Allied Nevada Gold Corp. announces non-brokered private placement

    TORONTO, June 25 /CNW/ - Allied Nevada Gold Corp. ("Allied Nevada" or the
"Company") (TSX & AMEX:   ANV) is pleased to announce that it intends to
complete a non-brokered private placement to raise gross proceeds of
CDN$15,000,000 through the issuance of an aggregate of up to 3,260,870 units
("Units") at a price of $4.60 per Unit (the "Offering"). Each Unit will be
comprised of one common share ("Common Share") and one common share purchase
warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire
one Common Share of the Company for a period of two years from closing at a
price of $5.75 per Common Share. The proceeds from the sale of the Units will
be used to develop the Company's Hycroft Mine in Nevada, working capital and
general corporate purposes.
    Executive officers and directors of the Company have indicated their
intention to subscribe for $4,750,000 of the Offering. Robert Buchan, the
Chairman of the Company, has expressed his intention to subscribe for
$4,000,000 of this amount.
    The Company has agreed to pay a commission of 5% of the gross proceeds
raised to eligible persons that arrange for purchasers ("Finders"). In
addition, Finders will be issued finders warrants exercisable for that number
of Units equal to 5% of the Units sold in the Offering, each such warrant to
be exercisable for a period of two years from closing at an exercise price of
$4.60. No commission will be paid in respect of sales to insiders of the
Company. Robert Buchan is also the Chairman of Quest Securities Corporation
which will receive finder's fees with respect to Units sold in connection with
the Offering.

    About Allied Nevada Gold Corp.

    Allied Nevada has a large land position in Nevada, providing a strong
platform from which to pursue growth opportunities. Allied Nevada has more
than 250 square miles of exploration and development properties, located in
some of the most important gold mining trends in the State of Nevada.
    Allied Nevada is a newly-formed independent company engaged in the
evaluation, acquisition, exploration and advancement of gold exploration and
potential development projects in the state of Nevada. Allied Nevada's
approach to gold projects will be to seek projects which have adequate
drilling and geological data to support the completion of a third-party review
of the geological data and to complete an estimate of the mineralized
material. In addition, Allied Nevada's management will look for opportunities
to improve the value of gold projects owned or controlled by Allied Nevada
through exploration drilling and/or introducing technological innovations.
Management expects that emphasis on gold project acquisition and improvement
will continue in the future.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning
of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934.
All statements, other than statements of historical facts, included in this
press release that address activities, events or developments that Allied
Nevada expects or anticipates will or may occur in the future, including such
things as future business strategy, competitive strengths, goals, expansion
and growth of Allied Nevada's business, operations, plans and other such
matters are forward-looking statements. When used in this press release, the
words "estimate", "plan", "anticipate", "expect", "intend", "believe" and
similar expressions are intended to identify forward-looking statements. These
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Allied
Nevada to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
factors include, among others, risks relating to Allied Nevada's status as a
newly formed independent company and its lack of operating history; risks that
Allied Nevada's acquisition, exploration and property advancement efforts will
not be successful; risks relating to fluctuations in the price of gold; the
inherently hazardous nature of mining-related activities; uncertainties
concerning reserve and resource estimates; and uncertainty of being able to
raise capital on favorable terms or at all; as well as those factors discussed
in Allied Nevada's latest Annual Report on Form 10-K and Quarterly Report on
Form 10-Q and other documents filed with the U.S. Securities and Exchange
Commission. Although Allied Nevada has attempted to identify important factors
that could cause actual results to differ materially from those described in
forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate as actual results and future events
could differ materially from those anticipated in such statements. Allied
Nevada assumes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or

For further information:

For further information: on Allied Nevada, please contact Scott Caldwell
at (775) 358-4455 or Hal Kirby at (775) 240-6561, or visit the Allied Nevada
website at

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