ALLIED NEVADA GOLD CORP.

Allied Nevada Gold Corp. reported its financial and operating results for the three and nine months ended September 30, 2009. Allied Nevada reported its first positive quarterly earnings in the third quarter with net income of US$5.1 million ($0.08 per share) for the third quarter of 2009 compared with a net loss of $9.7 million ($0.17 per share) for the same period in 2008. Year to date, the Company recorded a net loss of US$9.3 million ($0.15 per share), compared with US$26.5 million ($0.51 per share) for the same period in 2008. Record revenue from gold sales of 20,620 ounces and 27,963 ounces were US$19.7 million and US$26.6 million for the three and nine months ended September 30, 2009, respectively, at average realized gold prices of US$955 per ounce for the third quarter of 2009, $950 per ounce year to date. Cost of sales per gold ounce sold (excluding depreciation and amortization) declined in the third quarter to $364 with year to date cost of sales per gold ounce of US$397. The Hycroft mine poured its first gold on December 7, 2008 and completed its first full year of operations in the third quarter of 2009.