SILVERADO DOUBLES NOLAN GOLD PROJECT HOLDINGS

MAY 22 - 2006 - Fairbanks , Alaska – USA - Vancouver, BC – Canada
SILVERADO - OTCBB: SLGLF / Frankfurt : SLGL / Berlin : SLGL

Silverado has added to their mineral claims holdings at the Nolan Gold Project, by the acquisition of 13 federal placer claims, and 237 federal lode claims, increasing the total holdings to more than 11 square miles of area.  The company now holds 342 federal lode and 218 federal placer claims in Nolan land package. 

There is substantial evidence for a lode source of the big gold nuggets that the company has been finding in the sluice boxes for the past 27 years.  The geochemical and geophysical data have supported that position.  During 1993, a large mineralized shear zone was identified and named the Solomon Shear.  Recent trenching on the shear has revealed gold occurring with massive stibnite veins.  Stibnite is a low temperature antimony mineral frequently associated with lode gold mineralization.  Other compelling evidence is simply the nature of the gold.  “We have found many cubic gold crystals, a rare occurrence for a mineral as soft as gold.  The 8.08 troy ounce gold nugget in quartz pictured below was sluiced in 1994 from a pit downhill of the Solomon Shear.”   The company is continuing to probe both placer gold and lode gold targets throughout the year, and updates will be forthcoming.

Gold recovered from 11 samples taken from underground development workings excavated from November 2005 to March 2006.

This press release was prepared by Edward J. Armstrong, CPG, a qualified person under NI 43-101 standards. 

To learn more about Silverado Gold Mines Ltd., visit us online at http://www.silverado.com or contact Bob Dynes, Investor relations, toll free at 1-800-665-4646

SILVERADO GOLD MINES LTD.
Mailing Address ·505 - 1111 W. Georgia Street ·Vancouver, B.C. ·V6E 4M3 ·CA
(800) 665-4646 or (604) 689-1535 · F: (604) 682-3519 · pr@silverado.com · www.silverado.com
Field Address · P.O. Box 83730 · Fairbanks, Alaska. · 99708 · USA

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