Silverado Gold Mines Ltd.
OTC Bulletin Board : SLGLF
FRANKFURT : SLGL

Silverado Gold Mines Ltd.

August 27, 2010 19:32 ET

Silverado Gold Mines Ltd.: Claim Rentals Paid and Five Year Permit Received

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2010) - Silverado Gold Mines Ltd. (OTCBB:SLGLF)(FRANKFURT:SLGL) (www.silverado.com) (the "Company" or "Silverado") has timely made its governmental mineral claim rental and royalty payments of US $94,000 and the claims are therefore in good standing.

In another matter: the Company received its exploration, drilling, and underground working permit as requested. The multi-use permit, which is typically assigned year by year, was issued for a five-year period.

The Company, in its 38 years working in Alaska, has always maintained an open and co-operative policy with the 51 individuals representing regulatory bodies who are responsible for environment, mine safety, wildlife, and a myriad of other disciplines.

Our policy of open discussion prior to permit application with the many highly qualified regulatory officials that represent governmental policy for the protection and stewardship of Alaska lands, its resources and people, has benefited Silverado immeasurably. This valued relationship has led to noteworthy achievements including federal government construction of a $1,000,000 road from the Dalton Highway, seven miles to the Nolan mine site, and the classification of Nolan as an industrial stream (one of only two in the State) thereby allowing the discharge of solid particles into the environment. Nonetheless, the Company has practiced in all cases and will continue to practice a policy of "zero discharge" to the environment.

As metallurgical work on the Nolan ore has shown it to be amenable to easy separation of its constituents, we have been able to achieve high rates of gold and antimony recovery using only water and gravity, thereby eliminating the need for the use of chemicals. Our continued efforts to develop and implement such practices, have allowed us to build an excellent working relationship with the governmental officials without whose invaluable input and assistance, success would not be possible.

On Behalf of the Board

Silverado Gold Mines Ltd,

G. L. Anselmo, President, CEO & COO

About the Company

Silverado Gold Mines Ltd, a publicly traded company, is an exploration-stage enterprise focused on the exploration of gold properties with some past production. The Company has gold properties located throughout Alaska, which include a 100 percent (%) interest in numerous mining claims located on the Nolan Creek property. The Company's wholly owned subsidiary, Silverado Green Fuel Inc, is involved with a new environmentally friendly low-rank coal water fuel technology. The fuel is designed to be produced from low-rank coal and processed into an environmentally friendly oil substitute. For more information about Silverado Gold Mines Ltd or Silverado Green Fuel Inc, please visit www.silverado.com and www.silveradogreenfuel.com, respectively.

Forward-Looking Statements

This news 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. Statements in this news release that are forward-looking statements are based on the current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates.

Such forward-looking statements involve risks and uncertainties regarding the market price of gold, availability of funds, government regulations, common share prices, operating costs, capital costs, outcomes of test mining activities and other factors. Forward-looking statements are made, without limitation, in relation to operating plans, property exploration activities, including test mining activities, availability of funds, environmental reclamation, operating costs and permit acquisition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", or "continue", and the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, you should consider various factors, including the risks detailed in the Company's filings with the Canadian Securities Authorities and the US SEC. These factors may cause the Company's actual results to differ materially from any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

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