Nevado Resources Corporation

Nevado Resources Corporation

March 29, 2011 09:00 ET

Nevado Resources Corporation: Update Regarding the Fermont Transaction

MONTREAL, QUEBEC--(Marketwire - March 29, 2011) - NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Corporation" or "Nevado") – Nevado announces the end of the judicial proceedings related to its 928 mining claims in the Fermont region.

In recent weeks, Nevado has got the dismissal from the Superior Court of the Province of Québec of the motion for provisional injunction linked to the motion to annul the acquisition agreement of the Fermont properties.

Following this judgment of the Superior Court in favour of Nevado, the parties involved in the proceedings have agreed to end the judicial debate, without fees.

Nevado, as it has always pretended, is thus the sole owner of the 928 mining claims has full control of its properties in the Fermont region and intends to take all necessary steps to enhance their development potential.

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 7 properties comprising 2,318 mining claims totaling 1227 km2 in the Province of Quebec in three separate metallogenic environments, one in high grade iron-titanium-vanadium, one in copper-gold and a third one in iron.

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.

Nevado's iron ore and base metal property in the Fermont region, in Quebec, consists of 928 active mining claims, extending over 47 000 hectares (470 Km2) and is composed of 3 major blocs.

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.

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