Executive Briefing

An Executive Briefing may facilitate readers and investors to better understand the significance of recent Silverado assay findings. Silverado Gold Mines Ltd. assay results from samples collected underground from individual quartz and antimony-quartz veins demonstrated gold grades as high as 1.04 toz/ton (35.80 g/ton), in addition to antimony grades up to 64.34%.

"The Silverado assay results are most encouraging," stated Garry L. Anselmo, "and are highly indicative that all of our exploration, drilling and sampling work at Workman's Bench (Nolan Creek, Alaska), has been paying off. Our 2008 Nolan Creek Exploration Plan has recently been completed. Five million dollars financing has been secured to carry out our 2008 Plan. It is important to note that all mine infrastructure is paid up and in place, including all materials, equipment and permits. Our people are preparing to re-commence activities in anticipation of the Artic Alaska winter to end, which should be sometime in April. All of this has been progressively reported in our Press Releases. If you follow the trend, you will see news shaping up at Silverado."

"Is 2008 The Next Breakout Year For Silverado Gold Mines Ltd.?" [ Click Here ] (Mar 5 08)

Silverado's assays also indicate a strong presence of antimony (58.76 - 64.34%). The domestic (U.S.) antimony market is approximately 70,000,000 pounds per year (valued at more than $200,000,000), and is growing at an annual rate of 6.8% per year.

"Silverado Can Supply Growing $200 Million Antimony Market" [ Click Here ] (Jan 9 08)

"We are often asked why Silverado is not in actual production yet." continued Mr. Anselmo. "Well, geological, geochemical and geophysical testing has highlighted the most likely and best defined sites to explore. We have carried out selective drilling, and even did underground exploration throughout the wintertime."

"With the assay results, we now know what the potential high yield gold (and antimony) deposits can consist of, and that is exciting. However, it is now critical to determine the nature and width of the mineralized zones below, the width of the veins within them, the access angle we need to use, and, ultimately, what Silverado might expect in terms of the yield per ton of the potential ore bodies themselves. The continued drilling and sampling will direct our next stage Production Plan."

Mr. Anselmo concluded, "The results would also allow our own Certified Professional Geologist, in conjunction with third party professional mining consultants, to estimate gold and antimony reserves, and their dollar value. This would be based on estimated ore body size and grade."

The balance of this Press Release was prepared by Dr. Karsten Eden, Certified Professional Geologist; who is a qualified person as defined under the standards of Canadian National Instrument policy 43-101.Only the balance of this Press Release can be considered certified.

Silverado Gold Mines announced today that it has received all assays from its first phase underground exploration program on Workman's Bench. Workman's Bench is the company's prime exploration target for a lode gold and antimony deposit in the southwestern part of the extensive Solomon Shear Zone. Underground sampling has disclosed high grade gold and antimony mineralization. Gold and antimony values from samples collected from individual veins in Tunnel A assayed as high as 1.04 troy ounces gold per ton (35.8 g/t Au) and 64.34 % antimony [ Click Here ]. Samples collected from individual veins in Tunnel C assayed as high as 0.7 troy ounces gold per ton (24 g/t Au) and 58.76% antimony (see Table 1).

During winter 2007/08, Silverado Gold Mines drove an exploration tunnel 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 [ Click Here ]. The Workman's Bench mineralized zones have been confirmed over a strike length of 600 feet. They are well defined and contain antimony and gold bearing veins each of which are generally larger in width (up to one foot) than at the other drilled gold and antimony prospects (the Hillside and Pringle Bench) within the Solomon Shear Zone. This is not only evidenced by drilling, but also by underground and surface observations. The gold and antimony mineralized zones at Workman's Bench 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 [ Click Here ] and were sent to ALS Chemex in Fairbanks for analysis.

Table 1: All Gold and Antimony values for samples collected at sample locations 1 to 12.