VANCOUVER, British Columbia, July 6, 2009 (GLOBE NEWSWIRE) -- Silverado Gold Mines Ltd. (OTCBB:SLGLF) (Frankfurt:SLGL) (www.silverado.com) (the "Company" or "Silverado") has engaged the services of D&D Securities Company as its investment banking firm. The engagement will commence immediately and shall be in order to establish a senior level of financing.
D&D Securities was founded in 1929 as a wholly owned subsidiary of Dominick and Dominick Securities of New York. Having a Toronto based Canadian owned broker/dealer will help Silverado establish a strong following in the mining finance community in Canada and other offshore markets.
Silverado has already commenced provisioning of documents for review to D&D and we will continue to work toward establishing a finance offering that may be sold worldwide. We expect to finalize the characteristics of the financing in the coming weeks.
"We are very excited to have engaged D&D Securities at this time. With their help and efforts we will be able to bring in the financing required to move into full scale production while maintaining our present drilling programs that will continue to enhance our reserves and resources at our Nolan Gold/Antimony Project in Alaska. This engagement will begin to anchor our efforts in the North American market and form a base to work from," said Garry Anselmo, President.
The engagement of D&D Securities was lead by Westridge Management International Ltd., "WMI", who Silverado has been working with since March 2009, and who enjoy a strong relationship with D&D. WMI will work with them in order to establish the exact offering and required materials to enable the presentations to the funders. WMI looks forward to establishing further relationships that will enhance the financing and operational requirements of Silverado.
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. The Company has gold properties located throughout Alaska, which include a 100 percent (%) interest in numerous mining claims located on the Nolan Creek property. The Company's wholly owned subsidiary, Silverado Green Fuel Inc., is involved with a new environmentally friendly low-rank coal-water fuel technology. 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 and www.silveradogreenfuel.com, respectively.
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 U.S. 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.