ALLEGIANT GOLD LTD - AUXXF STOCK NEWS

Allegiant Gold Ltd. (AUXXF) announced the arrival of a reverse circulation drill rig at its Eastside project in Nevada, expanding its drill program from 12,000 to over 14,000 meters. The plan includes drilling 30 holes in the East Pediment area and 10 holes in the West Anomaly area, targeting geophysical and geochemical anomalies associated with gold deposits. The recent strategic investment from Kinross Gold facilitated the drill program expansion. CEO Peter Gianulis expressed optimism about the potential to enhance existing resources at Eastside.

Allegiant Gold Ltd. (AUXXF) announced an amended option agreement with Anchor Minerals for 80 claims at Goldfield West, allowing the company to implement a US$1.5 million, 5-year work program. The new deal replaces advanced royalty payments with a one-time payment of US$140,000 (US$60,000 cash, US$80,000 in shares). After five years, Allegiant will resume royalty payments of US$50,000, adjusted for inflation. This agreement is expected to enhance exploration efforts in a promising Nevada district, pending final TSX Venture Exchange approval.

Allegiant Gold Ltd. has announced a strategic financing of C$4,014,404 from Kinross Gold Corporation, which will enable accelerated exploration at the Eastside property in Nevada. Following the closing, Kinross will hold 9.9% of Allegiant's shares. Each unit purchased by Kinross comprises one common share and one-half warrant, priced at C$0.40 per unit, with warrants exercisable at $0.70 over two years. The investment will have a dedicated focus on the high-grade zone within the Eastside project and is set to close by March 18, 2022.

Allegiant Gold Ltd. (AUXXF) has completed over 6 kilometers of road construction at its Eastside project, enhancing access to significant drill targets. This development sets the stage for an upcoming drilling program, which will start in March 2022, targeting the High-Grade Zone (HGZ) and other anomalies. The program plans to drill 35 reverse circulation and 7 diamond core holes, focusing on areas with promising mineralization results, including gold concentrations reaching up to 39 g/t. The CEO expressed excitement about the expanded drilling capabilities and the potential for significant findings.

Allegiant Gold Ltd. (AUXXF) has amended its option agreement with New Placer Dome Gold Corp for the Bolo Project. New Placer can earn a 50.01% interest by making a total of US$1 million in share payments and investing US$4 million in exploration. An additional US$400,000 payment is included in the amendment, consisting of US$250,000 in cash and US$150,000 in shares. New Placer Dome is required to spend US$1.5 million in 2022 to meet exploration requirements. Allegiant is focusing on advancing its flagship Eastside gold project.

Allegiant Gold Ltd. (AUXXF) announced the start of road construction for drilling at its Eastside Gold Deposit in Nevada. The company plans to drill up to nine core holes to explore a newly discovered high-grade zone, with previous holes returning impressive gold grades. Eastside currently hosts an inferred resource of 1.09 million ounces of gold and substantial silver resources. The company is optimistic about potential drill targets following a permit expansion, enhancing its growth prospects in the mining sector.

Allegiant Gold Ltd. has appointed Gordon Bogden as the new Chairman of the Board, effective immediately. Bogden, a seasoned professional in mining investment banking, has guided over $20 billion in M&A transactions. His leadership is expected to bolster Allegiant’s transition from a project generator to a developer, particularly for the Eastside project, which has shown promising initial metallurgical results. The Board also approved the issuance of 1.1 million RSUs and 1.8 million stock options to directors and consultants.

Allegiant Gold Ltd. (AUXXF) received two important drilling permits for its flagship Eastside Project in Nevada, significantly expanding its operations. The first permit increases the operational area from 600 acres to 3,676 acres, while the second allows for drilling 14 new diamond core holes in a newly discovered high-grade zone. The Eastside Project currently has inferred resources of 1.4 million ounces of gold and 8.7 million ounces of silver.

CEO Peter Gianulis expressed optimism about the exploration potential and upcoming drilling.

Allegiant Gold Ltd. (AUXXF) has filed a preliminary short form prospectus for a bought deal offering of 12,500,000 Units at $0.40 each. This announcement accompanies an updated technical report on the Eastside project, revealing a 41% increase in inferred gold resources with 1.09 million ounces at 0.55 g/t in the Eastside Original Pit Zone and 314,000 ounces at 0.49 g/t in the Castle Area. The report highlights significant drilling progress and outlines future exploration plans focused on high-grade zones and nearby regions.