<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

[X]     Quarterly  Report pursuant to Section 13 or 15(d) of the Securities
        Exchange  Act  of  1934

        For  the  quarterly  period  ended  FEBRUARY  28,  2002


[__]    Transition  Report  pursuant  to 13 or 15(d) of the Securities Exchange
        Act  of  1934
        For  the  transition  period                    to


Commission  File  Number     0-12132
                             -------

                            SILVERADO GOLD MINES LTD.
           ---------------------------------------------------------------
          (Exact name of small Business Issuer as specified in its charter)

BRITISH  COLUMBIA                              98-0045034
-----------------------------------            ------------------------
(State  or  other  jurisdiction  of            (IRS  Employer
incorporation  or  organization)
               Identification  No.)

Suite  505,  1111  West  Georgia  Street
Vancouver,  British  Columbia
Canada                                         V6E  4M3
-----------------------------------------      ------------
(Address of principal executive offices)       (Zip  Code)

Issuer's  telephone  number,
 including  area  code:                        604-689-1535
                                               -------------------------

                                      None
          -----------------------------------------------------
          (Former  name, former address and former fiscal year,
                     if changed since last  report)

Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d)  of  the  Securities  Exchange Act of 1934 during the preceding 12
months  (or  for  such  shorter period that the issuer was required to file such
reports),  and  (2) has been subject to such filing requirements for the past 90
days  [X]  Yes      [__]  No

State the number of shares outstanding of each of the issuer's classes of common
stock,  as  of  the  latest practicable date:  68,879,336 Shares of no par value
Common  Stock  outstanding  as  of  April  9,  2002.

<PAGE>

<TABLE>
<CAPTION>

SILVERADO  GOLD  MINES  LTD.
Consolidated  Balance  Sheets
(Expressed  in  United  States  Dollars)

--------------------------------------------------------------------------------
                                February 28,     November 30,
                                    2002           2001
                                -------------  -------------
                                 (unaudited)
--------------------------------------------------------------------------------
<S>                               <C>            <C>

Assets

Current assets:
  Cash                            $    247,639   $     17,093
  Gold inventory                        10,169         11,140
  Accounts receivable (note 3)         247,231          2,876
  Receivable from
  related party (note 3)               121,389
                                  -------------  -------------
                                       626,428         31,109

Mineral properties (note 2)          1,159,529      1,159,529

Buildings, plant and equipment       2,981,360      2,980,200
  Accumulated depreciation          (2,260,466)    (2,185,947)
                                  -------------  -------------
                                       720,894        794,253
                                  -------------  -------------
                                  $  2,506,851   $  1,984,891
                                  -------------  -------------
Liabilities and Stockholders'
 Deficiency

Current liabilities:
  Bank indebtedness               $          -   $          -
  Accounts payable and
  accrued liabilities                  681,665        792,395
  Loans payable secured
  by gold inventory                     35,729         35,729
  Mineral claims payable               316,500        316,500
  Due to related party (note 3)              -        291,310
  Debentures, current portion
  (note 2)                             140,000        140,000
  Debenture, current portion
  (note 2)                              75,000         75,000
  Debenture, current portion
  (note 2)                             357,734        476,978
                                  -------------  -------------
                                     1,606,628      2,127,912

Debentures (note 2)                  1,705,638      1,705,638

Stockholders' deficiency:
  Common stock:
    Authorized: 100,000,000
    common shares
    Issued and outstanding:
      February 28, 2002 -
      62,294,626 shares;
      November 30, 2001 -
      42,423,988                    48,581,015     47,000,034
  Share subscriptions received          30,000              -
  Accumulated deficit              (49,416,430)   (48,848,693)
                                  -------------  -------------
                                      (805,415)    (1,848,659)
                                  -------------  -------------

                                  $  2,506,851   $  1,984,891
                                  -------------  -------------

</TABLE>

Continuing  operations  (note  2)
Contingencies  (notes  2  and  5)
Subsequent  events  (note  6)


See  accompanying  notes  to  unaudited  consolidated  financial  statements.

