Drill Results At Hasbrouck Mountain Project

RENO, NV - Allied Nevada Gold Corp. reported assays results of the recently completed three core hole program for its Hasbrouck Mountain project located approximately five miles south of Tonopah, Nevada. Finalized assays for the previously released (14 May 2010) drill hole HSB10-001 resulted in an improved intercept of 120 meters grading 1.57 g/t Au and 36.71 g/t Ag (2.22 g/t AuEq) compared with the originally released intercept which did not include silver data. In addition, final assays for hole HSB10-002 and preliminary assays for hole HSB10-003 have been received. HSB10-002 intercepted 123 meters, starting from surface, grading 0.81 g/t Au and 19.25 g/t Ag (1.15 g/t AuEq) and HSB10-003 intercepted 108 meters grading 0.85 g/t Au and 20.14 g/t Ag (1.2 g/t AuEq). All three holes have encountered gold and silver mineralization which is higher grade than the average resource grade of 0.79 g/t Au and 10.97 g/t Ag.
These core holes have been drilled at a large diameter to provide samples for metallurgical testing. Historical column leach tests indicate that recoveries could be 54.1% for gold and 19.2% for silver at a crush size of 80% passing 3/8 inch and after 51 days of leaching.
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. 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 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 dated August 14, 2006, and filed on SEDAR.
Allied Nevada has implemented a two pronged approach to its exploration strategy with a clear focus on Hycroft. The Company intends to drill 100,000 meters in 2010 at Hycroft utilizing six rigs managed by a dedicated site exploration team. To maintain the focus necessary at Hycroft, a second exploration team has been assembled to manage the other drill programs. The goal for the 2010 outside exploration program is to utilize one drill and complete 5,000 meters of drilling at Hasbrouck, Contact and Wildcat. With the completion of this first phase of drilling at Hasbrouck, we will now begin drilling at Contact in early July, followed by Wildcat and then the second phase at Hasbrouck.
The company's address is 9790 Gateway Drive, Suite 200, Reno, NV 89521, (775) 358-4455, fax: (775) 358 4458, email: [email protected].