(TheNewswire)
Tonopah, Nevada – TheNewswire - April 25, 2023 - Allegiant Gold Ltd.(“Allegiant” or the “Company”) (TSXV:AUAU) (OTC:AUXXF) is pleased to announce that it has completed thesale of its Four Metals project located in Arizona to BarksdaleResources Corp. (BRO.V) after receiving the final option payment ofcash and common shares.
Peter Gianulis, CEO of AllegiantGold , commented: “It has been a pleasureworking with Barksdale over the past four years on the Four MetalsProject. I am confident that Barksdale will be able to unlock thevalue of the property. It also validates our business model thatallows us to focus on our core projects while reducing dilutionthrough optioning-out our non-core projects.”
The Company also wishes to announce the grant of300,000 incentive stock options (“Stock Options”) exercisable intothe equivalent amount of common shares of the Company at a price of$0.22 per share for a period of three years. The grants were made toan officer and several consultants of the Company and are subjectcertain vesting requirements. The Company’s Board of Directors hasalso approved the grant of 200,000 restricted share units (“RSUs”)to an officer of the Company which vests over 36 months. Each vestedRSU entitles the holder to receive one common share of the Company.
ABOUT ALLEGIANT
Allegiant owns six highly-prospective gold projects inthe United States, five of which are located in the mining-friendlyjurisdiction of Nevada. Two of Allegiant’s projects are currentlyfarmed-out, providing for cost reductions and cash-flow. Allegiant’sflagship, district-scale Eastside project hosts a large and expandinggold resource and is located in an area of excellent infrastructure.Preliminary metallurgical testing indicates that both oxide andsulphide gold mineralization at Eastside is amenable to heapleaching.
ON BEHALF OF THE BOARD
Peter Gianulis
CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release .
Certain statements and informationcontained in this press release constitute "forward-lookingstatements" within the meaning of applicable U.S. securities lawsand “forward-looking information” within the meaning of applicableCanadian securities laws, which are referred to collectively as"forward-looking statements". The United States PrivateSecurities 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 drillprogram at Allegiant’s Eastside project, the preparation andpublication of an updated resource estimate in respect of the OriginalZone at the Eastside project, Allegiant’s future exploration anddevelopment plans, including anticipated costs and timing thereof;Allegiant’s plans for growth through exploration activities,acquisitions or otherwise; and expectations regarding futuremaintenance and capital expenditures, and working capitalrequirements. Forward-looking statements are statements andinformation regarding possible events, conditions or results ofoperations that are based upon assumptions about future economicconditions and courses of action. All statements and information otherthan statements of historical fact may be forward-looking statements.In some cases, forward-looking statements can be identified by the useof 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 (includingnegative variations) suggesting future outcomes or statementsregarding an outlook. Suchforward-looking statements are based on a number of material factorsand assumptions and involve known and unknown risks, uncertainties andother factors which may cause actual results, performance orachievements, or industry results, to differ materially from thoseanticipated in such forward-looking information. You are cautioned notto place undue reliance on forward-looking statements contained inthis press release. Some of the known risks and other factors whichcould cause actual results to differ materially from those expressedin the forward-looking statements are described in the sectionsentitled “Risk Factors” in Allegiant’s Listing Application,dated January 24, 2018, as filed with the TSX Venture Exchange andavailable on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from thoseanticipated in such statements. Allegiant undertakes no obligation toupdate or revise any forward-looking statements included in this pressrelease if these beliefs, estimates and opinions or othercircumstances should change, except as otherwise required byapplicable law.
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