Mr. Peter Gianulis of Allegiant reports

DRILLING COMMENCES AT ALLEGIANT'S BOLO PROPERTY

Drilling has commenced at Allegiant Gold Ltd.'s 100-per-cent-owned, Carlin-style, Bolo gold project in Nevada.

The program is being carried out by New Placer Dome Gold Corp. (formerly Barrian Mining Corp.), which can earn an initial 50.01-per-cent interest in Bolo by making share payments to Allegiant totalling $1-million (U.S.) and completing $4-million (U.S.) in exploration expenditures.

"Bolo is an exciting emerging discovery located in one of the greatest mining jurisdictions in the world. We are thrilled that the initial drill program was expanded and commenced ahead of schedule," commented Peter Gianulis, chief executive officer of Allegiant.

An initial 12 high-priority RC drill holes totalling 3,500 metres will target the Mine fault and other mineralized structures that host the South Mine fault, Uncle Sam and Norther extension.

According to New Placer Dome:

Drilling at Bolo will focus on testing Carlin-style gold mineralization at depth in the South mine fault zone where gold-silver mineralization remains open and untested along strike and at depth. The 2020 program will expand and step out on results from the 2019 program (see New Placer Dome news release dated Nov. 7, 2019, available on SEDAR) including:

• 84 metres of 1.37 grams per tonne gold in hole BL19-011;
• 122 metres of 1.2 g/t gold in hole BL19-04;
• New discovery of 12.2 metres of 3.32 g/t gold in hole BL19-04.

The 2020 program will also test the continuity of mineralization between the South mine fault zone and Uncle Sam silver zone, where a 2019 outcrop sample yielded 3.63 g/t gold with 262 g/t silver.

The combined 2019 and historical RC drilling at Bolo defines a 1.2-kilometre north-south-trending corridor of gold-silver mineralization containing the South mine fault zone, Uncle Sam and Northeast extension zones. Gold mineralization at Bolo exhibits characteristics of classic Carlin-type mineralization, including strong subvertical structural control in addition to evidence of gold mineralization extending laterally at low angles within favourable silty carbonate units. The relatively untested 500 m strike length South mine fault-Uncle Sam segment is particularly prospective and is the main focus of New Placer Dome's 2020 exploration designed to prove out these compelling structural and stratigraphic gold targets.

About Allegiant Gold Ltd.

Allegiant owns 100 per cent of nine highly prospective gold projects in the United States, six of which are located in the mining-friendly jurisdiction of Nevada. Two 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.

About New Placer Dome Gold Corp.

New Placer Dome Gold is a gold exploration company focused on acquiring and advancing gold projects in Nevada. New Placer Dome's flagship Kinsley Mountain gold project, located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont/Barrick joint venture), hosts Carlin-style gold mineralization, previous run of mine heap leach production, and National Instrument 43-101 indicated resources containing 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes).

Qualified person

The scientific and technical information contained in this news release as it relates to the Bolo gold project has been reviewed and approved by Kristopher J. Raffle, PGeo (B.C.), principal and consultant of Apex Geoscience Ltd. of Edmonton, Alta., a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.

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