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Allied Nevada Gold Reports Recent Drilling Results from Hasbrouck Mountain Property

Allied Nevada Gold Corp. (TSX:ANV)(NYSE Amex:ANV) has provided the results of recent drilling at its wholly owned Hasbrouck Mountain property, located 5 miles south of Tonopah, Nevada.

Highlights from this drilling include 75 meters grading 1.53 g/t AuEq (1.05 g/t Au(2) and 27.4 g/t Ag), 50 meters grading 2.2 g/t AuEq (2.03 g/t Au and 9.7 g/t Ag) and 55 meters grading 1.03 g/t AuEq (0.69 g/t Au and 19.7 g/t Ag).

"We recommenced drilling at Hasbrouck in September following the encouraging results of the first phase of drilling in early 2010. We now have two core drills on site with a goal of completing a year end resource calculation, expected to be issued in February of 2011," commented Dave Flint, Vice President, Exploration for Allied Nevada. "Management is working to drive Hasbrouck forward with a preliminary economic assessment in early 2011 as we continue to advance properties in our project pipeline."

The Company began drilling on Hasbrouck in early 2010 with a three core hole program. As a result of the successful outcome of that initial program, the Company commenced a 14-hole exploration campaign with a goal of confirming historical drill results, providing additional data for a resource update and ongoing metallurgical studies. To date, 8 holes of this planned 14-hole phase have been completed totaling 1,375 meters of drilling. Assays from four holes are pending. The highlighted intervals in the holes noted above exceed average gold and silver grades of the current resource and hole HSB10-011 ended in mineralization. Detailed mapping and systematic surface sampling have allowed the Company to reinterpret the controls to mineralization opening up opportunities for potential resource expansion. Initial step-out drilling appears to confirm the new interpretation.

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.

Hasbrouck mineralization was deposited by an epithermal hot-spring system and is accompanied by pervasive silicification, with associated adularia and pyrite. The property is located approximately 50 miles south of the Round Mountain open pit mine, a joint venture between Kinross Gold and Barrick Gold.

Allied Nevada maintains a strict quality control program at all of its projects. Drill samples are picked up on site and validated by Allied Nevada and Scott E. Wilson Consulting, Inc. 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 and silver determined using industry standard fire assay methods and gravimetric finish.

Mr. Scott E. Wilson, AIPG Certified Professional Geologist #10965, is Allied Nevada's Independent Qualified Person as defined under National Instrument 43-101. The technical information contained in this press release has been prepared under his supervision.

Source: Allied Nevada Gold Corp.

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