Allegiant Adopts New Compensation Plan
ALLEGIANT ADOPTS NEW COMPENSATION PLAN
Reno, Nevada / January 21, 2022 - Allegiant Gold Ltd. (“ Allegiant” or the “Company ”) (AUAU: TSX-V) (AUXXF:
OTCQX) wishes to announce that on January 13, 2022, the board of directors of the Company adopted a new 10%
rolling omnibus compensation plan (the “Plan”) governing the issuance of incentive stock options (“Options”) and
restricted share units (“RSU”). The Plan replaces the Company’s existing Option and RSU plans. The adoption of
the Plan remains subject to disinterested shareholder approval at the Company’s upcoming annual general and
special meeting to be held on February 28, 2022 and final approval of the TSX Venture Exchange (the “Exchange”).
The Company received conditional approval from the Exchange on January 17, 2022.
ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the
mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed -out, providing for cost reductions
and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is
located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and
sulphide gold mineralization at Eastside is amenable to heap leaching.
ON BEHALF OF THE BOARD
Peter Gianulis
CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning
of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws,
which are referred to collectively as "forward -looking statements". The United States Private Securities Litigation Reform Act
of 1995 provides a “safe harbor” for certain forward-looking statements. Allegiant Gold Ltd.’s (“Allegiant”) exploration plans
for its gold exploration properties, the drill program at Allegiant’s Eastside project, the preparation and publication of an
updated resource estimate in respect of the Original Zone at the Eastside pr oject, Allegiant’s future exploration and
development plans, including anticipated costs and timing thereof; Allegiant’s plans for growth through exploration activities,
acquisitions or otherwise; and expectations regarding future maintenance and capital e xpenditures, and working capital
requirements. Forward-looking statements are statements and information regarding possible events, conditions or results of
operations that are based upon assumptions about future economic conditions and courses of action. All statements and
information other than statements of historical fact may be forward -looking statements. In some cases, forward -looking
statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate” ,
“continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar
words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Such
forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks,
uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ
materially fro m those anticipated in such forward -looking information. You are cautioned not to place undue reliance on
forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual
results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk
Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on
SEDAR under Allegiant’s p rofile at www.sedar.com. Actual results and future events could differ materially from those
anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included
in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required
by applicable law.