VANCOUVER, BC, Canada, January 28, 2009. Silverado Gold Mines Ltd. (the "Company" or "Silverado") (OTCBB: SLGLF, Frankfurt: SLGL, www.silverado.com) was notified on January 26, 2009 by the Securities and Exchange Commission that they had completed their review of the Company's 2007 Form 10-KSB and related filings and had no further comments.

On the same date, the British Columbia Securities Commission also advised Silverado that they had removed the Company from their Issuer in Default list and had concluded their review.

About the Company

Silverado Gold Mines Ltd., a publicly traded company, is an exploration-stage enterprise focused on the exploration of gold properties, with some past production, and the development of new environmentally friendly low-rank coal water fuel technology. The Company has gold properties located throughout Alaska, which include a 100 percent (100%) interest in numerous mining claims located on the Nolan Creek property. The Company's wholly owned subsidiary, Silverado Green Fuel Inc., is developing low-rank coal water fuel. The fuel is designed to be produced from low-rank coal and processed into an environmentally friendly oil substitute. For more information about Silverado Gold Mines Ltd or Silverado Green Fuel Inc., please visit www.silverado.com.

Contact Information - Silverado Gold Mines Ltd

Mailing Address:
Suite 1820 -- 1111 West Georgia St.
Vancouver, BC V6E 4M3
Canada

Email:
Investor Relations: ir@silverado.com
Public Relations: pr@silverado.com

Telephone Numbers:
Corporate: (604) 689-1535
Facsimile: (604) 682-3519
Toll Free: 1-800-665-4646
(Canada and USA only)

Trading Symbols:
OTC BB - SLGLF
FRANKFURT - SLG

Forward-Looking Statements

This news 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. Statements in this news release that are forward-looking statements are based on the current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Such forward-looking statements involve risks and uncertainties regarding the market price of gold, availability of funds, government regulations, common share prices, operating costs, capital costs, outcomes of test mining activities and other factors. Forward-looking statements are made, without limitation, in relation to operating plans, property exploration activities, including test mining activities, availability of funds, environmental reclamation, operating costs and permit acquisition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", or "continue", and the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, you should consider various factors, including the risks detailed in the Company's filings with the Canadian Securities Authorities and the US SEC. These factors may cause the Company's actual results to differ materially from any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

You can also view this News Release on our website at:
http://www.silverado.com/s/NewsReleases.asp?ReportID=336073