Nevado Resources Reports Assays Results from La Blache Property in Quebec

NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) has announced 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 km2 La Blache Iron-Titanium-Vanadium Property.

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 m². 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).

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:

• 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.
• 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.
• 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).
• 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 Ministère 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.

Source: NEVADO RESOURCES CORPORATION