Mr. Robert Giustra reports

GOLDCORP TO MAKE STRATEGIC INVESTMENT IN ALLEGIANT

Allegiant Gold Ltd. has arranged a non-brokered private placement to raise $4,415,605. The private placement will consist of 12,616,014 shares of Allegiant Gold at a price of 35 cents per common share.

In connection with the offering, Goldcorp Inc. is undertaking a strategic investment in Allegiant Gold. Goldcorp will purchase 5,923,819 Allegiant Gold common shares at 35 cents per share for gross proceeds to Allegiant Gold of $2,073,337. After closing, Goldcorp will own 9.99 per cent of the issued and outstanding common shares of Allegiant Gold on a non-diluted basis.

Proceeds of the offering will be used to carry out high-impact discovery exploration drill programs on six of Allegiant's high-priority exploration projects located principally in the mining-friendly jurisdiction of Nevada. Over a 10-month period, starting in August, 2018, the following six gold exploration projects will be drilled: North Brown, Red Hills, Monitor Hills, Hughes Canyon, Adularia Hill and Silver Dome.

Goldcorp and Allegiant Gold have entered into an investor rights agreement, whereby as long as Goldcorp maintains an equity interest in Allegiant Gold of 5 per cent or greater, it will have: the right to participate in future equity financings to maintain up to a 9.99-per-cent interest in Allegiant Gold, the right to receive regular updates of technical information on all Allegiant's projects, the right of first refusal to match third party offers in connection with proposed transactions on Allegiant's North Brown, Red Hills, Monitor Hills and Hughes Canyon gold projects, the right of first refusal on all of Allegiant's projects (except Eastside) to match third party offers in connection with non-equity financings, such as royalties and streams, and the right to appoint 50 per cent of a technical committee with Allegiant Gold with respect to the North Brown, Red Hills, Monitor Hills and Hughes Canyon gold projects.

Closing of the offering is anticipated to occur in July, 2018, subject to customary closing conditions, including, but not limited to, title opinions and the receipt of applicable regulatory approvals (including approval of the TSX Venture Exchange). All shares issued in connection with the offering will be subject to a four-month hold period.

Finders' fees will be payable on a portion of the offering and will consist of cash of 6 per cent of the gross proceeds received from the sale of the shares.

Fort Capital Partners acted as financial adviser (with respect to the strategic investment by Goldcorp) and as a capital markets advisor.

About Allegiant Gold Ltd.

Allegiant is led by chief executive officer Andy Wallace, who is credited with discovering a number of multimillion-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

Qualified person

Mr. 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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