AUAU Allegiant Gold Ltd

Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX-V) (AUXXF: OTCQX) announces that further to its press release dated October 16, 2018, it has extinguished existing debt in the amount of $13,361 by issuing 32,368 common shares (the “Settlement Shares”) at a deemed price of $0.41 per Settlement Share to certain of its independent directors. The Settlement Shares were issued on October 24, 2018 and are subject to a four month hold period expiring on February 25, 2019. The issuance of the Settlement Shares has been approved by the TSX-V.

ON BEHALF OF THE BOARD,

Robert F. Giustra Chairman & CEO

For more information contact:

Investor Relations(604) 634-0970 or1-888-818-1364ir@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.