Hycroft Mine Reserves and Resources

Projected December 31, 2014 (at October 31, 2014)

 

 
Tons
Grades (opt)
 Contained Ounces (000s)
 
(000s)
Au
Ag
AuEq
 Au
 Ag
 AuEq

Proven & Probable Mineral Reserves

Proven Heap Leach

134,369

0.009

0.24

0.012

1,150

31,696

1,679

Probable Heap Leach

36,680

0.007

0.20

0.010

246

7,486

371

Total Proven & Probable Heap Leach

171,050

0.008

0.23

0.012

1,397

39,182

2,050

               

Proven Mill

620,392

0.012

 0.57

0.021

7,432

352,974

13,315

Probable Mill

157,760

0.011

0.46

0.019

1,722

73,119

2,940

Total Proven & Probable Mill

778,151

0.012

 0.55

0.021

9,153

426,093

16,255

TOTAL PROVEN & PROBABLE MINERAL RESERVES

949,201

0.011

 0.49

0.019

10,550

465,275

18,305

Waste

1,427,214

           

Total Tons

2,376,415

           

Strip Ratio

1.5

           

Measured & Indicated Resources (exclusive of Mineral Reserves)

Measured Heap Leach

337,113

0.006

0.20

0.009

2,051

69,060

3,202

Indicated Heap Leach

243,723

0.006

0.19

0.009

1,417

46,700

2,195

Total Measured & Indicated Heap Leach

580,836

0.006

0.20

0.009

3,468

115,760

5,397

               

Measured Mill

411,165

0.010

0.30

0.015

4,000

121,978

6,033

Indicated Mill

365,063

0.010

0.24

0.014

3,589

86,513

5,031

Total Measured & Indicated Mill

776,228

0.010

0.27

0.014

7,589

208,491

11,064

               

TOTAL MEASURED & INDICATED MINERAL RESOURCES

1,357,064

0.008

0.24

0.012

11,057

324,251

16,461

Inferred Mineral Resources

Inferred mineral resources total 620.1 million tons grading 0.010 opt AU and 0.26 opt Ag (0.014 opt AuEq)

 For additional information regarding Hycroft Mineral Reserves and Resources estimation and associated assumptions, please refer to report titled “Hycroft Project, NI 43-101 Technical Report, Mill Expansion Pre-feasibility Study, Winnemucca, Nevada, USA and dated May 21, 2014.  The report can be accessed on our website at www.alliednevada.com or at www.SEDAR.com.

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as “measured,” “indicated,” and “inferred” “resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from our website or the SEC website at http://www.sec.gov/edgar.shtml