Corporate Update & Nolan Report

Court Approved Combining 2009/10/11 Annual Meetings

Nolan Federal Claim Rentals Paid

Recent Repairs to Nolan Camp and Roads

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Surrey, BC, October 4, 2011—Silverado Gold Mines Ltd (OTCBB: SLGLF) (Frankfurt: SLGL) (www.silverado.com) (the “Company” or “Silverado”) is pleased to announce that on September 30, 2011, the Supreme Court of British Columbia upheld the appeal of the Company to hold the meeting of the shareholders of Silverado Gold Mines Ltd. (the “Company”) on May 11, 2012, or such other date as determined by the Company’s board of directors, along with the annual general meetings of the Company for the years: 2009, 2010, and 2011.

The Company has paid the $95,540 Annual Federal claim rental, royalty and recording fees for its Alaska Federal Claims which among others include all of the 100% owned Nolan 12 square mile property and the adjoining Alminco property which the Company holds under option.

The Company has also completed a re-furbishing program on its Nolan 34-person camp and 7 mile access road from camp to the Dalton (Alyeska Pipeline Highway) which is open year round facilitating a 6-7 hour drive to Fairbanks.

The Company, depending on availability of funds, may initiate an underground program this winter by driving our main tunnel 400 feet further south west where drill holes from surface drilling encountered a series of high grade drill intercepts at the main tunnel level, some 300 feet below surface.

There, 2009 drill hole 09SH08 intercepted 0.64 feet (true width) of 0.57 ounces per ton gold and 55.4% antimony and drill hole 09SH05 intercepted 1.9 feet (true width) of 0.27 ounces per ton gold and 61.1% antimony. These holes adjoin Workman’s Bench Probable Reserves on the SW end of the 3500

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© Publicnow - 2011