2,000-Metre Drill Program to Test Depth Extensions of High-Grade Zone
Tonopah, Nevada - TheNewswire - July 21, 2025 - Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the selection of Timberline Drilling Inc., based in Elko, Nevada, to conduct a 3-hole, up to 2,000-metre diamond core drill program at its flagship Eastside Project located near Tonopah, Nevada.
The program will target the High-Grade Zone (HGZ) within the McIntosh Zone and is designed to follow up on the most successful drill holes in the Company’s history. Drilling is anticipated to commence within the next 2 to 3 weeks.
PROGRAM HIGHLIGHTS:
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Drill Contractor: Timberline Drilling Inc. of Elko, Nevada
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Program: Up to 2,000 metres of HQ diamond core drilling in 3-4 holes
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Drill Holes:
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ESC-321 and ESC-322: New vertical core holes to be drilled to depths of over 600 metres each, following up on prior bonanza-grade intercepts in ES-239 and ES-243, last drilled in 2021
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ES-323: A newly designed 65-degree angle hole, totaling 740 metres (approximately 660 metres vertical depth) to test deeper structural controls and the potential for high-grade mineralization
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Peter Gianulis, CEO of Allegiant Gold, commented: "After a significant amount of analysis and reinterpretation, we are now set to test the vertical extensions of the two most successful holes in the Company’s history. This program will test for continuity and potential expansion of the High-Grade Zone at depth. If successful, it could represent a major step toward re-rating Eastside as one of Nevada’s most exciting gold-silver projects.”
This program is supported by Allegiant’s updated exploration model, which incorporates over 60,000 metres of historical drilling along with recent structural, lithological, geochemical, and geophysical datasets. Drilling results will inform future exploration planning and potential resource updates.
About Timberline Drilling Inc.
Timberline Drilling Inc. is a privately held, full-service drilling contractor based in Elko, Nevada, specializing in core, reverse circulation, and sonic drilling. With over 30 years of experience operating across the western United States, Timberline has built a strong reputation for safety, efficiency, and technical excellence in mineral exploration. The company is known for its modern fleet, skilled personnel, and deep operational knowledge of Nevada's geological environments, making it a preferred drilling partner for exploration and mining companies working in the region.
About Allegiant Gold
Allegiant owns five highly prospective gold projects in the United States, all located in the mining-friendly jurisdiction of Nevada. Allegiant’s flagship Eastside project is a district-scale asset hosting a large and expanding gold-silver resource in an area of excellent infrastructure. Preliminary metallurgical testing indicates both oxide and sulphide mineralization are amenable to heap leaching.
ON BEHALF OF THE BOARD
Peter Gianulis
CEO
For more information contact:
Investor Relations
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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.sedarplus.ca. 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.
