ALLEGIANT Provides Update on Bolo Gold Project
Page 1 of 3
NEWS RELEASE
ALLEGIANT Provides Update on Bolo Gold Project
Vancouver, BC, Canada, February 5, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX -V) is pleased to
provide an update on its 100% owned Bolo gold project located 90 km northeast of Tonopah, Nevada.
Gold mineralization at Bolo is Carlin -type, similar to Pinson, Lone Tree/Stonehouse, and Turquoise
Ridge/Getchell, all multimillion ounce producers, where gold spreads into wall rocks along high -angle
structures. Surface sampling at Bolo has defined wides pread gold mineralization, associated with
jasperoids and iron -stained structures, along two parallel north -south trending faults known as the
Mine Fault and the East Fault. Alteration along the Mine Fault has been traced for 2,750 metres, with
outcrop sampling returning gold values up to 8.6 g/t gold. The East Fault has been mapped for 2,200
metres and has returned gold values up to 4.7 g/t gold.
The Mine Fault and the East Fault and dozens of altered outcropping and buried cross -faults at Bolo
have had very limited drilling and represent excellent exploration targets. An exploration target map
can be found at the following link:
www.allegiantgold.com/site/assets/files/3144/2018-02-05-targets.pdf
A multi-phase reconnaissance drilling program designed to identify the altered structures on the large
Bolo project with the best potential to host good grade pods of Carlin-type gold mineralization is
ongoing. Two such pods have been identified so far , and as more pods are uncovered, the focus will
eventually shift to definition drilling to establish potential for resources.
In the summer of 2017, one of the many previously undrilled areas at Bolo was targeted with a
modest 14-hole reverse-circulation reconnaissance drilling program totaling 2,806 metres. Eleven
(11) holes tested the newly acquired Uncle Sam patented claim that covers a 500 metre strike
extension of the south zone of the Mine Fault , an area that was previously drilled with e xcellent
results, including hole BL-38 which returned 133 metres of 1.28 g/t gold from the surface (including
30.5 m etres o f 3.24 g/t gold), hole BL -39 which returned 89.9 metres of 1.0 g/t gold from surface
(including 40.9 m etres of 2.05 g/t gold), and hole BL -41 which returned 51.8 metres of 1.27 g/t gold
from surface. Drilling on Uncle Sam in 2017 returned 19.8 metres of 0.97 g/t gold (hole BL-55), 33.5
metres of 0.96 g/t gold from surface (hole BL-61), and 57.9 metres of 41.13 g/t silver from the surface
(including 7.6 metres of 220 g/t silver) (hole BL-54).
In addition to drilling on Uncle Sam, three (3) holes of the 2017 campaign were drilled to test
extensions of the Mine Fault to the west and north. Hole BL-65 was drilled approximately 200 metres
north of BL -61 and returned 16.8 metres of 0.66 g/t gold. A table of all previous drilling results at
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
Page 2 of 3
Bolo, including significant historical results, 2007 to 2013 drill results, and ALLEGIANT’s 2017 results
(holes BL-54 to BL-67) can be found at the following link:
www.allegiantgold.com/site/assets/files/3144/2018-02-05-table.pdf
A drill plan of the 2017 drilling program can be found at the following link:
www.allegiantgold.com/site/assets/files/3144/2018-02-05-drillplan.pdf
ALLEGIANT is planning additional reconnaissance drilling at Bolo in 2018. Bolo is just one of 10 gold
projects that ALLEGIANT plans to drill in 2018, including ALLEGIANT's material Eastside project, where
a drill program focused on resource expansion is currently underway.
Further information regarding ALLEGIANT’s projects can be found at www.allegiantgold.com
Qualified Person
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professi onal
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.
About ALLEGIANT
ALLEGIANT is led by CEO Andy Wallace, who is credited with discovering a number of multi -million-
ounce gold mines in Nevada. ALLEGIANT owns 14 highly -prospective drill-ready gold projects in the
United States, 11 of which are located in the mining -friendly jurisdiction of Nevada, and has
announced plans to drill 10 projects in 2018, including the Eastside gold project. A drill program is
currently underway at Eastside and is focused on resource expansion at the Original Zone, an area
within Eastside, which hosts a pit -constrained inferred resource totaling 721,000 gold equivalent
ounces1(35,780,000 tons grading 0.63g/t gold equivalent). In addition to the Original Zone deposit,
Eastside hosts numerous additional exploration targets an d historical resources of 272,153 ounces
gold2 (11,177,761 tons grading 0.82g/t gold).
