Issue of Equity

FOR IMMEDIATE RELEASE 24 November 2010

allied gold limited

("Allied", "Allied Gold" or "the Company")

Issue of Equity

Allied Gold Limited ("Allied Gold" or the "Company") (TSX:ALG; ASX:ALD; AIM:AGLD) announces the following changes to its securities on issue:

·; The issue of 1,699,427 fully paid ordinary shares pursuant to the exercise of options at $0.31 per share.

The Fully Paid Ordinary Shares will rank pari passu with all existing ordinary shares, and trading of the Shares on AIM is expected to commence on 30 November 2010. This brings the total shares in issue to 1,041,831,569 and total Options over Ordinary Shares to 75,167,500 representing approximately 7.2% of the issued share capital.

For further information, contact:

Allied Gold Limited

Frank Terranova

Chief Financial Officer

T: +61 7 3252 5911

M: +61 448 187 557

E: [email protected]

Peter Torre

Company Secretary

T: +61 8 9287 4604

E: [email protected]

Beaumont Cornish Limited

Roland Cornish

Beaumont Cornish Limited

T: +44 (0) 20 7628 3396