ALLEGIANT Announces the Expiry of its Agreement with Cordex; Andy Wallace Retires
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NEWS RELEASE
ALLEGIANT Announces the Expiry of its Agreement
with Cordex; Andy Wallace Retires
Vancouver, BC, Canada, July 3, 2019, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX -V) (AUXXF:
OTCQX) announces that its agreement with Cordilleran Exploration Company ("Cordex"), to design,
initiate and carry -out generative and mineral exploration activities in Nevada and elsewhere in the
United States on behalf of ALLEGIANT, has expired, and is not being renewed due to the retirement
of Andy Wallace, a principal of Cordex.
Cordex’s mandate included the identification of prospective acquisition opportunities for ALLEGIANT,
and to design and carry -out exploration programs on ALLEGIANT’ s portfolio of properties. Pursuant
to the agreement between Cordex and ALLEGIANT, all activities we re funded by ALLEGIANT whom
retained a 100% ownership of new projects staked, and Cordex benefited from an NSR royalty.
Cordex operated as ALLEGIANT’s and previously as Columbus Silver Corp.’s, and Columbus Gold
Corp.’s (ALLEGIANT was spun -out of Columbus Gold), exclusive exploration partner since 2005.
During this period, dozens of projects were staked from prospecting and generative activities ; about
34 projects were farmed -out to 21 companies , including Agnico, Barrick and Newmont ; and more
than 50 dri ll programs were carried -out by either Columbus, ALLEGIANT, or by their farm -out
partners. In the first seven years of the Cordex relationship, the generative -JV business model
pursued by the partnership was profitable, as a result of numerous option paym ents received from
farm-outs and from the proceeds of property sales.
Cordex is considered by many in the mining industry to be one of the most successful gold
exploration groups in the United States. Cordex was founded by the legendary John Livermore, who
discovered the Carlin Mine in Nevada and a new type of gold mineralization that is now referred to as
"Carlin-Type". The discovery of the Carlin Mine transformed the gold mining industry in the United
States and perhaps the world. At the height of the Nevada gold rush, in 1974, Andy Wallace joined
Cordex, becoming a full -time geologist in 1978, and eventually M anager of Exploration in 1985.
Cordex is credited with an unprecedented nine gold discoveries in Nevada.
Robert Giustra CEO of ALLEGIANT stated , “My personal associations with Andy Wallace and the late
John Livermore have truly been one of the highlights of my career. Their integrity and ethical business
practices resonate throughout the whole Cordex organization, and serve as a beacon for the entire
gold exploration and mining industry. On behalf of the Board of Directors I would like to thank Andy
Wallace for our many years of friendship and our business relationship, and congratulate him for his
outstanding achievements over a nearly 50-year career.”
ALLEGIANT is evaluating several options to form a new exploration team, including M&A.
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
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ABOUT ALLEGIANT
ALLEGIANT owns 100% of 1 0 highly-prospective gold projects in the United States, 7 of which are
located in the mining -friendly jurisdiction of Nevada. ALLEGIANT's flagship Eastside project hosts a
large and expanding gold resource, is district scale, 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.
Further information regarding ALLEGIANT can be found at www.allegiantgold.com.
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman & 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. 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", "t arget",
"may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes
or statements regarding an outlook. Forward -looking statements in this and other press releases include, but are not limited to
statements and informati on regarding: the evaluation of options to form a new exploration team or related M&A; Allegiant's
property holding costs savings or income generated from optioning out certain properties; Allegiant's drilling and exploratio n
plans for its properties, including anticipated costs and timing thereof; the potential of hosting good grade gold mineralization or
expansion; Allegiant's belief with respect to North Brown anomalies and the related transportation of mineralized fragments,
including the discovery of the source of the mineralized breccia fragments; indications of mineralization that is amenable to heap
leaching; Allegiant's plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future
maintenance and capit al expenditures, working capital requirements; and Barrian's plan to complete an initial public offering
and its acquisition of certain properties. 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 from those anticipated in such forward -looking information. You are
cautioned not to place undue relia nce 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 profile at www.sedar.com. Actual results and future events
could differ materially from those antici pated 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.