FORM 10Q
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.    20549

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT  OF  1934  FOR  THE  QUARTER  ENDED  FEBRUARY  28,  2001
                                         -------------------
                                       OR

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR 15(d) OF THE SECURITIES
EXCHANGE  ACT  OF  1934.
Commission  file  number  0-12132
                          -------

                            SILVERADO GOLD MINES LTD.
                    (Exact name of Registrant in its charter)

British  Columbia,  Canada
(State or other jurisdiction of  incorporation)

98  -0045034
(I.R.S.  Employer  I.D.  No.)

Suite  505,  1111  West  Georgia  Street
Vancouver,  British  Columbia,  Canada  V6E  4M3
(Address  of  Principal  Executive  Offices)

(604)  689-1535
(Registrant's  telephone)

Indicate by check mark whether the registrant (1) has filed all reports required
to  be  filed  by Section 13 or 13(d) of the Securities and Exchange Act of 1934
during  the preceding 12 months (or for a shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.

Yes  [X]   No  [   ]

Indicate  the  number  of  shares outstanding of each of the issuer's classes of
common  stock,  as  of  the  latest  practicable  date.

Class
(Common  stock  (npv))

Outstanding  at  April  6,  2001

35,189,891



<PAGE>

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

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
                                                                       February  28,     November  30,
                                                                             2001           2000
------------------------------------------------------------------------------------------------------
<S>                                                                      <C>            <C>
                                                                       (unaudited)
Assets

Current assets:
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $      1,058   $          -
Gold inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . .        17,179         18,750
Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . .         5,758          5,856
-----------------------------------------------------------------------------------------------------
                                                                               23,995         24,606

Mineral properties (note 2) . . . . . . . . . . . . . . . . . . . . . .     1,209,529      1,209,529

Buildings, plant and equipment. . . . . . . . . . . . . . . . . . . . .     2,982,608      2,982,608
Accumulated depreciation. . . . . . . . . . . . . . . . . . . . . . . .    (1,965,344)    (1,891,048)
-----------------------------------------------------------------------------------------------------
                                                                            1,017,264      1,091,560
-----------------------------------------------------------------------------------------------------

                                                                         $  2,250,788   $  2,325,695
-----------------------------------------------------------------------------------------------------

Liabilities and Stockholders' Deficiency

Current liabilities:
Bank indebtedness . . . . . . . . . . . . . . . . . . . . . . . . . . .  $          -   $      3,007
Accounts payable and accrued liabilities. . . . . . . . . . . . . . . .     1,266,572      1,213,503
Loans payable secured by gold inventory . . . . . . . . . . . . . . . .        36,051         36,651
Mineral claims payable. . . . . . . . . . . . . . . . . . . . . . . . .       366,500        366,500
Due to related party (note 3) . . . . . . . . . . . . . . . . . . . . .       235,412        111,776
Convertible debenture, current portion (note 2) . . . . . . . . . . . .     2,000,000      2,000,000
-----------------------------------------------------------------------------------------------------
                                                                            3,904,535      3,731,437

Convertible debenture . . . . . . . . . . . . . . . . . . . . . . . . .        75,000         75,000

Stockholders' deficiency:
Common stock:
Authorized: 100,000,000 common shares
Issued and outstanding:
February 28, 2001 - 30,889,891 shares;
November 30, 2000 - 30,589,891. . . . . . . . . . . . . . . . . . . . .    45,699,977     45,669,977
Share subscriptions received. . . . . . . . . . . . . . . . . . . . . .        79,000         20,000
Accumulated deficit . . . . . . . . . . . . . . . . . . . . . . . . . .   (47,507,724)   (47,170,719)
-----------------------------------------------------------------------------------------------------
                                                                           (1,728,747)    (1,480,742)
-----------------------------------------------------------------------------------------------------
                                                                         $  2,250,788   $  2,325,695
-----------------------------------------------------------------------------------------------------

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


See accompanying notes to unaudited consolidated financial statements.
</TABLE>



Approved  on  behalf  of  the  Board:


/s  Garry  Anselmo     /s/  James  F.  Dixon
Garry  L.  Anselmo     James  F.  Dixon
Director               Director


