Average Cost of Sales Is Expected to Be Approx. $350 Per Ounce of Gold Sold
RENO, NEVADA -- (Marketwire) -- 09/08/10 -- Allied Nevada Gold Corp. ('Allied Nevada' or the 'Company') (TSX: ANV)(NYSE Amex: ANV) is pleased to provide an updated milling scoping study(1) which envisions a 174,000 ore ton per day ('tpd') milling and heap leach operation (see previous scoping study in the press release dated April 5, 2010). This updated scoping study concludes that average annual production of approximately 610,000 ounces of gold and 27.0 million ounces of silver (or approximately 1.1 million ounces of gold equivalent) could be produced from the combined 100,000 tpd milling operation and 74,000 tpd heap leach operation. Annual cost of sales(2) is expected to average approximately $350 per ounce of gold sold (after silver byproduct credit).
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