$41,200,000 of inferred in-place antimony resource calculated in one small segment of the Nolan Property

$41,200,000 of inferred in-place antimony resource calculated in one small segment of the Nolan Property

Additional gold value due shortly in final Bundzten report

VANCOUVER, May 5 /PRNewswire-FirstCall/ - Silverado Gold Mines Ltd.,
and its wholly owned subsidiary, Silverado Green Fuel Inc. (Trading
Symbols, OTC BB - SLGLF, FRANKFURT - SLGL).

News from Silverado's Mine Manager at Workman's Bench, Nolan Creek
Site:

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With a late winter thaw in Alaska, Silverado has assembled its team,
and readied all of its equipment and supplies for an anticipated season of
exploration and development. The first target zone, as defined by drilling,
tunnelling, surface mapping and sampling, contains multiple, thin, steeply
dipping, quartz-sulfide veins and veinlets over an overall true width
ranging from 95-105 feet. Within that mineralized zone, one vein contains a
0.4-to-1.1 foot thick (average=0.6 foot) band of stibnite (antimony
sulphide) that contains appreciable gold.

News from Tom Bundtzen, Mining Consultant:

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Thomas K. Bundtzen is President of Pacific Rim Geological Consulting,
Inc., of Fairbanks, Alaska, USA. Mr. Bundtzen is a well-known placer and
lode-mining consultant active in North America and Eastern Russia. During
April, Bundtzen supervised the collection of 30 chip-channel samples and a
large bulk sample from the quartz-sulfide vein stockwork and from a massive
stibnite-bearing vein-fault system, respectively. Bundtzen's preliminary
'Draft Field Report' (April 22, 2008) contains exploration maps and
operational photos, as well as photos of stibnite veins and semi massive
quartz-stibnite-gold veins, and confirms the high gold and antimony content
assay results reported by first phase, independent laboratory testing.

In an effort to better quantify the mineral discoveries at Nolan Creek,
specifically within a 500 foot long by 225 foot (vertical) area of the
Workman's Bench, part of the Solomon Shear, Silverado has contracted Thomas
K. Bundtzen to prepare a preliminary resource estimate. The resource
estimate will be based on: 1) underground chip and channel sampling
conducted by Bundtzen; 2) on assayed mineralized zones within drill hole
intercepts; 3) on evaluation of polished thin sections from mineralized
zones; and 4) on microprobe determinations. Silverado assay sample data
will also be incorporated into the estimate. A bulk sample from the
mineralized stibnite zone is being prepared for shipment to a metallurgical
test facility outside of Alaska.

Please see Bundtzen's preliminary 'Draft Field Report' (dated April 22,
2008)http://www.silverado.com/BulkSamplingandresourceEvaluationProgram04220
8.pdf, and a semi-massive stibnite vein mineralization photo at
http://www.silverado.com/i/pdf/photo001V2.pdf.

The April 22, 2208 draft report will be followed shortly by a
resource/mineralization valuation, also to be prepared by Pacific Rim
Geological Consulting, Inc. (PRGCI), which provides third party reports and
assessments, in conformity with professional and NI 43-101 guidelines, with
consulting fees paid by the company.

Antimony News from Silverado Management:

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The initial report of Thomas K. Bundtzen received on April 22nd, 2008
confirms Silverado's observations in the Workman's Bench system. The tunnel
on the 80 foot level has identified a stibnite-quartz vein that contains 80
percent stibnite and 20 percent quartz. Both surface and subsurface data
indicates that the mineralized zone on Workman's Bench can be traced for
500 feet along strike and to a minimum depth of about 225 feet. Hence 500
ft X 225 ft X 0.6 ft = 16,875 tons of inferred stibnite resources with a
calculated unit worth of $41.2 million USD ($1.22/lb for massive stibnite
ore) of in-place, inferred antimony resource. The in-place antimony
resource estimate presented above includes only a single vein system in
that portion of Workman's Bench that has been explored by surface and
underground exploration techniques. There are three additional zones of
semi-massive, stibnite-bearing veins in the Workman's Bench mineralized
zone. Additional drilling, inferring logical extensions to Pringle Bench to
the Northeast could add to this in-place, antimony resource estimate.

Gold News from Silverado Management:

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Massive stibnite contains up to 35 grams/tonne (1.13 oz/ton) gold;
however, an inferred gold resource is not calculated here, but will be
estimated when final gold assay results are received from the submitted
samples collected in April, 2008.

Please see semi-massive stibnite vein mineralization photo from Tom
Bundzten's Preliminary Field Report of April 22, 2008, at
http://www.silverado.com/i/pdf/photo001V2.pdf.

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.

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.