                                                                     1
<PAGE>




<TABLE>
<CAPTION>

SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Operations
(Expressed  in  United  States  Dollars)


---------------------------------------------------------
                            Three months     Three months
                                   ended           ended
                             February 28,    February 28,
                                    2002             2001
                              (unaudited)      (unaudited)
---------------------------------------------------------
<S>                            <C>           <C>

Revenue from gold sales        $       971   $     1,655

Mining,  processing, and
development costs                   18,229        40,660
---------------------------------------------------------
Loss before the undernoted          17,257        39,005

Other expenses:

  Accounting and audit               6,182         9,857
  Advertising and Promotion         13,896             -
  Consulting Fees                  236,084             -
  Depreciation                      74,519        74,296
  General exploration               32,232         6,286
  Interest on convertible
  debentures                        45,005        40,938
  Legal                               (201)       14,713
  Loss (gain) on foreign
  exchange                          (6,343)         (194)
  Management services from
  related party                     45,051        39,922
  Office expenses                   42,219        33,172
  Other interest and
  bank charges                       2,571         1,221
  Transfer agent fees
  and mailing expenses               3,977         3,892
  Research                          55,288        73,897
---------------------------------------------------------
                                   550,480       298,000
Loss and comprehensive
loss for the period            $  (567,737)  $  (337,005)
---------------------------------------------------------
Loss per share -
basic and diluted              $     (0.01)        (0.01)
Weighted average number
of common shares
outstanding                     44,536,354    30,636,558
---------------------------------------------------------

</TABLE>

                                                                     2

<PAGE>


<TABLE>
<CAPTION>


SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Cash  Flows
(Expressed  in  United  States  Dollars)


------------------------------------------------------------------
                                       Three months  Three months
                                              ended        ended
                                       February 28,  February 28,
                                              2002         2001
                                      (unaudited)    (unaudited)
------------------------------------------------------------------
<S>                                     <C>           <C>

Cash provided by (used in):

Operating activities:
  Loss for the period                   $  (567,737)  $(337,005)
  Depreciation, an item
  not involving cash                         74,519      74,296
  Changes in non-cash
  operating working capital:
    Accounts receivable                    (244,355)         98
    Gold inventory                              971       1,571
    Receivable from
    related party                           121,390           -
    Accounts payable and
    accrued liabilities:                   (110,729)     53,069
                                        ------------  ----------
                                           (725,941)   (207,971)
Financing activities:
  Bank indebtedness                               -      (3,007)
  Shares issued for cash                  1,218,957      30,000
  Repayment of loans
  payable                                         -        (600)
  Share subscriptions received               30,000      59,000
  Due to related party                     (291,310)    123,636
                                        ------------  ----------
                                            957,647     209,029
Investing activities:
  Purchase of equipment                      (1,160)          -

Increase in cash                            230,546       1,058
                                        ------------  ----------

Cash, beginning of period                    17,093           -
                                        ------------  ----------

Cash, end of the period                 $   247,639   $   1,058
                                        ------------  ----------

Supplementary cash flow information
------------------------------------------------------------------
Non-cash activities not reflected
in statements of cash flows:
Exercise of stock options for
reduction in amount due to
related party                           $   555,000           -
Issue of shares in lieu of required
payment on replacement debenture            162,897           -
Issue of shares
for consulting services                     183,084           -
                                          ------------  ----------
</TABLE>


                                                                     3
<PAGE>


<TABLE>
<CAPTION>

SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Stockholders'  Equity  (Deficiency)
(Expressed  in  United  States  Dollars)
Three  months  ended  February  28,  2002  and  year  ended  November  30,  2001
--------------------------------------------------------------------------------
                               Number of               Share
                               common      Share    subscriptions  Accumulated
                               shares      Capital     received    deficit
--------------------------------------------------------------------------------
<S>                            <C>         <C>          <C>        <C>

Balance, November 30, 2000     30,589,891  $45,669,977  $  20,000  $(47,170,719)
Year ended November 30, 2001
  Loss for the year                     -            -          -    (1,677,974)
  Shares issued:
    On exercise of options
    for cash                      600,000       60,000          -             -

    On exercise of warrants
    for cash 5,060,000            498,800            -                  498,800

    Shares issued for
    subscriptions received
    in prior year                   4,418       20,000    (20,000)            -
    Private placements for
    cash                        4,522,249      470,000          -             -
    Shares issued in lieu of
    cash payments for
    replacement debentures      1,647,430      281,257          -             -
--------------------------------------------------------------------------------
                               11,834,097    1,330,057    (20,000)   (1,677,974)
--------------------------------------------------------------------------------

