Andy Wallace Appointed to Allegiant’s Board of Directors

VANCOUVER, British Columbia, July 21, 2020 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX-V, AUXXF: OTCQX) is pleased to announce the appointment of Andy Wallace to its Board of Directors effectively immediately.

Mr. Wallace is the Principal of Cordex Exploration, considered by many in the mining industry to be one of the most successful gold exploration groups in the United States. Cordex is credited with an unprecedented nine gold discoveries in Nevada, a number of which were under Mr. Wallace’s management, including the 5-million-ounce Marigold Mine, the 12 million-ounce Stonehouse/Lone Tree Mine, and the Daisy Mine. Mr. Wallace was also involved in the discovery of the Sterling Mine and of the Dee Mine.

Mr. Wallace’s experience in the gold mining industry includes every aspect of mineral exploration and mine development. At his Marigold discovery, and also at the Pinson and Dee mines in Nevada, Mr. Wallace directed or was involved in resource delineation and expansion, engineering and feasibility studies, permitting, mine construction, and production activities. Both Pinson and Dee were Cordex discoveries, and in the late-1970s, Pinson alone accounted for 7% of all U.S. domestic and gold production.

“We are very pleased to welcome our former CEO back to our team as a member of the Board of Directors,” commented Peter Gianulis, CEO of Allegiant Gold. “Andy has a long history in the mining and exploration sector, particularly in Nevada. His track-record of achievements is truly second-to-none. Andy also has a long history working with Allegiant having personally selected and led all of our projects since our founding. We are looking forward to his leadership at the Board-level, particularly as activity at Eastside is set to dramatically increase over the coming months,” added Mr. Gianulis.

ABOUT ALLEGIANT
ALLEGIANT owns 100% of 9 highly-prospective gold projects in the United States, 6 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. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

Further information regarding ALLEGIANT can be found at www.allegiantgold.com

ON BEHALF OF THE BOARD,

Peter Gianulis
Chief Executive Officer

For more information contact:

Investor Relations
+1 (786) 252-4948
[email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are not limited to statements and information regarding the timing of, or amount of, work activity or drilling at Allegiant Gold Ltd.’s (“Allegiant”) Eastside property. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.