ALLEGIANT Completes Drilling at Adularia Hill and Announces Results from Monitor Hills
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NEWS RELEASE
ALLEGIANT Completes Drilling at Adularia Hill and
Announces Results from Monitor Hills
Vancouver, BC, Canada, April 17, 2019, Allegiant Gold Ltd. ("ALLEGIANT") (AUAU: TSX -V) (AUXXF:
OTCQX) reports that it has completed drilling at its Adularia Hill gold project located in Nevada.
ALLEGIANT completed 21 RC holes totaling 3,170 meters at Adularia Hill; assays are pending.
ALLEGIANT also reports that it has received assays from drilling carried-out at its Monitor Hills project,
located in Nevada. Drilling at Monitor Hills encountered broad zones of anomalous gold bu t better
grade gold was only present in narrow 1.5 to 3 meter intervals. Overall the drilling results are
considered too low -grade, and in the context of prioritizing expenditures on ALLEGIANT’S large
portfolio of prospective exploration properties, ALLEGIANT will assess its future plans for Monitor Hills.
ALLEGIANT plans drilling at a total of six "discovery potential" projects located principally in the world-
class gold mining jurisdiction of Nevada. The drilling campaign was initiated at the Red Hills project in
August 2018; Adularia Hill was the 5th project to be drilled.
Adularia Hill is located within ALLEGIANT's Eastside claim block, about 12 km south of the Original Zone
gold deposit, approximately 2 km north of the past producing open -pit-heap-leach Boss Mine, and
some 2 km north of Castle, which hosts an historical gold resource. The Adularia Hills target was
discovered during geologic and alteration mapping by ALLEGIANT followed by surface sampling of
outcrop and float. ALLEGIANT collected 150 surface samples in an ovoid area about 1,400 meters by
850 meters. Thirty of the 140 samples contained gold values ranging from 0.1 to a maximum of 1.5 g/t
gold. Gold occurs in and along structures and silica ribs with associated stockworks of quartz and
adularia veining. The mineralized structures cut Tertiary andesite, tuffs, rhyolite plugs and flow domes,
and Ordovician basement rocks. Outcrops make up about 20 -30% of the target area with the rest
covered by shallow alluvium.
There was no previous drilling at Adularia Hill.
Qualified Person
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional
Geologists and is a Qualified Person as defined under National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects. Mr. Wallace has reviewed and approved the technical content of this
press release.
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
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About ALLEGIANT
ALLEGIANT owns 100% of 11 highly-prospective drill-ready gold projects in the United States, 8 of which
are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT is one of the most active explorers
in the gold sector; five projects with "discove ry potential" have been drilled since August 2018.
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", "target", "may", "could", "would",
"might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regardi ng
an outlook. Forward-looking statements in this and other press releases include, but are not limited to statements and information
regarding: Allegiant's property holding costs savings or income generated from optioning out certain properties; Allegiant's drilling
and exploration 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 mineraliza tion that is
amenable to heap leaching; Allegiant's plans for growth through exploration activities, acquisitions or otherwise; and expectations
regarding future maintenance and capital expenditures, working capital requirements; and Barrian's plan to comp lete 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 reliance on forward -looking statements contained in this press release. Some o f 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 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, exce pt as
otherwise required by applicable law.