Balance, November 30, 2001     42,423,988   47,000,034          -   (48,848,693)
  Loss for the period
  ended February 28, 2002               -            -          -      (567,737)
  Shares issued:
  On exercise of
    options for cash            3,700,000      555,000          -             -
  Cash received for
    shares to be issued                                    30,000
  On exercise of
    warrants for cash           4,300,000      215,000
  Shares issued for
    consulting fees             1,441,667      183,084
  Private placements for cash   8,800,000      465,000
  Shares issued in lieu
  of payment for debentures     1,628,971      162,897
--------------------------------------------------------------------------------
                               19,870,638    1,580,981     30,000      (567,737)
--------------------------------------------------------------------------------
Balance, February 28, 2002
(unaudited)                   62,294,626  $48,581,015  $  30,000   $(49,416,430)
--------------------------------------------------------------------------------

                                                     Total
                                                  ------------
<S>                                               <C>
Balance, November 30, 2000                        $(1,480,742)
Year ended November 30, 2001
  Loss for the year                                (1,677,974)
  Shares issued:
   On exercise of options for cash                     60,000

   On exercise of warrants for cash

   Shares issued for subscriptions
   received in prior year                                   -
   Private placements for cash                        470,000
   Shares issued in lieu of cash
   payments for replacement
   debentures                                         281,257
---------------------------------------------------------------
                                                     (367,917)
---------------------------------------------------------------


Balance, November 30, 2001                         (1,848,659)
  Loss for the period ended February 28, 2002        (567,737)
  Shares issued:
  On exercise of options for cash                     555,000
  Cash received for shares to be issued                30,000
  On exercise of warrants for cash                    215.000
  Shares issued for consulting fees                   183,084
  Private placements for cash                         465,000
  Shares issued in lieu of payment for debentures     162,897
---------------------------------------------------------------

                                                    1,043,244
---------------------------------------------------------------

Balance, February 28, 2002 (unaudited)            $  (805,415)
---------------------------------------------------------------

</TABLE>



See  accompanying  notes  to  unaudited  consolidated  financial  statements.

                                                                     4
<PAGE>


SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Unaudited)
(Expressed  in  United  States  Dollars)

Three  months  ended  February  28,  2002,  and  February  28,  2001


1.     Basis  of  presentation:

The  unaudited  consolidated  balance  sheet  and  the  unaudited  consolidated
statements  of  operations,  stockholders'  equity  (deficiency)  and cash flows
include  the  accounts  of  the Company and its wholly-owned subsidiary company.
These  statements  have been prepared in accordance with United States generally
accepted  accounting  principles  for  interim  financial  information.  These
financial  statements  comply, in all material respects, with generally accepted
accounting  principles  in  Canada.

The  accompanying unaudited consolidated financial statements do not include all
information  and  footnote  disclosures required under United States or Canadian
generally  accepted  accounting  principles.  In  the opinion of management, all
adjustments  (consisting  solely  of  normal  recurring  accruals)  considered
necessary  for  a  fair  presentation  of  the  financial  position,  results of
operations  and  cash  flows  as  at  February  28,  2002,  and  for all periods
presented,  have  been  included.  Readers  of these financial statements should
note  that  interim results for the three-month periods ended February 28, 2002,
and February 28, 2001, are not necessarily indicative of the results that may be
expected  for  the  fiscal  year  as  a  whole.

These  financial  statements should be read in conjunction with the consolidated
financial  statements  and notes thereto included in the Company's annual report
on  Form  10-K  for  the  fiscal  year  ended  November  30,  2001.


2.     Continuing  operations:

At  February 28, 2002, the Company has a working capital deficiency of $980,200,
down  from  $3,880,540  at  February  28,  2001,  primarily  as  a  result  of
renegotiating  the  repayment  terms  of a portion of the $2,000,000 convertible
debentures  and  related interest. The Company is in arrears of required mineral
claims and option payments for certain of its mineral properties at February 28,
2002,  in  the  amount  of $316,500 and therefore, the Company's rights to these
properties  with  a  carrying  value  of $315,000 may be adversely affected as a
result of these non-payments.  The Company understands that it is not in default
of  the agreements in respect of these properties. The unpaid mineral claims and
option  payments  are  included  in  current  liabilities  at February 28, 2002.

These  financial  statements  have been prepared on a going concern basis, which
assumes  the  realization  of assets and settlement of liabilities in the normal
course  of  business.  The  application  of  the  going  concern concept and the
recovery  of  amounts  recorded  as  mineral properties and buildings, plant and
equipment  is  dependent  on  the  Company's  ability  to  obtain  the continued
forbearance  of  certain  creditors,  to obtain additional financing to fund its
operations  and  acquisition,  exploration  and  development  activities,  the
discovery  of economically recoverable ore on its properties, and the attainment
of  profitable  operations.  Current  uncertainty  with  regard to these matters
raises  substantial  doubt  about  the  Company's ability to continue as a going
concern.  These  financial  statements do not include any adjustments that might
result  from  the  outcome  of  this  uncertainty.

