1

www.AlliedNevada.com NYSE MKT/TSX: ANV

Corporate Presentation June 2013

2

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

CAUTIONARY NOTE REGARDING FORWARD‐LOOKING STATEMENTS This presentation and certain oral statements of management related thereto contain or may contain forward‐looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and the United States Private Securities Litigations Reform Act of 1995 (and forward‐looking information under equivalent Canadian securities laws), that are intended to be covered by the safe harbor created by such sections. Such forward‐looking statements and information include, without limitation: our future business strategy, plans and goals; our estimated future capital expenditures, construction, and other cash needs and expectations as to the funding or timing thereof; our expansion expectations, including with respect to the Hycroft Mine and Hasbrouck property; our expectations regarding the growth of our business and our estimates of mineral reserves and other mineralized material including measured, indicated and inferred mineral resources; the economic potential of the sulfide mineralization and milling project at the Hycroft Mine; the preliminary economic assessment at the Hasbrouck property; the anticipated results of the exploration drilling programs at our properties; future gold and silver prices; our production estimates; our expectations regarding gold and silver recovery; our estimated future sales and cost of sales; our anticipated cash flows and cash operating costs; the availability, terms and costs related to future borrowing, debt repayment, and equity funding; and other statements that are not historical facts. The words “estimate,” “plan,” “anticipate,” “expect,” “intend,” “believe,” “project,” “target,” “budget,” “forecast,” “may,” “will,” “would,” “could,” “might,” “seeks,” or “scheduled to,” or other similar words, or negatives of these terms or other variations of these terms or comparable language or a discussion of strategy or intentions identify forward‐looking statements. Although Allied Nevada management believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct. Important factors that could cause actual results to differ materially from those in the forward‐looking statements and information include, but are not limited to: volatile market prices of gold and silver; risks related to the heap leaching process at the Hycroft Mine, including but not limited to gold recovery rates, gold extraction rates, and the grades of ore placed on our leach pads; risks related to our ability to timely process the gold on carbon; uncertainties concerning estimates of mineral reserves, and other mineralized materials, including without limitation, measured, indicated and inferred resources, and grading; cost of compliance with current and future government regulations, including those related to environmental protection, mining, health and safety, corporate governance and public disclosure; uncertainties relating to obtaining or retaining approvals and permits from governmental regulatory authorities; our ability to achieve our estimated production rates and stay within our estimated operating costs; the commercial success of our exploration and development activities; an increase in the cost or timing of new projects; our current intention not to use forward‐sale arrangements; the inherently hazardous nature of mining activities, including operational, geotechnical and environmental risks; our ability to raise additional capital on favorable terms or at all; intense competition within the mining industry; uncertainties related to our ability to find and acquire new mineral properties; potential operational and financial effects of current and proposed federal and state regulations related to environmental protection and mining, and the exposure to potential liability created by such regulations; availability of equipment or supplies; our ability to attract and retain personnel; our ability to manage our growth; potential challenges to title in our mineral properties; risks associated with the expansion of our operations, including those associated with any future acquisitions or joint ventures; risks that our principal stockholders will be able to exert significant influence over matters submitted to stockholders for approval; and potential conflicts of interests that may arise through some of our directors’ involvement with other natural resources companies, as well as those factors discussed in Allied Nevada’s filings with the U.S. Securities and Exchange Commission (the “SEC”) including Allied Nevada’s latest Annual Report on Form 10‐K and its other SEC filings (and Canadian filings). There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements and information. The Company does not intend to publicly update any forward‐looking statements and information, whether as a result of new information, future events or otherwise except as may be required under applicable securities laws.

