FORM 10-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC   20549

[X]     ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT  OF  1934  FOR  THE  FISCAL  YEAR  ENDED  NOVEMBER  30,  2000
                                                      -------------------

        Commission  file  number  0-12132
                                  -------

                            SILVERADO GOLD MINES LTD.
             (Exact name of registrant as specified in its charter)

British Columbia, Canada                                              98-0045034
(State or other jurisdiction of incorporation or organization)     (IRS Employer
                                                                        ID  No.)

Suite  505,  1111  West  Georgia  Street
Vancouver,  British  Columbia,  Canada  V6E  4M3               (604)  689-1535
------------------------------------------------                --------------
(Address  of  Principal  Executive  Offices)                     (Registrant's
                                                            telephone  number)

Securities  registered  pursuant  to  section  12(b)  of  the  Act: None

Securities  registered  pursuant  to  section  12(g)  of  the  Act:
Common  Shares,  no  par  value
(Title  of  Class)

The Company's Common Stock trades on  the  OTC Bulletin Board under the trading
symbol  SLGLF.OB
(Name  of  each exchange on which  registered)

Indicate  by  check mark the registrant (1) has 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 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  by  check mark if disclosure of delinquent filers pursuant to Item 405
of  Regulation  S-K  is  not contained herein, and will not be contained, to the
best  of  the  registrant's  knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in  Part  III  of this Form 10-K or any
amendment  to  this  Form  10-K.  [X]

The  aggregate  market  value of voting stock held by non-affiliates on February
28,  2001  was  $  4,778,141.

The  number  of  shares  outstanding  on  February  28,  2001  was  30,589,891

Total  number  of  pages,  including  cover  page:

<PAGE>

F1


Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

SILVERADO  GOLD  MINES  LTD.

Years  ended  November  30,  2000,  1999  and  1998

<PAGE>

F2

KPMG LLP
CHARTERED ACCOUNTANTS
BOX 10426, 777 Dunsmuir Street
Vancouver BC V7Y 1K3
Canada
Telephone (604) 691-3000
Telefax   (604) 691-3031
www.kpmg.ca


AUDITORS'  REPORT  TO  THE  SHAREHOLDERS

We  have audited the consolidated balance sheets of Silverado Gold Mines Ltd. as
at  November  30,  2000 and 1999, and the consolidated statements of operations,
stockholders'  equity  (deficiency)  and cash flows for each of the years in the
three  year  period ended November 30, 2000.  These financial statements are the
responsibility of the Company's management.  Our responsibility is to express an
opinion  on  these  financial  statements  based  on  our  audits.

With  respect  to  the  consolidated  financial  statements  for  the year ended
November 30, 2000, we conducted our audit in accordance with Canadian and United
States  generally accepted auditing standards.  With respect to the consolidated
financial  statements  for  the  years  ended  November  30,  1999  and 1998, we
conducted  our  audits  in  accordance with Canadian generally accepted auditing
standards.  Those  standards require that we plan and perform an audit to obtain
reasonable  assurance  whether  the  financial  statements  are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing  the  accounting  principles  used  and  significant estimates made by
management,  as well as evaluating the overall financial statement presentation.

In  our  opinion, these consolidated financial statements present fairly, in all
material respects, the financial position of the Company as at November 30, 2000
and  1999,  and the results of its operations and its cash flows for each of the
years  in  the  three  year  period  ended November 30, 2000, in accordance with
United  States  and  Canadian  generally  accepted  accounting  principles.  As
required  by the Company Act (British Columbia), we report, that in our opinion,
these  principles  have  been  applied  on  a  consistent  basis.

/s/ KPMG  LLP
Chartered  Accountants

Vancouver,  Canada
March  14,  2001

COMMENTS  BY  AUDITOR  FOR  U.S.  READERS  ON  CANADA-U.S.  REPORTING DIFFERENCE

In  the  United States, reporting standards for auditors require the addition of
an  explanatory  paragraph  (following the opinion paragraph) when the financial
statements  are affected by conditions and events that cast substantial doubt on
the Company's ability to continue as a going concern, such as those described in
note  2(a)  to  the  financial statements.  Our report to the shareholders dated
March  14,  2001,  is  expressed in accordance with Canadian reporting standards
which  do  not permit a reference to such events and conditions in the auditor's
report  when  these  are  adequately  disclosed  in  the  financial  statements.

/s/ KPMG  LLP
Chartered  Accountants

Vancouver,  Canada
March  14,  2001

<PAGE>

F3

<TABLE>
<CAPTION>

SILVERADO  GOLD  MINES  LTD.
Consolidated  Balance  Sheets
(Expressed  in  U.S.  Dollars)

November  30,  2000  and  1999


                                                                       2000               1999
<S>                                                            <C>                    <C>
Assets

Current assets:
Gold inventory. . . . . . . . . . . . . . . . . . . . . . . .  $             18,750   $     10,567
Accounts receivable . . . . . . . . . . . . . . . . . . . . .                 5,856         79,935
                                                                             24,606         90,502

Mineral properties (note 3) . . . . . . . . . . . . . . . . .             1,209,529      1,224,200

Buildings, plant and equipment (note 4) . . . . . . . . . . .             2,982,608      2,982,608
Accumulated depreciation. . . . . . . . . . . . . . . . . . .             1,891,048      1,538,322
                                                             --------------------------------------
                                                                          1,091,560      1,444,286
                                                             --------------------------------------
                                                               $          2,325,695   $  2,758,988

Liabilities and Stockholders' Equity (Deficiency)

Current liabilities:
Bank indebtedness . . . . . . . . . . . . . . . . . . . . . .  $              3,007   $      2,385
Accounts payable and accrued liabilities (note 5) . . . . . .             1,213,503      1,162,023
Loans payable secured by gold inventory . . . . . . . . . . .                36,651         49,130
Mineral claims payable. . . . . . . . . . . . . . . . . . . .               366,500        286,500
Due to related party (note 8) . . . . . . . . . . . . . . . .               111,776              -
Convertible debenture, current portion (note 6(a)). . . . . .             2,000,000      2,000,000
                                                               ------------------------------------
                                                                          3,731,437      3,500,038

Convertible debenture (note 6(b)) . . . . . . . . . . . . . .                75,000         75,000

Stockholders' equity (deficiency):
Common stock (note 7):
Authorized: 100,000,000 common shares
Issued and outstanding:
November 30, 2000 - 30,589,891 shares . . . . . . . . . . . .            45,669,977     44,454,365
November 30, 1999 - 15,873,224 shares
Share subscriptions received. . . . . . . . . . . . . . . . .                20,000         28,188
Accumulated deficit . . . . . . . . . . . . . . . . . . . . .           (47,170,719)   (45,298,603)
                                                             --------------------------------------
                                                                         (1,480,742)      (816,050)
                                                             --------------------------------------
                                                               $          2,325,695   $  2,758,988

Continuing operations (note 2(a))
Commitments and contingencies (notes 3 and 10)
Subsequent events (notes 10(c) and 13)


See accompanying notes to consolidated financial statements.

Approved on behalf of the Board:


/s/ signed                                                     /s/ signed
Garry L. Anselmo                                               Stuart C. McCulloch
Director. . . . . . . . . . . . . . . . . . . . . . . . . . .  Director
</TABLE>

<PAGE>

F4

<TABLE>
<CAPTION>

SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Operations
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


                                                                   2000          1999          1998
<S>                                                            <C>           <C>           <C>
Revenue from gold sales . . . . . . . . . . . . . . . . . . .  $    42,433   $   127,940   $     57,915

Operating costs:
Mining and processing costs . . . . . . . . . . . . . . . . .      339,911       227,442        232,405
Amortization of mineral properties. . . . . . . . . . . . . .       14,671        26,800         43,264
Reclamation expense . . . . . . . . . . . . . . . . . . . . .            -             -         60,575
                                                              ------------------------------------------
                                                                   354,582       254,242        336,244
                                                              ------------------------------------------
Loss before the undernoted. . . . . . . . . . . . . . . . . .      312,149       126,302        278,329

Other expenses:
Accounting and audit. . . . . . . . . . . . . . . . . . . . .       41,168        34,737         69,054
Amortization of deferred financing fees . . . . . . . . . . .            -        24,562         37,200
Consulting expense. . . . . . . . . . . . . . . . . . . . . .      114,000             -        185,813
Corporate capital taxes . . . . . . . . . . . . . . . . . . .          505         5,305              -
Depreciation. . . . . . . . . . . . . . . . . . . . . . . . .      352,726       301,408        378,471
Employment contract expense . . . . . . . . . . . . . . . . .            -             -         22,049
General exploration . . . . . . . . . . . . . . . . . . . . .      135,442       182,977              -
Interest on long term debt. . . . . . . . . . . . . . . . . .      163,750       165,000        161,381
Legal . . . . . . . . . . . . . . . . . . . . . . . . . . . .       39,323        31,612        145,102
Loss on disposal of buildings, plant and equipment. . . . . .            -        43,566        178,916
Loss (gain) on foreign exchange . . . . . . . . . . . . . . .      (34,004)       19,573        (28,467)
Management services from related party (note 8) . . . . . . .      286,998        58,200        321,513
Office expenses . . . . . . . . . . . . . . . . . . . . . . .      126,290       118,554        174,910
Other interest and bank charges . . . . . . . . . . . . . . .        9,453        14,535         29,228
Printing and publicity. . . . . . . . . . . . . . . . . . . .       82,167           625         38,712
Receivable allowance. . . . . . . . . . . . . . . . . . . . .            -       153,561        363,667
Reporting and investor relations. . . . . . . . . . . . . . .       17,337         1,599         55,279
Research. . . . . . . . . . . . . . . . . . . . . . . . . . .      198,827             -              -
Transfer agent fees and mailing expenses. . . . . . . . . . .       25,985           275         63,692
Write-down of mineral properties and
development costs . . . . . . . . . . . . . . . . . . . . . .            -       167,000     14,464,054
                                                             -------------------------------------------
                                                                 1,559,967     1,323,089     16,660,574

Loss and comprehensive loss for the year. . . . . . . . . . .  $(1,872,116)  $(1,449,391)  $(16,938,903)

Loss per share. . . . . . . . . . . . . . . . . . . . . . . .  $     (0.08)  $     (0.11)  $      (1.89)

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

<PAGE>

F5

<TABLE>
<CAPTION>

SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Cash  Flows
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


                                                                    2000          1999          1998
<S>                                                             <C>           <C>           <C>
Cash provided by (used in):

Operating activities:
Loss for the year. . . . . . . . . . . . . . . . . . . . . . .  $(1,872,116)  $(1,449,391)  $(16,938,903)
Items not involving cash:
Write down of mineral properties . . . . . . . . . . . . . . .            -       167,000     14,464,054
Consulting services expense. . . . . . . . . . . . . . . . . .      100,000             -        167,063
Employment contract expense. . . . . . . . . . . . . . . . . .            -             -         22,049
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . .      352,726       301,408        378,471
Amortization of deferred financing fees. . . . . . . . . . . .            -        24,562         37,200
Loss on disposal of buildings, plant and equipment . . . . . .            -        43,566        178,916
Amortization of mineral properties . . . . . . . . . . . . . .       14,671        26,800         43,264
Changes in non-cash operating working capital:
Accounts receivable. . . . . . . . . . . . . . . . . . . . . .       74,079       (76,175)         4,537
Gold inventory . . . . . . . . . . . . . . . . . . . . . . . .       (8,183)       12,881         25,427
Prepaid expenses to related parties. . . . . . . . . . . . . .            -             -        366,303
Mineral claims payable . . . . . . . . . . . . . . . . . . . .       80,000       136,500        342,000
Accounts payable and accrued liabilities . . . . . . . . . . .       71,480       257,455        382,090
                                                              -------------------------------------------
                                                                 (1,187,343)     (555,394)      (527,529)

