AGLD Allied Gold

TIDMAGLD

RNS Number : 3021E

Allied Gold Limited

05 April 2011

FOR IMMEDIATE RELEASE 5 April 2011

allied gold limited

("the Company")

"This press release is not for dissemination in the USA and shall not be disseminated to USA news services"

ASX Trading Halt Request

Allied Gold Limited (Allied) requested a trading halt of its securities on the ASX today.

The trading halt was requested pending release of an announcement regarding the finalisation of a proposed capital raising via a placement of shares.

Allied requested that the trading halt continue until the earlier of Allied making an announcement, or the opening of trading on 7 April 2011. The event Allied expects will end the trading halt is an announcement by Allied to the ASX in relation to the finalisation of the proposed capital raising.

For more details, please contact:

Simon Jemison Investor Relations & Media +61 418 853 922

Rebecca Greco Investor Relations, North America +1 416 839 8610

David Simonson c/o Merlin PR +44 20 7726 8400

Beaumont Cornish Limited

Roland Cornish

Beaumont Cornish Limited

T: +44 (0) 20 7628 3396

ABOUT ALLIED GOLD

Allied Gold is an emerging 200,000 ounce per annum gold producer with production and exploration assets in Papua New Guinea and the Solomon Islands approximately 3 hours by plane from Brisbane, Australia. The company's 100%-owned Simberi gold mine is 85 kilometres from Lihir Island in the Tabar Islands group in Papua New Guinea. Simberi commenced gold production in 2008, produced 64,000 ounces in 2009-10 and its process plant is being expanded to a throughput of 3.5 Mtpa to produce 100,000 ounces per annum by late 2011. Allied Gold acquired Gold Ridge in the Solomon Islands in late 2009 when it acquired Toronto-listed Australian Solomons Gold. Allied has invested $150 million to refurbish and redevelop Gold Ridge which is expected to produce an average 120,000 ounces per annum for a minimum ten years. Allied Gold Limited is listed on the ASX, TSX and the London AIM exchanges

Forward-Looking Statements

This press release contains forward-looking statements concerning the projects owned by Allied Gold. Statements concerning mineral reserves and resources may also be deemed to be forward-looking statements in that they involve estimates, based on certain assumptions, of the mineralisation that will be found if and when a deposit is developed and mined. Forward-looking statements are not statements of historical fact, and actual events or results may differ materially from those described in the forward-looking statements, as the result of a variety of risks, uncertainties and other factors, involved in the mining industry generally and the particular properties in which Allied has an interest, such as fluctuation in gold prices; uncertainties involved in interpreting drilling results and other tests; the uncertainty of financial projections and cost estimates; the possibility of cost overruns, accidents, strikes, delays and other problems in development projects, the uncertain availability of financing and uncertainties as to terms of any financings completed; uncertainties relating to environmental risks and government approvals, and possible political instability or changes in government policy in jurisdictions in which properties are located. Forward-looking statements are based on management's beliefs, opinions and estimates as of the date they are made, and no obligation is assumed to update forward-looking statements if these beliefs, opinions or estimates should change or to reflect other future developments.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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