                                                                     5
<PAGE>

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Unaudited)
(Expressed  in  United  States  Dollars)

Three  months  ended  February  28,  2002,  and  February  28,  2001

2.     Continuing  operations  (continued):

The  Company  plans  to continue to raise capital through private placements and
warrant  issues.  The  Company  also  plans to option to third parties the Ester
Dome  and  Marshall  Dome  properties, near Fairbanks, Alaska. No specific third
parties have been identified and there can be no certainty that any such parties
will  be  identified in the future.  In addition, the Company is exploring other
business  opportunities including the development of low rank coal water fuel as
a  replacement  fuel for oil fired industrial boilers and utility generators. On
March  1, 2001, the Company completed negotiations to restructure its $2,000,000
convertible  debentures.  The  Company  issued  replacement  debentures  in  the
aggregate  amount  of $2,564,400 consideration of cancellation of the $2,000,000
principal  amount  plus all accrued interest on the original debentures to March
1,  2001.

The  replacement  debentures bear interest of 8.0% per annum and mature March 1,
2006.  Principal payments are due at the end of each month.  Interest is due and
payable on a quarterly basis on February 28, May 31, August 31, and November 30.
If  the  Company fails to make any payment of principal or interest, the Company
must  issue  shares  equivalent  in value to the unpaid amounts at 20% below the
average  market price. On December 11, 2001, the Company issued 1,628,971 shares
at the average market price of $0.10 to the holders of the replacement debenture
to  satisfy  the  quarterly  payments  due  November  30, 2001. The value of the
transaction  consists  of  $119,244  of principal and $43,653 of interest. As at
February  28,  2002,  $1,860,000  plus  $524,892  of  accrued  interest has been
exchanged  for  replacement  debentures.  Of  its  aggregate  amount $2,063,372,
$357,734 is classified as a current liability and $1,705,638 has been classified
as  non-current.  Remaining  debentures  of  $140,000,  plus accrued interest of
$45,226  are  in  default, however, it is unclear whether they will be exchanged
for  replacement debentures. In February 1999 the Company issued a debenture for
$75,000  with  interest  payable  at  a rate of 5.0% per annum. The debenture is
unsecured  and  is  due  February  28,  2002.





                                                                     6
<PAGE>

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Unaudited)
(Expressed  in  United  States  Dollars)

Three  months  ended  February  28,  2002,  and  February  28,  2001

3.     Related  party  transactions:

The Company has had related party transactions with Tri-Con Mining Ltd., Tri-Con
Mining  Inc.,  Tri-Con  Mining  Alaska  Inc.  (collectively  the "Tri-Con Mining
Group")  All  of  which  are  controlled  by  a  director  of  the  Company.

The  Tri-Con  Mining  Group  are  operations,  exploration,  and  development
contractors,  and have been employed by the Company under contract since 1972 to
carry  out  all  of  its  fieldwork and to provide administrative and management
services. Under its current contract dated January, 1997 work is charged at cost
plus  15% for operations and cost plus 25% for exploration and development. Cost
includes  a  15  %  charge for office overhead. Services of the directors of the
Tri-Con Mining Group are charged at a rate of Cdn. $75 per hour. Services of the
directors  of the Tri-Con Mining Group who are also directors of the Company are
not  charged.  At  February  28,  2002,  the Company had prepaid $244,711 to the
Tri-Con Mining Group for exploration, development and administration services to
be  performed  during  the  current  fiscal  year  on behalf of the Company. The
Tri-Con  Mining Group's services for the current fiscal year are focusing mainly
on  the Company's low rank coal water fuel program as well as corporate planning
and  preparation  for  year  round  production  on  its  Nolan  property,  and
administration  services  at  both  its  field  and  corporate  offices.

