Core Drilling At Castle Extends Resource Potential

TONOPAH, NV - Allegiant Gold Ltd. reported on drilling results at the Castle Project within the Eastside District in Nevada. High-grade gold values up to 5.04 g/t Au from drill hole ES-315 and 204.0 g/t Ag in drill hole ES-31. Broad zones of low-grade gold silver mineralization in the Boss and Castle deposits including 24 meters at 0.51 g/t Au and 1.33 g/t Ag as well as 29.6 meters of 0.39 g/t Au and 2.85 g/t Ag from drill hole ES-315. Quartz veins occur within intensely altered and oxidized host volcanic rocks. Boss mine dumps containing gold and silver values up to 0.44 g/t Au 10.4 g/t Ag.

Peter Gianulis, CEO, said, “We are pleased with the results obtained from the recent diamond core drilling program at The Castle Project within Eastside.  Further drilling continues to demonstrate the potential for additional resource expansion at Castle in addition to the shallow depths that are very amenable to open-pit, heap-leach mining.  Furthermore, we continue to be optimistic about the possibility of re-processing the waste dumps and, potentially, the existing heap leach pad as a means for generating cash flow and reaching production in the short term.  Further work is required but we remain very encouraged by the initial results.  Our current strategy is to continue to expand the resources at the Eastside District beyond the approximately 1.4 million gold ounces and 8.7 million silver ounces within the two main zones (McIntosh and Castle).  We will be providing our investors with a corporate update over the coming month outlining our near-term strategy.”