Silverado Gold Mines Ltd SLGLF

Silverado's Nolan Project Hits Gold

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Silverado's Nolan Project Hits Gold 09:30 EST Monday, February 06, 2006 SILVERADO - OTCBB: SLGLF / Frankfurt: SLGL / Berlin: SLGL FAIRBANKS, AK, and VANCOUVER, Feb. 6 /PRNewswire-FirstCall/ - Visit this weblink to view supplementary images to this press release: https://www.silverado.com/february062006 The crews at our Nolan Gold Project located in Alaska's Arctic Circle 280 miles north of Fairbanks, have completed the first important leg of the Swede Channel winter tunneling project. The tunnel has successfully reached the virgin ground section of the Swede Channel at the bedrock gravel contact level. We have encountered gold in the floor of Swede Channel. The frozen pay gravel is being stockpiled in preparation for thawing and sluicing in June and July of 2006 to remove the gold for sale. A bulk sample of 7625 bank cubic yards of gravel was taken from this area in 1998-1999 and yielded 623 ounces of gold, or 0.08oz/yard. In prior years Silverado extracted approximately $10 million in jewelry grade gold from various areas of this large property and the gold sold for an average premium of 33% over gold price due to the high purity (22.3 to 23.4k or 93% to 97% pure gold) and due to its abundant character. Please pause here with us for a moment to remember the coal miners who have so tragically lost their lives recently in America and elsewhere. We also reflect on how much we appreciate the truly phenomenal work our miners perform underground through the bitter cold winters of Arctic Alaska, while using their good work and safety skills to produce gold for the Company and its shareholders under the professional talent and watchful eye of Mr. Gil Dobbs, their mine superintendent and leader. This press release was prepared by Edward J. Armstrong, CPG, a qualified person under NI 43-101 standards. To learn more about Silverado Gold Mines Ltd., visit us online at https://www.silverado.com or contact Bob Dynes, Investor relations, toll free at 1-800-665-4646. Silverado Gold Mines Ltd. Mailing Address: 505 - 1111 W. Georgia Street, Vancouver, B.C., V6E 4M3, CA, [phone] or [phone], F: [phone], [e-mail], www.silverado.com Field Address: P.O. Box 83730, Fairbanks, Alaska, 99708, USA 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. SOURCE Silverado Gold Mines Ltd. For further information: Silverado Gold Mines Ltd., Mailing Address: 505 - 1111 W. Georgia Street, Vancouver, B.C., V6E 4M3, CA, [phone] or [phone], F: [phone], [e-mail], www.silverado.com; Field Address: P.O. Box 83730, Fairbanks, Alaska, 99708, USA © Copyright PR Newswire