<PAGE>
SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Operations
(Expressed  in  United  States  Dollars)
<TABLE>
<CAPTION>

-----------------------------------------------------------------------------------------------------
                                                                      Three  months     Three  months
                                                                          ended             ended
                                                                       February  28,     February  29,
                                                                          2001               2000
-----------------------------------------------------------------------------------------------------
                                                                       (unaudited)       (unaudited)
<S>                                                                      <C>           <C>
Revenue from gold sales . . . . . . . . . . . . . . . . . . . . . . . .  $     1,655   $         -

Mining and processing costs . . . . . . . . . . . . . . . . . . . . . .       40,660             -

Loss before the undernoted. . . . . . . . . . . . . . . . . . . . . . .       39,005             -

Other expenses:
Accounting and audit. . . . . . . . . . . . . . . . . . . . . . . . . .        9,857           180
Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       74,296        89,653
General exploration . . . . . . . . . . . . . . . . . . . . . . . . . .        6,286             -
Interest on convertible debentures. . . . . . . . . . . . . . . . . . .       40,938        43,750
Legal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       14,713        (4,388)
Loss (gain) on foreign exchange . . . . . . . . . . . . . . . . . . . .         (194)       19,660
Management services from related party. . . . . . . . . . . . . . . . .       39,922       164,498
Office expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . .       33,172        34,715
Other interest and bank charges . . . . . . . . . . . . . . . . . . . .        1,221           472
Reporting and investor relations. . . . . . . . . . . . . . . . . . . .        3,892             -
Research. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       73,897             -
----------------------------------------------------------------------------------------------------
                                                                             297,990       348,540
----------------------------------------------------------------------------------------------------

Loss and comprehensive loss for the period. . . . . . . . . . . . . . .  $  (337,005)  $  (348,540)
----------------------------------------------------------------------------------------------------

Loss per share - basic and diluted. . . . . . . . . . . . . . . . . . .  $     (0.01)  $     (0.02)
Weighted average number of common shares outstanding. . . . . . . . . .   30,636,558    15,873,224
----------------------------------------------------------------------------------------------------


See accompanying notes to unaudited consolidated financial statements.
</TABLE>




<PAGE>
SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Cash  Flows
(Expressed  in  United  States  Dollars)
<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------
                                                                       Three  months     Three  months
                                                                           ended             ended
                                                                       February  28,     February  29,
                                                                           2001              2000
------------------------------------------------------------------------------------------------------
                                                                        (unaudited)       (unaudited)
<S>                                                                      <C>           <C>
Cash provided by (used in):

Operating activities:
Loss for the year . . . . . . . . . . . . . . . . . . . . . . . . . . .  $  (337,005)  $(348,540)
Depreciation, an item not involving cash. . . . . . . . . . . . . . . .       74,296      89,653
Changes in non-cash operating working capital:
Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . .           98      (6,805)
Gold inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . .        1,571           -
Accounts payable and accrued liabilities. . . . . . . . . . . . . . . .       53,069     176,697
-------------------------------------------------------------------------------------------------
                                                                            (207,971)    (88,995)

Financing activities:
Bank indebtedness . . . . . . . . . . . . . . . . . . . . . . . . . . .       (3,007)     44,850
Shares issued for cash. . . . . . . . . . . . . . . . . . . . . . . . .       30,000           -
Repayment of loans payable. . . . . . . . . . . . . . . . . . . . . . .         (600)          -
Share subscriptions received. . . . . . . . . . . . . . . . . . . . . .       59,000      44,145
Due to related party. . . . . . . . . . . . . . . . . . . . . . . . . .      123,636           -
-------------------------------------------------------------------------------------------------
                                                                             209,029      88,995
-------------------------------------------------------------------------------------------------

Increase in cash. . . . . . . . . . . . . . . . . . . . . . . . . . . .        1,058           -

Cash, beginning of period . . . . . . . . . . . . . . . . . . . . . . .            -           -
-------------------------------------------------------------------------------------------------

Cash, end of the period . . . . . . . . . . . . . . . . . . . . . . . .  $     1,058   $       -
-------------------------------------------------------------------------------------------------

