Allegiant Gold Ltd. announced the finding of high-grade gold and silver on existing heap leach and waste dumps at the former operating Boss Mine, within the Castle Project of the Eastside District. Allegiant sampled material from existing waste dumps and tailings. A total of 79 samples were collected and analyzed for gold, silver and other elements, the majority from the Boss Mine's leach pad.

It is estimated that the Boss Mine produced over 32,000 Au ounces from 650,000 tons at an average grade of 0.058 opt (1.99 g/t Au); recovery for silver and other metals of value is unknown. MAP 1: LOCATION of BOSS MINE LEACH PAD SAMPLING. Samples were collected from the near surface at the Boss Mine's leach pads without damaging the existing liner materials.

A total of 72 samples (Map 2) were collected from the leach pad at points across the whole of leach pad's area, approximately 5-hectares. Antimony, arsenic, iron, gold, and silver were the only metals that returned significantly anomalous values and characterize the metals most commonly associated with the Eastside District epithermal-style mineralization. Further sampling and drilling of the leach pad and dumps is proposed to assess the full extent of undocumented gold and silver mineralization in material already mined and at the surface.

Metallurgical testing of the samples collected from all sources will be carried to allow the Company to assess the economic viability of reprocessing the leach pad and dumps to extract the remaining gold and silver prior to commencement of new mining operations. The Castle Project approximately 10 kilometers south of the McIntosh Zone within the Eastside District, contains four known low-to-moderate sulfidation epithermal gold-silver deposits: Boss, Berg, Black Rock and Castle. An inferred resource was defined based upon historic drilling through 2020.

This was followed by resource expansion drilling in early 2023 which demonstrated that the Castle Project was under-drilled, and that further exploration and resource expansion drilling could bring significant additional mineralization to the resource. To achieve this goal, Allegiant has identified areas of both exploration and expansion drilling to complete the objective of identifying additional target areas. Allegiant has already drilled 19 holes in early 2023 and will drill an additional 30 to32 holes using both reverse circulation and diamond core drilling.

Allegiant is in the process of completing all the necessary planning and environmental steps to enable the filing of a Plan of Operation that will include an extensive drilling program to upgrade the resource from inferred to indicated and measured resources, steps necessary for mine planning and permitting.