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Eagle Take Permit Allows Year-Round Exploration at Mcintosh Zone

Tonopah, Nevada – TheNewswire - December 16, 2024 - Allegiant Gold Ltd. (“Allegiant& or the “Company&) (TSX-V:AUAU) (OTCQX:AUXXF) is pleased to provide an update on the issuance receipt of the Eagle Take Permit by the United States Fish and Wildlife Service (USFWS).

Allegiant has selected a vendor to provide compensatory mitigation to meet eagle incidental take permit conditions at Eastside Exploration Project. A mitigation credit from the Eagle ILF Program provides one pole retrofitted to provide 30 years of avoided loss to Bald and/or Golden Eagles in the appropriate Flyway (Eagle Management Unit).

Peter Gianulis, CEO of Allegiant Gold, comments “This is an important and final step in achieving year-round exploration and drilling at the McIntosh Zone within the Eastside District (see Map 1). We look forward to now advancing drilling within the McIntosh Zone and, in particular, the targeting of our high-grade discovery. We will be updating the market in the near future regarding our future plans.&

MAP 1: MAP OF MCINTOSH ZONE AND PERMITTED AREA AT EASTSIDE

https://allegiantgold.com/site/assets/files/3144/eagles-nest-map.pdf

USFWS EAGLE TAKE PERMIT

The Eagle Take Permit, issued by USFWS, is a critical regulatory authorization required for activities that may incidentally result in the disturbance or harm of bald and golden eagles, which are protected under federal law. This permit is essential for companies like Allegiant that operate in areas where eagles are known to frequent, as it allows for lawful management and mitigation of potential impacts on these majestic birds and their habitats.

In September 2020, Allegiant started its review of the permit requirements and costs for the Eagle Take Permit. This phase involved meticulous consideration and analysis to gain a clear understanding of the permit process. This rigorous phase culminated in March 2021 when Allegiant formally submitted the Eagle Take Permit Application to USFWS. Subsequently, in January 2022, Allegiant engaged the consultant company Stantec to commence work on the Environmental Assessment (EA) and Eagle Conservation Plan (ECP) as prerequisites to obtaining the eagle take permit.

After nearly three years of dedicated efforts and collaboration, Allegiant has now secured the permit, which was finalized and issued on April 16th, 2024. The effective dates of the permit will be from December 15, 2024, to December 14, 2029.

ALLEGIANT GOLD LTD. ENGAGES ICP SECURITIES INC. FOR AUTOMATED MARKET MAKING SERVICES

Allegiant also announces that it has engaged the services of ICP Securities Inc. (“ICP&)to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of December 16, 2024, and is for four (4) months (the “Initial Term&) and shall be automatically renewed for subsequent one (1) month terms (each month called an “Additional Term&) unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP is an arm&s length party to the Company. ICP&s market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company&s shares. ICP will be responsible for the costs it incurs in buying and selling the Company&s shares, and no third party will be providing funds or securities for the market making activities.

ABOUT ICP SECURITIES INC.

ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

ABOUT ALLEGIANT

Allegiant owns five highly prospective gold projects in the United States all of which are in the mining-friendly jurisdiction of Nevada. Allegiant&s flagship, district-scale Eastside project hosts a large and expanding gold resource and is in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD

Peter Gianulis

CEO

For more information contact:

Investor Relations

ir@allegiantgold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and “forward-looking information& within the meaning of applicable Canadian securities laws, which are referred to collectively as "forward-looking statements". The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor& for certain forward-looking statements.Allegiant Gold Ltd.&s (“Allegiant&) exploration plans for its gold exploration properties, the drill program at Allegiant&s Eastside project, the preparation and publication of an updated resource estimate in respect of the Original Zone at the Eastside project, Allegiant&s future exploration and development plans, including anticipated costs and timing thereof; Allegiant&s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance and capital expenditures, and working capital requirements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek&, “expect&, “anticipate&, “budget&, “plan&, “estimate&, “continue&, “forecast&, “intend&, “believe&, “predict&, “potential&, “target&, “may&, “could&, “would&, “might&, “will& and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors& in Allegiant&s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant&s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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