CAUTIONARY NOTE ON RESOURCES AND RESERVES U.S. Investors are cautioned that the terms “measured”, “indicated” and “inferred” resources and “probable” or “proven” reserves are not recognized by the SEC and they should not assume that any or all of the mineral resources in these categories will ever be converted into SEC defined mineral reserves. Inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. As set forth in this presentation, certain resources disclosed herein have been calculated in accordance with Canadian National Instrument 43‐101 – Standards of Disclosure for Mineral Projects (“NI 43‐101”), and these may not be comparable to reserves calculated under SEC Industry Guide 7 requirements. U.S. investors are cautioned not to assume that all or any part of a proven or probable reserve under NI 43‐101 would constitute a reserve under SEC Industry Guide 7 standards or has been determined to be legally mineable. For the details of reserve and resource calculations disclosed herein and the details of key assumptions, parameters and other relevant technical information associated therewith, readers should refer to the technical reports filed on www.sedar.com under the Allied Nevada Gold Corp. profile, for each of the material properties discussed herein. Scott Wilson of Scott E. Wilson Consulting, Inc. is a Certified Professional Geologist and member of the American Institute of Professional Geologists in Denver, Colorado, and is a Qualified Person as defined by NI 43‐101. Mr. Wilson is the independent resource estimate consultant for Allied Nevada Gold Corp. For further information on the geology, mineralization, parameters, assumptions and risks underlying mineral resource and reserve estimates, the technical reports and other technical information with respect to the Hycroft Mine and Hasbrouck Property. “Adjusted cash costs” is a non‐GAAP measure, calculated on a per ounce of gold sold basis, and includes all direct and indirect operating cash costs related to the physical activities of producing gold, including mining, processing, third‐party refining expenses, on‐site administrative and support costs, royalties, and mining production taxes, net of by‐product revenue earned from silver sales.

The information contained in this document is subject to the more detailed information provided in the disclosure documents filed by the Company from time to time on SEDAR and EDGAR.

All dollar amounts in this presentation are expressed in US dollar, unless otherwise noted.

Cautionary Statement on Forward Looking Information

3

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• Allied Nevada is a US‐based gold and silver producer, focused on growth in Nevada

• Total Company wide reserve and resource base of 55.3 million ozs AuEq1

• Flagship operation, Hycroft Mine, is expanding to become one of North America’s largest heap leach and milling operations by 2015

– 2013E production of 225,000‐250,000 oz of gold and 1.5 M‐1.8 M oz of silver

– Building within an existing operation in a region where infrastructure is established and mining parameters are well known reduces execution risk

– Long life asset with significant reserves of 11.9 million ozs Au and 509.6 million ozs Ag

– Reserve and resource base at Hycroft is 48.7 million ozs AuEq1

• Large portfolio of exploration properties in Nevada, provide opportunity for organic growth

• Exceptionally low political risk with all Nevada focus

• Board and management have extensive construction, development and mine operating experience on large projects and operations globally

• Financially well positioned with cash on hand of $385 million2, an undrawn credit facility of $120 million, available capital lease programs and growing operating cash flow

1. Gold equivalent resources comprised of proven, probable, measured, indicated and inferred gold ounces plus silver ounces (converted to gold equivalent at a ratio of 57.14:1) 2. Cash on hand is based on cash and cash equivalents at 03/31/13 of $243 million plus net proceeds of recently completed equity financing

Allied Nevada Overview

4

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Source: Metals Economics Group Secondary metal resources converted to gold equivalent ounces using ratios of: Ag - 57.14:1, Cu - 0.26:1, Mo - 0.08:1, Pb - 0.87:1, Ur – 0.02, 0.96:1.

Positioned Among Global Giants Primary Gold Producers - Globally Total Gold Equivalent Resources