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.
Page 3 of 3
1 For more information, see the NI 43 -101 technical report entitled “Resource Estimate and NI 43 -101 Technical Report,
Eastside and Castle Gold -Silver Project, Esmeralda County, Nevada” prepared by Steven J. Ristorcelli CPG of Mine
Development Associates for Allegiant Gold Ltd. with an Effective Date of July 25, 2017, dated September 1, 2017, and filed
on SEDAR under the profile of Allegiant Gold Ltd. on January 24, 2018.
2 The historical resource estimate for the Eastside gold project was completed by Jame s D. Greybeck, Senior Geologist for
Cordex Exploration Co. in April, 1999, under the direction of Andy B. Wallace, then Manager of Cordex Exploration Co. and
Vice President of Rayrock Mines, Inc. This report and data used in its preparation has been recent ly reviewed by Andy B.
Wallace for the purpose of this press release under his obligations a Qualified Person as defined under NI 43 -101 who has
reviewed and approved the technical contents of this press release. Drill data used for Greybeck’s report was f rom Cordex
Exploration Co., Kennecott Exploration, Houston Oil and Minerals, Falcon Exploration, and Mintek Resources which data is
on file in the offices of Cordex Exploration Co. The data is judged relevant and reliable by Andy B. Wallace. The resource
was termed a “Geologic Resource” at the time of Greybeck’s report, which was in line with current practice for the time.
Mr. Greybeck prepared geological cross sections and calculated the resource by hand, using a polygonal method with a
lower cut-off of .005 opt Au (0.17 g/t Au). Where drilling was closely spaced gold values were interpolated between cross
sections using weighted averages projected 50 feet on either side of the cross section. A qualified person has not
performed sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The Company
is not treating the historical estimate as current mineral resources or mineral reserves. For more information, see news
releases entitled “Columbus Acquires Claims Hosti ng a Historical Estimate of 272,000 Ounces of Gold Resources
Contiguous with its Eastside Gold Project in Nevada” dated and filed under the profile of Columbus Gold Corp. on SEDAR
on January 20, 2017.
Forward Looking Statements
Certain statements and i nformation 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 coll ectively 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 event s, 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 simi lar 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 information regarding: Allegiant
Gold Ltd.’s (“Allegiant”) 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. 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 ach ievements, 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 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 Ven ture 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, except as otherwise required
by applicable law.
Bolo Property Boundary
4,267,000N
554,000E
555,000E
4,266,000N
4,265,000N
East
Fault Zone
Mine
Fault Zone
UNCLE SAM PATENT
MS 38
WCEX
FNEX
NEX
SMF
NEFZ
Wood Canyon Ext. of
Mine Fault Zone
Far North Ext. of Mine Fault
Elevated trace element geochem
in altered intervals in limestone
North Extension
of Mine Fault
South Mine Fault Zone
Confirmed up-dip extension
of gold mineralization to surface
NE Fault Zone
Elevated trace
element
geochem
at contact
0 300 metres
0 1500 feet
South Mine Fault Zone
Uncle Sam Patented Claim
Drill hole BL-38:
30.5 metres of 3.24 g/t Au
Historic silver producer.
Sampling returned
up to 95 opt Ag.