See accompanying notes to unaudited consolidated financial statements.
</TABLE>




<PAGE>
SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Stockholders'  Equity  (Deficiency)
(Expressed  in  United  States  Dollars)
Three  months ended February 28, 2001 and years ended November 30, 2000 and 1999
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------------
                                                                                                  Share
                                                                         Number        Share     subscriptions  Accumulated
                                                                         of shares     capital     received      deficit
----------------------------------------------------------------------------------------------------------------------------
<S>                                                                      <C>         <C>          <C>         <C>
Balance, November 30, 1999. . . . . . . . . . . . . . . . . . . . . . .  15,873,224  $44,454,365  $  28,188   $(45,298,603)
Year ended November 30, 2000
Loss for the year . . . . . . . . . . . . . . . . . . . . . . . . . . .           -            -          -     (1,872,116)
Shares issued:
Private placements for cash . . . . . . . . . . . . . . . . . . . . . .   4,276,866      323,091          -              -
Private placement for
consulting services . . . . . . . . . . . . . . . . . . . . . . . . . .   1,000,000      100,000          -              -
Shares issued for
subscriptions received
in prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     373,134       28,188    (28,188)             -
Cash received for shares
to be issued. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           -            -     20,000              -
On exercise of warrants
for cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   6,716,667      529,333          -              -
On exercise of options
for cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     200,000       20,000          -              -
On issuance of shares
for settlement of
accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . .     200,000       20,000          -              -
On issuance of shares
for settlement of due
to related party. . . . . . . . . . . . . . . . . . . . . . . . . . . .   1,950,000      195,000          -              -
---------------------------------------------------------------------------------------------------------------------------
                                                                         14,716,667    1,215,612     (8,188)    (1,872,116)
---------------------------------------------------------------------------------------------------------------------------

Balance, November 30, 2000. . . . . . . . . . . . . . . . . . . . . . .  30,589,891   45,669,977     20,000    (47,170,719)
Loss for the period . . . . . . . . . . . . . . . . . . . . . . . . . .           -            -          -       (337,005)
Shares issued:
On exercise of options. . . . . . . . . . . . . . . . . . . . . . . . .     300,000       30,000          -              -
Cash received for shares
to be issued. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           -            -     59,000              -
---------------------------------------------------------------------------------------------------------------------------
                                                                            300,000       30,000     59,000              -
---------------------------------------------------------------------------------------------------------------------------

Balance, February 28, 2001
(unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  30,889,891  $45,699,977  $  79,000   $(47,507,724)
---------------------------------------------------------------------------------------------------------------------------

See accompanying notes to unaudited consolidated financial statements.

------------------------------------------------------------------------------------
                                                                            Total
------------------------------------------------------------------------------------

<S>                                                                      <C>
Balance, November 30, 1999. . . . . . . . . . . . . . . . . . . . . . .  $  (816,050)
Year ended November 30, 2000
Loss for the year . . . . . . . . . . . . . . . . . . . . . . . . . . .   (1,872,116)
Shares issued:
Private placements for cash . . . . . . . . . . . . . . . . . . . . . .      323,091
Private placement for
consulting services . . . . . . . . . . . . . . . . . . . . . . . . . .      100,000
Shares issued for
subscriptions received
in prior year                                                                      -
Cash received for shares
to be issued. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       20,000
On exercise of warrants
for cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      529,333
On exercise of options
for cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       20,000
On issuance of shares
for settlement of
accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . .       20,000
On issuance of shares
for settlement of due
to related party. . . . . . . . . . . . . . . . . . . . . . . . . . . .      195,000
------------------------------------------------------------------------------------
                                                                            (664,692)
------------------------------------------------------------------------------------

Balance, November 30, 2000. . . . . . . . . . . . . . . . . . . . . . .   (1,480,742)
Loss for the period . . . . . . . . . . . . . . . . . . . . . . . . . .     (337,005)
Shares issued:
On exercise of options. . . . . . . . . . . . . . . . . . . . . . . . .       30,000
Cash received for shares
to be issued. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       59,000
------------------------------------------------------------------------------------
                                                                              89,000
------------------------------------------------------------------------------------

Balance, February 28, 2001
(unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $(1,728,747)
------------------------------------------------------------------------------------

See accompanying notes to unaudited consolidated financial statements.
</TABLE>




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

Three  months  ended  February  28,  2001  and  February  29,  2000
-------------------------------------------------------------------


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, 2001 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, 2001 and February
29,  2000 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,  2000.

