The Brimstone Mine is expected to produce approximately 375,000 ounces of gold and 1.5 million ounces of silver over the next five years. While in production, by the prior operator, between 1994 and 1998, the Brimstone deposit contributed approximately 175,000 ounces of gold production to the Hycroft Mine’s total production of more than a million ounces of gold. Gold and silver will be produced by utilizing a run-of-mine heap leach process and a Merrill Crowe gold recovery plant. Gold production is targeted to begin in the fourth quarter of 2008 and is estimated to average 100,000 ounces per year from 2009-2011, and 60,000 ounces in 2012. Average cost of sales per ounce of gold for the life of the mine is estimated to be $340. Selected operating unit rates for the project are estimated to be:

Allied Nevada has purchased a mining fleet. Allied Nevada personnel will carry out all operating activities and provide technical, health and safety, environmental and general management support. The total labor force is expected to be approximately 135 persons.

Based on current estimates, the initial expenditure required to attain this production is expected to be $40 million, with virtually all of the capital funds planned to be spent in 2008.

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