Fault Zone
Fault
Previous drill hole
2017 drill hole
Section 4930N
TARGET MAP
Bolo Gold Project, Nevada
www.allegiantgold.com
Hole ID From m To m Interval m Au (g/t) From m To m Interval m Ag (g/t) Target
Area
BL-1 6.1 13.7 7.6 0.210 EFZ
BL-2 All < 0.100 SMF
BL-3 7.6 33.5 25.9 0.431 12.2 13.7 1.5 85 SMF
39.6 41.1 1.5 0.106 29 33.5 4.6 34.5
38.1 42.7 4.6 26.6
73.2 77.7 4.6 21.9
BL-4 61 79.2 18.2 1.086 77.7 79.2 1.5 12.7 SMF
83.8 85.3 1.5 0.112
BL-5 53.3 54.9 1.6 0.279 SMF
70.1 74.7 4.6 0.141 73.2 77.7 4.6 48.8
105.2 111.3 6.1 13.8
BL-6 All < 0.100 All < 10 SMF
BL-7 0 1.5 1.5 0.104 All < 10 EFZ
BL-8 1.5 3 1.5 0.117 All < 10 EFZ
38.1 41.1 3 0.126
BL-9 114.3 115.8 1.5 0.371 All < 10 EFZ
BL-10 38.1 47.2 9.1 0.297 All < 10 EFZ
BL-11 10.7 12.2 1.5 0.104 All < 10 SMF
21.3 27.4 6.1 0.231
105.2 111.3 6.1 0.332
118.9 135.6 16.7 0.611
incl 120.4 125 4.6 1.681
BL-12 67.1 74.7 7.6 0.214 70.1 71.6 1.5 11.7 SMF
BL-13 0 4.6 4.6 0.147 SMF
64 65.5 1.5 0.108
88.4 97.5 9.1 0.135 88.4 89.9 1.5 14
BL-14 131.1 137.2 6.1 0.140 SMF
BL-15 89.9 91.4 1.5 0.222 All < 10 SMF
BL-16 121.9 123.4 1.5 0.245 123.4 125 1.5 15.5 EFZ
BL-17 All < 0.100 97.5 99.1 1.5 10.1 EFZ
BL-18 All < 0.100 All < 10 NEFZ
BL-19 44.2 45.7 1.5 0.140 All < 10 NEFZ
BL-20 All < 0.100 All < 10 EFZ
BL-21 All < 0.100 All < 10 EFZ
BL-22 30.5 32 1.6 0.164 All < 10 SMF
41.1 44.2 3 0.280
No significanInt tercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
BOLO GOLD PROJECT, NEVADA
Significant Gold and Silver Intercepts
2018-02-05
Hole ID From m To m Interval m Au (g/t) From m To m Interval m Ag (g/t) Target
Area
BL-23 4.6 12.2 4.6 0.119 SMF
36.6 38.1 1.5 0.156
77.7 153.9 76.2 1.152
incl 77.7 96 18.3 0.414
incl 96 126.5 30.5 2.376 100.6 121.9 21.3 20.2
incl 126.5 132.6 6.1 0.167
incl 138.7 153.9 15.2 0.414
BL-24 146.3 167.6 21.3 0.147 All < 10 SMF
172.2 173.7 1.5 0.104
BL-25 All < 0.100 All < 10 EFZ
BL-26 114.3 118.9 4.6 0.154 All < 10 EFZ
BL-27 All < 0.100 All < 10 EFZ
BL-28 All < 0.100 All < 10 SMF
BL-29 47.2 109.7 62.5 0.647 71.6 109.7 38.1 27 SMF
incl 47.2 50.3 3 0.754 86.9 91.4 4.6 106.4
incl 50.3 54.9 4.6 1.717
incl 54.9 77.7 22.9 0.440
incl 77.7 80.8 3 3.409
incl 80.8 109.7 29 0.340
120.4 121.9 1.5 0.840
BL-30 123.4 125 1.5 10 SMF
BL-31 109.7 114.3 4.6 1.025 115.8 117.3 1.5 11.7 SMF
BL-32 94.5 111.3 16.8 13.3 SMF
67.1 118.9 51.8 0.813
incl 67.1 70.1 3 2.284
incl 91.4 100.6 9.2 1.910
incl 100.6 118.9 18.3 0.672
BL-33 All < 10 SMF
incl 117.3 120.4 3.1 0.344
BL-34 All < 10 WCEX
BL-35* 0 3 3 0.380 47.2 56.4 9.2 30 SMF
29 32 3 0.200 59.4 62.5 3.1 24
42.7 144.8 102.1 0.600 125.0 129.5 4.5 23
incl 42.7 45.7 3 2.810 140.2 144.8 4.6 21
incl 42.7 50.3 7.6 1.710
incl 115.8 132.6 16.8 1.530
incl 140.2 141.7 1.5 1.160
BL-36* 35.1 42.7 7.6 0.750 36.6 48.8 12.2 25 SMF
incl 35.1 38.1 3 1.690
BL-37* 18.3 30.5 12.2 0.670 25.9 32.0 6.1 36 SMF
88.4 99.1 10.7 0.830 45.7 50.3 4.6 20
123.4 153.9 30.5 0.970 125.0 160.0 35.0 58.1
incl 123.4 125 1.6 2.490 incl.
138.7 141.7 3.0 360.5
BL-38* 0 132.6 132.6 1.280 45.7 48.8 3.1 15 SMF
incl 44.2 74.7 30.5 3.240 57.9 68.6 10.7 32
incl 54.9 68.6 13.7 5.080 93.0 99.1 6.1 38.0
incl 88.4 100.6 12.2 3.050 126.5 129.5 3.0 18
incl 115.8 117.3 1.5 6.660 144.8 146.3 1.5 68.3
BL-39* 0 89.9 89.9 1.060 1.5 18.3 11.8 17.1 SMF
incl 0 40.9 40.9 2.050 29.0 39.6 1.5 22.8
incl 0 13.7 13.7 3.260 47.2 50.3 3.1 28.1
62.5 70.1 7.6 61
94.5 97.5 3.0 57
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
Hole ID From m To m Interval m Au (g/t) From m To m Interval m Ag (g/t) Target
Area
BL-40* 68.6 71.6 3.0 158 SMF
76.2 83.8 7.6 13.2
BL-41* 0 51.8 51.8 1.270 7.6 16.8 9.2 20 SMF
incl 9.1 16.7 7.6 2.560 24.4 29.0 4.6 11
incl 21.3 38.1 16.8 2.150 48.8 62.5 13.7 18.5
incl 21.3 30.5 9.2 2.700 incl. 54.9 57.9 3.0 32.6
54.9 64 9.1 0.210
80.8 94.5 13.7 0.210
132.6 135.6 3 0.140
BL-42* 0 32 32 0.690 6.1 27.4 21.3 17.8 SMF
incl 6.1 12.2 6.1 2.870 incl. 12.2 16.8 4.6 31.5
57.5 60.9 3.4 0.370 94.5 99.1 4.6 30
126.5 147.8 21.3 0.550 146.3 150.9 4.6 21
163.1 164.6 1.5 41.3
BL-43* 84.8 98.5 13.7 0.140 7.6 9.1 1.5 23 NEZ
BL-44* 130.3 133.3 3 0.730 141.7 143.3 1.6 22 NEZ
163.6 165.2 1.6 1.240 164.6 166.1 1.5 12
BL-45* 65.5 76.2 10.7 15 NEZ
BL-46* 150.9 161.5 10.6 29 NEZ
incl.
153.9 157.0 3.1 53
BL-47 All < 10 FNEX
BL-48 All < 10 FNEX
BL-49 All < 10 FNEX
BL-50 All < 10 FNEX
BL-51 All < 10 NEFZ
BL-52 All < 10 NEFZ
BL-53 All < 10 NEFZ
BL-54 4.6 6.1 1.5 0.15 0 57.9 57.9 41.13 SMF
18.3 19.8 1.5 0.200 incl. 35.1 42.7 7.6 220
35.1 45.7 10.7 0.650 incl. 36.6 38.1 1.5 423.1
incl 36.6 38.1 1.5 1.990 106.7 117.3 10.7 23.21
51.8 57.9 6.1 0.270 incl.
108.2 109.7 1.5 57.26
138.7 141.7 6.1 12.92
incl 80.8 109.7 29 0.340 149.4 160 10.7 19.01
120.4 121.9 1.5 0.840 184.4 187.5 3 8.70
190.5 192 1.5 7.31
205.7 207.3 1.5 6.90
213.4 216.4 3.0 9.50
224 225.6 1.5 7.88
BL-55 44.2 64.0 19.8 0.970 24.4 25.9 1.5 10.92 SMF
incl 44.2 45.7 1.5 0.970 30.5 33.5 3.0 28.62
incl 51.8 54.9 3.0 3.230 44.2 45.7 1.5 16.60
68.6 70.1 1.5 0.120 51.8 68.6 16.8 37.90
incl. 51.8 54.9 3.0 102.07
79.2 80.8 1.5 10.55
93 96 3.0 13.19
134.1 135.6 1.5 22.10
BL-56 62.5 64 1.5 0.33 10.7 12.2 1.5 9.39 SMF
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
No significant Intercepts
Hole ID From m To m Interval m Au (g/t) From m To m Interval m Ag (g/t) Target
Area
93.0 100.6 7.6 0.470 62.5 64.0 1.4 21.43
111.3 114.3 3.0 0.28 91.4 103.6 12.2 9.45
BL-57 7.6 10.7 3.0 0.200 0 22.9 22.9 36.15 SMF
32.0 36.6 4.6 0.150 incl. 7.6 9.1 1.5 78.83
42.7 56.4 13.7 0.660 incl. 12.2 16.8 4.6 113.25
incl 53.3 54.9 1.5 3.080 30.5 83.8 53.3 49.74
67.1 68.6 1.5 0.160 incl. 51.8 53.3 1.5 70.19
73.2 79.2 6.1 0.590 incl. 74.7 79.2 4.6 216.52
100.6 103.6 3.0 28.5
BL-58 0 3 3.0 8.1 SMF
BL-59 103.6 117.3 13.7 0.200 140.2 143.3 3.0 11.96 SMF
BL-60 18.3 38.1 19.8 0.650 22.9 24.4 1.5 11.18 SMF
incl 21.3 24.4 3.0 2.650 100.6 103.6 3.0 30.78
99.1 103.6 4.6 0.150 112.8 114.3 1.5 8.31
227.1 236.2 9.1 0.240 150.9 153.9 3.0 32.8
239.3 240.8 1.5 0.150 219.5 221.0 1.5 7.72
243.8 245.4 1.5 0.130 227.1 153 25.9 22.43
263.7 265.2 1.5 0.150 263.7 265.2 1.5 24.56
272.8 274.3 1.5 0.100 269.7 281.9 12.2 8.53
BL-61 3.0 36.6 33.5 0.960 18.3 27.4 9.1 8.94 SMF
incl 24.4 27.4 3.0 3.730 135.6 137.2 1.5 25.60
150.9 152.4 1.5 0.100 164.6 176.3 12.2 9.22
160.0 170.7 10.7 0.180 182.9 198.1 15.2 54.15
187.5 196.6 9.1 0.210 incl.
189.0 192.0 3 126.4
236.2 237.7 1.5 0.140 214.9 216.4 1.5 8.06
BL-62 SMF
BL-63 10.7 16.8 6.1 0.110 164.6 166.1 1.5 8.47 SMF
204.2 207.3 3.0 0.270
BL-64 0.0 1.5 1.5 0.100 10.7 21.3 10.6 15.02 USC
9.1 21.3 12.2 0.190 137.2 143.3 6.1 15.23
152.4 157.0 4.6 0.220 153.9 155.4 1.5 10.06
202.7 211.8 9.1 43.64
incl.
207.3 208.8 1.5 124.57
BL-65 0.0 1.5 1.5 0.120 10.7 12.2 1.5 9.63 USC
4.6 6.1 1.5 0.110 39.6 41.1 1.5 10.18
24.4 41.1 16.8 0.660 125.0 128.0 3.0 10.60
incl 32.0 36.6 4.6 1.910 181.4 187.5 6.1 29.08
79.2 80.8 1.5 0.220 214.9 216.4 1.5 7.74
217.9 219.5 1.5 0.200 217.9 219.4 1.5 7.10
225.6 227.1 1.5 0.420
BL-66 146.3 147.8 1.5 0.140 146.3 149.4 3.0 10.10 SMF
195.1 196.6 1.5 21.00
204.2 205.74 1.5 7.75
213.4 219.5 6.1 12.02
BL-67 18.3 22.9 4.6 0.110 79.2 80.8 1.5 14.99 USC
76.2 89.9 13.7 0.210
No significant Intercepts
No significant Intercepts