Nevado Assays 63.5% Iron, 17.4% Titanium and 0.11% Vanadium in Surface Grab Samples at the Leduc Occurrence from the La Blache P

NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or
"NEVADO") is pleased to announce additional Iron, Titanium and Vanadium assay
results from the recently discovered massive magnetite-ilmenite Leduc Occurrence
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") (refer to the NEVADO news release dated November 10, 2010). 


The Leduc Occurrence (at Km 18, moving clockwise along the 45 kilometre ellipse)
is located 7 km southwest of the Hervieux-East Extension Occurrence, and is
defined by a series of metric-sized and angular magnetite-ilmenite boulders on
top of bedrock of the same covering 100 m(2). Average assay results from the
four (4) grab samples taken are 63.5% Iron (expressed as Iron Oxide or Fe2O3),
17.4% Titanium (TiO2) and 0.11% Vanadium (V2O5). Individual assay results in
Iron, Titanium and Vanadium are as follows: 




                  ----------------------------------------
                  GRAB               %         %         %
                  SAMPLE #       Fe2O3      TiO2      V2O5
                  701169          63.7      17.6      0.12
                  701170          62.2      17.3      0.09
                  701172          62.0      16.7      0.13
                  701173          66.2      17.9      0.09
                  AVERAGE         63.5      17.4      0.11
                  ----------------------------------------



Note: Surface grab samples averaging 1 kg each were taken by Company qualified
personnel under the supervision of Jean Lafleur, M.Sc., P. Geo., the La Blache
Property Project Manager. Samples were bagged, sealed and numbered on-site, and
delivered to the ALS Laboratory Group facility in Val-d'Or (Quebec) for analysis
using the ME-S81d Method. At the laboratory facility, samples were inventoried,
weighed and dried; crushed 70% to under 2 millimetres; riffled split with a 250
gram sub-sample pulverized 85% to under 75 microns; then followed by analysis. 


Again, the grades of the magnetite-ilmenite surface channel and grab samples are
comparable to the previous channel and surface channel grab samples taken
earlier from the initial Hervieux East Extension where 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, October
28, and November 16, 2010). 


The La Blache Ring of Iron-Titanium-Vanadium

A total of seven (7) new massive magnetite-ilmenite lenses were discovered
during the 2010 regional reconnaissance program on the Property by inferring
that the known Hervieux East, Hervieux-East Extension, Hervieux West and Schmoo
Lake magnetite-ilmenite occurrences bearing iron, titanium and vanadium 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. Assay results have
now been received on five (5) lenses, with assays pending from the
Farrell-Taylor Occurrence and the Lac La Bache West Occurrence. 


The new lenses with complete assay results are: 



1.  Two surface grab samples were taken from the Hervieux East Extension
    Occurrence (at Km 0) and yielded 67.6% and 64.3% Fe2O3, 21.4% and 17.6%
    TiO2, and 0.14% and 0.07% V2O5. The samples were taken 80 metres north
    of the original 125 long outcrop. The grades were comparable to the
    previous channel and surface channel grab samples taken earlier in the
    year from Hervieux East Extension where samples yielded up to 12.0
    metres of 62.8% Fe2O3 and 19.6% TiO2, and 7.0 metres 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). Hervieux-East
    Extension now stretches over 200 metres, from the original 125 metres,
    over a minimum width of 35 metres, and remains open on all sides. 

2.  A third surface grab sample was taken 1 kilometre north of the Hervieux
    East Extension and assayed 61.95% Fe2O3, 16.7% TiO2 and 0.17% V2O5, and
    constituted the newly discovered Hervieux North Extension Occurrence.
    The magnetite-ilmenite zone is situated at the base of a 30 metre cliff
    of magnetite-ilmenite bearing anorthosite. 

3.  The Leduc-Farrell Occurrence (at Km 21) is located 9 km southwest of the
    Hervieux-East Extension Occurrence, and is a minimum 100 m in length by
    10 m wide. The entire length of the occurrence was sampled with 25 (25
    cm by 10 cm by 10 cm deep) saw-cut surface channel samples of magnetite-
    ilmenite. Average assay results are 60.0% Iron (expressed as Iron Oxide
    or Fe2O3), 19.6% Titanium (TiO2) and 0.07% Vanadium (V2O5). 

4.  The E. Girard Occurrence (at Km 27) is located 13 km southeast of
    Hervieux-East Extension extends for at least 450 metres, and is fully
    accessible via logging roads. Here the massive magnetite-ilmenite occurs
    as a single 1 m to 5 m lens with sharp contacts, suggesting an intrusive
    contact. Some twenty-one (21) channel samples were taken at regular
    intervals along the 450 metres strike length of the occurrence. Average
    assay results are 61.9% Iron (expressed as Iron Oxide or Fe2O3), 16.5%
    Titanium (TiO2) and 0.11% Vanadium (V2O5).  



La Blache Property Diamond Drilling Program

NEVADO has mobilized its technical crew to the Property in anticipation of the
upcoming minimum 3,500 m diamond drill program. NEVADO has received permission
from the Ministere des Ressources naturelles et de la Faune for the drill
campaign. NEVADO plans to outline the full-size and grade potential of the
magnetite-ilmenite lenses with the ultimate goal of eventually proving up
significant near-term bulk iron, titanium, vanadium mineral resources across the
Property. NEVADO is fully funded for the work having raised $2.25 million in
late 2009. 


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.