SILVERADO'S MANAGEMENT PLAN OF OPERATION
for the quarterly period ended: February 29, 2008

FORM 10-QSB,
http://www.pinksheets.com/edgar/GetF...

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Management’s plan of operation for the next twelve months is discussed below:

I. MINING

NOLAN GOLD PROPERTY - Lode and Placer Exploration

During the first three months of our fiscal year, exploration concentrated on the Workman’s Bench gold and antimony mineralized zones on our Nolan Property. During December 2007 and January 2008, the Company drove an exploration tunnel (totaling 553 feet) into the Workman's Bench mineralized zones to intersect the gold bearing antimony-quartz vein systems. During this first phase underground exploration program, numerous quartz and antimony-quartz veins were exposed. To date three main mineralized zones have been identified through the correlations between the underground observations with the drill intercepts from the 2007 Workman's Bench drilling program. The Workman's Bench mineralized zones have been confirmed over a strike length of 600 feet and are open laterally and at depth.

A total of 28 samples from quartz and antimony-quartz veins exposed in the mineralized zones underground were collected at 12 sample locations, and were sent to ALS Chemex in Fairbanks for analysis. Gold and antimony values from samples collected from individual veins at various points between sample locations 1 to 12 assayed as high as 1.04 troy ounces gold per ton (35.8 g/t Au) and 64.34% antimony. These assays confirm that high grade gold and antimony mineralization occurs in the Workman's Bench

Further to the Company's geological, geochemical and geophysical discoveries from the 2007 exploration season, the Company plans to continue with follow-up exploration at the Nolan Lode properties within the Nolan Gold Project. The objective of this follow-up exploration program is to further define and, where warranted, assess lode gold and antimony occurrences at the Nolan Gold Project. The Company’s follow-up lode exploration work is intended to increase our geological knowledge on the Solomon Shear Zone, the Fortress Zone, and other lode gold/antimony occurrences on the property, and ascertain whether or not they have economic potential.

Initial drilling will be conducted on the Workman's Bench and Pringle Bench portions of the Solomon Shear Zone to determine whether or not we can proceed to additional test mining, and eventually to commercial mining.

In the next twelve months Silverado plans to spend more than $280,000 of its approximate $3,000,000 2008 project budget for activities involved in Nolan lode exploration. As weather conditions permit, the work will ramp up to include diamond core drilling, field exploration that includes very low frequency - electromagnetic (VLF-EM) ground geophysical surveys, and follow-up geochemical sampling and geological mapping. The Company has the full annual project budget in hand to complete these activities.


EAGLE CREEK PROPERTY

Funding has been advocated for the 2008 work plan. Whereas historic commercially viable mining took place on the Number One (or "Scrafford") Vein, and whereas Silverado has successfully drilled and hit significant widths of high-grade or massive stibnite (antimony sulfide) and significant widths with good gold grades, it has nonetheless yet to complete a definitive drilling program sufficient to indicate reserves, and therefore there is no assurance that a commercially viable economic mineral deposit exists on the property.

THE GRIM REAPER