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Allied Nevada Gold Announces Final Exploration Results from Hycroft Mine

Allied Nevada Gold Corp. (TSX:ANV)(NYSE Amex:ANV) has announced the final drill results from the 2010 exploration program at its wholly owned Hycroft mine located near Winnemucca, Nevada.

Highlights from the remaining holes include Vortex infill hole 3461 with an interval of 134 meters of grading 2.63 g/t AuEq (1.16 g/t Au and 78.83 g/t Ag) and North Brimstone infill hole 3440 with an interval of 18 meters of material grading 2.30 g/t AuEq (1.56 g/t Au and 34.17 g/t Ag). The North Brimstone interval appears to be oxide mineralization and the Vortex interval appears to be within the oxide/sulfide transitional zone and carries into the sulfide material.

The results of 20 step out holes drilled in the Central Pit area indicate continuity of the oxide mineralization to the west of the pit. The intervals are similar to and potentially extend the current oxide resource. Highlights include hole 4110 with a 31 meter interval grading 2.26 g/t AuEq (1.68 g/t Au and 33.00 g/t Ag) and hole 3555 with a 47 meter interval grading 0.76 g/t AuEq (0.67 g/t Au and 5.03 g/t Ag).

"I am very pleased with the results we've encountered throughout the 2010 exploration program and we expect to see a positive impact to the overall resource," commented David Flint, Vice President, Exploration. "We have carried out this program successfully and under budget. We exceeded our target of drilling 100,000 meters and believe we have achieved our 2010 exploration goals, including resource conversion and expansion, which will show in the updated resource estimate in February, 2011."

The Company drilled 396 holes in 2010, totaling 101,600 meters of drilling. For 2011, a 60,000 meter drill program has been designed to continue infill and engineering drilling in the first quarter in support of the milling feasibility study. This will be achieved utilizing a fleet of seven to ten core and reverse circulation rigs. For the remainder of 2011, a fleet of two to three rigs will directed toward step-out drilling and testing geophysical anomalies around the Hycroft property with a goal of expanding the resource base.

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 and silver determined using industry standard fire assay methods with an atomic absorption finish. Gold and silver over limits are determined using fire assay with a gravimetric finish.

Source: Allied Nevada Gold Corp.

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