VANCOUVER, April 16 /PRNewswire-FirstCall/ -- Silverado Gold Mines Ltd., and its wholly owned subsidiary, Silverado Green Fuel Inc., (Trading Symbols OTC BB : SLGLF, Frankfurt : SLGL) are most pleased to present the highlights of "The Melman Report", an independent, objective and expert, third party review of the company.
A full version of this article can be viewed at http://www.silverado.com/pressroom/articles/16042008.htm .
This preliminary article will be followed up with a more in-depth review by The Melman Report, in the near future.
Silverado Gold Mines Ltd. -------------------------
"Silverado is a particularly intriguing company in the North American junior mining industry. What makes it unusual is that it has managed to endure throughout the past several decades despite the prolonged downturn in metals prices which lasted from late 1980 through 2002 - a period of more than twenty years."
The Melman Report concluded that, "given typical market valuation of 10 to 20 times earnings for mining shares", should Silverado succeed in its gold exploration, and subsequent production ("...which appears to be possible given their current placer operations, exploration work and reserves indicated in the Bundtzen Report..."), then "the shares would have the potential to move to the region of 40 cents to 80 cents ($0.40 - $0.80) - or a multiple of eight to sixteen times the current price."
Silverado Green Fuel Inc. -------------------------
"In addition to its mining activities, Silverado is also involved in developing its subsidiary company, Silverado Green Fuel Inc. http://www.silveradogreenfuel.com/ The fuel is referred to as "Low-Rank Coal-Water Fuel" (or "Green Fuel") and is designed to be used in oil-designated boilers and advanced combustion and gasification systems. The economics of Green Fuel are intriguing because engineers estimate that it can be produced for a total cost of about US$20.00 per barrel, compared to the world market price for Crude Oil which is quoted at just above US$110 per barrel as of early April, 2008. Although it is difficult to place a valuation on the Green Fuel portion of Silverado's future, the economics of that venture could add substantially to their potential valuation."
Leonard Melman, and 'The Melman Report' (http://www.themelmanreport.com/) -------------------------------------------------------------------------
Leonard Melman is a leading metal exploration, mining and investment authority, and has been writing regarding precious and base metals for more than two decades as monthly columnist for California-based "ICMJ's Prospecting and Mining Journal" and Vancouver's "Resource World Magazine". Mr. Melman is a speaker at the prestigious Cambridge House Conferences, and has also contributed commentary and corporate studies to other publications including "Resource Stock Investor" and "World Mining Stocks" of London, England. He has visited and reported on mining operations on four continents and his articles appear on numerous mining websites. He is presently working on his first book "The Eight Pillars of Gold". Mr. Melman has gained valuable knowledge and experience in previous careers as manager of multi-million dollar consumer lending operations and as a securities and commodity broker.
This material is taken from sources believed to be reliable and is provided for information purposes only. Any investment decision should be made only after prior consultation with investment professionals. Mr. Melman is a financial and political writer who focuses on issues relating to the resource sector.
Contact Information - Silverado Gold Mines Ltd. -----------------------------------------------
Silverado is an international company focused on gold exploration, and a new environmentally friendly Fuel Technology. Silverado has gold properties located throughout Alaska which include the 100% owned Nolan Placer Gold Mine. Trading Symbols, OTC BB - SLGLF, FRANKFURT - SLGL
Silverado Gold Mines Ltd. http://www.silverado.com/ To learn more about Silverado Green Fuel Inc. and watch the Green Fuel Video, visit: http://www.silveradogreenfuel.com/ More Information? http://www.silverado.com/investors/request/
This Press 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. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
CONTACT: Suite 1820 - 1111 West Georgia Street, Vancouver, British Columbia, Canada, V6E 4M3, Telephone: (604) 689-1535, Facsimile: (604) 682-3519; Investor Relations: E-mail:
