ALLEGIANT Provides a Corporate Update, Announces Date for AGM and Grant of RSUs - Seite 3

Barrian can earn an initial 50.01% interest in Bolo by making share payments to ALLEGIANT totaling US$1 million and completing US$4 million in exploration expenditures.  According to Barrian, “The combined 2019 and historical RC drilling at Bolo defines a 1.2 kilometer north-south trending corridor of gold-silver mineralization containing the South Mine Fault Zone, Uncle Sam, and Northeast Extension zones. Gold mineralization at Bolo exhibits characteristics of classic Carlin-type mineralization, including strong subvertical structural control in addition to evidence of gold mineralization extending laterally at low angles within favorable silty carbonate units.  The relatively untested 500 metre strike length South Mine Fault-Uncle Sam segment is particularly prospective and is expected to be the main focus of Barrian’s 2020 exploration in an effort to prove-out emerging structural and stratigraphic gold targets within the zone (See figure below)”.

Figure 1: Long Section South Mine Fault-Uncle Sam Gold Targets
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Annual General Meeting Date & RSU Grants
ALLEGIANT announces that it will hold its Annual General Meeting (“AGM”) of Shareholders on Tuesday, May 19, 2020 at 9:00 a.m. PT.  All registered shareholders are welcome to attend at 1090 Hamilton Street, Vancouver, Canada. In conjunction with the Meeting, ALLEGIANT will be filing its Information Circular and related proxy materials which will be available for download under its profile on both SEDAR and EDGAR.  ALLEGIANT has also granted an aggregate of 3,000,000 restricted share units (“RSUs”) to officers, directors and key employees and consultants with a three-year vesting period in accordance with the Company’s 2020 RSU Plan which was approved by the Board in December 2019.  The RSU plan and any grants made thereunder remain subject to the approval of the TSX Venture Exchange and shareholders at the upcoming AGM.   

ABOUT ALLEGIANT
ALLEGIANT owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are located in the mining-friendly jurisdiction of Nevada. Three of ALLEGIANT’s projects are farmed-out, providing for cost reductions and cash-flow.  ALLEGIANT's flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.