Allied Nevada Announces Closing of Previously Announced Public Offering of Common Stock and Warrants

RENO, NEVADA--(Marketwired - Dec. 12, 2014) - Allied Nevada Gold Corp. ("Allied Nevada", "us", "we", "our" or the "Company") (TSX:ANV)(NYSE MKT:ANV) today announced that it has closed the previously announced public offering (the "Offering") of shares of common stock and warrants, and issued 21,750,000 shares and 10,875,000 warrants for gross proceeds of US$21,750,000. In connection with the purchase, investors received one share of our common stock and one half warrant to purchase our common stock for a price of US$1.00. Each whole warrant entitles the holder thereof to purchase one share of our common stock at an exercise price of US$1.10 for a period of five years from the closing date of the Offering. The warrants will not be separately listed for trading. H.C. Wainwright & Co., LLC acted as the sole lead placement agent for the offering in the United States and Canaccord Genuity Corp. acted as co-placement agent for the offering in Canada.

The Offering was conducted in the United States only by means of a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission ("SEC") on Form S-3 (File No. 333-200357), which was declared effective by the SEC on November 25, 2014.

Additional details of the Company's business, finances, appointments and agreements, including the United States prospectus supplement mentioned above, can be found as part of the Company's continuous public disclosure as a reporting issuer with the SEC on EDGAR at www.sec.gov and filed with Canadian securities regulators on SEDAR at www.sedar.com. Alternatively, copies of the United States prospectus supplement can be obtained by request at H.C. Wainwright & Co., LLC by contacting by telephone at [phone] or by e-mail at [e-mail].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act") (and the equivalent under Canadian securities laws) and the Private Securities Litigation Reform Act (the "PSLRA") or in releases made by the U.S. Securities and Exchange Commission (the "SEC"), all as may be amended from time to time. This cautionary statement is being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefit of the "safe harbor" provisions of such laws.