0

10

20

30

40

50

60

70

80

90

Pho

enix

- N

ewm

ont

Gol

dstri

ke -

Bar

rick

Tasi

ast -

Kin

ross

Moa

b Kh

otso

ng -

Angl

oGol

d A

shan

tiV

asilk

ovsk

oje

- Gle

ncor

e X

stra

taB

ulya

nhul

u - A

frica

n Ba

rrick

Aha

fo -

New

mon

t Min

ing

Obu

asi -

Ang

loG

old

Ash

anti

Los

Filo

s - G

oldc

orp

Joel

- H

arm

ony

Gol

dK

ibal

i - R

andg

old/

Ango

lGol

dTe

lfer -

New

cres

t Min

ing

Live

ngoo

d -

Inte

rnat

iona

l Tow

er H

illC

arlin

Dep

osits

- N

ewm

ont

Bod

ding

ton

- New

mon

t Min

ing

Par

acat

u - K

inro

ssB

lyvo

orui

tzic

ht -

Villa

ge M

ain

Ree

fTu

rquo

ise

Rid

ge -

Bar

rick

Free

Sta

te -

Har

mon

y G

old

Eva

nder

- P

an A

frica

n R

esou

rces

Cor

tez

Dep

osits

- Ba

rrick

Cer

ro C

asal

e - B

arric

k G

old

Cor

pB

uffe

lsfo

ntei

n G

old

- Villa

ge M

ain

Ree

fM

pone

ng -

Angl

oGol

d As

hant

iC

adia

Eas

t - N

ewcr

est M

inin

gD

onlin

Gol

d - B

arric

k/N

ovaG

old

Pas

cua

Lam

a - B

arric

kP

enas

quito

- G

oldc

orp

Pue

blo

Viej

o - B

arric

k/G

oldc

orp

Olim

piad

a - P

olyu

sM

urun

tau

Ope

n P

it - N

avoi

Min

ing

Hyc

roft

- Allie

d N

evad

aN

atal

ka -

Poly

usLi

hir I

slan

d - N

ewcr

est M

inin

gK

loof

/Drie

font

ein

- Sib

anye

Gol

dC

ibal

iung

- A

neka

Tam

bang

Sou

th D

eep

- Gol

d Fi

elds

Gol

d Eq

uiva

lent

Oun

ces

(Mill

ions

)

5

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Top 10 Nevada Deposits

0

10

20

30

40

50

60R

ound

Mou

ntai

n

Twin

Cre

eks

Mar

igol

d

Bal

d M

ount

ain

Phoe

nix

Gol

dstr

ike

Turq

uois

e R

idge

Car

lin (N

ewm

ont

Dep

osits

)

Cor

tez

Dep

osits

Hyc

roft

Gol

d Eq

uiva

lent

Oun

ces

Total Gold Equivalent Resources

Resources (AuEq) Reserves (AuEq)

Includes proven, probable, measured, indicated and inferred ounces. Silver ounces converted to gold equivalent ounces using a ratio of 57.14:1.

6

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Enterprise Value Per AuEq Reserve and Resource

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800B

2Gol

d

Ala

mos

San

Gol

d

Hig

h R

iver

Coe

ur M

inin

g

New

Gol

d

Osi

sko

Vis

ta

Eld

orad

o

Rom

arco

Dun

dee

Pre

ciou

s M

etal

s

AuR

ico

Det

our G

old

Ala

cer

Cen

terr

a

Allie

d N

evad

a

EV/Reserve Ounce (AuEq)

EV/Total Resource Ounce (AuEq, icludes 2P)

US

Dol

lars

/oun

ce o

f Gol

d Eq

uiva

lent

Source: Company data Resources are defined as proven, probable, measured and indicated resources.

7

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Gold Ounces (000s)

Silver Ounces (000s)

AuEq Ounces (millions)

P+P Reserves 11,875 509,559 20.8

M+I Resources 9,472 272,893 18.7

Inferred Resources 6,390 166,325 9.3

HYCROFT MINE

Gold Ounces (000s)

Silver Ounces (000s)

AuEq Ounces (millions)

Inferred Resources 1,491 29,322 2.0

HASBROUCK/THREE HILLS PROJECT

• Significant additional inferred resources • Current mine life: minimum 19 years • Current processing: open pit, heap leach

Strong Nevada Presence

Note: See appendix for notes on the technical disclosure 1. Hycroft reserves and resources estimated using break‐even cut‐off

grades consistent with gold and silver selling prices of $800/oz and $14/oz, respectively.

