Mr. Peter Gianulis reports

ALLEGIANT GOLD LTD. ANNOUNCES NAME CHANGE AND REBRANDING TO A2 GOLD CORP.

Allegiant Gold Ltd. has changed its name and rebranded to A2 Gold Corp., reflecting the company's emergence as a leading gold explorer in the state of Nevada. The company is embarking on a new and exciting chapter in the future development of its flagship Eastside project in the prolific Walker Lane trend following the raising of $14-million in equity capital over the past three months. The company has delineated 1.4 million ounces of inferred gold resources and 8.8 million ounces of silver* so far, and is targeting an increase in the near term through an aggressive, multiphase drill program.

Peter Gianulis, chief executive officer, commented: "We are driving forward a new era of growth for the company. Our new name, A2 Gold, reflects this exciting chapter unfolding. With the recent closing of our $10.5-million financing, including a lead investment by Kinross Gold Corp., we are looking forward to commencing an 18,000-to-20,000-metre diamond core and RC drill program along with a large-scale geophysical and structural mapping initiative. Kinross is our cornerstone shareholder and strategic exploration partner, and the aim of the current campaign is to expand our existing resource and to target high-grade extensions and new discovery zones."

The name change to A2 Gold is under way and it is expected to take effect very soon following TSX Venture Exchange approval. The company will keep its existing ticker symbols, namely AUAU, on the TSX-V and AUXXF on the OTCQX. No action is required to be taken by shareholders with respect to the name change. Outstanding common share and warrant certificates bearing the old name of the company are still valid and are not affected by the name change. The company will publicly announce the definitive date for the name change once known.

* Source: "Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada," conducted by Mine Development Associates, of Reno, Nev., with an effective date of July 30, 2021 (pit-constrained inferred resources (cut-off grade of 0.15 gram per tonne (g/t) gold (Au)) of 61,730,000 tonnes grading 0.55 g/t Au and 4.4 g/t silver (Ag) at the original pit zone (1,090,000 ounces gold and 8.7 million ounces silver) and 19,986,000 tonnes grading 0.49 g/t Au at the Castle area (314,000 ounces gold)). A copy of the Eastside technical report can be found on SEDAR+.

Allegiant retains Peak Investor Marketing Corp.

The company is pleased to announce that it has retained the services of Peak a full-service marketing and consulting services firm, focused on growth-stage mining companies. Peak brings over two decades of experience, focused exclusively on the resource sector.

Peak is an independent arm's-length entity, and will assist A2 Gold with marketing strategy and planning, corporate communications and content development, with the goal of increasing market awareness of the company.

Under the terms of the agreement, the company will compensate Peak $12,000 per month for a 12-month term. The company will also issue Peak, subject to TSX-V approval, 400,000 stock options, which are exercisable at 83 cents per share for a period of 24 months, subject to vesting provisions over 12 months.

About Allegiant Gold Ltd.

Allegiant owns three 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. Less than 20 per cent of the property has been explored with potential to significantly increase the existing inferred resource. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

We seek Safe Harbor.