Mr. Peter Gianulis reports

ALLEGIANT GOLD ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Allegiant Gold Ltd. is launching a non-brokered private placement offering of up to 19,444,444 units at a price of 18 cents per unit for gross proceeds of up to $3.5-million. Each unit will consist of one common share and one-half of one common share purchase warrant.

Each warrant will entitle the holder to acquire an additional common share at a price of 28 cents for a period of 12 months from the date of closing of the offering, provided that in the event that the closing price of the company's common shares on the TSX Venture Exchange (or such other exchange on which the company's common shares may become traded) is 70 cents or greater per common share during any 10 consecutive trading day period at any time subsequent to four months and one day after the closing date, the warrants will expire at 4 p.m. Vancouver time on the 30th day after the date on which the company provides notice of such accelerated expiry to the holders of the warrants.

Finders' fees may be paid to qualified parties in accordance with applicable securities laws. The net proceeds from the offering will be used for general working capital.

All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation and the exchange hold period.

The offering is subject to receipt of all necessary regulatory approvals, including receiving approval from the exchange.

About Allegiant Gold Ltd.

Allegiant owns five highly prospective gold projects in the United States, all of which are in the mining-friendly jurisdiction of Nevada. Allegiant's flagship, district-scale Eastside project hosts a large and expanding gold resource, and is in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

We seek Safe Harbor.