Investing activities:
Mineral claims and options expenditures, net of recoveries . .            -       (10,000)      (276,127)
Deferred exploration expenditures net of recoveries. . . . . .            -             -       (912,888)
Proceeds from sale of equipment. . . . . . . . . . . . . . . .            -        35,642        718,977
Purchases of equipment . . . . . . . . . . . . . . . . . . . .            -             -         (5,289)
                                                              -------------------------------------------
                                                                          -        25,642       (475,327)

Financing activities:
Bank indebtedness. . . . . . . . . . . . . . . . . . . . . . .          622        (2,011)         4,396
Shares issued for cash . . . . . . . . . . . . . . . . . . . .      872,424       379,445        588,800
Loans payable. . . . . . . . . . . . . . . . . . . . . . . . .            -        49,130              -
Repayment of loans payable . . . . . . . . . . . . . . . . . .      (12,479)            -              -
Share subscriptions received . . . . . . . . . . . . . . . . .       20,000        28,188              -
Secured advances to related parties. . . . . . . . . . . . . .            -             -        480,236
Due to related party . . . . . . . . . . . . . . . . . . . . .      306,776             -              -
Convertible debentures . . . . . . . . . . . . . . . . . . . .            -        75,000              -
Capital lease obligation . . . . . . . . . . . . . . . . . . .            -             -        (91,490)
                                                              -------------------------------------------
                                                                  1,187,343       529,752        981,942

Decrease in cash . . . . . . . . . . . . . . . . . . . . . . .            -             -        (20,914)

Cash at beginning of year. . . . . . . . . . . . . . . . . . .            -             -         20,914
                                                              -------------------------------------------
Cash at end of the year. . . . . . . . . . . . . . . . . . . .  $         -   $         -   $          -

Supplemental cash flow information
Interest paid. . . . . . . . . . . . . . . . . . . . . . . . .  $     3,750   $         -   $     80,000

Non-cash activities not reflected in statements of cash flows:
Issue of shares in exchange for reduction in
accounts payable . . . . . . . . . . . . . . . . . . . . . . .       20,000             -              -
Issue of shares in exchange for debt reduction
to related party . . . . . . . . . . . . . . . . . . . . . . .      195,000             -              -
Reversal of accrued option payments of a prior year. . . . . .            -      (192,000)             -
Issue of shares for purchase of mineral property . . . . . . .            -             -        289,200
Issue of shares for consulting services in lieu
of payment of cash . . . . . . . . . . . . . . . . . . . . . .      100,000             -        112,500
Issue of shares for share subscriptions received
in prior year. . . . . . . . . . . . . . . . . . . . . . . . .       28,188             -        112,500


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

<PAGE>

F6

<TABLE>
<CAPTION>

SILVERADO  GOLD  MINES  LTD.
Consolidated  Statements  of  Stockholders'  Equity  (Deficiency)
(Expressed  in  U.S.  Dollars)
Years  ended  November  30,  2000,  1999  and  1998



                                                                                                                      Unamortized
                                                                                                      Share              stock
                                                                     Number          Share         subscriptions    compensation
                                                                   of shares        capital          received           expense
<S>                                                               <C>           <C>               <C>              <C>
Balance, November 30, 1997 . . . . . . . . . . . . . . . . . . .   80,012,218   $     43,084,420  $            -   $    (151,612)
Year ended November 30, 1998
Loss of the year . . . . . . . . . . . . . . . . . . . . . . . .            -                  -               -               -
Share consolidation. . . . . . . . . . . . . . . . . . . . . . .  (72,010,996)                 -               -               -
Shares issued:
On exercise of warrants for cash . . . . . . . . . . . . . . . .      255,000            216,200               -               -
Private placements for cash. . . . . . . . . . . . . . . . . . .    2,446,668            372,600               -               -
Private placement for consulting services: . . . . . . . . . . .      125,000            112,500               -               -
Fair value of shares issued for
mineral property . . . . . . . . . . . . . . . . . . . . . . . .      170,000            289,200               -               -
Amortization of stock compensation . . . . . . . . . . . . . . .            -                  -                         151,612
Cash received on sale of common shares
by related party . . . . . . . . . . . . . . . . . . . . . . . .            -                  -               -               -
Uncollected balance recorded as
a receivable allowance . . . . . . . . . . . . . . . . . . . . .            -                  -               -               -
                                                                ------------------------------------------------------------------
                                                                  (69,014,328)           990,500               -         151,612
                                                                ------------------------------------------------------------------
Balance, November 30,1998. . . . . . . . . . . . . . . . . . . .   10,997,890         44,074,920               -               -
Year ended November 30, 1999
Loss for the year. . . . . . . . . . . . . . . . . . . . . . . .            -                  -               -               -
Shares issued:
On exercise of warrants for cash . . . . . . . . . . . . . . . .    4,008,667            250,050               -               -
Private placements for cash. . . . . . . . . . . . . . . . . . .      866,667            129,395               -               -
Cash received for shares to be issued. . . . . . . . . . . . . .            -                  -          28,188               -
                                                                ------------------------------------------------------------------
                                                                    4,875,334            379,445          28,188               -
                                                                ------------------------------------------------------------------
Balance, November 30, 1999 . . . . . . . . . . . . . . . . . . .   15,873,224         44,454,365          28,188               -
Year ended November 30, 2000
Loss for the year. . . . . . . . . . . . . . . . . . . . . . . .            -                  -               -               -
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)              -
                                                                ------------------------------------------------------------------
Balance, November 30, 2000 . . . . . . . . . . . . . . . . . . .   30,589,891   $     45,669,977  $       20,000   $           -

See accompanying notes to the consolidated financial statements.

                                                                    Advances to
                                                                  related parties
                                                                    secured by
                                                                   common shares     Accumulated
                                                                   in the Company      deficit         Total
<S>                                                               <C>               <C>            <C>
Balance, November 30, 1997 . . . . . . . . . . . . . . . . . . .  $      (480,236)  $(26,910,309)  $ 15,542,263
Year ended November 30, 1998
Loss of the year . . . . . . . . . . . . . . . . . . . . . . . .                -    (16,938,903)   (16,938,903)
Share consolidation. . . . . . . . . . . . . . . . . . . . . . .                -              -              -
Shares issued:
On exercise of warrants for cash . . . . . . . . . . . . . . . .                -              -        216,200
Private placements for cash. . . . . . . . . . . . . . . . . . .                -              -        372,600
Private placement for consulting services: . . . . . . . . . . .                -              -        112,500
Fair value of shares issued for
mineral property . . . . . . . . . . . . . . . . . . . . . . . .                -              -        289,200
Amortization of stock compensation . . . . . . . . . . . . . . .                -              -        151,612
Cash received on sale of common shares
by related party . . . . . . . . . . . . . . . . . . . . . . . .          225,448              -        225,448
Uncollected balance recorded as
a receivable allowance . . . . . . . . . . . . . . . . . . . . .          254,788              -        254,788
                                                                ------------------------------------------------
                                                                          480,236    (16,938,903)   (15,316,555)

Balance, November 30,1998. . . . . . . . . . . . . . . . . . . .                -    (43,849,212)       225,708
Year ended November 30, 1999
Loss for the year. . . . . . . . . . . . . . . . . . . . . . . .                -     (1,449,391)    (1,449,391)
Shares issued:
On exercise of warrants for cash . . . . . . . . . . . . . . . .                -              -        250,050
Private placements for cash. . . . . . . . . . . . . . . . . . .                -              -        129,395
Cash received for shares to be issued. . . . . . . . . . . . . .                -              -         28,188
                                                                ------------------------------------------------
                                                                                -     (1,449,391)    (1,041,758)

Balance, November 30, 1999 . . . . . . . . . . . . . . . . . . .                -    (45,298,603)      (816,050)
Year ended November 30, 2000
Loss for the year. . . . . . . . . . . . . . . . . . . . . . . .                -     (1,872,116)    (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
                                                                ------------------------------------------------
                                                                                -     (1,872,116)      (664,692)
                                                                ------------------------------------------------
Balance, November 30, 2000 . . . . . . . . . . . . . . . . . . .  $             -   $(47,170,719)  $ (1,480,742)

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

<PAGE>

F7

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


1.     DESCRIPTION  OF  BUSINESS:

Silverado  Gold  Mines  Ltd.  is  engaged  in  the  acquisition, exploration and
development  of  mineral  properties  and the development of low-rank coal-water
fuel as a replacement for oil fired boilers and utility generators.  The Company
has  produced  gold  from its Nolan property during each of the past three years
and  has  had  production  from  its  mineral properties in years prior to those
years.

2.     SIGNIFICANT  ACCOUNTING  POLICIES:

These  consolidated  financial statements are prepared in conformity with United
States  generally  accepted  accounting principles.  The application of Canadian
generally accepted accounting principles to these financial statements would not
result  in  material  measurement  or  disclosure  differences.

(a)     Continuing  operations:

At November 30, 2000, the Company had a working capital deficiency of $3,706,831
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
convertible  debenture of $400,000 to December 31, 2000.  The Company is also in
arrears  of  required  mineral  claims  and  option  payments for certain of its
mineral  properties  at  November  30,  2000,  in the amount of $366,500 (1999 -
$286,500)  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.

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 (note 14).  The Company also plans to option to third parties the
Ester  Dome  and Marshall Dome properties, near Fairbanks, Alaska.  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.

(b)     Basis  of  consolidation:

The  consolidated  financial  statements  include the accounts of Silverado Gold
Mines  Inc.,  a wholly owned subsidiary.  All material intercompany accounts and
transactions  have  been  eliminated.

<PAGE>

F8

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


2.     SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED):

(c)     Gold  inventory:

Gold inventory is valued at the lower of weighted average cost and estimated net
realizable  value.  Gold  inventory  is  valued  at net realizable value for all
periods  presented.  Any  write-down  of  inventory  to  net realizable value is
included  in  mining  and  processing  costs.

(d)     Mineral  properties:

The  Company  confines  its  exploration activities to areas from which gold has
previously been produced or to properties which are contiguous to such areas and
have  demonstrated  mineralization.

The Company capitalizes the costs of acquiring mineral claims until such time as
the  properties  are  placed  into  production  or  abandoned.

Amortization  of  mineral property costs relating to properties in production is
provided during periods of production using the units-of-production method based
on  the  estimated  economic  life  of  the  ore  reserves.

On an ongoing basis, the Company evaluates each property for impairment based on
exploration  results  to  date,  and considering facts and circumstances such as
operating results, cash flows and material changes in the business climate.  The
carrying value of a long-lived asset is considered impaired when the anticipated
discounted cash flow from such asset is separately identifiable and is less than
its  carrying value.  If an asset is impaired, a loss is recognized based on the
amount  by  which  the  carrying  value  exceeds  the  fair  market value of the
long-lived  asset.  Fair  market  value  is  determined  primarily  using  the
anticipated  discounted  cash  flows  with a discount rate commensurate with the
risk  involved.  Losses  on  other  long-lived  assets  to  be  disposed  of are
determined  in  a similar manner, except that fair market values are reduced for
the  costs  of  disposal.

During  2000,  the  Company  evaluated  its  mineral  properties  and recorded a
write-down  of  nil  (1999  -  $167,000;  1998  -  $14,464,054)  based  on  this
evaluation.  The  write-down  for 1998 related primarily to deferred exploration
and  development which was capitalized in previous years.  Exploration costs and
option  payments  are  expensed  as  incurred  commencing  in  1998.

The  amounts  shown  for  mineral  properties and development which have not yet
commenced  commercial  production  represent  costs  incurred  to  date,  net of
recoveries  from  developmental  production,  and  are  not  intended to reflect
present  or  future  values.

(e)     Reclamation:

The  Company's  operations  are affected by Federal, state, provincial and local
laws  and regulations regarding environmental protection.  The Company estimates
the  cost  of  reclamation  based  primarily  upon  environmental and regulatory
requirements.  These  costs  are  accrued  annually and the accrued liability is
reduced  as  reclamation  expenditures  are  made.

