Columbus Gold Spinout ALLEGIANT Begins Trading on the TSX Venture Exchange
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Columbus Gold Corp.
1090 Hamilton Street
Vancouver, B.C V6B 2R9
Canada
Phone: +1 (604) 634-0970
Fax: +1 (604) 634-0971
Toll Free: 1 888 818-1364
www.columbusgold.com
ALLEGIANT Gold Ltd.
1090 Hamilton Street
Vancouver, B.C V6B 2R9
Canada
Phone: +1 (604) 634-0970
Fax: +1 (604) 634-0971
Toll Free: 1 888 818-1364
www. allegiantgold.com
NEWS RELEASE
Columbus Gold Spinout ALLEGIANT Begins Trading
on the TSX Venture Exchange
Vancouver, BC, Canada, January 30, 2018. Columbus Gold Corp . (“Columbus”) (CGT: TSX,
CBGDF: OTCQX) and Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX- V) are pleased to
announce that the common shares of Columbus’ spin- out ALLEGIANT will begin trading on the TSX
Venture Exchange at market open today, January 30, 2018, under the trading symbol “AUAU”.
“Today marks the beginning of a new and exhilarating chapter for our shareholders,” said Robert
Giustra, Chairman of ALLEGIANT and of Columbus . " ALLEGIANT’s portfolio of high- priority
gold exploration projects are in the right place, Nevada, with the right team - and for the first time in
perhaps more than a decade for gold exploration – at the right time.”
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 and historical resources of 272,153 ounces
gold2 (11,177,761 tons grading 0.82g/t gold).
ALLEGIANT’s website can be found at www.allegiantgold.com
Columbus presently owns 7,933,496 shares of ALLEGIANT , which represents 16.7% of
ALLEGIANT’s issued and outstanding common share capital. Columbus and ALLEGIANT will keep
down costs and achieve economies of scale by sharing a number of officers and key personnel, and by
splitting overhead costs. The following individuals comprise ALLEGIANT’s board and m anagement
team:
Andy Wallace – CEO
Mr. Wallace is credited with five gold mine discoveries in N evada, and is o ne of the most successful
gold explorer’s in the United States.
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Robert Giustra – Chairman
Mr. Giustra has been actively engaged in every facet of the gold exploration and mining business
for 25years and he has raised millions of dollars for junior explorers globally.
Russell Ball - Director
Mr. Ball brings extensive industry experience to ALLEGIANT having served as the Chief Financial
Officer of both Goldcorp Inc., and Newmont Mining Corporation, two of the world’s largest gold
producers.
Norm Pitcher - Director
Mr. Pitcher is a former President of Eldorado Gold, a Canadian mid- tier gold producer with a market
capitalization exceeding a billion dollars. He brings more than 30 years of mining industry experience
to ALLEGIANT.
Peter Gianulis - Director
Mr. Gianulis is the President and Managing Director of Carrelton Asset Management, an asset
management and private equity firm with a focus on the natural resource sector.
Blaine Monaghan – Vice President, Corporate Development
Mr. Monaghan has over 15 years of experience working with mineral exploration and development
companies and has a track record of creating shareholder value.
Andrew Yau - CFO
Mr. Yau has over 10 years of experience working with TSX and TSX Venture Exchange listed
companies focused on the natural resources sector.
Warren Beil - Vice President, Legal & Corporate Secretary
Mr. Beil is a practicing corporate and securities lawyer skilled in advising companies operating in the
mining and natural resource sectors.
Jorge Martinez - Vice President, Communications & Technology
Mr. Martinez has over 20 years of experience in business management and corporate communications,
with a focus on the natural resources sector.
Mr. Miro Reba and Mr. Graham Taylor, who played instrumental roles during the important formative
stage of privately held ALLEGIANT, have resigned from the board of directors. The respective
boards of Columbus and ALLEGIANT would like to thank Messrs. Reba and Taylor for their
contributions in achieving ALLEGIANT’s public listing.
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.
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ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman
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 Exc hange)
accepts responsibility for the adequacy or accuracy of this release.
1 For more information, see the NI 43-101 technical r eport 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 James 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 recently reviewed by Andy B. Wallace for the purpos e 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 from Cordex Exploration Co., Kennecott Exploration, H ouston
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 Greyb eck’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 qualifie d 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 en titled
“Columbus Acquires Claims Hosting a Historical Estimate of 272,000 Ounces of Gold R esources 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 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 w ords 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 Gold Ltd.’s (“A llegiant”)
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 expenditures, and working capital
requirements. Such f orward-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 resul ts, 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 result s to differ
materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in either
Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange or the Annual Information For m of
Columbus Gold Corp. (“Columbus”), both documents available on SEDAR under either Allegiant’s or Columbus’ 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.