Allied Nevada Discovers High-Grade Zone at Hasbrouck 

RENO, NV - Allied Nevada Gold Corp. reported highlights from the first quarter 2011 drill program at its wholly owned Hasbrouck Project, located five miles south of Tonopah, Nevada. During the first quarter, Allied Nevada discovered and confirmed a high-grade zone of gold and silver mineralization (the "Saddle Zone"). Discovery hole HSB11-019 returned an intercept of 160 meters grading 4.5 g/t Au and 83.3g/t Ag (7.1 g/t AuEq). A number of follow-up holes to this discovery hole confirmed the high-grade nature of the zone with highlighted intervals including 109 meters grading 4.8 g/t Au and 87.2 g/t Ag (7.4 g/t AuEq) and 93 meters grading 4.7 g/t Au and 83.3 g/t Ag (7.1 g/t AuEq). Visible gold is present in several drill holes as disseminated grains, in oxidized silica-sulfide veins, and localized on the margins of fragments within silicified breccias. The zone remains open along a northeast-southwest trend and at depth and step-out drilling is in progress to determine the extents of this zone.

Discovery of this high-grade zone of mineralization is the result of a reinterpretation of the geologic model, including detailed structural mapping. The highest grade mineralization occurs along structures and at structural intersections, with halos of multi-gram per ton gold surrounding the highest gold values. As a result, current drilling in and near the Saddle Zone is primarily angled and east-west oriented to be completed perpendicular to the local structures. This compares with historical drilling which was drilled by rotary and RC methods, and was primarily comprised of vertical holes with local north-south angled drilling. The drill results indicate the success of this program. Hole HSB11-025, drilled from same location as the discovery hole and trending northeast, ended with a one-meter interval of high-grade mineralization grading 18.2 g/t Au and 34 g/t Ag (19.2 g/t AuEq). While it is believed that this hole was drilled above the high-grade Saddle Zone, it included an interval of 40 meters grading 0.6 g/t Au and 18.3 g/t Ag (1.2 g/t AuEq). It is unclear if this hole intersected an extension of the Saddle Zone, or if another high grade zone exists. Based on a review of high-grade intercepts from historical and recent drilling, such as those of Hole HSB11-025, the Company believes that other similar zones may exist and targeting of other potential high-grade zones is underway. "We are excited to have discovered this high-grade zone and the potential it brings to Hasbrouck. We will continue to study the extent and setting of this high-grade mineralization and the potential for additional zones of a similar nature near surface and at depth on the property," commented Dave Flint, Vice President of Exploration for Allied Nevada. "We have realigned the 2011 drill program to target high-grade zones based on our new understanding of the structures and geology at Hasbrouck, which has been confirmed by recent drilling." The company's address is 9790 Gateway Drive, Suite 200, Reno, NV 89521, (775) 358-4455, fax: (775) 358 4458, email: [email protected].