(f)     Buildings,  plant  and  equipment:

Buildings,  plant and equipment are stated at cost.  Depreciation is provided on
buildings, plant and equipment using the straight-line method based on estimated
lives  of  3  to  20  years.

<PAGE>

F9

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


2.     SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED):

(g)     Foreign  currencies:

The Company considers its functional currency to be the U.S. dollar for its U.S.
and Canadian operations.  Monetary assets and liabilities denominated in foreign
currencies  are translated into U.S. funds at the rates of exchange in effect at
the  year  end.  Non-monetary  assets  and  revenue and expense transactions are
translated  at  the  rate  in  effect at the time at which the transactions took
place.  Foreign  exchange  gains and losses are included in the determination of
results  from  operations  for  the  year.

(h)     Loss  per  share:

Loss  per  share  has  been  calculated  based on the weighted average number of
shares  outstanding  during  the  year.  The  weighted  average number of shares
outstanding,  for  the  purpose  of  loss per share calculations, is as follows:


2000     24,335,165
1999     13,596,272
1998     8,942,186


Loss  per share does not include the effect of the potential exercise of options
and  warrants  and  the  conversion  of  debentures,  as  their  effect would be
anti-dilutive.

(i)     Revenue  recognition:

Gold  sales  are  recognized  when  title  passes  to the purchaser and delivery
occurs.

(j)     Research  expenditures:

Research  expenditures  are  expensed  in  the  year  incurred.

(k)     Accounting  for  stock-based  compensation:

For  stock  options granted to employees and directors, the Company accounts for
stock  compensation  arising  from  these  options in accordance with Accounting
Principles  Board  Opinion  No.  25,  "Accounting for Stock Issued to Employees"
("APB 25").  Compensation cost is the excess, if any, of the quoted market price
of  the  stock at grant date over the amount an employee or director must pay to
acquire  the  stock  and  is  recognized  over  the  service  period.

For  stock  options  granted  to  independent  contract  employees,  the Company
accounts  for  stock  compensation arising from these options in accordance with
Statement  of  Financial  Standards  No.  123,  "Accounting  for  Stock  Based
Compensation".  Under  this  statement,  stock  compensation  cost  to  contract
employees  is  measured  at the fair value of the options granted as the service
and  period  are  the  options  earned.

<PAGE>

F10

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


2.     SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED):

(l)     Use  of  estimates:

The  preparation  of  financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of  assets  and  liabilities  and  disclosure of
contingent  assets  and  liabilities at the date of the financial statements and
the  reported  amounts  of  revenues  and  expenses during the reporting period.
Significant  areas  requiring  the  use  of  management  estimates relate to the
amortization  and  depreciation  rates  for,  and  recoverability  of,  mineral
properties  and buildings, plant and equipment, and the determination of accrued
remediation  expense.  Actual  results  could  differ  from  those  estimates.

(m)     Income  taxes:

The  Company  accounts  for  income  taxes using the asset and liability method.
Under  the  asset  and  liability  method, future tax assets and liabilities are
recognized  for  the future tax consequences attributable to differences between
the  financial statement carrying amounts of existing assets and liabilities and
their  respective  tax  bases.  Future  tax  assets and liabilities are measured
using  enacted  tax  rates  expected  to apply to taxable income in the years in
which  those  temporary  differences are expected to be recovered or settled.  A
valuation  allowance  is  recorded  against  any  future tax asset if it is more
likely  than  not that the asset will not be realized.  The effect on future tax
assets  and  liabilities of a change in tax rates is recognized in income in the
period  that  includes the enactment date.  Income tax expense or benefit is the
sum  of  the  Company's  provision  for  current income taxes and the difference
between  the  opening  and  ending  balance  of the future income tax assets and
liabilities.

3.     MINERAL  PROPERTIES:

(a)     Mineral  properties:

(A)     Ester  Dome  Gold  Project,  Fairbanks  Mining  District,  Alaska:
The Ester Dome Gold Project encompasses all of the Company's properties on Ester
Dome,  which is accessible by road 10 miles northwest of Fairbanks, Alaska.  The
specific  properties  at  this  site  are  as  follows:

(i)     Grant  Mine:

This  property consists of 26 state mineral claims subject to payments of 15% of
net  profits  until  $2,000,000  has been paid and 3% of net profits thereafter.

(ii)     May  (St.  Paul)  /  Barelka:

This  gold  property  consists of 22 State mineral claims subject to payments of
15%  of net profits until $2,000,000 (inflation indexed from 1979) has been paid
and  3%  of  net  profits  thereafter.

(iii)     Dobb's:

This property consists of 1 unpatented Federal mineral claim and 4 State mineral
claims  subject to payments of 15% of net profits until $1,500,000 has been paid
and  3%  of  net  profits  thereafter.

<PAGE>

F11

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


3.     MINERAL  PROPERTIES  (CONTINUED):

(a)     Mineral  properties  (continued):

(A)     Ester  Dome Gold Project, Fairbanks Mining District, Alaska (continued):

(iv)     Range  Minerals  #1  and  Range  Minerals  #2:

During  the  year  ended  November 30, 1999, the Company chose to relinquish its
interest  in  the  Range  Minerals  #1  and Range Minerals #2 mineral properties
reducing  the  Company's  holdings to an area of approximately 2.5 square miles.
All previous deferred costs related to these mineral properties were written off
during  1999.

(B)     Marshall  Dome  Property,  Fairbanks  Mining  District,  Alaska:

This property consists of 38 State claims and covers an area of two and one-half
square  miles,  and  is  located  eighteen  miles  northeast  of  Fairbanks.

(C)     Nolan  Gold  Project,  Wiseman  Mining  District,  Alaska:

The  Nolan  Gold  Project  consists  of  five  contiguous  properties  covering
approximately six square miles, eight miles west of Wiseman, and 175 miles north
of  Fairbanks,  Alaska.  The  specific  properties  at this site are as follows:

(i)     Nolan  Placer:

This  property  consists  of  160  unpatented  Federal  placer  claims.

(ii)     Thompson's  Pup:

This property consists of 6 unpatented Federal placer claims and is subject to a
royalty  of  3%  of  net  profits  on  80%  of  production.

(iii)     Dionne  (Mary's  Bench):

This  property  consists  of  15  unpatented  Federal  placer  claims.

(iv)     Smith  Creek:

This property consists of 35 unpatented Federal placer claims.  The property was
purchased  in  1993  with  scheduled  payments  to  be completed in 1998.  As at
November  30,  2000  $120,000  (1999  -  $120,000)  of the acquisition costs are
unpaid,  in  arrears,  and  included  in  mineral  claims  payable.

(v)     Nolan  Lode

This  property  consists  of 32 unpatented Federal lode claims.  The lode claims
overlie  much  of  the  placer  properties  and  extend  beyond  them.

(D)     Hammond  Property,  Wiseman  Mining  District,  Alaska:

This  property  consists  of 28 Federal placer claims and 36 Federal lode claims
covering  one and one-half square miles and adjoining the Nolan Gold Properties.
As at November 30, 2000, option payments totaling $240,000 (1999 - $160,000) are
unpaid,  in  arrears,  and  included  in  mineral  claims  payable.

<PAGE>

F12

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


3.     MINERAL  PROPERTIES  (CONTINUED):

(a)     Mineral  properties  (continued):

(E)     French  Peak  Property,  Omineca  Mining  District,  British  Columbia:

This  property  consisted  of 4 mineral claims covering approximately one square
mile  located 40 miles northwest of Smithers, British Columbia.  During the year
ended  November  30,  1999,  the Company chose to relinquish its interest in the
French  Peak  mineral  property.  All  previous  deferred costs were written off
during  1999.

(F)     Whiskey  Gulch  Property,  Fairbanks  Mining  District,  Alaska

This  property consists of 4 claims and is half a mile southwest of the Marshall
Dome  Property.  On  November 9, 1999, the Company sold its 100% interest in the
Whiskey  Gulch  mineral property to a subsidiary of Kinross Gold Corporation for
$50,000  in  cash  and  a  net smelter royalty which escalates from 2.0% to 4.0%
depending on the market price of gold.  All previous deferred costs were written
off  during  1999.

(b)     Property  commitments:

As  at  November  30,  2000, minimum aggregate future cash expenditures for work
commitments  required  in the next five years to maintain the properties in good
standing,  in  addition  to  amounts  accrued  as mineral claims payable, are as
follows:


2001     $     50,000
2002           50,000
2003           50,000
2004           50,000
2005           50,000


<PAGE>

F13

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


3.     MINERAL  PROPERTIES  (CONTINUED):

(c)     Mineral  claim  expenditures:

Cumulative  claims  expenditures  are  as  follows:

<TABLE>
<CAPTION>


                                                   Alaska
                                                ------------
                                                                 Hammond      Whiskey   British Columbia
                 Ester Dome   Marhall Dome       Nolan Gold      Property     Gulch     French Peak        Total
<S>             <C>           <C>            <C>                 <C>        <C>        <C>            <C>
Balance,
November 30,
1998 . . . . .  $   750,000   $     350,000  $         350,000   $  85,000  $ 50,000   $     15,000   $1,600,000
Mineral claims
payments
and accruals .     (192,000)              -             60,000           -         -              -     (132,000)
Recoveries/
proceeds . . .            -               -                  -           -   (50,000)             -      (50,000)
Amortization .            -               -            (26,800)          -         -              -      (26,800)
Writedown. . .     (152,000)              -                  -           -         -        (15,000)    (167,000)

Balance,
November 30,
1999 . . . . .      406,000         350,000            383,200      85,000         -              -    1,224,200
Amortization .            -               -            (14,671)          -         -              -      (14,671)

Balance,
November 30,
2000 . . . . .  $   406,000   $     350,000  $         368,529   $  85,000  $      -   $          -   $1,209,529
</TABLE>

4.     BUILDINGS,  PLANT  AND  EQUIPMENT:

Buildings, plant and equipment primarily include the mill facility and equipment
of  the  Ester  Dome/Grant  Mine  Gold  Project  and  mining  equipment and camp
facilities  at  the  Nolan  Gold  Project.

<TABLE>
<CAPTION>



                                                                 Accumulated     Net book
2000                                                      Cost   depreciation       value
<C>      <S>                                      <C>           <C>         <C>       <C>
Grant Mine Mill Equipment                              $2,076,780  $1,176,939  $  899,841
Nolan Gold Project Mining Equipment                        60,757      52,837       7,920
Mining Equipment                                          459,787     396,244      63,543
Other Equipment, Leasehold Improvements                   385,284     265,028     120,256

                                                       $2,982,608  $1,891,048  $1,091,560


                                                                   Accumulated   Net book
1999                                                      Cost     depreciation     value

Grant Mine Mill Equipment                              $2,076,780  $1,014,530  $1,062,250
Nolan Gold Project Mining Equipment                        60,757      29,117      31,640
Mining Equipment                                          459,787     269,665     190,122
Other Equipment, Leasehold Improvements                   385,284     225,010     160,274

                                                       $2,982,608  $1,538,322  $1,444,286
</TABLE>

<PAGE>

F14

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


5.     ACCOUNTS  PAYABLE  AND  ACCRUED  LIABILITIES:

Accounts  payable  and  accrued  liabilities  consist  of:

                                        2000              1999

Accounts  payable                 $     550,836     $     659,356
Accrued  interest                       466,667           306,667
Accrued  reclamation  expense           196,000           196,000

                                $     1,213,503     $   1,162,023

6.     CONVERTIBLE  DEBENTURES:

(a)     In  July  1994,  the Company issued a convertible callable debenture for
$2,000,000  with  interest  payable at the rate of 8.0% per annum on December 31
and June 30 each year.  The debenture is unsecured and was due July 2, 1999. The
debenture  may be converted in whole or in part by the holder into common shares
of  the  Company at a conversion price of $18.57 U.S. per share (the "Conversion
Price").  In  addition, conversion of the debenture may be called by the Company
provided  that  the  average  trading  price  of  the Company's common stock has
exceeded 125% of the Conversion Price for a period of twenty consecutive trading
days.  The  Company  has  not  made  required  interest  payments of $400,000 to
December  31,  2000.  The Company was granted a deferral of these payments based
on  semi-monthly  progress  updates until financing is in place.  Total interest
payable  at  November 30, 2000, amounting to $466,667 (1999 - $306,667) has been
recorded  as  a  current  liability.