2. See 43‐101 Technical Reports for Maverick Springs, Mountain View and Pony Creek filed under Allied Nevada’s profile on SEDAR.

WILDCAT Gold

Ounces (000s) Silver

Ounces (000s) AuEq Ounces

(millions)

Measured & Indicated

686 Previously produced,

however, not previously

reported on a resource

basis

0.7

Inferred Resources 425 0.4

• Additionally, Allied Nevada has M+I+I Resources (as reported in 43-101 reports) of 1.4 million ounces of gold at Maverick Springs, 0.5 million ounces of gold at Mountain View and 1.5 million ounces of gold at Pony Creek2.

8

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Allied Nevada: 2012 Results

(1) Allied Nevada uses the non-GAAP financial measure “adjusted cash cost” in this document. Please see the section in our most recent Form 10-Q and Form 10-K titled “Non-GAAP Measures” for further information regarding these measures.

• Ore tons placed on the leach pad (30.3 million) increased 82% compared with 2011;

– Total tons mined (60.2 million) increased 77% increase over 2011

• Record production and sales were achieved in 2012

– Produced 136,930 ounces of gold and 794,097 ounces of silver (32% and 66% higher than 2011 production results, respectively)

– Sold 114,705 ounces of gold and 696,144 ounces of silver (30% and 87% higher then 2011, respectively) at an adjusted cash cost1 of $638/ounce

• Revenues increased 41% over 2011 to a record $214.5 million

• Net income increased by 31% to a record $47.7 million or $0.52 per fully diluted share

• Workforce at Hycroft more than doubled in 2012 to over 400 employees

9

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• 2013 sales of between 225,000‐250,000 ounces of gold and 1.5M‐1.8M ounces of silver

– 90,000 – 100,000 ounces of gold in first half, stronger production in second half

– Expect to place 46.5 million tons of ore on the heap leach pads at average grades of 0.012 opt Au and 0.25 opt Ag

– Average strip ratio of 0.6:1 (which includes mill ore mining and stockpiling)

• Adjusted cash cost1 expected to be $665‐685 per ounce (with silver as a byproduct credit)

• Significant milestones for 2013: – Gyratory crushing system online (Q3 2013)

– North heap leach pad expected (late Q2 2013) • Began loading ore on the lower cells in early May 2013

– 21,500 gpm Merrill‐Crowe facility (Q3 2013)

– First two 73‐cubic yard wire rope shovels (Q2 and Q4 2013)

Hycroft Operations: 2013 Guidance

(1) Allied Nevada uses the non-GAAP financial measure “adjusted cash cost” in this document. Please see the section in our recently filed Form 10-Q titled “Non-GAAP Measures” for further information regarding these measures.

Carbon strip plant Increased retort capacity First wire rope shovel (commissioning)

10

Hycroft Overview

Brimstone Leach Pad

Main office, lab and truck shop

Brimstone Pit

Bay

Area

Vortex

1 mile

(Und

er c

onst

ruct

ion)

Nor

th L

each

P

ad E

xpan

sion

~ 3.

0 m

iles

Section 40400N

11

Section 40400N – Central West and Vortex

1,000 feet

0.004 – 0.009 opt 0.009 – 0.011 opt 0.011 – 0.020 opt 0.020 – 0.070 opt + 0.070

Grade Distribution (opt AuEq)

$1,000 Pit Current Reserve Pit

12

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• Significantly strengthened operations and construction team • 270 contract and Allied personnel currently working on the expansion project

• Poured over 21,600 cubic yards of concrete (crushing system, Merrill‐Crowe) • North Leach Pad (Q2 2013), gyratory crusher (Q3 2013) and 21,500 gpm Merrill Crowe plant

(Q3 2013) construction on track • Lower cells of North Leach Pad are complete and ore is now being leached on those cells

• Over 430,000 manhours spent to date on projects • Productivity to date is as expected

Hycroft: Expansion Developments

2012 2013E 2014E 2015E 2016E 2017E 2018E Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Permitting

