Allied Nevada Achieves Record Sales and Production

RENO, NV - Allied Nevada Gold Corp. reported fourth quarter and full year preliminary production and sales for 2013 and guidance for 2014. Preliminary fourth quarter and full year 2013 production and sales, as compared with the similar 2012 periods.

"Our record sales and production achieved in 2013 are a credit to the new operating team," commented Randy Buffington, President and CEO. "We have now grown our heap leach operations and the capabilities of our site management team to a level of competency that gives us the ability to focus on the next phase of the expansion, processing our sulfide material."

Buffington said, Record sales and production levels in both the fourth quarter of 2013 and the full year 2013 are the result of significantly increasing our mining rate during 2013 and starting-up our new Merrill-Crowe plant in October which allows us to process more solution. In the second half of 2013, we sold 113,173 ounces of gold, just shy of the total gold ounces sold for the full year in 2012 (114,705 ounces).

Gold and silver sales in 2014 are expected to increase to approximately 230,000 to 250,000 ounces of gold and 1.7 million to 2.0 million ounces of silver. Allied expects to mine 34.4 million tons of ore at average grades of 0.014 ounce per ton ("opt") gold and 0.35 opt silver. Approximately 10.6 million tons of the higher grade ore are expected to be crushed before being placed on the leach pads. In addition, the company plans on mining 52.8 million tons of waste and 4.8 million tons of mill ore, which will be placed in the stockpiles. Adjusted cash costs for 2014 are expected to be in the range of $825 to $850 per ounce.

Capital expenditures in 2014 are expected to decrease significantly. Non-expansion capital expenditures are expected be less than $15 million in 2014. Exploration spending in 2014 is expected to be approximately $2.9 million, primarily for land holding payments and modest drilling to replace heap leach reserves.