2.     CONTINUING  OPERATIONS:

At February 28, 2001, the Company had a working capital deficiency of $3,880,540
including  a  $2,000,000 convertible debenture that matured on July 2, 1999, and
is  in  arrears.  The  Company  has  not  made required interest payments on the
$2,000,000  convertible debenture of $506,667 to February 28, 2001.  The Company
is also in arrears of required mineral claims and option payments for certain of
its  mineral  properties  at  February  28,  2001, in the amount of $366,500 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  interest and mineral claims and option payments
are  included  in  current  liabilities  at  February  28,  2001.

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.

<PAGE>

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

Three  months  ended  February  28,  2001  and  February  29,  2000
-------------------------------------------------------------------

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.  In  addition,  the  Company is exploring other
business  opportunities including the development of low-rank coal-water fuel as
replacement  fuel  for oil fired industrial boilers and utility generators.  The
Company  is  currently in negotiations to restructure the $2,000,000 convertible
debenture.

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"); and Anselmo Holdings Ltd., all of which are controlled by a director of
the  Company.

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  29,
                                                                  2001       2000
----------------------------------------------------------------------------------------
<S>                                                             <C>        <C>
Operations and field services. . . . . . . . . . . . . . . . .  $  3,188   $      -
Exploration and development services . . . . . . . . . . . . .    15,085          -
Administrative and management services . . . . . . . . . . . .    39,923    164,498
Research . . . . . . . . . . . . . . . . . . . . . . . . . . .    73,897          -
-------------------------------------------------------------------------------------

                                                                $132,093   $164,498
-------------------------------------------------------------------------------------
Amount of total charges in excess of Tri-Con costs incurred. .  $ 29,181   $ 28,787
-------------------------------------------------------------------------------------

Excess amount charged as a percentage of actual costs incurred      22.1%      17.5%
-------------------------------------------------------------------------------------
</TABLE>



4.     LOSS  PER  SHARE:

Basic  loss  per  share has been calculated using the weighted average number of
common  shares  outstanding  including  shares held in escrow.  Diluted loss per
share  amounts  have  not  been presented, as the effect of  850,000 outstanding
options,  2,300,000  outstanding  warrants  and  295,192  shares to be issued on
conversion  of  convertible  debentures  are  anti-dilutive.


<PAGE>

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

Three  months  ended  February  28,  2001  and  February  29,  2000
-------------------------------------------------------------------

5.     LITIGATION:

Range  Minerals  Corporation  has  initiated  a  claim  against  the Company for
$185,665.  The  lawsuit  pertains  to  required payments covering the Ester Dome
Property.  The  Company  has  denied the claim of Range Minerals Corporation and
has  counterclaimed for the return of 50,000 shares and $88,000 previously paid,
and  such  further  additional  relief  as  the  court  may  deem to be just and
equitable  under the circumstances.  Management of the Company believes that the
claim  by  Range  Minerals  Corporation  is  without  merit and the Company will
successfully  defend itself against the claim.  As the outcome and the amount of
any  loss  is  not  determinable  at  February  28,  2001, no provision for this
litigation  has  been  made  in  the  interim  financial  statements.

6.     SUBSEQUENT  EVENTS:

(a)     On  March 5, 2001, 1,000,000 share purchase warrants were exercised at a
price of $0.10 per share and the Company issued 1,000,000 common shares from the
treasury  for  proceeds  of  $100,000;

(b)     Between  March  8,  2001  and  March  14, 2001, 1,450,000 share purchase
warrants  were  exercised  at  a price of $0.10 per share and the Company issued
1,450,000  common  shares  from  treasury  for  proceeds  of  $145,000.

