VDO Nevado Resources Corporation (delisted)

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.

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. 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.

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