Nevado Completes $4,413,790 Oversubscribed Financing Lead by Aberdeen Gould Capital Markets Ltd.

NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or
"NEVADO") is pleased to announce that it has completed its previously-announced
private placement, with a second tranche of a gross proceeds of $673,600, which
means an oversubscribed offering totalling an aggregate gross proceeds of
$4,413,790 in Non Flow-Through, Flow-Through and Super Flow-Through Units sold. 


The units sold within the second tranche are represented by 717,000 Non
Flow-Through, 465,000 Flow-Through and 845,000 in Super Flow-Through units.
Accordingly, the aggregate units sold are represented by 6,663,832 Non
Flow-Through, 5,095,327 Flow-Through and 1,803,642 in Super Flow-Through units.


Non Flow-Through Units, at a subscription price of $0.30 per unit, will consist
of one (1) common share (the "Common Share") and one (1) common share purchase
warrant ("NFT Warrant") (collectively, the Common Shares and NFT Warrants are
known as the "Non Flow-Through Units"). Each NFT Warrant will enable the holder
thereof to subscribe for one (1) Non-flow-through Common Share at $0.45 any time
until the date that is twenty four (24) months from the Closing Date (the
"Expiry Date"). Any NFT Warrants not exercised prior to 5:00 p.m. (Eastern
Standard Time) on the Expiry Date will be cancelled and be of no force or
effect.


Flow-Through Units, at a subscription price of $0.35, will consist of one (1)
common share ("Common Share") on a Flow-Through basis and one-half (1/2) of a
common share purchase warrant ("FT Warrant") (collectively, the Common Shares
and FT Warrants are known as the "Flow-Through Units"). Each whole FT Warrant
will enable the holder thereof to subscribe for one (1) Non-flow-through Common
Share at $0.50 any time until the date that is twenty four (24) months from the
Closing Date (the "Expiry Date"). Any FT Warrants not exercised prior to 5:00
p.m. (Eastern Standard Time) on the Expiry Date will be cancelled and be of no
force or effect. 


Super Flow-Through Units, at a subscription price of $0.35 per unit, will
consist of one (1) common share ("Common Share"), on which 0.8 Flow-Through
share and 0.2 Non Flow-Through share, and one-half (1/2) of a common share
purchase warrant ("SFT Warrant") (collectively, the Common Shares and SFT
Warrants are known as the "Super Flow-Through Units"). Each whole SFT Warrant
will enable the holder thereof to subscribe for one (1) Non-flow-through Common
Share at $0.50 any time until the date that is twenty four (24) months from the
Closing Date (the "Expiry Date"). Any SFT Warrants not exercised prior to 5:00
p.m. (Eastern Standard Time) on the Expiry Date will be cancelled and be of no
force or effect. 


The new maximum allocation dollar amounts for the offering are the following:
$2,000,000 in Non Flow-Through Units and $2,415,000 in Flow-Through Units or
Super Flow-Through Units.


The Company shall pay on the closing date, principally to Aberdeen Gould Capital
Markets Ltd., an arm's length party, a cash fee equal to 8% of the gross
proceeds raised pursuant to the Offering in respect of Units issued and sold.
The Company shall also issue, principally to Aberdeen Gould Capital Markets
Ltd., on the closing date finder warrant units (the "Compensation Units") equal
to 8% of number of Units issued and sold, at the same purchase price and terms
of the Units.


Nevado plans to use the net proceeds from the private placement to quickly
advance higher grade iron property to the drilling stage for near term potential
compliant Mineral Resources delineation and for working capital and general
purpose. 


About Aberdeen Gould Capital Markets Ltd.

Aberdeen Gould Capital Markets Ltd., is an independent financial investment firm
that offers Investment Banking, Corporate Advisory and Equity Capital Markets
services to small and mid-market companies. They focus on private and public
companies in the Manufacturing, Resource, and Technology sectors. The firm is
registered in the Canadian Provinces of Alberta, British Columbia, Ontario,
Saskatchewan and Quebec as an Exempt Market Dealer. Their web page is
www.aberdeengould.com. 


About Nevado Resources Corporation

Nevado Resources Corporation is a mineral exploration company listed under the
symbol VDO on the TSX Venture Exchange and under the symbol NSV on the Frankfurt
Exchange. Nevado owns 6 properties comprising 1,390 mining claims totalling 757
km2 in the Province of Quebec in two separate metallogenic environments, one in
high grade iron-titanium-vanadium and one in gold.


NEVADO's higher grade Iron-Titanium-Vanadium (magnetite-ilmenite) property
comprises 2 claim blocks totalling 773 claims for 315 km2 situated in the La
Blache Anorthositic Complex, located 145 km north of the city of Baie-Comeau and
its port on the St. Lawrence Seaway. In 2011, NEVADO plans to quickly advance
the property to the drilling stage for NI 43-101 compliant mineral resource
delineation. 


NEVADO's gold assets comprise 5 properties totalling 442 km2 located 10 km south
and southeast of Thetford Mines (Eastern Townships, Quebec), approximately 150
km east of Montreal. 


Please visit our website at www.nevado.ca.