Nevado Signs With Aberdeen Gould Capital Markets Ltd., for $3,600,000 Flow Through, Super Flow Through and Hard Dollar Financing

   NEVADO RESOURCES CORPORATION (TSX VENTURE: VDO)(FRANKFURT: NSV) (the "Company" or "NEVADO") announces that it has hired ABERDEEN GOULD CAPITAL MARKETS LTD. (the "Finders") to be their exclusive lead financier for a non-brokered private placement on commercially reasonable efforts to raise gross proceeds of $3,600,000. The placement is expected to close on or about December 23, 2010. The targeted allocation dollar amounts for the Offering are $1,500,000 in Flow-Through, $600,000 in Super Flow-Through and $1,500,000 in Non Flow-Through Units.

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.

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.

The Offering will be made in Canada to Accredited Investors (as defined under National Instrument 45-106 - Prospectus and Registration Exemptions) or pursuant to other applicable prospectus and registration exemptions, or to such other qualified persons in such other jurisdictions (subject to compliance with all applicable securities laws).

Funds will be spent to advance the Company's higher grade Iron, Titanium and Vanadium La Blache Property located just north of the port of Baie-Comeau (Quebec) on the St. Lawrence Seaway, and also as general working capital.

The Company shall pay the Finders a cash fee equal to 8% of the gross proceeds raised pursuant to the Offering in respect of Units issued and sold upon Closing. The Company shall also issue Finder warrant units (the "Compensation Units") equal to 8% of the number of Units issued and sold, which will be at the same purchase price and terms as the Offered Securities at Close.

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.

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.

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.

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.

Contacts: Nevado Resources Corporation Mr. Guy Girard President and CEO 514-798-1290 www.nevado.ca