, which range in size from 1/10 ounce to 12.4 ounces, were
removed periodically from the top parts of the wash plant gold recovery
systems. Still to be recovered from the sluice plant this summer is gold
concentrate containing gold smaller than 1/4" in size.
Silverado is very pleased thus far with the results of the season. Total
gold recoveries and related financial numbers will be released as available
during the balance of the season.
Last season -- 2005-06 -- Silverado Gold Mines Ltd. recovered 939.07
ounces after sluicing 8,896 cubic yards of pay dirt. Of this amount, 750
ounces were jewelry-grade nuggets of 1/4" or larger, and the balance, or
189.07 ounces, was delivered for refining.
For this year, 2006-07 - Silverado is on track to substantially
outperform last year's production.
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.
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,
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, email@example.com,
http://www.silverado.com; Field Address, 3180 Peger Rd, Ste 270, Fairbanks,
AK, 99709-5485, USA