NEVADO Reports Assay Results from La Blache Iron-Titanium-Vanadium Property

NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO) (FRANKFURT:NSV) has announce Iron, Titanium and Vanadium assay results from recently discovered massive magnetite-ilmenite at the Hervieux East Extension and newly discovered Hervieux North Extension Occurrences found during the 2010 exploration program on the Company's wholly-owned 646 claims / 355 km2 La Blache Iron-Titanium-Vanadium Property (refer to the NEVADO news release dated November 10, 2010).

Hervieux East Extension Occurrence

The two surface grab samples (#701100 and #701101) from the Hervieux East Extension Occurrence were taken 80 metres north of the original 125 long outcrop. The grades are 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.

Hervieux North Occurrence

The third surface grab sample (#701102) was taken 1 kilometre north of the Hervieux East Extension and assayed 61.95% Iron (as Iron Oxide or Fe₂O₃) and 16.7% Titanium (as Titanium Oxide or TiO₂) and constitute the newly discovered Hervieux North Extension Occurrence.

Assays are still pending on the remaining 134 surface grab and channel samples taken from the four other new massive magnetite-ilmenite occurrences (Farrell-Taylor, Zorro, Leduc-Farrell and E. Girard Showings), including from one additional multi-kilometric, disseminated magnetite and ilmenite domain (Lac La Blache Showing), all located along what appears to be within a 200 m wide zone part of a 45 kilometres long corridor forming the perimeter of an 18 km by 10 km ellipse.

Airborne Geophysical (Magnetics and Electromagnetics) survey

NEVADO has also completed the 3,425 line-kilometres airborne geophysical survey which targeted (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, 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).

Upcoming Drill Campaign

NEVADO is now planning a minimum 3,500 m diamond drill program to start once all geophysical and geological data is synthesized and interpreted, and exploration permits have been received for the campaign, to outline the full-size and grade potential of these magnetite-ilmenite lenses with the ultimate objective of eventually proving up significant near-term iron-titanium mineral resources across the Properties. 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