Nevado Venture Capital Corporation Completes Its Qualifying Transaction Including a Private Placement of $600,000

MONTREAL, QUEBEC--(Marketwire - Dec. 31, 2009) - Nevado Venture Capital Corporation (the "Corporation" or "Nevado") (TSX VENTURE:NVD.P) is proud to announce that, following the closing of its Qualifying Transaction on December 30, 2009, the TSX Venture Exchange (the "Exchange") has accepted the proposed Qualifying Transaction within its Filing Statement dated December 23, 2009 for the acquisition of five (5) properties comprising 764 mining claims in the Thetford Mines and Baie-Comeau regions and a private placement financing of $600,000.

At the opening on January 4, 2010, the common shares of Nevado will be listed on the Exchange under the ticker symbol "VDO".

Board of Directors

The current members of the Board of Directors, with the exception of Mr. Denis Hamel and Mr. Jacques Denis, will remain in place, namely Mr. Andre Bergeron, Mr. Philippe Frere and Mr. Pierre-Hubert Seguin.

Furthermore, the Corporation is proud to confirm new nominations for its management team and Board of Directors since the closing of its Qualifying Transaction:

- Guy Girard has joined the Board of Directors and is acting as Chief Executive Officer;

- Marcel Bergeron has joined the Corporation as Chief Financial Officer in replacement of Denis Hamel; and

- Bertrand Brassard has joined the Board of Directors of the Corporation.

Neither 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 release.