(b)     In February 1999, the Company issued a convertible 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.  The debenture may be converted in whole or in
part  by  the  holder into common shares of the Company at a conversion price of
$0.40  per  share.

7.     SHARE  CAPITAL:

(a)     Common  shares:

By  Special  Resolution passed May 25, 1998, the Company consolidated its common
shares  with  each  10  common  shares  being  consolidated into 1 common share.
Concurrently, the Company increased its authorized capital to 100,000,000 common
shares  without par value.  The effect of the 1:10 consolidation during 1998 has
been  retroactively  applied  to  all  share capital balances disclosed in these
financial  statements.

The  Company  has reserved 295,192 (1999 - 295,192) shares for issuance upon the
potential  conversion  of  convertible  debentures.

<PAGE>

F15

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


7.     SHARE  CAPITAL  (CONTINUED):

(b)     Director  and  employee  options:

The following director and employee options were granted and canceled during the
years  ended  November  30,  1998,  1999, and 2000 and were outstanding on those
dates:

<TABLE>
<CAPTION>


                                    Number        Weighted average
                                  of options       exercise price
<S>                               <C>             <C>
Outstanding at November 30, 1997     228,461      $         6.63
Granted. . . . . . . . . . . . .      10,000                2.80

Outstanding at November 30, 1998     238,461                6.47
Granted. . . . . . . . . . . . .   3,500,000                0.10
Cancelled. . . . . . . . . . . .    (238,461)               6.47

Outstanding at November 30, 1999   3,500,000                0.10
Exercised. . . . . . . . . . . .  (2,350,000)               0.10

Outstanding at November 30, 2000   1,150,000                0.10
</TABLE>

All  of  the  options  were  fully  vested  on  granting.  The  weighted average
remaining  contractual life of the options outstanding at November 30, 2000, was
4  years  (1999  -  5  years).  All outstanding options at November 30, 2000 are
exercisable.

The  Company  accounts  for stock compensation arising from options to employees
and  directors  in  accordance with APB 25.  Had the compensation cost for these
employee  and  director options been determined based on fair value at the grant
dates,  consistent  with  the requirements  of Statement of Financial Accounting
Standards  No. 123, "Accounting for Stock Based Compensation", the Company's net
loss  and loss per share would have increased to the pro forma amounts indicated
below.

<TABLE>
<CAPTION>


                            2000          1999          1998
<S>                     <C>           <C>           <C>
Loss for the year:
As reported. . . . . .  $(1,872,116)  $(1,449,391)  $(16,938,903)
Pro forma. . . . . . .   (1,872,116)   (1,633,121)   (16,938,903)

Loss per common share:
As reported. . . . . .  $     (0.08)  $     (0.11)  $      (1.89)
Pro forma. . . . . . .        (0.08)        (0.12)         (1.89)
</TABLE>

The  estimated  weighted  average  fair value of the options granted in 1999 was
prepared using the Black-Scholes Pricing Model assuming a risk-free rate of 6.5%
(1998  -  6%),  an  expected  dividend  yield  of  0%  (1998  - 0%), an expected
volatility of 105% (1998 - 57%), and a weighted average expected life of 5 years
(1998  -  9  years).

<PAGE>

F16

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


7.     SHARE  CAPITAL  (CONTINUED):

(c)     Warrants:

In  conjunction  with  the  private placements of common shares, the Company has
issued  and  has  outstanding at November 30, 1999 and 2000, the following share
purchase  warrants.  Each  share purchase warrant entitles the holder to acquire
one  common  share  of  the  Company.

<TABLE>
<CAPTION>



Balance,                                                    Balance,
November 30,  Issued in              Exercised   Expired   November 30,   Exercise    Expiry
1999             2000                 in 2000    in 2000     2000          price       date        Notes
<C>        <C>           <C>        <C>          <C>      <C>           <C>          <C>         <S>      <C>    <C>
  866,667             -               (866,667)                  -     $     0.05      Mar99
  250,000             -                      -   (250,000)       -           2.20      Mar00
  250,000             -                      -   (250,000)       -           2.20      Mar00
        -     1,000,000               (500,000)  (500,000)       -           0.22      Mar00
        -     2,000,000             (2,000,000)         -        -           0.04      Jun00
        -     1,000,000             (1,000,000)         -        -           0.08      Aug00         (1)
        -     1,750,000             (1,750,000)         -        -           0.08      Mar02
        -     1,400,000               (300,000)         -    1,100,000       0.10      Mar02
        -       800,000               (300,000)         -      500,000       0.12      Jul02
        -       700,000                      -          -      700,000       0.40      Mar02

1,366,667     8,650,000             (6,716,667) (1,000,000) 2,300,000
</TABLE>


(1)     Original  exercise  price  was $0.20.  The exercise price was reduced to
$0.10  and  500,000  warrants  were  exercised.  The  exercise price was reduced
further  to  $0.08  and  an  additional  500,000  warrants  were  exercised.

(d)     Contract  employee  options:

The  following contract employee stock options were granted, exercised, canceled
and  expired  during  the years ended November 30, 1998, 1999, and 2000 and were
outstanding  at  these  dates:

                                         Number                Weighted  average
                                      of  options                 exercise price

Outstanding at November 30, 1997         62,892                       $     4.83
Expired  or  cancelled                  (46,738)                            4.54

Outstanding at November 30, 1998         16,154                             5.57
Expired  or  cancelled                  (16,154)                            5.57

Outstanding at November 30,
1999 and 2000                                -                           $     -

(e)     Other  stock-based  compensation:

In  fiscal 1998, the Company issued 125,000 common shares with a market value of
$0.90  per  share  in  exchange  for  consulting  services.

In  fiscal  2000, the Company issued 1,000,000 common shares with a market value
of  $0.10  per  share  in  exchange  for  consulting  services.

<PAGE>

F17

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


8.     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,  and Kintana Resources Ltd., a company related by virtue of common
directors.

The  Tri-Con  Group are operations, exploration and development contractors, and
have been employed by the Company under contract since 1972 to carry out all its
field  work  and  to  provide administrative and management services.  Under the
current  contract  dated  January,  1997,  work  is charged at cost plus 15% for
operations  and  cost  plus  25  percent  for exploration and development.  Cost
includes  a 15 percent charge for office overhead.  Services of the directors of
the  Tri-Con  Group are charged at a rate of Cdn. $75 per hour.  Services of the
directors  of  the  Tri-Con  Group who are also Directors of the Company are not
charged.  At  November  30, 2000, the Company had prepaid $nil (1999 - $241,265;
1998  -  $363,667)  to  the  Tri-Con  Group  for  exploration,  development  and
administration  services to be performed during the next fiscal period on behalf
of  the Company.  The amounts have been written-off in the respective years as a
receivable  allowance.

The aggregate amounts paid to the Tri-Con Group each year 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>


                                                2000       1999        1998
<S>                                           <C>        <C>        <C>
Operations and field services. . . . . . . .  $120,850   $ 24,562   $  192,706
Exploration and development services . . . .   244,771    214,211    1,160,169
Administrative and management services . . .   286,998     58,200      321,513
Research . . . . . . . . . . . . . . . . . .   198,827          -            -

                                              $851,446   $296,973   $1,674,388

Amount of total charges in excess of Tri-Con
costs incurred . . . . . . . . . . . . . . .  $126,699   $ 54,526   $  248,858

Excess amount charged as a percentage of
actual costs incurred. . . . . . . . . . . .      17.5%      24.0%        17.5%
</TABLE>


During  fiscal 1997, the Company advanced $480,236 to the Tri-Con Group  secured
by  that portion of the 2,119,834 common shares of the Company owned by Tri-Con.
During  fiscal  1998,  the Tri-Con Group sold all of the 2,119,934 common shares
held in the Company for net proceeds of $225,448.  The Company received $225,448
from  the  Tri-Con  Group  as part payment of the $480,236 advance receivable at
November  30, 1997.  The remaining unpaid amount was written off as a receivable
allowance.

<PAGE>

F18

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


9.     INCOME  TAXES:

Tax  effects  of  temporary differences that give rise to deferred tax assets at
November  30,  2000  and  1999  are  as  follows:

<TABLE>
<CAPTION>


                                                               2000          1999
<S>                                                        <C>           <C>
Net operating loss carry forwards . . . . . . . . . . . .  $ 9,610,000   $ 9,849,000
Valuation allowance . . . . . . . . . . . . . . . . . . .   (9,363,000)   (9,479,000)

Net deferred tax assets . . . . . . . . . . . . . . . . .      247,000       370,000

Deferred tax liability:
Temporary differences arising from mineral properties and
building, plant and equipment . . . . . . . . . . . . . .     (247,000)     (370,000)

Net deferred tax asset. . . . . . . . . . . . . . . . . .  $         -   $         -
</TABLE>


At  November  30,  2000,  the  Company  has  losses  carried  forward  totaling
$22,032,000  available  to  reduce  future  years'  income  for  U.S. income tax
purposes  which  expire  in various years to 2020.  In addition, the Company has
losses  carried  forward  in Canada totaling $13,419,000 which expire in various
years  to  2007.

The  provision for income taxes differs from the amount computed by applying the
statutory federal income tax rate of 34% (1999 and 1998: 34%) to net loss before
provision  for income taxes.  The sources and tax effects of the differences are
as  follows:

<TABLE>
<CAPTION>



                                             2000        1999         1998
<S>                                       <C>         <C>         <C>
Computed "expected" tax benefit. . . . .  $(637,000)  $(493,000)  $(5,759,000)
Tax loss expired during the year . . . .    666,000     227,000       186,000
Change in valuation allowance. . . . . .   (116,000)    266,000     5,573,000
Difference in foreign tax rate and other     87,000           -             -

Income tax provision . . . . . . . . . .  $       -   $       -   $         -
</TABLE>

10.     COMMITMENTS  AND  CONTINGENCIES:

(a)     Office  lease:

On  January  20,  1994,  the  Company  entered into a lease agreement for office
premises  for  a  term of 10 years commencing April 1, 1994, with an approximate
annual  rental  of  $84,700  (Cdn$130,000)  including  operating  costs.

(b)     Severance  agreements  with  directors:

The Company has entered into compensation agreements with the three directors of
the  Company.  The  agreements provide for severance arrangements where a change
of  control of the Company occurs, as defined, and the directors are terminated.
The  compensation  payable  to  the  directors  aggregates  $4,200,000  (1999  -
$4,200,000) plus the amount of annual bonuses and other benefits that they would
have  received  in  the  eighteen  months  following  termination.

<PAGE>

F19

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


10.     COMMITMENTS  AND  CONTINGENCIES  (CONTINUED):

(c)     Litigation:

A former employee of the Tri-Con Group had initiated a claim against the Tri-Con
Group and the Company for wrongful dismissal/breach of contract in the amount of
$150,000.  The  Company  was named as a co-defendant in the suit.  Subsequent to
November  30,  2000,  the  claim  was  settled  for  $15,000.

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  November  30,  2000, no provision for this litigation has been
made  in  the  consolidated  financial  statements.

