Allegiant Gold Ltd. announced the results of its recently completed seven-hole, 3,457-meter diamond core drill program ("DDH") within the High-Grade Zone ("HGZ") at Eastside. Eastside Drilling Highlights: 9.9 g/t Au over 1.5m (including 23 g/t Ag) and 5.3 g/t Au over 1.5m within a broader intercept of 0.63 g/t Au over 99m at Hole ES-280. 1 g/t Au over 12m at Hole ES-281.

1 g/t Au over 49m at Hole ES-282. 2 g/t Au over 9m at Hole ES-285. within a broader intercept of 0.46 g/t over 105m Diamond core drilling has confirmed the occurrence of high-grade zones within the Eastside Deposit's rhyolite host rock and that high grade gold is associated directly with high grade silver values.

The drilling has also confirmed both the lateral and vertically extensive nature of the low-grade gold-silver mineralization around these high-grade zones. The drilling confirms the high-grade mineralization that was observed in reverse circulation ("RC") drill holes ES-239 and ES-243 and provided high quality rock samples for further analysis. The drill program targeted deeper high-grade Au-Ag mineralization within the core of the Eastside Rhyolite complex as well as deeper portions of the contact between the rhyolite complex and the surrounding volcanic host rocks.

The program followed up on the high-grade results identified in 2021 RC drilling including holes ES-243 and ES-239. The results of the core drilling program have confirmed the high-grade gold-silver mineralization that was observed in earlier drill holes ES-239 and ES-243, and throughout the low-grade resource as defined in the Technical Report dated July 30, 2021. The mineralization is hosted by a tectonically fractured, flow-banded rhyolite and occurs dominantly within veins containing quartz and hematite within an envelope of lower grade mineralization consisting of millimeter scale stockworks of quartz and iron-oxide veins as well as in fracture-fill.

At lower levels below the oxide/sulfide boundary the quartz veins are seen to contain varying amounts of pyrite, marcasite and stibnite; the host rock rhyolite also contains a relatively high proportion (up to 5%) of fine grained, millimeter scale, disseminated sulfides including pyrite, marcasite and stibnite. The updated resource estimate ("Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold- Silver Project Technical Report, Esmeralda County, Nevada") conducted by Mine Development Associates ("MDA") of Reno, Nevada, with an effective date of July 30, 2021, contained a pit-constrained Inferred Resources (cut-off grade of 0.15 g/t Au) of 61,730,000 tonnes grading 0.55 g/t Au and 4.4 g/t Ag at the Original Pit Zone (1,090,000 ounces gold and 8,700,000 ounces silver) and 19,986,000 tonnes grading 0.49 g/t Au at the Castle Area (314,000 ounces gold).