The  aggregate  amounts  paid  to  the  Tri-Con  Group  each period by category,
including  amounts  relating to the Grant Mine Project and Nolan properties, for
disbursements  and  for services rendered by the Tri-Con Group personnel working
on the Company's projects, and including interest charged on outstanding balance
at  the  Tri-Con  Group's  borrowing  costs  are  shown  below:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
                                     February 28, February 28,
                                         2002         2001
--------------------------------------------------------------------------------
<S>                                     <C>        <C>

Operations and field services          $  3,168   $  3,188
Exploration and development services     49,811     15,085
Administrative and management services   44,950     39,923
Research                                 55,288     73,897
                                     ------------ -----------
                                       $153,217   $132,093
Amount of total charges in
excess of Tri-Con costs incurred       $ 35,155   $ 29,181
                                     ------------ -----------


Excess amount charged as a
percentage of actual costs incurred       22.9%      22.1%
                                     ------------ -----------
                                                                     7
<PAGE>

</TABLE>

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Unaudited)
(Expressed  in  United  States  Dollars)

Three  months  ended  February  28,  2002,  and  February  28,  2001


4.     Loss  per  share:
Basic  loss  per  share has been calculated using the weighted average number of
common  shares outstanding for each period.  Loss per share does not include the
effect  of  the potential exercise of options and warrants and the conversion of
debentures  as  their  effect  is  anti-dilutive.

5.     Litigation:

On  February  8,  2002,  the  Company  settled  its  litigation  with  Bundy and
Christenson,  an  association of professional law corporations, for $30,000. The
litigation  pertained  to  monies owed for quiet title action on mining property
and  the  enforcement rights under an agreement to purchase mining property. The
Company  paid  the  settlement  in  trust  to  Bundy  and  Christenson.

6.     Subsequent  events:
(a)     Subsequent  to  February  28,  2002,  1,000,000  common  share  purchase
warrants  were  exercised  at  a price of $0.05 and the Company issued 1,000,000
common shares from the treasury for total proceeds of $50,000, of which, $30,000
had  been  received  between  December  1,  2001  and  February  28,  2002  as
subscriptions.
(b)     On  March  11,  2002, the Company issued 1,234,710 shares at the average
market price of $0.13 to the debenture holders to satisfy the quarterly payments
of  principal  and  interest.  The  value  of  this  transaction is $160,512 and
includes  principal  of  $119,245  and  quarterly  interest  of  $41,267.
(c)     On  March 22, 2002, the Company paid $5,000 to the previous operators of
the  Smith  Creek  property  as part of the acquisition costs under an agreement
from  1993.
(d)     On  March  27,  2002,  the  Company  made its annual interest payment of
$3,750  to  the  holder  of  the  $75,000  debenture.
(e)     Also  on  March  27,  2002,  the  Company  issued  350,000 shares to the
consultants for a portion of their services under the terms of the agreements as
reported  on  form  S-8.
(f)     On  April  2,  2002,  2,000,000  common  share  purchase  warrants  were
exercised  at a price of $0.08 per share and the Company issued 2,000,000 common
shares  from  the  treasury  for  proceeds  of  $160,000.

                                                                     8
<PAGE>



SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Unaudited)
(Expressed  in  United  States  Dollars)

Three  months  ended  February  28,  2002,  and  February  28,  2001

6.  Subsequent  events  (continued):

(g)     On April 2, 2002, the Company completed a private placement of 1,000,000
units  at  a  price  of $0.09 per unit. For total proceeds of $90,000. Each unit
consists  of one common share and one common share purchase warrant. Each common
share  purchase warrant entitles the warrant holder to purchase one common share
at  a  price  of  $0.15  until  September  3,  2002.
(h)     On April 2, 2002, the Company completed a private placement of 1,000,000
units  at  a  price  of $0.09 per unit. For total proceeds of $90,000. Each unit
consists  of one common share and one common share purchase warrant. Each common
share  purchase warrant entitles the warrant holder to purchase one common share
at  a  price  of  $0.15  until  September  3,  2002.


                                                                     9

<PAGE>

Item  2  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION.

PLAN  OF  OPERATIONS

The  Company's  plan of operations for the next nine months includes its plan to
place  the Nolan gold project into commercial production.  The Company estimates
that  it  will  cost  approximately  $3,000,000 in order to place the Nolan gold
project  into  year  round  gold  production.  The  Company  is  currently  in
negotiations to obtain a loan in the amount of $3,000,000 in order to enable the
Company  to  proceed with this plan of operations.  The details of the gold loan
have not been finalized and it has not been determined whether the loan would be
secured  by  future  gold  sales  or  if  it  would  be  an  unsecured  loan.

The  Company  also  plans  to  proceed with its plan to establish the commercial
viability  of the low-rank-coal-water-fuel technology.  In order to commence the
tests  necessary  to establish commercial viability, the Company has applied for
an  $8,000,000  grant  from  the  U.S.  Department of Energy. If this funding is
achieved, the Company plans to its Grant Mill located on the Ester Dome property
into  the  world's  first  demonstration  facility  for  producing
low-rank-coal-water-fuel.  The  conversion  would take approximately one year to
complete  at  an  estimated  cost  of  $10,000,000.

