ALLEGIANT Provides Update on High-Impact Discovery Drilling
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NEWS RELEASE
ALLEGIANT Provides Update on High-Impact Discovery Drilling
Vancouver, BC, Canada, January 1 7th, 2019, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX -V)
(AUXXF: OTCQX) reports on the progress of its high -impact discovery drilling campaign. A total of 6
projects located principally in the world -class gold mining jurisdiction of Nevada are slated for drilling
over a 10-12 month period, to approximately June 2019. Drilling commenced at the Red Hills project
in August 2018 and drilling at a third project, North Brown, was completed in December and final
assays are expected within one week. Assay results for Hughes Canyon (the second property drilled)
have now been received in full.
ALLEGIANT completed 2,139 meters of drilling in 12 rotary holes at Hughes Canyon. Hydrothermal
alteration was encountered in 10 of the 12 holes in several different stratigraphic units in a faulted
and folded Mesozoic sedimentary package. Gold and silver values above 0.10 g/t gold encountered in
the drilling are available at the following link:
www.allegiantgold.com/nr/2019-01-17-assays.pdf
Overall the drilling results at Hughes Canyon are encouraging and suggest more drilling is necessary,
however in the context of prioritizing e xpenditures on ALLEGIANT’S large portfolio of pr ospective
exploration properties, Hughes Canyon will be abandoned.
ALLEGIANT expects to resume the “discovery drilling campaign” at the 4 th project, Monitor Hills, in
about one week.
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.
ABOUT ALLEGIANT
ALLEGIANT owns 100% of 14 highly -prospective drill-ready gold projects in the United States, 11 of
which are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT’s flagship Eastside project
hosts a large and expanding gold resource, is distric t 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
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
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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.
Forward Looking Statements
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 Sec urities
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 regarding an outlook. Forward -looking
statements in this and other press releases include but are not limited to statements and information regarding
ALLEGIANT’s drilling and exploration plans and results for its properties, includin g anticipated timing thereof; and the
Eastside project’s resource expansion. 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 actu al 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
forward-looking statements are described in the sections entitled “Risk Factors” in ALLEGIANT’s Listing Application, dated
January 24, 2 018, 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, except as otherwise required by applicable
law.
HUGHES CANYON - SIGNIFICANT DRILL INTERCEPTS - 2018
Drillhole ID Meters
From
Meters
to
Feet
From
Feet
To
Thickness
Meters Au g/t Ag g/t
HUG 1 77.7 79.2 255 260 1.5 0.15 -
82.3 86.9 270 285 4.6 1.20 -
86.9 88.4 285 290 1.5 0.14 -
103.6 106.7 340 350 3.0 0.35 -
126.5 128.0 415 420 1.5 0.13 -
175.3 176.8 575 580 1.5 0.15 -
HUG 2 196.6 199.6 645 655 3.0 - 38.5
HUG 3 71.6 80.8 235 265 9.1 0.39 -
85.3 86.9 280 285 1.5 0.12 -
93.0 97.5 305 320 4.6 0.12 -
HUG 4 129.5 131.1 425 430 1.5 0.12 -
175.3 176.8 575 580 1.5 0.10 -
HUG 5 No Significant Values
HUG 6 111.3 114.3 365 375 3.0 0.18 -
HUG 7 67.1 68.6 220 225 1.5 0.28 -
76.2 77.7 250 255 1.5 0.48 -
79.2 80.8 260 265 1.5 0.29 -
102.1 105.2 335 345 3.0 0.17 -
HUG 8 36.6 38.1 120 125 1.5 0.13 -
132.6 135.6 435 445 3.0 0.20 -
HUG 9 No Significant Values
HUG 10 126.5 130.8 415 429 4.3 0.11 -
HUG 11 15.2 21.3 50 70 6.1 0.22 -
185.9 189.0 610 620 3.0 1.04 -
HUG 12 53.3 70.1 175 230 16.8 0.25 -
2019-01-17
www.allegiantgold.com