Oxide Expansion EIS

Starter Tailings, Power and Rail Spur EA

Large Tails Facility, Mining below Water Table EIS

Equipment and Major Projects

Initial 320-ton trucks

Gyratory Crusher Installation

Mill Construction

2 Electric Rope Shovels

Production Milestones

North Leach Pad and 21,500 gpm Merrill Crowe

Gyratory Crusher Operational

Mill Start-up

13

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• Merrill-Crowe plant – all construction and operating permits in place – Permits to operate associated refinery components expected by end of 2013

• Crushing system – all construction and operating permits in place

• Mill – construction permits in place

– Operating permit anticipated in Q4 2013 – Water rights expected by Q3 2013

• North leach pad – all permits in place to operate

• South leach pad

– Permit approving revised construction and design expected in Q3 2013 • EA submitted Sept. 2012

– Covers power line, rail spur, addition of tails dam and well field for mill – Currently going through normal comment periods – Expect to receive BLM approval in Q1 2014

• EIS for mining under the water table

– Plan of operations expected to be submitted in Q1 2014, immediately following receipt of EA approval – Allows for mining below the water table and large tailings facility

Key Permitting Milestones

14

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

North Leach Pad & New Merrill-Crowe Facility NORTH LEACH PAD

MERRILL-CROWE PLANT

15

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Crushing System Construction

16

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Crushing System: Reclaim and Secondary/Tertiary

Reclaim Chambers

Secondary/Tertiary crushing

Mill excavation

17

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• Original plan called for a 130,000 tpd plant to begin operation in January 2015

• Current plan is to stage the construction schedule such that:

– 75,000 ton per day grinding and flotation plant initially brought online in 2015 • Similar flow sheet as originally planned

– Oxide and transitional ore to be treated up front, leached on site • Sulfide material would be introduced in the later years, reducing concentrate production

– Build second line once initial plant is operating at nameplate capacity

• Potential benefits:

– Capital spending more aligned with cash flow generation from operations

– Phases in all aspects of growth; manpower, equipment requirements, supervisory skills

– Train a smaller group and allow them to train the second wave of employees as the mill capacity increases

• Also evaluating on‐site concentrate treatment options

– Hypochlorination | Fine grind and intense cyanidation | Bio‐oxidation

– Control timing and costs of metal production

– Reduce dependency on outside treatment facilities

– Reduce working capital requirements

Evaluating Hycroft’s Future Growth

18

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Transformational Growth Opportunity

Overview of developments

2012 Accomplishments - Continued current

heap leach production - Progress heap leach

acceleration project - Commence excavation

of crusher and mill foundation

2013 - North leach pad

development - Addition of crushing

conveying system associated with heap leach expansion

- Increased recoveries - Completion of detailed

engineering for mill - Electric wire-rope

shovels begin operating

2014 - Mechanical completion

of mill end of December - Target a rate of 120 mm

tons of material mined for the year

2015 - First quarter

commissioning of milling facility

Projected production growth profile

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

-

100

200

300

400

500

600

2009A 2010A 2011A 2012A 2013E 2014E Average2015-2017E

Ounces Silver (000s)

Ounces Gold (000s) Mill gold production Heap leach gold production Silver production

Conceptual 75,000 tpd

mill scenario

19

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE Primary

Crusher

36’ SAG Grinding

Mill

Cleaner Flotation Cells

Transition Rougher Tails

Leach Tanks

Tailings Management Facility

Rougher Tailings

36’ SAG Grinding

Mill

26’ Ball Grinding Mills

Rougher Flotation Cells

Merrill-Crowe Plant

Pregnant Solution

Concentrate Processing

Pregnant Solution

Transitional Tails Storage

Cleaner Flotation Cells

Rougher Flotation Cells

Simplified Mill Flowsheet Design

Scre

ens

Cone Crusher Ov

ersiz

e Ma

terial

Initial line

Additional capacity

Cleaner Scavenger Tails Leach

20

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• We are evaluating other options for processing the sulfide concentrate at Hycroft: – Hypochlorination, fine grind with intense cyanidation and bio‐oxidation – All of these processes have been proven in operations globally

