Allegiant Gold: Promising Nevada Gold Explorer Backed by Major Player Kinross

• Allegiant Gold is a gold exploration company focused on its Eastside project in Nevada, which has 1.5 million ounces of gold resources.
• The company recently closed a $4 million investment by Kinross Gold, a major gold producer active in Nevada. This provides validation and support.
• Allegiant has all necessary permits and has secured drill rigs to start a major 12,000-15,000 meter drill program at Eastside in late March. This will test high-grade zones found at depth.
• Results from the drilling will be released steadily over the coming year as assays are returned. This should catalyze interest and share price.
• The Kinross investment funds core drilling at Eastside. Allegiant also has projects being advanced by partners (e.g. Summa Silver) and believes these will fund ongoing exploration costs.

About Allegiant Gold Corp

Allegiant Gold Corp is a gold exploration and development company focused on discovering and advancing high-grade gold projects in the mining-friendly jurisdiction of Nevada. With a portfolio of 10 projects across the state, Allegiant is led by a proven technical team aiming to build the next mid-tier gold producer.

The company's flagship asset is the Eastside gold project, located approximately 25 miles west of Tonopah, Nevada. Eastside hosts a large near-surface oxide gold deposit with an updated resource estimate of 1.35 million ounces of gold grading 0.55 g/t in the Measured and Indicated category. An additional 0.78 million ounces are classified as Inferred resources.

Interview with Peter Gianulis, President & CEO of Allegiant Gold

Major Backing from Kinross Gold

In March 2022, Allegiant announced a CA$4 million strategic investment from Kinross Gold Corporation, one of the world’s largest gold producers. Kinross' Round Mountain mine is located about 60 km northeast of Allegiant's Eastside project, providing extensive technical expertise in the region.

This deal is a strong vote of confidence in Allegiant's projects and leadership team. Kinross views Allegiant as a long-term partner in Nevada and has indicated interest in additional projects beyond Eastside. With Kinross as a supportive strategic shareholder, Allegiant is well-positioned to continue advancing its portfolio.

Upcoming 12-15,000 Meter Drill Program at Eastside

On the operations front, Allegiant is fully financed and embarking on an extensive 12,000-15,000 meter drill program at Eastside beginning in late March 2022. This drill campaign will be funded in part by the recent Kinross investment and will focus on expanding the current resource and testing for higher-grade mineralization at depth.

The current resource at Eastside is constrained within an area of around 600 acres. However, Allegiant recently received Bureau of Land Management (BLM) approval to expand its Plan of Operations, which now covers approximately 3,600 acres. This provides extensive opportunities to discover new zones and increase the overall resource base.

High-Grade Hits Show Exploration Potential

A key objective of the upcoming drill program is to follow up on exceptional high-grade hits encountered last year. In May 2021, Allegiant intersected some of the best results ever drilled at Eastside, including:

• 2.35 g/t gold over 243 meters
• 5.41 g/t gold over 12.2 meters
• 10.1 g/t gold over 3 meters

Notably, all of these results were obtained between 127 to 427 meters depth, demonstrating the significant exploration potential beneath the known near-surface oxide resource. Many of the holes ended in high-grade mineralization, so the deposit remains open at depth.

Allegiant will utilize both reverse circulation (RC) and core drilling rigs to systematically test and expand this emerging high-grade zone. Given the visual nature of core drilling, the company should be able to gather valuable geological information in real-time to guide the program.

Advancing the Pipeline of Projects

Beyond Eastside, Allegiant controls a pipeline of earlier stage exploration projects in Nevada, as well as in the southwestern U.S. Through joint venture agreements, the company has successfully advanced projects while minimizing dilution and exploration costs.

Notable agreements include:

• Bolo Project: Earn-in agreement with New Placer Dome Gold providing Allegiant with upfront cash and share payments, exposure to ongoing exploration, and a 50% retained interest.
• Mogollon Project: Option agreement with Summa Silver covering this high-grade silver project straddling the New Mexico/Arizona border. Summa can earn 100% by spending $7.5 million on exploration over five years.
• Hughes Property: Leased to Karora Resources, which is targeting an open-pit project analogous to its nearby Beta Hunt Mine in Australia.

With multiple active exploration programs funded through partners, Allegiant anticipates steady news flow related to these satellite projects moving forward.

Conclusion

With a large gold resource, extensive growth potential, backing from a major producer, and active exploration across a portfolio of assets, Allegiant Gold represents an attractive investment opportunity.

The experienced leadership team has demonstrated their ability to advance projects in a capital efficient manner, keeping shareholder dilution low. The recent Kinross investment and planned drill program have positioned Allegiant to potentially build value in both the near and long term.

Gold investors seeking leveraged exposure to discovery and resource expansion in Nevada would do well to have AUAU / AUXXF on their radar.