Silverado Gold Mines Ltd SLGLF

NEWS TODAY!

[wjtanchak]

Here it is: Wednesday August 2, 2:42 pm Eastern Time PRESS RELEASE Company Steps-Up Commercialization Activity for Its Revolutionary New Fuel Product Alternative To the High Cost and Pollutant Dangers of Oil VANCOUVER, British Columbia and FAIRBANKS, Alaska, Aug. 2 /PRNewswire/ -- With the oil price currently in the U.S. $28 per barrel range, the discovery of a revolutionary new, clean-burning fuel that replaces many of the industrial applications for oil at a fraction of the cost could make a major contribution towards resolving future oil shortages and protecting the environment. Silverado (OTC Bulletin Board: SLGLF - news) is moving as quickly as possible towards commercialization of this new fuel process which could be produced for a cost as low as the equivalent of U.S. $7 per barrel of oil. The Company is working with the United States government and the State of Alaska to complete funding requirements for conversion of Silverado's mill in Alaska to produce the first commercial oil fuel substitute. The process involves the crushing and super-fine grinding of sub-bituminous coal followed by hydrothermal treatment to create what is known as Low-Rank Coal-Water Fuel. Unlike heavy oil or raw coal, sources for most of the world's air pollution, the new fuel is clean-burning and non-hazardous to the environment. In addition, Silverado has been working with other countries interested in the development of commercial plants for the new fuel. The most recent is the Malaysian government, which has expressed strong interest in becoming the world's first producer of the fuel. The fuel is intended for use primarily in industrial applications for heat and electrical generation, replacing heavy oil or raw coal as a fuel source. While no exact figures are available as to the market size, most energy experts agree that it will be a multi-billion dollar global market. Silverado, a public company trading on the OTC Bulletin Board, Symbol - SLGLF, is also a significant producer of gold with properties in Alaska. It has over 140,000 ounces of proven gold reserves and 133,000 ounces of probable gold reserves. It is also a supplier of world-class jewelry-grade gold nuggets. For more information view the company's website: www.silverado.com Once you enter the site -- you will see 2 press releases and a photo link about this exciting new fuel CONTACT: Garry Anselmo, President, [phone] or [phone] E-mail: [e-mail] Website: www.silverado.com Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks. SOURCE: Silverado