• Hycroft ore is considered to be optimal for these processes given that: – Testing has indicated that it requires very little oxidation to achieve recovery at or above that of

transition material – Hycroft mineralization is not carbonaceous

Evaluating Concentrate Treatment Options

• Hypochlorite is a rapid and efficient oxidizing agent • Has been used as an oxidation method for generations • Hypochlorination got its start in the Carlin area and is still used at major gold

mines such as Goldstrike – Began in Nevada at the Jerritt Canyon operation

• Involves regrinding the concentrate to a very fine degree and leaching it with a high concentration of cyanide

• Would not include an oxidation step as it is meant to allow leaching solution access to more surface area of the ore

Hypochlorination

Fine Grind

21

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• BIOX is a oxidation processing method developed by Goldfields South Africa

• The BIOX process being considered is a process developed for the pre‐treatment of sulfidic refractory ores prior to conventional leaching for metal recovery

• The BIOX process is considered to be both economically viable and environmentally sound

• The BIOX process can be scaled easily and is a relatively simple operation • Established technology with 12 current or past producing plants worldwide

Evaluating Concentrate Treatment Options

Bacteria at work oxidizing sulfide particle (Pictured sulfide material is not Hycroft). Times and oxidation rates vary from operation to operation

Bio‐oxidation (BIOX)

Typical BIOX Flowsheet

Appendix

23

Proven and Probable Reserves as of 12/31/12

Hycroft Proven & Probable Reserves

Tons Grades Contained Ounces (000s) (000s) Au Ag AuEq Au Ag AuEq Proven Heap Leach 220,089 0.007 0.21 0.011 1,560 45,141 2,350 Probable Heap Leach 58,870 0.007 0.20 0.010 389 11,850 596 Total Proven & Probable Heap Leach 278,959 0.007 0.20 0.011 1,949 56,991 2,946

Proven Mill 679,120 0.012 0.56 0.022 8,189 377,914 14,803 Probable Mill 149,999 0.012 0.50 0.020 1,737 74,654 3,044 Total Proven & Probable Mill 829,119 0.012 0.55 0.022 9,926 452,568 17,847

TOTAL PROVEN & PROBABLE MINERAL RESERVES 1,108,078 0.011 0.46 0.019 11,875 509,559 20,793 Waste 1,271,760 Total Tons 2,379,838 Strip Ratio 1.15

Measured and Indicated Resources (Exclusive of Reserves) as of 12/31/12

Reserve estimate based on gold and silver prices of $800/oz and $14/oz, Resources are based on a gold price of $1,200 per ounce and a silver price of $21 per ounce Inferred resources total 628.3 million tons grading 0.010 Au and 0.26 Ag

Tons Grades Contained Ounces (000s) (000s) Au Ag AuEq Au Ag AuEq Measured Heap Leach 419,349 0.006 0.19 0.009 2,402 80,675 3,814 Indicated Heap Leach 270,308 0.006 0.18 0.009 1,521 49,678 2,390 Total Measured & Indicated Heap Leach 689,657 0.006 0.19 0.009 3,923 130,353 6,204

Measured Mill 511,623 0.009 0.27 0.014 4,691 139,890 7,140 Indicated Mill 395,500 0.010 0.23 0.014 3,814 89,905 5,388 Total Measured & Indicated Mill 907,123 0.009 0.25 0.014 8,506 229,796 12,527

TOTAL MEASURED & INDICATED MINERAL RESOURCES 1,596,780 0.008 0.23 0.012 12,429 360,148 18,732

24

Section 40400N – Central West and Vortex

1,000 feet

0.004 – 0.009 opt 0.009 – 0.011 opt 0.011 – 0.020 opt 0.020 – 0.070 opt + 0.070

Grade Distribution (opt AuEq)

$1,000 Pit Current Reserve Pit

25

Reserve Sensitivity to Metal Price Changes

Metal Prices Total Tons (000s) Waste Tons (000s) Total Contained Ounces (000s)

