Silverado Gold Mines Ltd.
Silverado Gold Mines: ENERGY BILL PASSED
Corporate-news transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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UNITED STATES HOUSE OF REPRESENTATIVES AND SENATE
PASS LONG-AWAITED ENERGY APPROPRIATIONS BILL –
KEEPS FUNDING IN ALASKA DENALI COMMISSION
November 17, 2005 – Fairbanks, Alaska – USA – Vancouver, BC – Canada
SILVERADO – Frankfurt: SLGL / Berlin: SLGL / OTCBB: SLGLF
On Monday, November 14th, the United States Senate followed the House of
Representatives’ vote last week by approving the conference committee report
on the Energy and Water Development Appropriations bill (H.R. 2419) for the
fiscal year ending September 30, 2006.
Before a bill can become law, both the House and Senate must pass identical
legislation. This past summer both Houses of Congress passed their energy
appropriations bills. A conference committee comprised of members of the
Senate and House was established to reconcile the differences between the
House and Senate versions of the appropriation bill. This conference committee
has been working for the last several months to develop the final legislation
which passed Tuesday with the Senate voting 84 to 4 in favor of H.R. 2419.
The same bill passed the House of Representatives by a vote of 399 to 17 on
November 9th, 2005.
On August 8th the President signed into law the Energy Bill which contains
language authorizing the Denali Commission to utilize its funding for the Low-
Rank Coal-Water Fuel Project proposed by Silverado. Specifically, section 356
states that the “Commission shall use amounts made available .. to carry out
energy programs, including .. projects using coal as a fuel, including coal
gasification projects.” The just-passed H.R. 2419 (an appropriation bill)
includes $50 million for the Alaska Denali Commission.
“Our sources in Washington, D.C. told us that, because of the enormous
expenditures necessary to help the victims of hurricanes Katrina and Rita, all
Congressional committees were required to cut back their proposed
expenditures by billions of dollars, adversely affecting hundreds if not
thousands of projects. We are grateful that funding was still given to the
Denali Commission, and certainly are happy that Congress agreed, when it
passed the energy bill this summer, that our project would qualify to receive
funds through the Denali Commission,” said Garry Anselmo, Chairman and CEO of
Silverado Green Fuel Inc. “We look forward to working with the leadership of
the Denali Commission to move the LRCWF project ahead, and we also sincerely
appreciate Senators Lisa Murkowski and Ted Stevens and their foresight for
including a number of authorizing provisions in the original energy bill which
cover our project.” Anselmo continued, “In addition, we have been in
discussions with leaders in a number of states who have expressed interest in
placing our demonstration plants in their states as well. We are excited about
the prospect of making several important announcements in the near future
once the details are finalized.”
For further information regarding our innovative fuel as well as an update on
our Alaska gold properties, view our website at http://www.silverado.com or
call toll free from North America at 1-800-665-4646 or long distance from
offshore at 604-689-1535 and ask for ‘investor relations’
End of announcement (c)DGAP 18.11.2005
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