Allied Nevada Retains 100% Ownership of Hasbrouck and Three Hills Properties

Allied Nevada Gold Corp. announces that Newmont Mining Corp. has notified the Company that it does not elect to enter into a joint venture agreement for the Hasbrouck and Three Hills properties, located near Tonochinese mobile stone crusher and screener fore salepah, Nevada.

Allied Nevada completed an initial three core‐hole program in June of this year with significant intercepts including:

• HSB10‐001 ‐ 120 meters grading 1.57 g/t Au1 and 36.71 g/t Ag1 (2.22 g/t AuEq1,2)


• HSB10‐002 ‐ 123 meters grading 0.81 g/t Au and 19.25 g/t Ag (1.15 g/t AuEq)


• HSB10‐003 ‐ 108 meters grading 0.85 g/t Au and 20.14 g/t Ag (1.2 g/t AuEq)

“We are excited about the potential at Hasbrouck and will be working towards providing an updated 43‐101 compliant resource following this second phase of the drill program,” commented Dave Flint, Vice President, Exploration for Allied Nevada. “We have a number of opportunities to explore in Nevada and Hasbrouck represents one of the nearer‐term projects we think could add value to the Company.”

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.

Allied Nevada will begin a 30‐hole exploration program at Hasbrouck in September 2010. The primary goals of this program are to upgrade and increase the current resource, test the depth of mineralization and provide further samples for metallurgical testing.

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 will retain 100% ownership in these properties, subject to a 2% net smelter return royalty to Newmont upon attaining commercial production. As per the agreement between Allied Nevada’s predecessor company, Vista Gold Corp., and Newmont Capital Limited, Newmont is entitled to receive US$500,000 upon commencement of commercial production and an additional US$500,000 if the gold price exceeds US$400 per ounce for any three calendar month period following commercial production.