Growing U.S. Government Support for Silverado's 'Green Fuel' as Low Cost Way to Alleviate Electrical Shortages

Apr 27, 2001, 01:00 ET from Silverado Gold Mines Ltd.

    VANCOUVER, British Columbia, and FAIRBANKS, Alaska, April 27 /PRNewswire/
 -- Silverado Gold Mines Ltd. (OTC Bulletin Board:   SLGLF). Faced with mounting
 electrical brownouts and blackouts, particularly in California, the
 alternative energy source for power plants and other applications developed by
 Silverado Gold Mines Ltd. is receiving growing support from federal government
 authorities.
     The latest comes from Don Young, Congressman for all Alaska and the
 Chairman of the U.S. House of Representatives Committee on Resources.  In a
 letter to Silverado, Congressman Young offered his support for the company's
 initiative to have its Alaskan mill refitted for the production of the new
 fuel oil substitute, based on the low-rank, coal-water fuel process.
 Silverado has already made application for a $16-million grant from the United
 States Department of Energy for the plant.
     Silverado also received endorsement for the new fuel oil project from U.S.
 Senator Frank H. Murkowski, chairman of the U.S. Senate's Energy and Natural
 Resources committee who said the Silverado process "could satisfy a
 considerable portion of the United States energy requirements in an
 inexpensive, environmentally friendly, and timely manner."
     The low-rank, coal-water fuel process, which is clean burning, non-toxic
 and non-hazardous, has been proven in pilot plant testing in three countries
 and could be produced for as low as U.S. $14.00 per barrel in North America,
 well below the current price per barrel for oil.
     As summer looms ahead, there is growing concern in the U.S. by some power
 companies that they could be on the brink of running out of electricity.  A
 study by New York-based Allied Business Intelligence, a technology research
 firm, predicts that in the next 10 years, a growing strain on energy resources
 in the United States will lead to power shortages everywhere except Middle
 America.  Brownouts and blackouts that will "last for days" are forecast by
 ABI analyst Michael Kujawa.  President George W. Bush has also expressed
 serious concerns about the growing energy shortage and has appointed a task
 force to -- as he put it -- "boldly and swiftly" recommend an energy plan for
 California and an energy policy for the nation.
     Silverado President and Chief Executive Officer, Garry Anselmo, said the
 company has been pursuing acceptance of their process for more than three
 years.  "I believe we are now seeing light at the end of the tunnel for our
 new fuel oil substitute and I am confident we can make a viable contribution
 in alleviating energy shortages in the United States in an environmentally
 friendly manner," he concluded.
     Silverado has been operating for more than thirty years as a resource
 corporation.  It is still a major gold producer in Alaska with its flagship
 property currently displaying some 140,000 ounces of gold reserves and a
 potential for an additional 1-million ounces of placer or nugget gold.
 
     For More Information View Our Website:
     WWW.SILVERADO.COM
 
     Forward-looking statements in this release are made pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of 1995.
 Investors are cautioned that such forward-looking statements involve risks and
 uncertainties including, without limitation, continued acceptance of the
 company's products, competition, new products and technological changes,
 intellectual property rights and other risks.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X56564182
 
 

SOURCE Silverado Gold Mines Ltd.
    VANCOUVER, British Columbia, and FAIRBANKS, Alaska, April 27 /PRNewswire/
 -- Silverado Gold Mines Ltd. (OTC Bulletin Board:   SLGLF). Faced with mounting
 electrical brownouts and blackouts, particularly in California, the
 alternative energy source for power plants and other applications developed by
 Silverado Gold Mines Ltd. is receiving growing support from federal government
 authorities.
     The latest comes from Don Young, Congressman for all Alaska and the
 Chairman of the U.S. House of Representatives Committee on Resources.  In a
 letter to Silverado, Congressman Young offered his support for the company's
 initiative to have its Alaskan mill refitted for the production of the new
 fuel oil substitute, based on the low-rank, coal-water fuel process.
 Silverado has already made application for a $16-million grant from the United
 States Department of Energy for the plant.
     Silverado also received endorsement for the new fuel oil project from U.S.
 Senator Frank H. Murkowski, chairman of the U.S. Senate's Energy and Natural
 Resources committee who said the Silverado process "could satisfy a
 considerable portion of the United States energy requirements in an
 inexpensive, environmentally friendly, and timely manner."
     The low-rank, coal-water fuel process, which is clean burning, non-toxic
 and non-hazardous, has been proven in pilot plant testing in three countries
 and could be produced for as low as U.S. $14.00 per barrel in North America,
 well below the current price per barrel for oil.
     As summer looms ahead, there is growing concern in the U.S. by some power
 companies that they could be on the brink of running out of electricity.  A
 study by New York-based Allied Business Intelligence, a technology research
 firm, predicts that in the next 10 years, a growing strain on energy resources
 in the United States will lead to power shortages everywhere except Middle
 America.  Brownouts and blackouts that will "last for days" are forecast by
 ABI analyst Michael Kujawa.  President George W. Bush has also expressed
 serious concerns about the growing energy shortage and has appointed a task
 force to -- as he put it -- "boldly and swiftly" recommend an energy plan for
 California and an energy policy for the nation.
     Silverado President and Chief Executive Officer, Garry Anselmo, said the
 company has been pursuing acceptance of their process for more than three
 years.  "I believe we are now seeing light at the end of the tunnel for our
 new fuel oil substitute and I am confident we can make a viable contribution
 in alleviating energy shortages in the United States in an environmentally
 friendly manner," he concluded.
     Silverado has been operating for more than thirty years as a resource
 corporation.  It is still a major gold producer in Alaska with its flagship
 property currently displaying some 140,000 ounces of gold reserves and a
 potential for an additional 1-million ounces of placer or nugget gold.
 
     For More Information View Our Website:
     WWW.SILVERADO.COM
 
     Forward-looking statements in this release are made pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of 1995.
 Investors are cautioned that such forward-looking statements involve risks and
 uncertainties including, without limitation, continued acceptance of the
 company's products, competition, new products and technological changes,
 intellectual property rights and other risks.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X56564182
 
 SOURCE  Silverado Gold Mines Ltd.