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. FOR MORE INFORMATION: --------------------- See our website at www.silverado.com This Press Release contains historical and current information.
SOURCE Silverado Gold Mines Ltd.