Allied Nevada Gold Corp. will begin gold production in the fourth quarter of 2008

Allied Nevada Gold Corp. is pleased to announce that mining and leaching activities at the Company's Hycroft Mine have commenced. Ore is being loaded on existing pads, with new pad construction scheduled for completion in the third quarter of 2008. Construction of a new site refinery has begun and is scheduled for completion late in the third quarter. The project will begin gold production in the fourth quarter of 2008, achieving full production capacity in 2009.

The Hycroft reactivation project near Winnemucca, Nevada, involves reopening the Brimstone oxide open pit mine which has been on care and maintenance since 1998. The plan will involve the mining and processing of ore with the heap leach extraction process. Gold and silver will be produced by utilizing a "run of mine" heap leach process and a Merrill Crowe gold recovery plant. Based upon historic gold recovery of Brimstone ores, gold recovery is estimated to average 56.6%.

On April 8, 2008, Allied Nevada completed a public offering of its common stock. The Company sold and issued 12,500,000 common shares and received total gross proceeds of CDN$ 65.6 million or approximately $64.6 million based upon the U.S./Canadian dollar exchange rate on the closing date. On April 18, 2008, Allied Nevada sold and issued an additional 1,875,000 common shares and received total gross proceeds of CDN$ 9.8 million or approximately $9.8 million based upon the U.S./Canadian exchange rate on the closing date pursuant to an over-allotment option exercised by the Company's underwriters. Aggregate net cash proceeds from the common shares issued pursuant to the public offering and exercise of over-allotment option were approximately $69.0 million. These funds were obtained primarily for the reactivation of the Hycroft mine.

Total capital, working capital and operating costs of attaining full production capacity at Hycroft are expected to be approximately $56 million. more