The  Company  currently  does  not  have  sufficient  cash or working capital to
proceed  with  its plan of operation.  As discussed above, the Company's plan of
operation  is  subject  to  achieving  the required financing.  In addition, the
Company will require funding in the amount of approximately $900,000 in order to
fund its ongoing operating expenses over the next nine months.  Accordingly, the
Company  will  require  additional  financing  in  order  to finance its current
operations.  See  the  discussion  of  the  Company's cash resources and working
capital  below  under  Liquidity  and  Financial  Condition.

RESULTS  OF  OPERATIONS

Three months ended February 28, 2002 compared to the three months ended February
28,  2001

Revenues

Revenue  from  gold  sales decreased to $971 for the three months ended February
28,  2002 from $1,655 for the three months ended February 28, 2001.  Revenues in
the  three  month  period were attributable to sales of existing gold inventory.

The Company anticipates that significant revenues will not be achieved until the
Company  is  able to place the Nolan gold project into production.   The Company
anticipates  that  revenues from the Company's low-rank-coal-water-fuel business
will  not  be  achieved until commercial feasibility of this technology has been
established.   Revenues  from  the  Nolan  gold  project  and  the
low-rank-coal-water-fuel  business  are  contingent  upon  the Company achieving
additional  financing.

Mining,  Processing  and  Development  Costs

Mining,  processing  and  development  costs  decreased to $18,229 for the three
months  ended February 28, 2002 from $40,660 for the three months ended February
28,  2001,  representing  a  decrease  of  $22,431.  These  costs  are primarily
attributable  to mining and processing costs at the Company's mining operations.
The  decrease was attributable to decreased exploration and development activity
by  the  Company  on its mineral properties.  The Company anticipates that these
mining,  processing and development costs will increase once the Company is able
to  place  the  Nolan  gold  project  into  production.

Other  Expenses

Other  expenses  increased  to  $550,480 for the three months ended February 28,
2002  from $298,000 for the three months ended February 28, 2001.  This increase
in  the  amount  of  $252,480  was  primarily  due  to  increased consulting and
commission  costs.

Management  services  attributable  to  the  activities  of  the  Tri-Con  Group
increased  to  $45,051 for the three months ended February 28, 2002 from $39,922
for  the  three  months ended February 28, 2001, representing an increase in the
amount  of  $5,129. This increase was primarily the result of increased
activity  by the Company on its mineral properties. This increased activity also
caused  general exploration expenses to increase to $32,232 for the three months
ended  February  28,  2002  from  $6,286 for the three months ended February 28,
2001.  The  Company anticipates that these expenses will continue to increase if
the  Company  is able to achieve additional financing to increase its activities
on  its  mineral  properties.

Research  activities  attributable  to  the  Company's  low-rank coal water fuel
technology  decreased  to  $55,288  for the three months ended February 28, 2002
from  $73,897  for  the  three  months  ended
                                                                             10
<PAGE>

February 28, 2001, representing a
decrease  in the amount of $18,609. This decrease is primarily the result of the
Company's determination to focus its limited capital resources on its efforts to
put its Nolan gold project into year-round production. The Company is still very
determined  to  commercialize  its  low-rank-coal-water-fuel  technology.

Office  expenses  increased  to  $42,218 for the three months ended February 28,
2002  from $33,172 for the three months ended February 28, 2001, representing an
increase  in  office  expenses of $9,046.  Office expenses relate to the general
operations  of  the  Company.

Loss

The Company's loss increased to $567,737 for the three months ended February 28,
2002 from $337,005 for the three months ended February 28, 2001, representing an
increase  of  $230,732.  This  increase  in  the  Company's  loss  was primarily
attributable  to the increase in  consulting and commissions costs in the amount
of  $236,084.  The  Company  anticipates  that  it will continue to incur a loss
until  such  time as the Company can achieve significant revenues from its Nolan
gold  project.

LIQUIDITY  AND  FINANCIAL  CONDITION

The  Company  had  cash of $247,639 as at February 28, 2002, compared to cash of
$17,093  as  at November 30, 2001.  The Company had a working capital deficiency
of $980,200 as at February 28, 2002, compared to a working capital deficiency of
$2,096,803  as  of  November  30,  2001.  The  decrease in the Company's working
capital  deficiency  was  primarily  a result of financings completed during the
three  months  ended  February  28,  2002.

