Mr. Peter Gianulis reports

ALLEGIANT PROVIDES CORPORATE UPDATE

Allegiant Gold Ltd. has provided an update on its corporate strategy and exploration plans for 2025.

Peter Gianulis, chief executive officer of Allegiant Gold, commented: "We recently completed a share consolidation and announced a non-brokered private placement, and feel that it is important to provide some context to our strategy as well as provide an update on our plans for the remainder of 2025. These decisions were undertaken as we believe it very important to strengthen our capital structure and balance sheet. The last public financing to the general market was completed in 2021. Since that time, we have funded our operations via a direct investment by Kinross Gold in 2022 and the sale of certain non-core assets, specifically our Mogollon property, which afforded us with non-dilutive financing. We pride ourselves on cost discipline and low dilution while continuing to advance our projects. We have had the lowest dilution ratio of any active exploration company in our peer group by a significant margin. The proceeds from this current financing will be instrumental for us to advance our flagship project, Eastside, including conducting further geophysical studies, an in-depth structural geological study, and additional drilling at the McIntosh zone and other nearby areas. We are also exploring alternatives for our other non-core properties in the state of Nevada in order to advance these projects without incurring additional dilution."

In 2025, Allegiant's focus and strategy will be as follows:

1. Conduct further geophysical and structural studies in and around the McIntosh zone;
2. Resume drilling within the McIntosh zone to test the company's higher-grade targets;
3. Conduct additional studies and analysis on the Castle zone including the possibility of a preliminary economic assessment and other baselines studies for permitting.

Compensation securities

The company has granted 875,000 stock options to directors and officers of the company. The stock options are exercisable at 25 cents, vest over a one-year period and expire five years from the date of grant.

The company has also granted 1,025,000 restricted stock units to directors and officers of the company. The RSUs will vest over a two-year period and expire on Dec. 31, 2028.

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. One of Allegiant's projects are currently 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 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.