Au Ag Au Ag

$400 $7 112,928 55,191 864 78,648

$600 $11 528,978 248,876 3,533 195,622

$800 $14 2,379,838 1,271,760 11,875 509,559

$1,000 $18 3,539,204 1,685,260 18,059 719,452

$1,200 $21 4,226,493 1,877,069 21,505 812,976

$1,400 $25 4,574,405 1,959,424 23,019 857,699

$1,600 $28 5,032,266 2,171,372 24,283 897,840

$1,800 $32 5,300,572 2,256,594 25,114 923,583

$2,000 $35 5,633,561 2,391,129 25,931 949,929

Metal Price Sensitized Analysis of Proven & Probable Mineral Reserves at December 31, 2012

The $800 per ounce gold and $14 per ounce silver line (bold and highlighted) reflects our current reserve estimate. The $1,400 per ounce gold price line (highlighted) represents a potential reserve, recognizing a trailing 3-year average gold price of $1,488 per ounce.

26

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

Operating Costs

Labor, 12%

Reagents / Grinding

Media, 34%

Equipment, 16%

Power, 15%

Fuel & Lube, 12%

Explosives, 2%

Other, 2%

Concentrate Freight &

Treatment, 7%

2015 Hycroft Cost Breakdown

Labor, 22%

Reagents, 21%

Equipment, 25%

Power, 1%

Fuel & Lube, 23%

Explosives, 4%

Other, 4%

2012 YTD Hycroft Cost Breakdown

Mobile Equipment,

19%

Fixed Equipment,

2%

Tires, 4%

Fuel $ 3.450 per gal Power $ 0.060 per kWh ANFO $ 0.200 per lb NaCN $ 0.770 per lb Lime $ 0.048 per lb

Operating Costs ‐ LOM Mining cost/ton mined $ 1.29 Milling cost/ton of ore milled (includes all treatment costs) $ 7.00 Heap leach cost/ton of ore heap leached $ 1.52 G&A cost/ton of ore processed $ 0.48

Major Consumable Price Assumptions

27

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

• Cleaner Concentrate Mineralogy

Concentrate Mineralogy

Mineral Constituent Mineral Mass %

Pyrite/Marcasite 72.00 % Chalcopyrite 0.13 % Arsenopyrite 0.26 %

Other Sulfides 0.07 % Quartz 16.60 %

Feldspar 3.15 % Clays 2.01 % Micas 4.15 %

Other Silicates 0.04 % Ti Oxides 0.19 %

Other Oxides 0.04 % Native Sulfur 0.25 %

Sulfates 1.04 % Carbonates 0.01 % Ag Minerals 0.01 %

Other 0.05 % Total 100.00 %

Visible Silver in Pyrargyrite

• Gold is associated with the pyrite/marcasite

• Silver occurs in the cyanide soluble minerals pyrargyrite, miargyrite and naumannite

Liberated Silver Mineral in Concentrate

ALL

IED

NE

VA

DA:

L

OG

ICA

L |

RE

SP

ON

SIB

LE |

GR

OW

TH |

VA

LUE

28

Management & Directors KEY EXECUTIVES

Bob Buchan – Executive Chairman, President & CEO • Founder of Allied Nevada, and facilitated the spin-out and formation of the Company from Vista Gold in 2006 • Mining Engineer and has over 35 years of experience in the North American mining sector • Also founder of Kinross Gold Corporation, where he was President and CEO until he left in 2005

Stephen Jones – EVP and CFO • Joined Allied Nevada in March 2012 • Prior to joining Allied He was most recently President, CFO and Director of EPM Mining Ventures Inc. • Previously Senior Vice President and Chief Financial Officer for Katanga Mining where he successfully raised

approximately $300 million through various debt financing instruments and managed the marketing group • Has held various positions at Freeport McMoran Copper and Gold including Senior Vice President & CFO

Randy Buffington – EVP and COO • Joined Allied Nevada in February 2013 • Has over 28 years of management, operations, engineering and construction experience, which he attained through his

various management positions at globally focused mid-tier and senior mining companies • Most recently from Coeur d'Alene Mines Corporation, where he was Senior Vice President, Operations • Prior to that, he served in a variety of operations management roles with Barrick Gold Corporation including; General

Manager of Barrick's Goldstrike mining complex; and General Manager of their Ruby Hill and Bald Mountain mines in Nevada. Randy has a Masters degree in Civil Engineering.

