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ALLEGIANT to Webcast Live at OTCQX Metals & Mining Virtual Investor

Marketing Announcement

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NEWS RELEASE

ALLEGIANT to Webcast Live at OTCQX Metals & Mining Virtual Investor

Conference on May 6, 2020 at 11:30 a.m. ET

Reno, Nevada, May 4, 2020, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX-V) (AUXXF: OTCQX) is

pleased to announce that it will be presenting at the OTC Markets Metals & Mining Virtual Investor

Conference on May 6, 2020 at 11:30 a.m. ET (8:30 a.m. PT). Information on registering and

participating can be found below:

DATE: Wednesday, May 6th

TIME: 11:30am ET, 8:30 am. PT

LINK: https://tinyurl.com/MayResourceVIC-PR

This will be a live, interactive online event where investors are invited to ask the Company questions in

real-time. If attendees are not able to join the event live on the day of the conference, an archived

webcast will also be made available after the event.

It is recommended that investors pre-register and run the online system check to expedite participation

and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com.

ABOUT ALLEGIANT

ALLEGIANT owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are

located in the mining-friendly jurisdiction of Nevada. Three of ALLEGIANT’s projects are farmed-out,

providing for cost reductions and cash-flow. ALLEGIANT's flagship, district-scale Eastside project hosts

a large and expanding gold resource 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.

ON BEHALF OF THE BOARD,

Peter Gianulis

President & CEO

For more information contact:

Allegiant Gold Ltd.

1090 Hamilton Street

Vancouver, BC V6B 2R9, Canada

www.allegiantgold.com

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Investor Relations

(604) 634-0970 or

1-888-818-1364

[email protected]

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 regarding an outlook. Forward-looking statements in this and other

press releases include, but are not limited to statements and information regarding: the evaluation of options to form a new

exploration team or related M&A; Allegiant's property holding costs savings or income generated from optioning out certain

properties; Allegiant's drilling and exploration plans for its properties, including farming out, anticipated costs, updating

resource estimates and timing thereof and resulting increase of resources, if any; Allegiant's plans for growth through

exploration activities, acquisitions or otherwise; and expectations regarding future cost savings, maintenance and capital

expenditures, 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 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, 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, except as otherwise required by applicable law.