Cash  used  in  operating  activities increased to $725,941 for the three months
ended  February  28,  2002,  compared  to  $207,971  for  the three months ended
February  28,  2001.  The  Company  funded  the  net cash outflow from operating
activities  of  $725,941 primarily through equity sales of its common shares and
by an increase in the prepaid expenses to related party balance with the Tri-Con
Group.

Cash provided by financing activities increased to $957,647 for the three months
ended  February  28,  2002,  compared  to  $209,029  for  the three months ended
February  28,  2001.  Of  the  cash provided by financing activities, a total of
$1,218,957  was  provided  by  share  issuances.  Cash  provided  by  financing
activities  was  reduced by an amount of $291,310 on account of the reduction of
the  amount payable to the Tri-Con Group.  Accordingly, the Company financed its
operating  activities  primarily  through equity issuances of its common shares.

On  March  1,  2001,  the  Company  completed  negotiations  to  restructure its
$2,000,000  convertible debentures. The Company issued replacement debentures in
the  aggregate  amount  of  $2,564,400  in  consideration of cancellation of the
$2,000,000 principal amount plus all accrued interest on the original debentures
to March 1, 2001. The replacement debentures bear interest of 8.0% per annum and
mature  March  1,  2006.  Principal  payments  are due at the end of each month.
Interest  is due and payable on a quarterly basis on February 28, May 31, August
31,  and  November  30. If the Company fails to make any payment of principal or
interest,  the  Company  must  issue  shares  equivalent  in value to the unpaid
amounts at 20% below the average market price. On December 11, 2001, the Company
issued  1,628,971  shares at the average market price of $0.10 to the holders of
the  replacement  debenture  to  satisfy the quarterly payments due November 30,
2001. The value of the transaction consists of $119,244 of principal and $43,653
of  interest.  As  at  February  28,  2002,  $1,860,000 plus $524,892 of accrued
interest  has been exchanged for replacement debentures. Of its aggregate amount
$2,063,372,  $357,734  is  classified  as a current liability and $1,705,638 has
been  classified  as  non-current. Remaining convertible debentures of $140,000,
plus  accrued interest of $45,226 are in default, however, it is unclear whether
they  will  be  exchanged  for  replacement  debentures.

The  Company  is  also in arrears of required mineral property claims and option
payments  of  $316,500  and  therefore  the  rights  to  these properties with a
carrying  value  of  $315,000  may  be  adversely  affected.

The  Company anticipates continuing to rely on equity sales of its common shares
in  order  to continue to fund its business operations.  Issuances of additional
shares  will  result  in  dilution to existing shareholders of the Company.  The
Company  is  pursuing  debt  financing  in the principal amount of $3,000,000 in
order  to place the Nolan gold project into commercial production.  The terms of
any  debt  financing  for the Nolan gold project have not been finalized and may
include the granting of security against future gold revenues.  In addition, the
Company  is attempting to obtain a grant of $10,000,000 in order to proceed with
establishing  the commercial viability of the Company's low-rank-coal-water-fuel
business.  There is no assurance that the Company will achieve any of additional
sales  of  its  equity securities or arrange for debt or other financing for its
planned  business  expansion.


                                                                             11
<PAGE>

Uncertainty  as to the Company's ability to meet its liabilities and commitments
as they become payable causes doubt about the Company's ability to continue as a
going concern.  The Company's ability to continue as a going concern and recover
the amounts recorded as mineral properties is dependant on its ability to obtain
the  continued forbearance of its creditors, to obtain additional financing and/
or  the  entering  into  joint venture agreements with third parties in order to
complete  exploration, development and production of its mineral properties, the
continued  delineation  of  reserves  on  its  properties  and the attainment of
profitable operations.  There is no assurance that such items can be obtained by
the  Company.  Failure  to  obtain  these may cause the Company to significantly
decrease its level of exploration and operations and to possibly sell or abandon
certain mineral properties or capital assets to reduce commitments or raise cash
as  required.


                                                                             12
<PAGE>

                      PART II - OTHER INFORMATION

Item  1     Legal  Proceedings

The  Company  currently  is not a party to any material legal proceedings and to
the  Company's  knowledge,  no  such proceedings are threatened or contemplated.


Item  2     Changes  in  Securities  and  Use  of  Proceeds.

The  Company completed the following unregistered sales of its securities during
the  three  months  ended  February  28,  2002:

1.   On December 11, 2001, the Company issued 1,628,971 common shares at the
     average market price of $0.10 to the holders of the replacement debentures
     to satisfy the quarterly payments due under the replacement debentures on
     November 30, 2001. No commissions or fees were paid in connection with the
     issuance of the shares. The sales were completed pursuant to Regulation S
     of the Act on the basis that each holder of the replacement debentures is a
     non-U.S. person, as defined under Regulation S of the Act.