11.     FINANCIAL  INSTRUMENTS:

The carrying amounts reported in the balance sheet for accounts receivable, bank
indebtedness,  accounts  payable  and  accrued  liabilities,  and  loans payable
secured  by  gold  inventory  approximate  fair  values due to the short-term to
maturity  of  these  instruments.  The  carrying amounts reported in the balance
sheet  for  convertible  debentures  approximate  their fair values as they bear
interest  at  rates  which  approximate  market rates.  The fair value of due to
related  parties  can  not  be determined with sufficient reliability due to the
relationship between the Company and the related party and the lack of a readily
available  market for such instruments.  Details of this amount are disclosed in
note  8.

<PAGE>

F20

SILVERADO  GOLD  MINES  LTD.
Notes  to  Consolidated  Financial  Statements
(Expressed  in  U.S.  Dollars)

Years  ended  November  30,  2000,  1999  and  1998


12.     SEGMENT  DISCLOSURES:

(a)     Reportable  segments:

The  Company  operates  in  one  reportable  segments  being  the  acquisition,
exploration  and  development  of  mineral  properties  .

(b)     Geographic  information:

The  following  presents  financial  information  about  geographic  areas:

<TABLE>
<CAPTION>



                       2000        1999        1998
<S>                 <C>         <C>         <C>
Loss for the year:
Canada . . . . . .  $  404,271  $  256,641  $ 1,469,472
United States. . .   1,467,845   1,192,750   15,469,431

                    $1,872,116  $1,449,391  $16,938,903

Long-lived assets:
Canada . . . . . .  $  120,224  $  183,927  $   212,492
United States. . .   2,180,865   2,484,559    3,212,410

                    $2,301,089  $2,668,486  $ 3,424,902
</TABLE>

13.     SUBSEQUENT  EVENTS:

(a)     Subsequent  to  November  30,  2000,  the  Company  issued an additional
1,400,000  common share purchase warrants, with an exercise price of $0.10 each,
to  a  warrant  holder  from  a  previous  private  placement.

(b)     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
treasury  for  proceeds  of  $100,000.

(c)     Between  the  dates of 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.

(d)     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.

<PAGE>

                                     PART I


ITEM  1          BUSINESS

FORWARD-LOOKING  STATEMENTS

Certain  statements contained herein are "forward-looking statements" within the
meaning  of  Section 21E of the Securities Exchange Act of 1934, as amended, and
are  intended  to  be  covered  by  the  safe  harbors  created  thereby.  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 ore reserve development and
other  factors.

These  risks  and  uncertainties  may cause actual outcomes to materially differ
from  those  forecasted  or  suggested.  Where  the  Company makes statements of
expectation  or  belief  as  to  future  outcomes, such expectation or belief is
expressed  in  good  faith  and  believed  to  have  a  reasonable  basis.
Forward-looking  statements  are  made,  without  limitation,  in  relation  to
operating  plans,  property  exploration and development, availability of funds,
environmental  reclamation,  operating  costs  and  permit  acquisition.

Given  these uncertainties, readers are cautioned not to place undue reliance on
such  forward-looking  statements.

(A)     GENERAL  DEVELOPMENT  OF  BUSINESS

Silverado  Gold  Mines  Ltd.  ("Silverado"  or "the Company"), is engaged in the
acquisition,  exploration  and  development  of  mineral  properties  and  the
development  of  low-rank coal-water fuel as a replacement for oil fired boilers
and  utility  generators.  Silverado  was incorporated under the laws of British
Columbia,  Canada,  in  June  1963,  and operates in the United States through a
wholly-owned subsidiary, Silverado Gold Mines Inc., incorporated in the State of
Alaska  in  1981.

Silverado's  exploration and development activities are managed and conducted by
an  affiliated  company,  Tri-Con  Mining Ltd. ("Tri-Con") pursuant to a written
operating  agreement.  Tri-Con  is  a  privately owned corporation controlled by
Garry  L.  Anselmo, who is President, Chairman, CEO and a Director of Silverado.

The  Company  holds  interests  in  four groups of mineral properties in Alaska.
Silverado's main projects are exploration and development of the Ester Dome Gold
Project,  located 10 miles northwest of Fairbanks, Alaska, and of the Nolan Gold
Project,  located  175  miles  north  of  Fairbanks,  Alaska.

The  Ester  Dome  Project comprises a contiguous group of 1 Federal claim and 52
State  claims  totaling  2.5  square  miles,  including  the Grant Mine, May(St.
Paul)/Barelka  and  Dobb's  Properties,  all located within the Fairbanks Mining
District  in  Alaska.

<PAGE>

Production  of  placer  gold  from  Nolan  Creek  and its tributaries originally
commenced  in 1903.  Silverado began acquiring claims in the area and developing
the placer gold deposits in 1979.  Through 1988, Silverado and a lessee produced
2,400  ounces  of  gold  nuggets.  Due  to  the angular nature and attachment to
quartz  of much of the placer gold recovered, Silverado believes the lode source
should be nearby and has staked lode claims to cover the potential source areas.

From  1990 to 1993, Silverado conducted reclamation, exploration and development
in  preparation  for  commencement  of  production.  Initially,  production  was
carried out on the Thompson's Pup property.  Then, in November 1993, the Company
commenced  production  on  the  Dionne  (Mary's  Bench)  Property.  Gold bearing
gravels  were  mined  by underground methods from a frozen bench deposit.  Since
the  Winter  of  1994/95  almost  14,000  ounces  of gold have been recovered by
Silverado  from these sites, primarily in the form of high-quality nuggets which
sell  at  premium  prices.  From  1995  to  1997,  the  Company  restricted  its
activities  at Nolan as it refocused its resources on its Ester Dome properties.
During that time, the Company substantially reclaimed its previous disturbances.
During  1998  and 1999, the Company concentrated its activities on the Archibald
Creek  area,  located  within Nolan Placer.  Limited mining on the Swede Channel
located  within  Dionne  was also undertaken by a third party.  During 2000, the
Company  conducted mining operations on the Workman's Bench located within Smith
Creek.

In  fiscal  1999  the  Company  reduced  its  mineral  property  holdings  by
relinquishing  the  Range  I  and  Range  II  properties, part of the Ester Dome
Project, and relinquishing the French Peak Property in British Columbia, Canada.

(B)     FINANCIAL  INFORMATION  ABOUT  SEGMENTS

The  Company  has  one  reportable operating segment being: mineral exploration,
development  and  mining.  The  Company  is  also exploring opportunities in the
development  of  low-rank  coal-water  fuel  as a replacement fuel for oil fired
industrial  boilers  and utility generators.  However, significant operations in
the  development  of  low-rank  coal-water  fuel  have  not  yet  begun.

(C)     NARRATIVE  DESCRIPTION  OF  BUSINESS

The  Company's  plan  of  operation is to continue to develop and mine its Nolan
properties,  specifically  the  deep  Nolan  Channel  areas.

During  2000,  the  Company  entered  the  fuel  sector  by  forming a "New Fuel
Technology  Division"  which  operates  out  of  Fairbanks,  Alaska  under  the
supervision  of  Dr.  Warrack  Willson,  V.P.  of  the  new  division.

From  time  to  time as conditions or funds warrant, the Company may re-evaluate
its  development  programs  in  response  to  changing economic or environmental
conditions.  Such  re-evaluation  may  result in the Company either changing its
development  priorities  or  allowing  certain properties or portions thereof to
lapse.

<PAGE>

Mining  activities  in  the U.S. are subject to regulation and inspection by the
Mining  Safety  and  Health  Administration  of  the United States Department of
Labor.  In  addition,  the  Company's  activities  are regulated by a variety of
Federal, state, provincial and local laws and regulations relating to protection
of  the  environment  and  other  matters.  Many  agencies have the authority to
require  the  Company  to  cease or curtail operations due to noncompliance with
laws  administered  by  those agencies.  The operation of mining properties also
requires  a  variety  of  permits  from  government  agencies.

Management  believes that it has in place or will be able to obtain as necessary
all  of  the  required permits for the Company's planned operations.  Management
knows of no areas of noncompliance with laws or regulations which could close or
curtail  operations.

The  Company's  properties consist of unpatented Federal mining claims and State
mining  claims.  Titles  to  unpatented  claims  are  subject  to  inherent
uncertainties,  such  as whether there has been a discovery of valuable minerals
on  each  claim  and  whether proper locating and filing prerequisites have been
met.  Title  can  only  be  maintained  by  the  performance  of adequate annual
assessment  work  and  /  or  the  payment of prescribed rental fees.  While the
Company  believes  that  all  claims  which it holds were properly located under
applicable law, no assurances can be given in that regard.  To date, the Company
believes that it has conducted and recorded all annual assessment work necessary
to  maintain the claims in good standing.  Changes to U.S. mining laws currently
under  consideration  would,  if  enacted,  substantially  affect all holders of
unpatented Federal mining claims by imposing royalty fees on removal of minerals
and  fundamentally  changing  the rights and status of unpatented claim holders.
Although  management  believes  that the imposition of royalty fees as described
above,  at  a  minimal  level,  would  not have a material adverse effect on the
Company, it is impossible to predict the extent to which mining or environmental
legislation may be enacted or amended nor the effect that such legislation could
have  on  the  Company.

(D)     FINANCIAL  INFORMATION  ABOUT  GEOGRAPHIC  AREAS

The  following  table sets forth selected financial data for each of Silverado's
fiscal  years  ended  November 30, 2000, 1999 and 1998, by country of origin for
information  purposes  only.

<TABLE>
<CAPTION>


                               YEAR ENDED NOVEMBER 30,
                             2000          1999          1998


<S>                 <C>           <C>           <C>
Loss for the year
     Canada. . . .  $  (404,271)  $  (256,641)  $ (1,469,472)
     United States   (1,467,845)   (1,192,750)   (15,469,431)
                  -------------------------------------------
                    $(1,872,116)  $(1,449,391)  $(16,938,903)
                    ------------  ------------  -------------

END OF PERIOD

Long-lived assets
     Canada. . . .  $   120,224   $   183,927   $    212,492
     United States    2,180,865     2,484,559      3,212,410
                    ------------  ----------    -------------
                    $ 2,301,089   $ 2,668,486   $  3,424,902
                    ------------  ------------  -------------

</TABLE>

<PAGE>

For  each  of the three years ended November 30, 2000, 1999 and 1998, there have
been no transfers between geographic segments, nor have there been export sales.
Revenue for each of the three years is from sales of gold inventory derived from
the  Nolan  Gold  Project.


ITEM  2          PROPERTIES

(A)  REGISTRANT'S  INTEREST

Silverado  holds  interests  in mineral properties in the State of Alaska.   The
Company  has  conducted sufficient exploration and development work to delineate
111,298  ounces  proven  and  329,616  probable  ore  reserves.


(B)     GENERAL  CHARACTER  AND  TECHNICAL  DESCRIPTION  OF  EACH
        PROPERTY

(1)     NOLAN  GOLD  PROJECT

The  Nolan Project consists of five contiguous properties covering approximately
6  square  miles,  8  miles  west  of Wiseman, and 175 miles north of Fairbanks,
Alaska.  These  properties  are  as  follows:

(A)     NOLAN  PLACER:

This  property  consists  of  160  unpatented  Federal  placer  claims.

(B)     THOMPSON'S  PUP:

This  property consists of 6 unpatented Federal placer claims, and is subject to
a  royalty  of  3  percent  of  net  profits  on  80%  of  production.

(C)     DIONNE  (MARY'S  BENCH):

This  property,  consisting  of  15  unpatented  Federal  placer  claims  and
miscellaneous  mining  equipment,  was  purchased in 1993 for $1,000,000 payable
over  five  years.  Payments  were  completed  in  1997.

(D)     SMITH  CREEK:

This  property,  consisting  of  35  unpatented  Federal  placer  claims  and
miscellaneous  mining equipment, was purchased in 1993 for $200,000 payable over
five  years  with payments originally scheduled to be completed in 1998.   As at
November 30, 2000 $120,000 (1999: $120,000) in acquisition costs are in arrears.

