Silverado Re-Evaluating its Gold Properties under RevisedGuidelines of Canadian

[Scubawarrior]

This longitudinal section of Silverado's Grant Gold Mine on Ester Dome 10 minutes from Fairbanks, Alaska shows areas test mined by the Company. Also shown are drill results which support indicated resource tonnage and grades and other areas of gold mineralization. This "O'dea" system is open to further discovery at both ends and at depth below 1000'. Test mining was completed during 1983-1989 when operations ceased due to low gold prices. Drilling was performed from 1979-1994 . Recent higher gold prices has Silverado re-examining data. During 2004 two independant NI 43-101 qualified person technical reports were completed on this property and other Silverado Alaska holdings. The Company is conducting pre-feasibility studies on this project and the other Ester Dome holdings within the St. Paul and Ethel Elmes areas of the property. Those drawings will be forthcoming. All work except for the two independant technical reports has been done under the direction of Edward J. Armstrong, CPG, President of Silverado¹s Alaska subsidiary and a qualified person under the guidelines of NI 43-101.

Note: National Instrument 43-101 has also caused Silverado as well as most mining companies to downgrade some or all gold in the reserve category to the resource category. Silverado as well as others who are U.S. reporting have as a result been required to amend financial statements to reflect the expensing of prior capitalized items. This total process has taken over one year and final statements were filed on Edgar and Sedar June 1, 2005.               

About Silverado Gold Mines Ltd.

Silverado has been exploring, developing and test mining gold deposits in Alaska  since 1978. The Company uses its varied technical skills to acquire, assess and develop gold deposits with the intention of conducting test mining operations on worthy targets. From time to time partnerships or options are negotiated with other companies to assist in exploration of large areas of prospective property.



Silverado's wholly owned Alaska subsidiary, Silverado Green Fuel Inc. is  working on the development of a coal-based fuel which acts as an industrial alternative to oil and can replace a barrel of oil at a cost of production of approximately US $14 per barrel. This fuel will be used for the generation of electricity and industrial heat. This is an environmentally friendly fuel and if spilled it quickly breaks down into its components of water and coal particles.


                 
Silverado Gold Mines Ltd.
505-1111 West Georgia Street
Vancouver, British Columbia
Canada - V6E 4M3

TOLL FREE: 1.800.665.4646

TEL: 604.689.1535
FAX: 604.682.3519

EMAIL:  [email protected]
WEB: www.silverado.com  <http://www.silverado.com>




Cautionary Note to U.S. Investors concerning estimates of Indicated Resources and Mineralized Material.

The map above uses the term 'indicated resource'. Silverado advises U.S. investors that while this term is recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize this term. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in this category will ever be converted into reserves. This applies even more so to "mineralized material".





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.