NEVADO Discovers Four New Massive Magnetite-Ilmenite Occurrences During Regional Reconnaissance Program, One More Than 450 Metre

--  Assays pending from 137 surface grab and channel samples from the four
    new massive magnetite-ilmenite, including from an additional multi-
    kilometric, disseminated magnetite and ilmenite domain  

--  The previously announced airborne geophysical magnetic and
    electromagnetic survey nears completion 



NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or
"NEVADO") is pleased to announce the discovery of several new massive
magnetite-ilmenite occurrences and a strongly disseminated magnetite and
ilmenite domain found during the summer-fall 2010 exploration program on the
Company's wholly-owned 646 claims / 355 km(2) La Blache Iron-Titanium-Vanadium
Property (the "Property"). 


Four new massive magnetite-ilmenite lenses were discovered by inferring that the
known Hervieux East, Hervieux-East Extension, Hervieux West and Schmoo Lake
occurrences appears to be aligned within a 200 m wide zone. The zone is part of
a 45 km long corridor forming the perimeter of an 18 km by 10 km ellipse. The
new lenses are: 


Hervieux-East Extension Showing (at Km 0 on the ellipse) 

Lengthening to the northeast of NEVADO's Hervieux-East Extension Showing by 80
m; the occurrence now stretches for 200 m over a minimum width of 35 m;


Farrell-Taylor Showing (at Km 3, moving clockwise) 

Located 3 km East of Hervieux-East Extension; the occurrence is a minimum 25 m
long and 5 m wide;


Zorro Showing (at Km 18) 

Located 7 km southwest of Hervieux-East Extension; the occurrence is a series of
metric-sized and angular boulders on top of bedrock of the same covering 100
m(2).


Petit Lac or Leduc-Farrell Showing (at Km 21) 

Located 9 km southwest of Hervieux-East Extension; the occurrence is a minimum
100 m long by 10 m wide. 


E. Girard Showing (at Km 27) 

Located 13 km southeast of Hervieux-East Extension - the occurrence is fully
accessible via logging roads and extends for at least 450 m. Here the massive
magnetite-ilmenite occurs as a single 1 m to 5 m lens with sharp contacts. 


One additional occurrence, the La Blache Lake Showing was discovered and
consists of 5% to 25% mixed centimetric disseminated and vein-type magnetite and
ilmenite, with occasional "veins" of 50% magnetite-ilmenite, in anorthosite
covering a 4 km by 2 km segment of the ellipse between Km 9 and Km 13 on the
southwest shore of La Blache Lake. 


These new discoveries follow on the recent success of positive and significant
iron, titanium and vanadium assay results from the Hervieux-East Extension
Showing, where surface channel samples yielded up to 12.0 m of 62.8% Fe2O3 and
19.6% TiO2, and 7.0 m of 62.1% Fe2O3 and 20.0% m TiO2 as well as 32 channel
grabs that averaged 59.0% Fe2O3, 18.6% TiO2 and 0.11% V2O5 in a range of 51.1%
and 62.8% Fe2O3, 17.7% and 19.7% TiO2 and 0.05% and 0.16% V2O5 (refer to the
NEVADO news releases dated March 30, September 21 and October 28, 2010). 


NEVADO is just completing the 3,425 line-kilometres airborne geophysical survey
which not only targets (1) magnetic massive, decimetric magnetite-ilmenite
lenses), but also (2) magnetic and conductive semi-massive to massive sulphides
known to occur in more gabbroic rocks 30 km East of the Hervieux East Extension
the eastern portion of the property, similar to the Outardes-Three and -Four
occurrences, where historic work yielded up to 50% sulphides in breccias and
veins/veinlets carrying up to 0.94% Nickel and 0.36% Copper and 1.28% Nickel and
1.38% Copper in grab samples (Falconbridge,1998; MRNFQ Assessment File GM
56307). 


The magmatic iron-titanium bearing magnetite-ilmenite lenses are associated with
the La Blache Anorthositic Complex (the "LBAC") located 145 km north of
Baie-Comeau along Quebec's North Shore region, near Hydro-Quebec's Manic 3 and
Outardes River Hydroelectric Reservoirs. The LBAC extends 35 km in a
northeast-southwest direction by 15 km across, hosting a series of
magnetite-ilmenite rich lenses some 10's to 100's m in size along a 45 km long
mineralization corridor, of which Nevado owns outright 37 km of the total trend
length. 


According to the Ministere des ressources naturelles et de la faune Quebec
Deposit File 22K/04-0001 the La Blache iron-titanium mineralization was
originally discovered in 1952 and subsequently explored in the 1960's by the
Bersimis Mining Company which used airborne magnetic techniques to identify a
series of surface iron-titanium lenses over a 15 km trend covering several
occurrences. Historic work evaluated mineral resources of 71.67 million tonnes
grading 48% Fe2O3 and 20.5% TiO2. The historical mineral resources quoted is
non-compliant to NI 43-101 Mineral Resource standards, and should therefore not
be relied upon. A Qualified Person has not done sufficient work to classify the
historical resource as current NI 43-101 compliant Mineral Resources. There is
no guarantee that any future exploration would upgrade the historical Mineral
Resources into current Mineral Resources. At this time it is not known if any or
part of the historical mineral resources occurs on Nevado's Property. 


The technical information in this news release was prepared, reviewed and
approved by Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical Consultant to
NEVADO, and Bertrand Brassard, M. Sc., P. Geo, Director and VP Exploration of
NEVADO. Both individuals are Qualified Persons under NI 43-101 regulations. 


Neither the TSX Venture Exchange nor its regulation services provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release. The statements
made in this news release that are not historical facts are "forward-looking
statements" and readers are cautioned that any such statements are not
guarantees of future performance, and that actual developments or results, may
vary materially from those in these "forward-looking" statements.