(E)     NOLAN  LODE:

This  property  consists  of 32 unpatented Federal lode claims.  The lode claims
overlie  much  of  the  placer  properties  and  extend  beyond  them.

<PAGE>


(2)     HAMMOND  PROPERTY

The Hammond Property, consisting of 28 Federal placer claims and 36 Federal lode
claims  covering  one  and one-half square miles, was acquired by the Company in
December 1994.  The Company completed a drilling program in 1995 that identified
placer  gold deposits similar to those on the adjoining Nolan Gold Project.  The
lode  claims  also  extended  the  area of interest for exploration for the lode
sources  of  the placer gold.  As at November 30, 2000, $240,000 (1999 $160,000)
in option payments are in arrears.  The company's rights to this property may be
adversely  affected  as a result of the payments in arrears.  The property has a
carrying  value  of  $85,000.

(3)     MARSHALL  DOME  PROPERTY

The  Marshall  Dome  Gold Project, consists of 38 State claims, 35 of which were
acquired  by  the  Company  in  1995 due to its proximity and similar geological
setting to Kinross Gold Corporation's "True North" gold property, immediately to
the southwest.  The remaining three adjacent claims were located and acquired by
the Company prior to 1995. The project covers an area of two and one-half square
miles,  and  is located eighteen miles northeast of Fairbanks and is on the same
geological  trend  as  the  "True North" gold deposit one mile to the southwest,
which  is  being  developed  by  Kinross  Gold  Corporation.

(4)     WHISKEY  GULCH  PROPERTY

This  property,  acquired by the Company in 1996, consists of four claims and is
one-half  mile  southwest  of  the  Marshall Dome Property and adjoins the "True
North" property. During 1999 the Whiskey Gulch Property was sold to a subsidiary
of  Kinross  Gold  Corporation  for a cash payment of $50,000 and a retained Net
Smelter  Return payable by Kinross to Silverado in respect to any gold recovered
from  the  property.  Kinross  is  to  pay  Silverado  on  the  following basis:


PRICE  OF  GOLD                            PRODUCTION  ROYALTY
---------------                            -------------------

$300.00  or  less              2.0%  of  Net  Smelter  Returns

$300.01  to  $350.00           3.0%  of  Net  Smelter  Returns

$350.01  to  $400.00           3.5%  of  Net  Smelter  Returns

$400.01  and  above            4.0%  of  Net  Smelter  Returns

"Price  of  Gold"  is  equal to the average, for a particular year for which Net
Smelter  Returns  are  being  calculated,  of  the  daily  London Bullion Market
Association  P.M. Gold Fixing, as established from time to time during the year.

<PAGE>


(5)     ESTER  DOME  GOLD  PROJECT

The  Ester  Dome  Project  encompasses all of Silverado's optioned properties on
Ester Dome, which is accessible by road 10 miles northwest of Fairbanks, Alaska.
The  specific  properties  at  this  site  are  as  follows:



(a)     GRANT  MINE:

This  property consists of 26 state mineral claims subject to payments of 15% of
net  profits  until  $2,000,000  has been paid and 3% of net profits thereafter.

(b)     MAY  (ST.  PAUL)  /  BARELKA:

This  gold  property  consists of 22 State mineral claims subject to payments of
15%  of net profits until $2,000,000 (inflation indexed from 1979) has been paid
and  3%  of  net  profits  thereafter.

(C)     DOBB'S:

This  property  consists  of  1  unpatented  Federal  mineral claims and 4 State
mineral  claims  subject  to payments of 15% of net profits until $1,500,000 has
been  paid  and  3%  of  the  net  profits  thereafter.

(d)     RANGE  MINERALS  #1:

This  property  consisted  of  6  State mineral claims.  During 1999 the Company
relinquished  its  interest  in  this  property.

(e)     RANGE  MINERALS  #2:

This  property  consists  of  419  State  mineral  claims and one Federal claim.
During  1999  the  Company  relinquished  its  interest  in  this  property.

(6)     EAGLE  CREEK

On  August  4,  1989,  Silverado  assigned  its  Eagle  Creek Property to Can-Ex
Resources (U.S.), Inc. ("Can-Ex") for a 15% net profits interest to a maximum of
$5,000,000.  On  February  19,  1997,  Can-Ex  was dissolved and the Eagle Creek
property  became the property of its parent corporation, Kintana Resources Ltd.,
a  company  controlled  by  Garry  Anselmo who is President, Chairman, CEO and a
Director  of  Silverado.  The Company's royalty interest in the property remains
unaffected  by  this  event.  There  has  been  no  development  activity on the
property  during  the  year.

(7)  FRENCH  PEAK  PROPERTY

The  French Peak property consists of four mineral claims totaling approximately
one  square  mile,  located  40  miles  northwest of Smithers, British Columbia.
During  1999,  the  Company  relinquished  its  interest  in  this  property.

<PAGE>


(C)     GLOSSARY  OF  TECHNICAL  TERMS

DEVELOPMENT.  The  process  following  exploration, whereby a mineral deposit is
further  evaluated  and  prepared  for  production.  This  generally  involves
significant  drilling  and  may  include  underground  work.

DRILLING.  The  process  of  boring  a  hole  in the rock to obtain a sample for
determination of metal content.  "Diamond Drilling" involves the use of a hollow
bit  with diamonds on the cutting surface to recover a cylindrical core of rock.
"Reverse  Circulation Drilling" involves chips of rock being forced back through
the  center  of  the  drill  pipe  using  air  or  water.

EXPLORATION.  The  process of using prospecting, geological mapping, geochemical
and  geophysical  surveys,  drilling,  sampling  and  other  means to detect and
perform  initial  evaluations  of  mineral  deposits.

FEDERAL  LODE  CLAIMS,  FEDERAL  PLACER  CLAIMS.  Mineral claims up to 20 acres,
located  on  federal  land  under  the  U.S.  Mining Law of 1872.  See below for
definitions  of  "Lode"  and  "Placer".

GEOCHEMICAL SURVEY.  Sample of soil, rock, silt, water or vegetation analyzed to
detect the presence of valuable metals or other metals which may accompany them.
E.g.,  Arsenic  may  indicate  the  presence  of  gold.

GEOPHYSICAL  SURVEY.  Electrical,  magnetic  and  other  means  used  to  detect
features  which  may  be  associated  with  mineral  deposits.

GOLD  DEPOSIT.  A  concentration  of  gold  in rock sufficient to be of economic
interest.

LODE.  Mineral  in  place  in  the  host  rock,  as  in  "lode  gold".

LODE  SOURCE.  The  lode  mineral  deposit  from which placer minerals have been
derived  by  erosion.

MINERAL  CLAIMS.  General  term  used to describe the manner of land acquisition
under  which  the  right  to explore, develop and extract metals is established.

PLACER.  Mineral  which  has  been  separated  from  its  host  rock  by natural
processes and is often reconcentrated in streams as "placer deposits" or "placer
gold".

RESERVE.  That part of a mineral deposit which could be economically and legally
extracted  or  produced  at the time of the reserve determination.  Reserves are
customarily  stated  in terms of "ore" when dealing with metalliferous minerals.

STATE  CLAIMS.  Mineral claims up to 40 acres, located on State of Alaska lands.

<PAGE>

ITEM  3          LEGAL  PROCEEDINGS

A former employee of the Tri-Con Group has initiated a claim against the Tri-Con
Group and the Company for wrongful dismissal/breach of contract in the amount of
$150,000.  Subsequent  to  November 30, 2000, the claim was settled for $15,000.

Range Minerals Corporation has sued Silverado Gold Mines Ltd. and Silverado Gold
Mines Inc. for $185,665.  The lawsuit pertains to required payments covering the
Ester  Dome  Property.  Silverado  Gold Mines Ltd. and Silverado Gold Mines Inc.
have denied the claim of Range Minerals Corporation and have counter claimed for
the  return  of  50,000  shares  and  $88,000  previously paid to Range Minerals
Corporation, and such further additional relief as the court may deem to be just
and  equitable  under  the  circumstances.  The Company believes that the claims
made  by  Range Minerals Corporation are without merit and it will defend itself
against  the  claim.  As  the  outcome  of  this  action  and any loss resulting
therefrom  can not be determined, no provision for this litigation has been made
in  the  consolidated  financial  statements.


ITEM  4     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

No  matters  were submitted during the fourth quarter of the fiscal year covered
by this report to a vote of security holders through the solicitation of proxies
or  otherwise.


                                     PART II


ITEM 5     MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS


(A)     MARKET  INFORMATION

Silverado's  common  stock  trades  on  the  OTC Bulletin Board under the symbol
SLGLF.OB.  The  following  table  indicates  the  high and low bid prices of the
common  shares  during  the  periods  indicated:

<TABLE>
<CAPTION>



QUARTER ENDED  HIGH BID  LOW BID
<S>            <C>       <C>
Feb 28, 1999.       1/8     5/64
May 31, 1999.      3/16     7/64
Aug 31, 1999.     13/64     1/16
Nov 30 1999 .       1/8     1/16
Feb 28, 2000.    38/128     4/64
May 31, 2000.     61/64    11/64
Aug 31, 2000.     17/64      1/8
Nov 30 2000 .     13/64     3/32

</TABLE>

<PAGE>

(B)     HOLDERS  OF  COMMON  SHARES

As  at February 28, 2001 there were 23,610,868 registered holders of Silverado's
common  shares,  approximately  77%  of  whom were located in the United States.

(C)     DIVIDENDS

Silverado  Gold Mines Ltd. has not declared dividends on its common stock in the
two  most  recent  fiscal  years.

Silverado  is  restricted  in  its ability to pay dividends by limitations under
British Columbia law relating to the sufficiency of profits from which dividends
may  be paid. In addition, Silverado's Articles (the equivalent of the Bylaws of
a  United  States  corporation) provide that no dividend shall be paid otherwise
than  out of funds or assets properly available for the payment of dividends and
declaration  by the directors as to the amount of such funds or assets available
for  dividends  shall  be  conclusive.

The  Canadian  Income Tax Act (the "Tax Act") provides in subsection 212(2) that
dividends  and  other  distributions deemed to be dividends paid or deemed to be
paid by a Canadian resident company to a non-resident person shall be subject to
a  non-resident  withholding  tax  of  25  percent  on  the  gross amount of the
dividend.  Subject  to  certain  exceptions,  paragraph 212(1)(b) of the Tax Act
similarly  imposes  a 25 percent withholding tax on the gross amount of interest
paid  by  a  Canadian  resident  to  a  non-resident  person.

Subsection  115  (1)  and  Subsection  2  (3)  of  the  Tax  Act  provide that a
non-resident  person  is  subject  to  tax  at the rates generally applicable to
persons  resident  in  Canada  on  any  "Taxable  capital  gain"  arising on the
disposition  of  shares  of  a  corporation that is listed on a prescribed stock
exchange  (which  includes  OTC  bulletin  board)  if:

(i)     such  non-resident,  together with persons with whom he does not deal at
arm's  length,  has  held  25% or more of the outstanding shares of any class of
stock  of  the  corporation  at  any  time  during the five years preceding such
disposition;  or

(ii)     the  shares disposed of were used by such non-resident in carrying on a
business  in  Canada.

A  taxable  capital  gain  is  presently  equal  to  one-half  of a capital gain
(two-thirds  prior  to  October  15,  2000, three-quarters prior to February 27,
2000).

Provisions in the Tax Act relating to dividend and interest payments by Canadian
residents  to  persons  resident  in  the  United States are subject to the 1980
Canada - United States Income Tax Convention (the "1980 Convention").  Article X
of the 1980 Convention provides that the rate of non resident withholding tax on
dividends shall not exceed 5 percent  of the gross amount of the dividends where

<PAGE>

the  non-resident  person  who  is  the  beneficial  owner  of  the  shares is a
corporation  which  owns  at  least  10  percent  of  the  voting  stock  of the
corporation  paying  the  dividend.  In  other  cases,  the rate of non-resident
withholding  tax  shall  not  exceed  15  percent.

