Mr. Peter Gianulis reports

ALLEGIANT ANNOUNCES C$7 MILLION PRIVATE PLACEMENT TO ACCELERATE DEVELOPMENT OF EASTSIDE PROJECT

Allegiant Gold Ltd. is launching a non-brokered private placement offering of up to 14 million units at a price of 50 cents per unit for gross proceeds of up to $7-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 70 cents for a period of 18 months from the date of closing of the offering.

Peter Gianulis, chief executive officer of Allegiant Gold, commented: "We are entering a transformative and unique period at Allegiant. Gold is at all-time highs with silver at a 14-year high. We are weeks away from commencing a diamond core drill program, and we continue to make progress expanding and integrating our technical team. This financing will allow us to accelerate the development of Eastside through expanded geophysics, detailed mapping, and up to 18,000 metres of additional RC and diamond core drilling. We are aiming to significantly expand our gold and silver resources and unlock additional value for our shareholders."

The net proceeds of the offering will be used to advance the company's flagship Eastside gold-silver project, including:

• A large-scale geophysics program and structural mapping initiative;
• Up to 18,000 metres of reverse circulation and diamond core drilling;
• Targeted exploration of high-grade extensions and new discovery zones;
• General corporate and working capital purposes.

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 voluntary hold period of 12 months from the date of issuance in addition to the statutory hold period of four months plus one day 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 TSX Venture Exchange.

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. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

We seek Safe Harbor.