Silverado Gold Mines Ltd.
Nolan Gold Project
Silverado Gold Mines Ltd. / Final Results/Quarter Results Corporate news transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- NOLAN GOLD PROJECT -- MORE HIGH GRADE GOLD ORE FOUND WHILE MINING THE SWEDE CHANNEL -- -- DRILLING MARY’S EAST ORE BODY DISCLOSES ADDITIONAL HIGH GRADE ORE -- JANUARY 04, 2007 - Fairbanks, Alaska – USA - Vancouver, BC – Canada SILVERADO - OTCBB: SLGLF / Frankfurt: SLGL / Berlin: SLGL Silverado Gold Mines Ltd. is pleased to announce that placer mining in the remaining underground portions of the Swede Channel on its Nolan property ( remaining from 2005 – 06 mining of this area ) is over 70% complete although we have encountered considerably more ore than was indicated by our limited drilling. We now have in excess of 8,000 loose cubic yards of pay gravel on the surface pile. This year’s ore does not contain low grade exploration and development material and will therefore yield a significantly higher grade than last year. Also, the Mary’s East ore zone has been portalled and entered. Should time permit on completion of mining of the Swede zone to surface, then mining will proceed on Mary’s East until cessation of winter mining as spring sets in. At this point we begin the process of sluicing the ore pile to remove the gold for sale. We are going to have a good year with more of them to follow. ( Visit this web link to view a map of the Nolan Gold Project: http://www.silverado.com/nolancreek2006 ) We are also pleased to announce that in-fill placer drilling of 10 holes at the Mary’s East Gold Deposit resulted in the discovery of more gold. Out of these 10 drillholes, 9 holes show values greater than 0.01 troy ounces of gold per bank cubic yard ( Toz/bcy ), ranging from 0.03 Toz/bcy to 1.72 Toz/bcy ( See Table 1 Below ). These good placer drill results indicate that the already drill indicated gold rich Mary’s East Deposit contains more gold than previously estimated. The extremely high drill result of 1.72 Toz/bcy was the second highest with 2004 drilling hitting a 5.76 Toz/bcy assay within the same ore body. TABLE 1 ROTARY DRILLHOLE # INTERSECTION DEPTH FROM SURFACE SAMPLE WIDTH TROY OUNCES GOLD PER BANK CUBIC YARD 06MB22 40 - 45 ft 5 ft 0.17 06MB22 45 - 50 ft 5 ft 1.72 06MB23 45 - 50 ft 5 ft 0.13 06MB24 45 - 48 ft 3 ft 0.04 06MB26 30 - 35 ft 5 ft 0.07 06MB26 35 - 40 ft 5 ft 0.77 06MB27 25 - 30 ft 5 ft 0.52 06MB28 30 - 32 ft 2 ft 0.07 06MB29A 18 - 22 ft 4 ft 0.03 A first phase exploration drilling program was also carried out on Silverado Gold Mines newly acquired placer claims, in particular the Topnotch prospect. A total of 9 holes were drilled, of which 2 yielded values greater than 0.01 Toz/bcy ( See Table 2 Below ). Since bedrock is shallow in the area, the Topnotch prospect could have significant open pit mining potential. Further drilling in spring 2007 will test for additional economic placer grades. Certainly the very high grade of over 1 Toz/bcy confirms the continuance of high grade placer gold throughout this small part of the 11 square mile Silverado property. TABLE 2 ROTARY DRILLHOLE # INTERSECTION DEPTH FROM SURFACE SAMPLE WIDTH TROY OUNCES GOLD PER BANK CUBIC YARD 06BT02 10 - 15 ft 5 ft 0.02 06BT08 10 - 15 ft 5 ft 1.02 Silverado Gold Mines Ltd. is currently planning its active exploration program for 2007. Placer exploration will focus on the northward and southward extension of the Mary’s East Gold Deposit, Workman’s Bench and the company’s newly acquired adjoining Topnotch placer claims. This press release was prepared by Edward J. Armstrong, Certified Professional Geologist; who is a qualified person as defined under the standards of Canadian National Instrument policy 43-101. To learn more about Silverado Gold Mines Ltd., visit us online at http://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 (800) 665-4646 or (604) 689-1535 • F: (604) 682-3519 • pr@silverado.com • http://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. Value Relations GmbH Tel.: 069-9592490 E-mail: HTUSLGL@vrir.de DGAP 04.01.2007 ---------------------------------------------------------------------- Language: English Issuer: Silverado Gold Mines Ltd. 505-1111 West Georgis Street V6E 4M3 Vancouver, BC Kanada Phone: 1-800-665-4646 Fax: 604-682-3519 E-mail: pr@silverado.com WWW: www.silverado.com ISIN: CA8279062076 WKN: 867737 Indices: Listed: Freiverkehr in Berlin-Bremen; Open Market in Frankfurt; Foreign Exchange(s) Nasdaq End of News DGAP News-Service ---------------------------------------------------------------------------
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