Article  XI  of  the  1980  Convention  provides  that  the rate of non-resident
withholding  tax  on interest shall not generally exceed 10 percent of the gross
amount  of  the  interest.

The reduced rates of non-resident withholding relating to dividends and interest
provided  by  the  1980  Convention  do  not  apply  if the recipient carries on
business  or  provides  independent  personal  services  through  a  permanent
establishment  situated  in  Canada,  and  the  shareholding  or  debt  claim is
effectively  connected  with  that  permanent  establishment.  In that case, the
dividends  and  interest  as  the  case  may be, are subject to tax at the rates
generally  applicable  to  persons  resident  in  Canada.

Article  XIII  of  the  1980 Convention provides that gains realized by a United
States resident on the sale of shares such as those of Silverado may be taxed in
both  Canada  and  the United States.  However, taxes paid in Canada by a United
States  resident  would, subject to certain limitations, be eligible for foreign
tax  credit  treatment  in  the United States, thereby minimizing the element of
double  taxation.

Except as described above, there are no government laws, decrees, regulations or
treaties  that  materially  restrict  the export or import of capital, including
foreign  exchange  controls,  or  which  impose  taxes,  including  withholding
provisions,  to  which  United  States  shareholders  are  subject.

ITEM  6          SELECTED  FINANCIAL  DATA

The  following  table sets forth selected financial data for each of Silverado's
fiscal  years  ended  November  30,  2000,  1999,  1998,  1997,  and  1996.

<TABLE>
<CAPTION>


                                               YEARS ENDED NOVEMBER 30,

                                     2000      1999      1998       1997      1996
                                   --------  --------  ---------  --------  --------
<S>                                <C>       <C>       <C>        <C>       <C>
                                             000's except per share amounts:

Revenues. . . . . . . . . . . . .  $    42   $   128   $     58   $   169   $   298

Loss for the Year . . . . . . . .  $(1,872)  $(1,449)  $(16,939)  $(4,413)  $(4,330)

Loss Per Share. . . . . . . . . .  $ (0.08)  $ (0.11)  $  (1.89)  $ (0.66)  $ (0.88)

END OF PERIOD

Assets. . . . . . . . . . . . . .  $ 2,326   $ 2,759   $  3,477   $18,231   $18,461

Long term Obligations . . . . . .  $    75   $    75   $      -   $ 2,010   $ 2,092

Total Liabilities . . . . . . . .  $ 3,806   $ 3,575   $  3,251   $ 2,689   $ 2,656
                                   --------  --------  ---------  --------  --------
</TABLE>

<PAGE>


ITEM  7          MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL
                 CONDITION  AND  RESULTS  OF  OPERATIONS


LIQUIDITY  AND  CAPITAL  RESOURCES

(a)     Liquidity

At November 30, 2000, the Company had a working capital deficiency of $3,706,831
(1999  -  $3,409,536;  1998  -  $3,223,756)  including  a $2,000,000 convertible
debenture  that  matured  on  July  2, 1999, and is in arrears.  To December 31,
2000,  the  Company  has  also  not  made  required  interest  payments  on  the
convertible  debenture  of  $400,000  (1999  -  $240,000;  1998 -$160,000).  The
Company  is  also  in arrears of required mineral claims and option payments for
certain  of  its  mineral  properties  at  November  30,  2000, in the amount of
$366,500  (1999 - $286,500; 1998 - $342,000) 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.

During  the  past  three  fiscal  years,  the Company has funded its exploration
activities  primarily  by  generating capital through private placements and the
exercise  of options and warrants.  The Company has supplemented these financing
activities  with  gold  sales.

During  the  year  ended November 30, 2000 the Company funded a net cash outflow
from  operating  activities  of  $1,187,343 primarily through option and warrant
exercises  totaling  $872,424  and  by  an  increase in the due to related party
balance  with  the  Tri-Con  Group.

The  Company intends to continue to finance its operations by generating capital
through  private  placements.  In  addition,  the  Company  is  working  towards
completing  a  joint  venture  or  partnership  for its low-rank coal-water fuel
technology.

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 and building, plant, and equipment 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 or achieved by the Company.  Failure
to obtain or achieve these items 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.  The  auditors'  report  on  the  Company's  consolidated  financial
statements  filed  herein  in  response to item 8 include additional comments by
auditor  on  Canada,  U.S  reporting  differences  that indicates that there are
conditions  and  events  that cast substantial doubt on the Company's ability to

<PAGE>

continue  as  a  going  concern.  The  consolidated  financial statements do not
include  any adjustments that might result from the outcome of that 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.  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.

(b)     Capital  Resources

The  Company has minimum aggregate future cash expenditures for work commitments
of  $50,000  in each of the next five years to maintain one of its properties in
good  standing.


RESULTS  OF  OPERATIONS
-----------------------


NOLAN  GOLD  PROJECT
--------------------

During  2000,  the  company  continued  mining on the Workmans Bench part of the
Smith  Creek  property.  The  company  recovered 173.2 troy ounces of gold.  The
company  also performed additional reclamation work on the Archibald part of the
Nolan  Placer  Property,  and  on the Swede Channel part of the Dionne property.

Operating  results


                                        2000              1999              1998
                                        ----              ----              ----
Revenue from gold sales          $      42,433     $     127,940     $    57,915
Operating Costs                        354,582           254,242         336,244
                                       -------           -------         -------
Loss before other expenses       $     312,149     $     126,302     $   278,329

The  Company  incurred  only limited gold sales in 2000.  The Company expects to
maintain  only  minimal  inventory  until  production  from its Nolan properties
resumes.

The  price  of  gold  has  an  impact  upon the Company's results of operations.

OTHER  EXPENSES
---------------

                                     2000           1999                   1998
                                     ----           ----                   ----
Other Expenses                  $ 1,559,967    $ 1,156,089     $      2,196,520
Write down of mineral properties          -        167,000           14,464,054
                                  ---------      ---------           ----------
                                $ 1,559,467    $ 1,323,089     $     16,660,574

YEAR  ENDED  NOVEMBER  30,  2000  COMPARED  TO  THE YEAR ENDED NOVEMBER 30, 1999

<PAGE>

Revenue  from gold sales decreased to $42,433 in 2000 from $127,940 in 1999 as a
result  of  reduced  gold production and gold inventory available for sale.  The
Company's  total gold recovered was 173 ounces in 2000 compared to 289 ounces in
1999.

Operating  costs  increased in 2000 to $354,582 from $254,242 in 1999 because of
increased  maintenance  efforts  on  the  mineral  properties.

Other  expenses  increased  to $1,559,967 from $1,323,089 in 1999 because of the
following  reasons:  (a) an increase in consulting expenses of $114,000 relating
primarily to consulting expenses incurred for investor relations activities; (b)
an  increase  in management services from a related party of $228,798 because of
an increase in activities of the Tri-Con Group with respect to the operations of
the  Company;  (c) an increase in printing and publicity expenditures of $81,542
relating  to  efforts  to  better inform potential investors with respect to the
operations  of  the  Company; (d) a decrease in receivable allowance of $153,561
because  for  the  current year, funds were not advanced to the Tri-Con Group in
advance  of  work  being  performed; (e) an increase in research expenditures of
$198,827  which  relate  to  research for the Company's low-rank coal water fuel
technology,  a  new  project  for  the  Company  in  2000; and (f) a decrease in
write-down  of  mineral  properties and development costs of $167,000 because no
properties  were  assessed  as  impaired  in  2000.

YEAR  ENDED  NOVEMBER  30,  1999  COMPARED  TO  THE YEAR ENDED NOVEMBER 30, 1998


During  the  year  ended November 30, 1999 the Company funded a net cash outflow
from  operating  activities  of  $555,394  primarily  through option and warrant
exercises  totaling $379,445 and by issuance of a $75,000 convertible debenture.

Revenue  from gold sales increased to $127,940 in 1999 from $57,915 in 1998 as a
result  of increased gold production and gold inventory for sale.  The Company's
share  of  total  gold  recovered  from the Swede Channel in 1999 was 289 ounces
compared  to  144  ounces  in  1998.

Operating  costs  decreased in 1999 to $254,242 from $336,244 in 1998 because of
an  increase  in an accrual for reclamation expense of $60,575 recorded in 1998.

Other  expenses  decreased  from  $16,660,574  in  1998 to $1,323,089 in 1999, a
decrease  of  $15,337,485.  The  primary  reason  for  this significant decrease
relates  to  a  write-down  of  mineral  properties  and  development  costs  of
$14,464,054  in  1998.  The  1998  write-down  relates  primarily  to  deferred
exploration  and  development  that was capitalized in prior years.  Exploration
costs  and  option  payments  are  expensed as incurred commencing in 1998.  The
receivable  allowance for funds advanced to the Tri-Con Group in advance of work
being  performed  also decreased in 1999 from $363,667 in 1998 to $153,561.  The
remaining decrease relates to reduced administrative expenditures as the Company
sought  to  attain  further  financing.


<PAGE>

ITEM  7A     QUANTITATIVE  AND  QUALITATIVE  DISCLOSURE  ABOUT  MARKET  RISK

None


ITEM  8          FINANCIAL  STATEMENTS  AND  SUPPLEMENTARY  DATA

The consolidated financial statements listed below were prepared on the basis of
accounting  principles generally accepted in the United States and are expressed
in U.S. dollars.  These principles conform, in all material respects, with those
generally  accepted  in  Canada.


Auditors'  Report                                                            F-1

Comments  by  Auditor  for  U.S.  Readers  on
Canada - U.S. Reporting Difference                                           F-1

Consolidated  Balance  Sheets,  November  30,  2000  and  1999               F-2

Consolidated  Statements  of  Operations
Years  Ended  November  30,  2000,  1999  and  1998                          F-3

Consolidated  Statements  of  Cash  Flows
 Years  Ended  November  30,  2000,  1999  and  1998                         F-4

Consolidated  Statements  of  Stockholders'  Equity
Years  Ended  November  30,  2000,  1999,  1998                              F-5

Notes  to  Consolidated  Financial  Statements                     F-6  to  F-21

No  schedules are presented either because the required information is disclosed
elsewhere  in  the  financial  statements,  or the schedules are not applicable.


ITEM  9     CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS ON ACCOUNTING AND
            FINANCIAL  DISCLOSURE

None

                                    PART III

ITEM  10.     DIRECTORS  AND  EXECUTIVE  OFFICERS  OF  THE  REGISTRANT.

<PAGE>

(A)  (B)     IDENTIFICATION  OF DIRECTORS AND EXECUTIVE OFFICERS.  The executive
officers  and  directors  of the Company are listed below.  The directors of the
Company  are  elected  to  hold  office  until  the  next  annual meeting of the
shareholders  and  until  their  respective  successors  have  been  elected and
qualified.  Executive  officers  of  the  Company  are  elected  by the Board of
Directors  and  hold  office  until  their successors are elected and qualified.

The  current  executive  officers  and  directors  of  the  Company  are:

Name                                     Age                            Position
-----                                    ---                            --------
Garry  L.  Anselmo  (1)                  57     Chairman of the Board  and Chief
                                                Operating Officer  since  May 4,
                                                       1973; President and Chief
                                                   Executive Officer from May 1,
                                                   1979  to  November  4,  1994,
                                               and from March 1,1997 to present.

James  F.  Dixon (1)(2)                  53       Director  since  May  6,  1988

Stuart  C.  McCulloch (1)(2)             65    Director since December 14,  1998

(1)   Members  of  Silverado's  Audit  Committee
(2)   Members  of  Silverado's  Compensation  Committee

(C)     SIGNIFICANT  EMPLOYEES.  Not  applicable  to  reporting  registrant.

