Silverado Enters a US$3 Million to US$100 Million Equity Line of Credit

VANCOUVER, British Columbia, May 12, 2009 (GLOBE NEWSWIRE) -- Silverado Gold Mines Ltd (OTCBB:SLGLF) (Frankfurt:SLGL) (www.silverado.com) ("Silverado") hereby announces its entry into an equity line of credit agreement with Ashborne Finance Ltd., a British Virgin Islands corporation, pursuant to which Silverado has the right to raise at least US$3,000,000 and up to US$100,000,000 through the sale of its common stock over the course of the agreement, and upon execution, immediately raised US$250,000 of capital pursuant to an initial sale of 25 million common shares at a price of US$0.01 per share under the agreement. Silverado's president, Garry Anselmo, said: "We anticipate that our entry into this credit line agreement could facilitate the funding of our ongoing business activities in the present difficult economic climate." Shareholders and prospective investors may review Silverado's filings of today's date on EDGAR and SEDAR for more information.

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