2.   On December 14, 2001, the Company issued 500,000 common shares at a price
     of $0.05 pursuant to the exercise of outstanding warrants for total
     proceeds of $25,000. The sales were completed pursuant to Regulation S of
     the Act on the basis that the purchaser is a non-U.S. person, as defined
     under Regulation S of the Act. No commissions or fees were paid.

3.   On December 19, 2001, the Company completed a private placement of
     2,500,000 units at a price of $0.04 per unit for total proceeds of
     $100,000. Each unit consists of one common share and one common share
     purchase warrant. Each common share purchase warrant entitles the holder to
     purchase one common share at a price of $0.10 until December 19, 2002.
     Commissions totaling $10,000 were paid in connection with the offering. The
     sales were completed pursuant to Regulation S of the Act on the basis that
     each purchaser is a non-U.S. person, as defined under Regulation S of the
     Act.

4.   On January 22, 2002, the Company issued 3,800,000 common shares to two
     investors at a price of $0.05 pursuant to the exercise of outstanding
     warrants for total proceeds of $190,000. The sales were completed pursuant
     to Regulation S of the Act on the basis that the purchasers were non-U.S.
     persons, as defined under Regulation S of the Act. No commissions or fees
     were paid.

5.   On January 30, 2002, the Company issued 3,700,000 shares to the Tri-Con
     Group for proceeds of $550,000. These shares were issued pursuant to
     Section 4(2) of the Act. The proceeds were applied to reduce a liability to
     the Tri-Con Group in the amount of $291,310 and to pay amounts due to the
     Tri-Con Group in respect of services provided. The balance of $121,389 has
     been applied as a pre-paid expense on account of future services to be
     provided to us by the Tri-Con Group.

6.   On February 5, 2002, the Company completed a private placement of 1,000,000
     units at a price of $0.10 per unit for total proceeds of $100,000. Each
     unit consists of one common share and one common share purchase warrant.
     Each common share purchase warrant entitles the holder to purchase one
     common share at a price of $0.15 until February 7, 2003. Commissions
     totaling $10,000 were paid in connection with the offering. The sales were
     completed pursuant to Regulation S of the Act on the basis that each
     purchaser is a non-U.S. person, as defined under Regulation S of the Act.

7.   On February 5, 2002, the Company completed a private placement of 5,300,000
     units at a price of $0.05 per unit for total proceeds of $365,000 to three
     investors. Each unit consists of one common share and one-half of a common
     share purchase warrant. Each common share purchase warrant entitles the
     holder to purchase one common share at a price of $0.10 until February 7,
     2003. Commissions totaling $10,000 were paid in connection with the
     offering. The sales were completed pursuant to Regulation S of the Act on
     the basis that each purchaser is a non-U.S. person, as defined under
     Regulation S of the Act.


                                                                             13
<PAGE>


In  addition,  the  Company  completed  the  following  registered  sales of its
securities  during  the  three  months  ended  February  28,  2002:

1.   On February 1, 2002 the Company issued 1,091,667 shares to certain
     consultants for a portion of their services under the terms of their
     respective consultant agreements. The issuance of these shares was
     registered on Form S-8.

2.   On February 15, 2002, the Company issued 350,000 shares to certain
     consultants for a portion of their services under the terms of their
     respective consultant agreements. The issuance of these shares was
     registered on Form S-8.


Item  3          Default  Upon  Senior  Securities

The  Company  is in default of obligations pursuant to convertible debentures in
the  aggregate  principal  amount of $140,000, plus accrued interest of $45,226.
The Company is attempting to negotiate the issuance of replacement debentures in
exchange  for  the  amount  of  indebtedness  owed  to  the  investor.



Item  4          Submission  of  Matters  to  a  Vote  of  Security  Holders

No  matters  were  submitted to our security holders for a vote during our first
quarter  ended  February  28,  2002.


Item  5          Other  Information

None.


Item  6          Exhibits  and  Reports  on  Form  8-K

None.

                                                                             14
<PAGE>
                                   SIGNATURES

Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.


DATE:  April 15, 2002                      SILVERADO  GOLD  MINES  LTD.




                                           /s/ G.L.  Anselmo

                                           G.L.  Anselmo
                                           President
                                           Chief  Executive  Officer
                                           (Principal  Executive  Officer)
                                           Chief  Financial  Officer
                                           (Principal  Financial  Officer)


                                                                             15