(D)     FAMILY  RELATIONSHIPS.  There  are  no family relationships among any of
the  Company's  officers  and/or  directors.

(E)     BUSINESS  EXPERIENCE  OF  DIRECTORS  AND  EXECUTIVE  OFFICERS.

     Mr. Anselmo is presently the Chairman of the Board of Directors, President,
Chief  Executive  and  Chief  Financial  Officer of The Company.  He is also the
Chairman,  Chief  Executive  Officer  and  Chief Financial Officer of its wholly
owned subsidiary, Silverado Gold Mines Inc.  He resumed his duties as President,
Chief  Executive Officer, and Chief Financial Officer of the Company on March 1,
1997,  after  transferring  those  duties  to J.P. Tangen from November 1, 1994,
until  March  1, 1997.  Prior to the arrival of Mr. Tangen, he held those duties
from  May  of  1973.  Mr.  Anselmo founded Tri-Con Mining Ltd., a private mining
service  company,  in  1968,  and  is  currently  a  shareholder,  Director, and
President  of  Tri-Con.  He  is also Chairman and a Director of Tri-Con's United
States  operating  subsidiaries,  Tri-Con Mining Inc. and Tri-Con Mining Alaska,
Inc.

     Mr.  Dixon  is  a Director of the Company and its U.S. subsidiary Silverado
Gold  Mines  Inc.  Mr.  Dixon  holds  a Bachelor of Commerce Degree and has been
engaged  in the practice of law since 1973.  He is a lawyer and a partner in the
law  firm  of  Shandro  Dixon  Edgson,  Barristers and Solicitors, of Vancouver,
British  Columbia.

<PAGE>

     Mr.  McCulloch  is  a Director of the Company and its U.S. subsidiary.  Mr.
McCulloch  retired  as  District  Manager  from Canada Safeway in January, 1991.

(F)     INVOLVEMENT  IN  CERTAIN LEGAL PROCEEDINGS.  During the past five years,
no  director  or  executive  officer  of  the Company has been involved in legal
proceedings  of  the  nature  required  to  be  disclosed  by  this  Item.

(G)     PROMOTERS  AND CONTROL PERSONS.  Not applicable to reporting registrant.

COMPLIANCE  WITH  SECTION  16  OF  THE  SECURITIES  EXCHANGE ACT.  The Company's
executive  officers  and  directors  are  required  under Section 16 of the U.S.
Securities  Exchange  Act  of  1934  to file reports of ownership and changes in
ownership  with  the  U.S.  Securities and Exchange Commission.  Copies of those
reports  must also be furnished to the Company.  Based solely on a review of the
copies  of  reports furnished to the Company and written representations that no
other  reports  were  required, the Company believes that during the fiscal year
ended  November 30, 1999 each of its officers and directors timely complied with
all  filing  requirements.

ITEM  11.     EXECUTIVE  COMPENSATION.

<TABLE>
<CAPTION>

(A)  (B)     SUMMARY  COMPENSATION  TABLE

<S>                    <C>                     <C>   <C>          <C>         <C>         <C>                 <C>
Name and                                                                Securities Underlying
Principal Position. .  Year  $     Salary ($)   Bonus ($)   Other ($)   Options/SAR's (#)          All Other ($)
----------------------------------------------------------------------------------------------------------------

Garry L. Anselmo (1).  2000  Cdn   $         0  $        0  $        0                                  $0

Chairman, President,.  1999  Cdn   $         0  $        0  $  104,990        2,000,000                 $0

CEO & CFO . . . . . .  1998  Cdn   $         0  $        0  $        0                                  $0


<FN>


(1)     Mr.  Anselmo  is  employed  and compensated by Tri-Con Mining Ltd., which provides management and mining
exploration  and  development  services  to  the  Company.
</TABLE>


C)     OPTION  GRANTS  TABLE.  During  the  fiscal year ended November 30, 1999,
2,000,000  stock  options  were  granted  to  Garry  Anselmo:

<TABLE>
<CAPTION>



                   #Securities  Percent of Total
                   Underlying   Options Granted     Exercise                                         Grant Date
                   Unexercised  to Employees in   (Base) Price                                   Present Value $
Executive Officer    Options      Fiscal Year       ($/share)    Expiration Date                        (1)
-----------------  -----------  ----------------  -------------  ---------------                ------------------------
<S>                <C>          <C>               <C>            <C>              <C>  <C>    <C>               <C>

G.L. Anselmo       2,000,000          57%             $0.10      December 1, 2004                      $104,990

<FN>

(1)     The  grant  date fair value was estimated using the Black-Scholes Option Pricing Model.   The estimated weighted
average  fair  value of the options granted is prepared assuming a risk-free rate of 6.5%, an expected dividend yield of
0%,  an  expected  volatility  of  105%,  and  a  weighted  average  expected  life  of  5  years.
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

(D)     AGGREGATED  OPTION  EXERCISES  AND  FISCAL  YEAR  END  OPTION  VALUE  TABLE


                                                                 Number of Securities        Value of Unexercised
                Shares acquired                                 Underlying Unexercised       In-The-Money Options
Name              on Exercise           Value Realized       Options at November 30, 2000    at November 30, 2000
------------  --------------------  -----------------------  ----------------------------  -  -------------------
<S>           <C>                   <C>                      <C>                           <C>

G.L. Anselmo       2,000,000              $   39,110                     Nil                           Nil

</TABLE>


(E)  (F)     LONG-TERM  INCENTIVE  PLANS AND DEFINED BENEFIT PLANS.  The Company
does  not  have  any  long-term  incentive  plans,  pension  plans,  or  similar
compensatory  plans  for  its  Executive  Officers.

(G)     COMPENSATION  OF DIRECTORS.  Directors of the Company receive no fees on
an  annual  or  per  meeting  basis, but the Company has periodically granted to
directors  Options  to  purchase  Common  Shares.

(H)     EMPLOYMENT  CONTRACTS  AND  TERMINATION  AND  CHANGE  IN  CONTROL
        ARRANGEMENTS.  The Company has entered into compensation agreements with
the  three  directors  of  the  Company.  The  agreements  provide for severance
arrangements  where change of control of the Company occurs, as defined, and the
directors  are terminated.  The compensation payable to the directors aggregates
$4,200,000  (1999:  $4,200,000)  plus  the  amount  of  annual bonuses and other
benefits  that  they  would  have  received  in  the  eighteen  months following
termination.


ITEM  12.     SECURITY  OWNERSHIP  OF  CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

(A)  (B)     SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL OWNERS AND MANAGEMENT.

     The  following table sets forth information as of  February 28, 2001, as to
the  beneficial  ownership  of shares of the Company's only outstanding class of
securities,  its  Common Stock: by each person or group who, to the knowledge of
the  Company  at  that  date,  was  a  beneficial  owner  of  5%  or more of the
outstanding  shares of Common Stock; by all directors; by each executive officer
required to be named in the summary compensation table; and by all directors and
executive officers as a group.  The table does not include information regarding
shares  of  Common  Stock  held  in  the  names of certain depositories/clearing
agencies  as  nominee  for  various  brokers  and  individuals.

<PAGE>

<TABLE>
<CAPTION>


                                               AMOUNT AND NATURE         PERCENT OF
NAME/ADDRESS OF BENEFICIAL OWNER            OF BENEFICIAL OWNERSHIP  OUTSTANDING SHARES
------------------------------------------  -----------------------  ------------------
<S>                                         <C>                      <C>
Garry L. Anselmo (1) . . . . . . . . . . .                  350,007                 1.1
James F. Dixon (2) . . . . . . . . . . . .                  762,562                 2.5
Stuart C. McCulloch. . . . . . . . . . . .                  190,000                 0.6
All Directors and Executive Officers as a
group. . . . . . . . . . . . . . . . . . .                1,302,569                 4.3

<FN>

(1)     Includes  7  shares  owned  by Tri-Con Mining Ltd., of which Garry Anselmo owns
        100%.
(2)     Includes  directors  options  of  700,000  shares.
(3)     Includes  directors  options  of  150,000  shares.

</TABLE>


ITEM  13.     CERTAIN  RELATIONSHIPS  AND  RELATED  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,  and  Kintana  Resources  Ltd.,  a  company related by virtue of common
directors.

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  its  field  work  and  to provide administrative and management
services.   Under the current contract of January, 1997, work is charged at cost
plus  15%  for  operations  and  cost  plus 25% for exploration and development.
Costs  includes  a 15% charge for office overhead.  Services of the directors of
the  Tri-Con  Group are charged at a rate of Cdn. $75 per hour.  Services of the
directors  of  the  Tri-Con  Group who are also Directors of the Company are not
charged.  At  November  30,  2000, the Company had prepaid $nil (1999: $241,265;
1998:  $363,667)  to  the  Tri-Con  Group  for  exploration,  development  and
administration  services to be performed during the next fiscal period on behalf
of  the Company.  The amounts have been written-off in the respective years as a
receivable  allowance.

The aggregate amount paid to the Tri-Con Group, including amounts related to the
Grant  Mine  Project and Nolan Project, for the year ended November 30, 2000 was
$851,446,  (1999  -  $296,973;  1998  -  $1,674,388).

                                     PART IV

ITEM  14     EXHIBITS,  FINANCIAL  STATEMENT  SCHEDULES

(a)     FINANCIAL  STATEMENTS

(1)     The  following  financial  statements are included in part II, Item 8 to
this  report:

<PAGE>

Auditors'  Report

Comments  by  Auditor  for  U.S.  Readers  on Canada - U.S. Reporting Difference

Consolidated  Balance  Sheets  at  November  30,  2000  and  1999

Consolidated  Statements of Operations, years ended November 30, 2000, 1999, and
1998

Consolidated  Statements of Cash Flows, years ended November 30, 2000, 1999, and
1998

Consolidated  Statements of Stockholders' Equity, years ended November 30, 2000,
1999  and  1998

Notes  to  Consolidated  Financial  Statements

(2)     Financial  Statement  Schedules

     No  schedules  are  presented  either  because  the required information is
disclosed  elsewhere  in  the  financial  statements,  or  the schedules are not
applicable.

(3)     Exhibits  required  to  be  filed  are  listed  in  Item  14  (c  )

(b)     REPORTS  ON  FORM  8-K

     No  reports  on  Form  8-K were filed during the last quarter of the fiscal
year  ending  November  30,  2000.

(c)     EXHIBITS
        None.

<PAGE>

                                POWER OF ATTORNEY

KNOWN  ALL MEN BY THESE PRESENTS, that each person whose signature appears below
hereby  constitutes  and  appoints  G.L.  Anselmo  his  true  and  lawful
attorney-in-fact and agent, with full power of substitution and restitution, for
him and in his name, place and stead, in any and all capacities, to sign any and
all amendments to this annual report on Form 10-K, and to file the same with all
exhibits  thereto  and  any  other  documents  in connection therewith, with the
Securities  and  Exchange  Commission,  granting  unto said attorney-in-fact and
agent  full  power  and authority to do and perform each and every act and thing
requisite  and  necessary  to be done in and about the premises, as fully to all
intents  and  purposes  as  he might or could do in person, hereby ratifying and
confirming  all  that  said  attorney-in-fact  and  agent  or  his substitute or
substitutes,  may  lawfully  do  or  cause  to  be  done  by  virtue  hereof.

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has  been  signed below by the following persons on behalf of the Registrant and
in  the  capacities  on  the  dates  indicated.


/s/  James  F.  Dixon                         March  15,  2000
---------------------                         ----------------
James  F.  Dixon                                          Date
Director


/s/  Stuart  C.  McCulloch                    March  15,  2000
--------------------------                    ----------------
Stuart  C.  McCulloch                                     Date
Director

Pursuant  to  the requirements of Section 1 of 15(d) 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.


BY:     /s/  G.L.  Anselmo                    Date:     March  15,  2000
        ------------------
        G.L.  Anselmo,  President,  Chairman,
        C.E.O.