Hasbrouck Phase II Drilling Provides Encouraging Results  

RENO, NV - Allied Nevada Gold Corp. reported the results of recent drilling at its wholly owned Hasbrouck property, located 5 miles south of Tonopah, Nevada. Highlights from this drilling include 30 meters grading 1.02 g/t AuEq (0.70 g/t Au2 and 18.5 g/t Ag) and 21 meters grading 1.20 g/t AuEq (0.95 g/t Au and 14.1 g/t Ag) and 11 meters grading 2.13 g/t AuEq (1.20 g/t Au and 52.7 g/t Ag). Holes HSB10 004 and HSB10 009 ended in mineralization.

We are very pleased with encouraging results of the 2010 drill program at Hasbrouck. The drill program has been successful in encountering significant mineralization including localized areas of higher than resource average grade mineralization,commented Dave Flint, Vice President, Exploration for Allied Nevada. We look forward to completing the model and resource update in the first quarter as we expect to see a positive impact from the 2010 program. The Company successfully completed the 2010 drill program, with a total of 2,202 meters drilled in 14 holes. With this news release, results for 12 holes of this program have now been released and assays for the pending two holes are expected soon. The 2010 drill program achieved the goal of confirming mineralization and providing material for ongoing metallurgical studies. The data collected during the 2010 drill program will be used to update the resource model and to prepare a revised resource estimate and preliminary economic assessment, both of which are expected to be completed in the first quarter of 2011. Mapping and systematic surface sampling in 2010 has allowed the Company to reinterpret the controls to mineralization, thereby creating opportunities for potential resource expansion. The Company intends to recommence the exploration program in January 2011, with an objective of drilling 10,000 meters utilizing two core rigs and two reverse circulation rigs. The main goals of the 2011 program are targeted at infill drilling to upgrade the inferred resources to the measured and indicated categories and expansion of the resource base. The Hasbrouck Mountain project is an advanced stage exploration project where, historically, 151 holes totaling 22,433 meters have been drilled on the property by various predecessors including Cordex and Newmont Mining Corporation. All historical drilling on the property was completed using conventional rotary and reverse circulation technology. The property hosts an indicated mineral resource of 18.4 million tonnes at an average grade of 0.79 g/t Au and 10.97 g/t Ag (0.98 g/t Au Eq) for 459,000 contained ounces of gold and 6.5 million contained ounces of silver, as reported in the NI 43-101 compliant technical report. The company's address is 9790 Gateway Drive, Suite 200, Reno, NV 89521, (775) 358-4455, fax: (775) 358-4458, email: [email protected].