ALLEGIANT Reports Commencement of Drilling at its Monitor Hills Gold Project
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NEWS RELEASE
ALLEGIANT Reports Commencement of Drilling at its
Monitor Hills Gold Project
Vancouver, BC, Canada, January 29, 2019, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX -V)
(AUXXF: OTCQX) is pleased to report that drilling has commenced at its Monitor Hills gold project in
Nevada. 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; Monitor Hills is th e
4th project to be drilled.
Monitor Hills is 100% owned by ALLEGIANT and is located approximately 35km east -southeast of
Tonopah, Nevada. ALLEGIANT began drilling at Monitor Hills in late January 2019; 10 -12 rotary drill
holes, totaling up to 2,150 met ers are planned. Drilling is focused on geochemical gold anomalies
determined by surface sampling.
ALLEGIANT performed detailed geologic mapping, completed grid geochemical surveys, and collected
over 250 samples of outcrop and float at Monitor Hills. Surface sampling identified eight new target
areas where gold values in outcrop exceed 1 g/t gold. Several gold anomalies (values from 20 -245
ppb gold) were identified in mostly covered areas that are up to 300 metres long and 100 metres
wide.
The target at Monitor Hills is Carlin-type gold mineralization in Cambrian and Ordovician sedimentary
rocks. Gold occurs in replacement silicification (jasperoid) of carbonate rocks, or along iron -stained
fault zones. The mineralized faults trend mainly north, b ut northeast and northwest trending
structures are also mineralized. A buried Tertiary diorite intrusive body, believed to be shallow under
blow sand and sand dunes, occurs just west and southwest of the claim block.
A geology map showing the location of proposed drill sites can be viewed at the following link:
www.allegiantgold.com/nr/2019-01-29-map.pdf
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.
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
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ABOUT ALLEGIANT
ALLEGIANT owns 100% of 12 highly -prospective drill -ready gold projects in the United States, 9 of
which are located in the mining -friendly jurisdiction of Nevada. ALLEGIANT is one o f the most active
explorers in the gold sector; three projects with “discovery” potential have been drilled since August
2018, and at least four more are planned to be drilled in 2019. 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
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 f uture
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", "targe t",
"may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outco mes
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 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 transportation of mineralized fragments, including the discovery of the source of the mineralized breccia fragmen ts;
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 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 p lace 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 s ections 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 f rom those anticipated in such statements. Allegiant undertakes no obligation to update or revise any
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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.
www.allegiantgold.com
PROPOSED DRILL SITES
MONITOR HILLS PROJECT, NEVADA