Allied Nevada is engaged in the evaluation, acquisition, exploration and advancement of gold exploration and development projects in Nevada. The Company has announced its decision to reactivate the Hycroft Mine which is expected to begin gold production in the 4th quarter of 2008. The Hycroft Mine has been under care and maintenance since 1998 when operations were suspended due to low gold prices. The initial 90,000 foot drill hole program has been completed. Results from this program warranted a second phase of exploration drilling which is currently underway. The priority and emphasis of this program is the evaluation of the deeper high-grade sulfide potential and the expansion of the Brimstone deposit oxide reserve.

In addition to The Hycroft Mine, Allied Nevada is involved in over 100 exploration properties located in the state of Nevada. This prospective exploration land package is in excess of 220,000 acres in size and is located in some the most prolific gold trends in the state. A number of these properties are optioned to others, and Allied Nevada receives an annual advanced minimum royalty stream of approximately $4 million.

The Hycroft Mine is located in the Sulfur Mining District approximately 54 miles west of Winnemucca in Humboldt County, Nevada. Activities associated with re-opening the open pit run of mine heap leach gold mine are currently underway with initial gold production scheduled for the 4th quarter of 2008. The mine is scheduled to produce approximately 95,000 ounces of gold in 2009. The first phase 90,000 foot exploration program, designed to expand the oxide reserve and gain a better understanding of the large sulfide gold/silver system, has been successfully completed. Results were encouraging, and the second 90,000 foot exploration program is in progress.
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Hycroft Drill Holes