Silverado Gold Mines Ltd. Continues Gold Nugget Auctions on eBay

Leading E-Commerce Portal Provides Ideal Venue for

Nugget Sales from Silverado's Nolan Gold Mine


Jul 22, 2004, 01:00 ET from Silverado Gold Mines Ltd.

    VANCOUVER, BC/FAIRBANKS, AK, July 22 /PRNewswire-FirstCall/ - Silverado
 Gold Mines Ltd. announced today that as part of its on-going gold nugget sales
 program, it has resumed auctioning gold nuggets from its Nolan Mine in Alaska
 via eBay, Inc. (NASDAQ:   EBAY), the leading on-line auction site. Silverado is
 currently auctioning its third gold nugget in 14 months. The current nugget
 for sale weighs 1.32 Troy Ounces (41 grams). A 2.93 Troy Ounce gold nugget
 recently auctioned on eBay, sold for $U.S 1,753. Since the last glacial period
 over 10,000 years ago, it lay buried deep within the frozen river gravels of
 Silverado's Nolan Gold Mine in the Arctic Circle of Alaska.
     The mine is 100% owned by Silverado and lies 280 miles north of
 Fairbanks, Alaska. The first prospectors found gold in the region in 1899.
 Mining began at Nolan in 1905. In its early years, miners recovered
 approximately 130,000 ounces of gold from this part of the Silverado property.
 Their gold was all mined by hand-steel and steam to extract gold from the
 permanently frozen gravels.
     In 1994, Silverado recovered the Tenth Largest Gold Nugget in Alaska
 history, weighing in at 41.35 Troy Ounces (1287.6 grams). Its value by gold
 content was $U.S 16,000 but due to its unique characteristics and size, sold
 for $U.S 50,000. Gold nuggets from this area have a general consistency of
 being 92% - 97% pure gold. Gold in this Arctic region, known as the Koyukuk
 region, is renowned for its high purity.
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        This Press Release contains historical and current information.

SOURCE Silverado Gold Mines Ltd.