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TICKERS: AUAU; AUXXF

Gold Explorer to Launch Six-Project Drill Campaign in Nevada
News Update

Source:

Final preparations are underway, and drilling is imminent.

Allegiant Gold Ltd. (AUAU:TSX.V; AUXXF:OTCQX) is on the cusp of launching a drill campaign that will test six high-priority gold projects in Nevada that "offer excellent discovery opportunity," a news release noted. The program, scheduled to begin within 30 days, will last 10 to 12 months.

The first target will be Red Hills, where a rig should arrive by mid-month. There, up to 2,200 meters in eight reverse circulation holes will be drilled. After Red Hills, Allegiant will drill test at Hughes Canyon, Monitor Hills, North Brown, Silverdome and Adularia Hill. Adularia Hill is a new target about 12.5 kilometers south of the Original zone at the Eastside project.

Proceeds from a nonbrokered private placement will fund the drill program. Allegiant has closed its first tranche, about CA$2.8 million; it should close the second one in the next two weeks.

In another development, Allegiant's Andy Wallace has stepped down as CEO, to focus solely on exploration. He will continue as vice president of exploration for the company and director of Allegiant Gold Holding Ltd., a wholly owned subsidiary of Allegiant. Robert Giustra, Allegiant's chairman, has been appointed CEO.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Allegiant Gold, a company mentioned in this article.




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