Successful Second Half Drill Program At Hycroft 

RENO, NV - Allied Nevada Gold Corp. reported an update to the drilling completed in the second half of 2011 at its wholly owned Hycroft mine located near Winnemucca, Nevada.

Highlights of the recent drilling include 62 meters grading 1.13 g/t Au(2) and 33.2 g/t Ag(2) (1.7 g/t AuEq(1,2)) and 27 meters grading 0.79 g/t Au and 130.4 g/t Ag (3.1 g/t AuEq) of mill material. Heap leach material drilling highlights include 84 meters grading 0.90 g/t Au and 17.4 g/t Ag (1.2 g/t AuEq) and 41 meters grading 0.91 g/t Au and 24.0 g/t Ag (1.3 g/t AuEq).

The primary goals for the drill program in the second half of 2011 were directed towards collecting material for engineering support of the expansion projects, ongoing metallurgical optimization work and condemnation drilling. Secondarily, these holes will provide additional data to infill areas for the resource model. A resource update for Hycroft is expected to be released by the end of the first quarter of 2012 and will incorporate the majority of the holes drilled in 2011.

"We have successfully completed the drill program for 2011, as planned, and are very pleased with the results," commented Dave Flint, Vice President of Exploration. "We are on track to complete a revised block model for Hycroft, which will lead to an update to the reserve and resource estimate to be provided in the first quarter 2012."

The material gathered in the second half of 2011 is primarily being utilized for metallurgical optimization work for the mill process flowsheet, ore hardness testing and mill equipment sizing. Composites are being compiled based on domain and the period in which an area will be mined to provide a more accurate annual production profile for the first five years of mill operations. Bulk samples collected are being used to create large quantities of concentrate for additional optimization work and to provide samples for testing in offsite processing facilities. The Company continues to review other final process methods for the concentrate such as fine grind and leaching.

Allied Nevada maintains a strict quality control program at all of its projects. Drill samples are gathered on-site and validated by Allied Nevada geologists to be shipped to ALS Chemex's assaying laboratories in Reno, Nevada. Gold and silver analyses are conducted on 1-assay ton prepped samples with gold determined using industry standard fire assay methods with an atomic absorption finish. Gold over limits and silver are determined using fire assay with a gravimetric finish.