Updated Inferred Mineral Resource of 1.2 Million Ounces of Gold and 29.3 Million Ounces of Silver

RENO, NV - Allied Nevada Gold Corp. reported positive results of a Preliminary Economic Assessment ("PEA") prepared for its wholly owned Hasbrouck project, located near Tonopah, Nevada. The results of the PEA indicate that the proposed development of a heap leach operation to process both Hasbrouck and the nearby Three Hills mineral resources is expected to be economically robust with low execution risk.

The PEA was developed by Allied Nevada technical staff with contributions from a number of specialist consultants. All dollar amounts are in U.S. currency.

Hasbrouck would be mined and processed as a conventional open pit, heap leach operation. Mining equipment that is currently being replaced at Hycroft by a larger fleet is planned to be overhauled and transitioned to Hasbrouck including the semi-mobile crushers.

"These positive results are encouraging as Allied Nevada focuses on its organic growth strategy with a goal of transitioning from a single asset producer to a mid-tier multi-mine Company," commented Scott Caldwell, President and CEO. "With a positive PEA in place, we will move quickly to establish development plan for Hasbrouck and seek Board approval to move forward. We believe that Hasbrouck is in a prolific mining area with rich historic mining traits and will focus our efforts on improving the mine life of the project through exploration programs."

The company's address is 9790 Gateway Drive, Suite 200, Reno, NV 89521, (775) 358-4455, fax: (775) 358 4458, email: [email protected].