DIRECTORS

Bob Buchan – Executive Chairman, President & CEO John Ivany C/CG/HSE/N

Cameron Mingay CG/HSE

Terry Palmer A

Carl Pescio HSE

Murray SinclairA Robert WardellA/C/CG/N

A – Audit Comm. C – Compensation Comm. CG – Corporate Governance Comm. HSE – Health, Safety & Environmental Comm. N – Nominating Comm.

29

ALLIE

D NE

VADA

: L

OGIC

AL |

RES

PONS

IBLE

| G

ROW

TH |

VAL

UE

1. See the NI 43‐101 Technical Report prepared by MDA and dated 08/14/06 for more information on the Three Hills deposit. 2. Subject to 4% NSR. 3. Adjusted cash costs assume revenue from silver sales as a credit to costs. Allied Nevada uses the non‐GAAP financial measure “adjusted cash cost” in this document. Please

see the section in our recently filed Form 10‐Q titled “Non‐GAAP Measures” for further information regarding these measures.

Hasbrouck Project: PEA Highlights • Estimated initial capital cost of $78.1million

• Conventional 40,000 tpd ROM/crush heap leach mine • Smaller mining equipment from Hycroft will be refurbished for Hasbrouck • Process higher recovery Three Hills material first • Potential for a 6,000 tpd mill to take advantage of increased recovery and coarse gold as additional

high-grade is discovered • Inferred mineral resources of 1.2mm oz of contained Au and 29.3mm oz of

contained Ag (128.6mm tons grading 0.009 opt Au and 0.228 opt Ag) • Mine plan includes mining and processing nearby Three Hills indicated and inferred mineral

resources1 of 147,800 ounces of gold (MDA, 08/14/06 Technical Report) • Property located approximately 5 miles north of Hasbrouck • Three Hills heap leach gold recovery of 87.8% (material crushed to 3/8 inch)

• Historic and recent Allied Nevada metallurgical test work on Hasbrouck material indicates run‐of‐mine recoveries of 60% Au and 14% Ag at 80% passing 3/8 inch

• Rapid gold extraction rate, recovery achieved after 51 days of leaching • Current and historic test work on -200 mesh material indicates recoveries of approximately 90%

gold and greater than 50% silver

Ownership2:

Annual production: Gold Silver

Adjusted cash cost3:

Mine Life:

IRR:

NPV (6%):

Payback:

Assumptions:

Au price: Ag price:

100%

135,000 oz 540,000 oz $555/oz

5 years

60%

$89.7 million

18 months

$1,000/oz $18/oz

Metal Prices NPV @ 0% NPV @ 6% After Tax

IRR Average Adjusted

Cash Cost/oz* Au Ag $ Million $ Millions % $/ounce

$800 $14 $49.9 $29.1 28% $550 $1,000 $18 $147.1 $98.7 60% $555 $1,200 $21 $239.1 $164.8 104% $560 $1,400 $25 $326.7 $230.3 138% $565

* With silver as a byproduct credit

30

Wildcat

Tons Au, opt Au ozs. Ag, opt Indicated 38,108,000 0.018 686,000 0.16 Inferred 28,355,000 0.015 425,000 n/a 1,111,000

Resources1

1. Resources are from the August 14, 2006 Technical Report.

Current Resource Target Areas

Money Zone

Target

Horseshoe Zone

Target

Historic production of 158,000 oz Au was recorded from the Seven Troughs district, which includes

Wildcat, though only 152,000 tons of material were mined.