Independent Research Firm Murphy Analytics Initiates Coverage on Silverado Gold Mines Ltd.
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/13/10 -- Silverado Gold Mines Ltd. (OTCBB: SLGLF)(FRANKFURT: SLGL) today announced that Murphy Analytics LLC (MA) has initiated coverage on Silverado Gold Mines Ltd. (www.silverado.com) (the 'Company' or 'Silverado'), an exploration-stage enterprise focused on the exploration of gold properties with some past production.
The 26-page Initiation Report contains a detailed discussion of Silverado Gold Mine's recent achievements, short-term and long-term market dynamics, macroeconomic data and indicators, and risks. The Initiation Report is available at no charge at http://www.murphyanalytics.com/uploads/SLGLF_Initiation.
Analyst Patrick J. Murphy, CFA, notes in the report:
'SLGLF continues to find significant gold mineralization within wall rocks enveloping high grade gold/antimony veins at Nolan Creek. The map overleaf depicted at http://www.silverado.com/i/nr/09dec11-01-lg.jpg and prepared by Silverado geologist Karl Sharp shows the 2.5 mile-long section or side view of Solomon's Shear Zone on Silverado's Nolan Gold/Antimony property in the Wiseman area of northern Alaska. The yellow areas shown below the surface of Solomon's Shear Zone disclose areas from which historic, pre-1965 placer mines and more recently, Silverado's test-mining activities, produced gold nuggets and as such are evidence that the 2.5-mile portion shown contains gold throughout its length. Geochemistry, geophysics, prospecting, trenching and drilling have confirmed this finding.'
Garry Anselmo, CEO of Silverado Gold Mines Ltd., added, 'We believe that the investment community may overlook our recent achievements. Our current climate shows a marked increase in global demand and a favorable long-term outlook for both gold and antimony. As detailed within this report, Silverado's Nolan project is closer than ever to achieving it's goal of delivering gold and antimony to market.'
For further updates regarding the Nolan Project, please visit the link below: http://www.silverado.com/d/nolan-update-april-2010.pdf
About Silverado Gold Mines Ltd.
Silverado Gold Mines Ltd., a publicly traded company, is an exploration-stage enterprise focused on the exploration of gold properties with some past production. 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. All information noted on the Alaska properties contained in the Murphy Analytics Research Report has been derived from the NI 43-101 reports dated as follows.
- January 1, 2009 (amended June 1, 2009) NI 43-101 Pre-Feasibility Study for Nolan (http://www.silverado.com/d/09Jan01_NI43-101_amended.pdf)
- July 30, 2008 NI 43-101 Technical Report for Ester Dome & Eagle Creek (http://www.silverado.com/d/08Jul30_NI43-101.pdf)
About Murphy Analytics LLC:
MA is an independent investment research firm providing coverage of micro-cap and small-cap stocks. Utilizing institutional caliber, fundamental, bottom-up analysis, MA helps investors make informed investment decisions about equities without extensive analyst coverage, with a focus on small-cap and micro-cap public stocks. MA is owned by Patrick J. Murphy, who has over 15 years of capital markets experience, providing institutional investment and transaction analysis across a range of asset classes including micro-cap equities, commercial real estate debt and equity, municipal derivatives and public finance, venture capital, fixed income, CMBS and mortgage REIT's.
Disclosure: MA was paid $5,000 by Del Mar Corporate Consulting, LLC, who provides investor relations services to Silverado Gold Mines Ltd, in advance of the publication of this report. Neither MA nor the analyst owns or trades the shares of covered companies. Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. MA provides no assurance as to the subject company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. This report is neither a solicitation to buy nor an offer to sell securities and is to be used for informational purposes only and should not be used as a basis for investment decisions. MA is not an investment advisor or broker/dealer and this report does not provide investment advice.
Disclosures regarding forward looking statements: This document includes 'forward-looking statements' as defined by federal securities laws, with respect to our financial condition, results of operations and business, and our expectations or beliefs concerning future events. Words such as, but not limited to, 'believe', 'expect', 'anticipate', 'estimate', 'intend', 'plan', 'targets', 'likely', 'will', 'would', 'could', and similar expressions or phrases, identify 'forward-looking statements'.
All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in the environmental services industry. Others are more specific to our operations. The occurrence of the events described, and the achievement of the expected results, depend on many events, some or all of which are predictable or within our control. Actual results may differ materially from expected results.
Contacts:
Silverado Gold Mines Ltd.
Investor Relations
(604) 689-1535 or Toll Free: (800) 665-4646
ir@silverado.com
www.silverado.com