Nevado Resources Corporation

Nevado Resources Corporation

June 19, 2012 07:00 ET

NEVADO Reports the Results of its Annual Shareholders' Meeting

MONTREAL, QUEBEC--(Marketwire - June 19, 2012) - NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) ("NEVADO" or the "Company") is pleased to report on the results of its annual and special meeting of shareholders held on June 18, 2012, in Montreal, Quebec.

At the meeting, the shareholders of the Company voted in favour of all the resolutions set out in the management proxy circular, including re-election of the Company's Board of directors, consisting of Michael Curtis, André Bergeron, Marcel Bergeron, Rick Bonner, Philippe Frère and Louis Péloquin.

Michael Curtis, President and Chief Executive Officer of NEVADO, also reviewed the Company's many achievements of the past year at the meeting, which include:

  • Intensive exploration, with $7.3 million spent on NEVADO's properties;
  • A 22,000-metre drilling program on the La Blache property, which outlined an inferred mineral resource of 101.7 million tonnes grading 0.33% V2O5, 18% TiO2 and 59.7% Fe2O3 (or 41.8% FeT), at a cutoff grade of 5.1% TiO2 equivalent;
  • Phase 1 (preliminary) and Phase 2 (mini-plant) metallurgical testing on the La Blache ore, which in both cases resulted in the recovery of high-purity vanadium, titanium and iron;
  • Discovery of significant graphite potential at the Fermont project (Fermont claims block), located near Focus Graphite's Knife Lake deposit; and
  • A geophysical survey and prospecting program at the Fermont project, which generated promising iron results (Fire Lake North and South claims blocks).

Mr. Curtis noted that: "We made major progress over the past year. We outlined a world-class resource at the La Blache project, which has encouraged us to move ahead with project development with a view to putting the deposit into production. As we have already stated, we hope to start a preliminary economic assessment (PEA) in the third quarter and do pilot plant testing of the La Blache material, which will provide us with the information we need for a feasibility study."

"For the Fermont project, we will continue exploring the property this summer to assess its graphite potential. Thanks to its favourable location next to Focus Graphite's Knife Lake deposit, this project could also become a key asset for the Company. Finally, despite the challenging market, the Company is in a strong financial position, with over $3 million in cash," Mr. Curtis concluded.

About Nevado Resources Corporation

NEVADO is a Canadian junior resource company trading under the symbols VDO on the TSX Venture Exchange and NSV on the Frankfurt Stock Exchange. NEVADO owns 2,318 mineral claims or the equivalent of 1,227 km2 in the Baie-Comeau, Fermont and Eastern Townships regions of Quebec. The Company is currently focused on advancing the La Blache vanadium-titanium-iron project in the Baie-Comeau region towards National Instrument 43-101 mineral resources and development.

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.

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