Jimmy,

The key to this release is simple (see below emphasis); Silverado filed a report with an agency (US SEC) to which it should not have filed the report.

Having said that, this does not necessarily mean that the report is fully accepted by the BC Jurisdiction, so we have to wait and see what those folks had to say about the report.

There will probably will be some (hopefully, even expectedly in my view) minor revision to this report given the amount of time this bloody thing is taking to get lifted. To come out of this with no changes to the report at all, after this much time, is a pipe dream.

My expectation is that (as someone already mentioned) this is the first of a multi-step process to get the CTO lifted.

6x10e6

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 07/15/11) - Silverado Gold Mines Ltd. (OTCBB:SLGLF - News)(FRANKFURT:SLGL - News) (www.silverado.com) (the "Company" or "Silverado"), at the request of the United States Securities and Exchange Commission, seeks to retract the January 2011 Nolan Report that the Company filed with its current report on Form 8-K filed on January 18, 2011. As a reporting issuer in British Columbia, the Company is obligated to the file and publicly disclose the Nolan Report pursuant to its reporting obligations in that jurisdiction. However, in contrast, such report is not to be filed as part of the Company's disclosure obligations under the United States Securities and Exchange Act of 1934, as amended, or pursuant to Industry Guide 7 guidelines. As a result, the report was filed on the EDGAR system in error and is hereby retracted.