ALLEGIANT Completes Drilling at Monitor Hills and Commences Drilling at Adularia Hill
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NEWS RELEASE
ALLEGIANT Completes Drilling at Monitor Hills and
Commences Drilling at Adularia Hill
Vancouver, BC, Canada, February 26, 2019, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX -V)
(AUXXF: OTCQX) is pleased to report that it has completed drilling at its Monitor Hills gold project
located in Nevada. ALLEGIANT completed 15 RC holes totaling 2,535 meters at Monitor Hills ; assays
are pending.
ALLEGIANT also reports that it has commenced drill ing at Adularia Hill, located 48 km west of
Tonopah, Nevada. Fourteen (14) drill holes totaling 2,545 meters are planned.
ALLEGIANT is drilling a total of six “ discovery potential” projects located principally in the world -class
gold mining jurisdiction of Nevada, over a 10 -12-month period to approximately June 2019. The
drilling campaign was initiated at the Red Hills project in August 2018; Adularia Hill is 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 an desite, 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 is 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 a nd approved the technical content of this
press release.
ABOUT ALLEGIANT
ALLEGIANT owns 100% of 12 highly -prospective drill -ready gold projects in the United States, 9 of
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC, V6B 2R9, Canada
www.allegiantgold.com
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which are located in the mining -friendly jurisdiction of Nevada. ALLEGIANT is one o f the most active
explorers in the gold sector; four projects with “discovery potential ” have been drilled since August
2018, and several more may be drilled in 2019. ALLEGIANT’s flagship Eastside project hosts a large
and expanding gold resource, is dist rict scale, and is located in an area of excellent infrastructure.
Preliminary metallurgical testing indicates that both oxide and sulphid e 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
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 meanin g
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 conditi ons 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", "b udget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target",
"may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outco mes
or statements regard ing 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 an d
the related transporta tion 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 otherwi se; and expectations regarding future maintenance and capital expenditures, working capital
requirements; and Barrian's plan to complete an initial public offering and its acquisition of certain properties. Such forwa rd-
looking statements are based on a nu mber 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 of the known risks and other factors which could cause actual
results to differ materially from those expressed in the forwar d-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 circ umstances should change, except as otherwise required
by applicable law.