Commencement And Expansion Of Drilling Program at Eastside

RENO, NV - Allegiant Gold Ltd. reported the arrival of a reverse circulation (RC) Drill Rig at Eastside and commencement of drilling. Furthermore, the Company is expanding the drill program from the originally planned 12,000 meters to over 14,000 meters. Following up on the recently received permitted area expansion, Allegiant plans to drill up to 30 RC holes in the East Pediment area immediately to the east of the Original Pit Zone (“OPZ”) to an average depth of 200 meters. In addition, the Company intends to move the rig to the West Anomaly area of Eastside where approximately 10 RC holes will be drilled to an average depth of 300 meters. The East Pediment drilling targets resistivity highs under shallow, alluvial cover (2-20 m). These resistors have the same geophysical signature as the rhyolite domes hosting most of the gold and silver in the area of past drilling at the Original Pit Zone. The West Anomaly drilling is targeting geochemical anomalies detected by surface sampling where gold values range from 0.5 g/t - 24 g/t gold with attendant pathfinder trace element signatures. To date, there has been no previous drilling on the East Pediment or the West Anomaly.

Peter Gianulis, CEO, said, “We are very excited to start the follow-up drill program at Eastside. The recent strategic investment from Kinross Gold has made it possible for us to expand our 2022 drill program to more than 14,000 meters. The commencement of this much anticipated RC program will provide us with an excellent opportunity to expand the existing resource beyond the Original Pit Zone.”