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Silverado Green Fuel / Mississippi Commercial Plant Decision Timely to Meet Growing U.S. Demand for Domestic Energy Supply and Self-Sufficiency
VANCOUVER, March 31 /PRNewswire-FirstCall/ - Silverado Green Fuel Inc. (Subsidiary of Silverado Gold Mines Ltd. - Trading Symbols - OTC BB - SLGLF, FRANKFURT - SLGL) : - The U.S. military, eager to establish a high degree of energy self-sufficiency, has announced that it is considering coal-to-liquid fuel ('CTLF') facilities to be built on their bases. Further, major energy producers are turning towards CTLF as part of the country's energy-delivery solution. It is worth reiterating that this positions Silverado Green Fuel Inc. at the forefront of one of the U.S.'s highest priorities, namely domestic energy supply and security.
With continued unrest and recent insurgency-related incidents against Middle East oil installations and pipelines, causing cutbacks in oil transportation and production, oil prices surged up nearly $5 leading up to March 28th. That also came after a U.S. government report showed declines in domestic fuel stocks as the nation's refineries slowed to their lowest pace since 2005.
Silverado and Mississippi Going Forward, Together
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'Silverado Green Fuel is very much a Silverado-Mississippi team effort.' stated Garry L. Anselmo, Silverado President and CEO. 'There have been discussions between our own Technology, Engineering and Management Team and the State of Mississippi, and we are of one mind to go forward with planning for a larger scale commercial plant. Silverado Green Fuel Inc. is now being demand driven.'
Originally planned as a 'Demonstration Plant', technical and engineering work is underway to scale-up the plans for the proposed facility to a full size 'Green Fuel Commercial Plant'. The Technical / Development Plan in progress will identify costs, budgets, and technical issues. Based on utilizing Mississippi lignite, Silverado will generate a step-by-step 'Silverado Green Fuel Facility Design and Implementation Action Plan'.
In the United States, low rank coal represents centuries of domestic energy resources, and is currently a highly under-utilized resource. U.S. Presidential Candidates have expressed their interest in, and support for clean coal technology and alternate fuel sources.
Silverado Funds Initial Mississippi Lignite Evaluation and Feasibility
Study
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Considerable hydrothermal treatment research has already been done with numerous Low Rank Coals from around the world. However, understanding the unique properties of Mississippi lignite is critical in fine tuning the commercial production of Green Fuel. Consequently, Silverado is providing a $150,000 grant to the Mineral Industry Research Lab, University of Alaska (Fairbanks), to use their expertise and unique mini-reactor apparatus to develop this data.
In addition, Great Northern Engineering of Palmer, Alaska, which has provided technical and engineering guidance during technology development, has been awarded a contract for $21,500 to assist with the initial commercial feasibility study.
The work being carried out at the University of Alaska, and at Great Northern Engineering, will be integrated into the 'Silverado Green Fuel Facility Design and Implementation Action Plan'.
Crude Oil is Over $107/Barrel (March 28/08), Many Times the Cost of
Silverado Green Fuel!
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Despite escalating costs for equipment and materials caused by runaway fuel costs, Silverado estimates that its Green Fuel can be produced commercially for under $20 per barrel, on an oil equivalent energy basis. Costs are coal and site specific. Given that Green Fuel costs will be only a fraction of oil prices, profit margins are expected to be significant.
Silverado Green Fuel will be commercially produced virtually emission free in respect to particulate matter, sulfur, and heavy metals. CO2 generated during production can be recovered efficiently and sold, for enhanced oil recovery.
Green Fuel can be used to power oil-fired power plants and industrial boilers. It is also a good feedstock for some advanced gasifiers to produce synthesis gas, which can be fired in turbines to generate power in IGCC plants and catalytically reacted to yield transportation fuels, petrochemicals and fertilizers. Synthesis gas can be further processed to yield only hydrogen, the only feedstock that truly does not produce any CO(2) when combusted or reacted in fuel cells.
Contact Information - Silverado Gold Mines Ltd.
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Silverado is an international company focused on gold exploration, and a new environmentally friendly Fuel Technology. Silverado has gold properties located throughout Alaska which include the 100% owned Nolan Placer Gold Mine. Trading Symbols, OTC BB - SLGLF, FRANKFURT - SLGL
To learn more about Silverado Green Fuel Inc. and watch the Green Fuel Video, visit :- www.silveradogreenfuel.com
Silverado Gold Mines Ltd. www.silverado.com
More Information? www.silverado.com/investors/request/
This Press 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. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
CONTACT: Suite 1820 - 1111 West Georgia Street, Vancouver, British Columbia, Canada V6E 4M3, Telephone: (604) 689-1535, Facsimile: (604) 682-3519; Investor Relations: E-mail: ir@silverado.com; Public Relations: E-mail: pr@silverado.com; Toll Free: 1-800-665-4646 (Canada and USA only)
SOURCE Silverado Gold Mines Ltd.
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