(c)     On  March 14, 2001, the Company completed a private placement of 500,000
units  at  a  price  of Cdn. $0.30 per unit for total proceeds of Cdn. $150,000.
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  U.S.  $0.30  until  March  14,  2003.

(d)     On  March  22, 2001, 800,000 share purchase warrants were exercised at a
price  of  $0.10 per share and the Company issued 800,000 common shares from the
treasury  for  proceeds  of  $80,000.

<PAGE>


ITEM  2.        MANAGEMENT  DISCUSSION  AND  ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


The  following  is management's discussion and analysis of certain factors which
have  significantly  affected  the  Company's  financial  position and operating
results  during  the  period included in the accompanying condensed consolidated
financial  statements.

THREE  MONTHS  2001  V.  2000
-----------------------------

Loss  for  the  three month period ended February 28, 2001 was $337,005 or $0.01
per  share,  down  from  $348,540  or $0.02 per share for the three month period
ended  February  29,  2000.  Expenditures  during  the  three month period ended
February  28,  2001  were $297,990 down from $348,540 for the three month period
ended  February  29,  2000. $59,000 in cash was received for share subscriptions
during  first  three  months  of  2001.

Research  expenses  of  $73,897  were incurred during the quarter as the Company
continued  its  work  on  the  new  low-rank  coal-water fuel process fuel.  The
Company  also  continued  engineering  and  planning work for the final stage of
development  on  a  portion  of  Nolan Creek at its Nolan gold mine resulting in
mining  and  processing  costs  of  $40,660.

The  Company has plans to retrofit the Grant Mill as part of a program to create
the  world's  first  commercial low-rank coal-water fuel demonstration facility.

The Company continued to maintain its other properties in good standing, pending
further  exploration  and development, subject to the availability of financing.

LIQUIDITY  AND  CAPITAL  RESOURCES  AT  FEBRUARY  28,  2001
-----------------------------------------------------------

During  the first three months of 2001 the Company received cash of $59,000 from
share subscriptions.  The Company plans to raise capital through gold sales from
its 100% owned Nolan Gold Mine as well as through private placements and warrant
issues.  The  Company has a working capital deficiency of $3,880,540 at February
28,  2001  up  from  $3,706,831  at November 30, 2000 as a result of management,
research  and  operations  expenses.

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.

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.  In  addition,  the  Company is exploring other
business  opportunities including the development of low-rank coal-water fuel as
replacement  fuel  for oil fired industrial boilers and utility generators.  The
Company  is  currently in negotiations to restructure the $2,000,000 convertible
debenture.


<PAGE>

ITEM  3.             QUALITITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

None.
-----

                           PART II - OTHER INFORMATION

ITEM  1     LEGAL  PROCEEDINGS
-------

Range  Minerals  Corporation  has  initiated  a  claim  against  the Company for
$185,665.  The  lawsuit  pertains  to  required payments covering the Ester Dome
Property.  The  Company  has  denied the claim of Range Minerals Corporation and
has counter claimed for the return of 50,000 shares and $88,000 previously paid,
and  such  further  additional  relief  as  the  court  may  deem to be just and
equitable  under the circumstances.  Management of the Company believes that the
claim by Range Minerals Corporation is without merit and the Company will defend
itself  against  the  claim.  As  the  outcome and the amount of any loss is not
determinable  at  February  28,  2001, no provision for this litigation has been
made  in  the  interim  financial  statements.

ITEM  2     CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS.
-------

None

ITEM  3     DEFAULT  UPON  SENIOR  SECURITIES
-------

The  Company  has  not  made  required  interest  payments  on  the  $2,000,000
convertible  debenture  of $506,667 to February 28, 2001.  The debenture was due
on  July  2,  1999  and  is  in  arrears.

ITEM  4     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS
-------

None.

ITEM  5     OTHER  INFORMATION
-------

None.

ITEM  6     EXHIBITS  AND  REPORTS  ON  FORM  8-K
-------

None.

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.

SILVERADO  GOLD  MINES  LTD.



/S/  G.L.  ANSELMO
-------------------------
G.L.  Anselmo
President  /  CEO  /  CFO