VDO Nevado Resources Corporation (delisted)

NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or
"NEVADO") announces that it has hired ABERDEEN GOULD CAPITAL MARKETS LTD. (the
"Finders") to be their exclusive lead financier for a non-brokered private
placement on commercially reasonable efforts to raise gross proceeds of
$3,600,000. The placement is expected to close on or about December 23, 2010.
The targeted allocation dollar amounts for the Offering are $1,500,000 in
Flow-Through, $600,000 in Super Flow-Through and $1,500,000 in Non Flow-Through
Units.


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. 


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. 


The Offering will be made in Canada to Accredited Investors (as defined under
National Instrument 45-106 - Prospectus and Registration Exemptions) or pursuant
to other applicable prospectus and registration exemptions, or to such other
qualified persons in such other jurisdictions (subject to compliance with all
applicable securities laws). 


Funds will be spent to advance the Company's higher grade Iron, Titanium and
Vanadium La Blache Property located just north of the port of Baie-Comeau
(Quebec) on the St. Lawrence Seaway, and also as general working capital.


The Company shall pay the Finders a cash fee equal to 8% of the gross proceeds
raised pursuant to the Offering in respect of Units issued and sold upon
Closing. The Company shall also issue Finder warrant units (the "Compensation
Units") equal to 8% of the number of Units issued and sold, which will be at the
same purchase price and terms as the Offered Securities at Close. 


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. 


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. 


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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