Allegiant Gold advances permitting on Eastside District, Nevada

Allegiant Gold Ltd. [TSXV: AUAU; OTCQX: AUXXF] provided an update on the issuance receipt of the Eagle Take Permit by the United States Fish and Wildlife Service (USFWS).

Allegiant has selected a vendor to provide compensatory mitigation to meet eagle incidental take permit conditions at Eastside Exploration Project. A mitigation credit from the Eagle ILF Program provides one pole retrofitted to provide 30 years of avoided loss to Bald and/or Golden Eagles in the appropriate Flyway (Eagle Management Unit).

Peter Gianulis, CEO, commented, “This is an important and final step in achieving year-round exploration and drilling at the McIntosh Zone within the Eastside District.  We look forward to now advancing drilling within the McIntosh Zone and, in particular, the targeting of our high-grade discovery.  We will be updating the market in the near future regarding our future plans.”

The Eagle Take Permit, issued by USFWS, is a critical regulatory authorization required for activities that may incidentally result in the disturbance or harm of bald and golden eagles, which are protected under federal law. This permit is essential for companies like Allegiant that operate in areas where eagles are known to frequent, as it allows for lawful management and mitigation of potential impacts on these majestic birds and their habitats.

In September 2020, Allegiant started its review of the permit requirements and costs for the Eagle Take Permit.  This phase involved meticulous consideration and analysis to gain a clear understanding of the permit process. This rigorous phase culminated in March 2021 when Allegiant formally submitted the Eagle Take Permit Application to USFWS. Subsequently, in January 2022, Allegiant engaged the consultant company Stantec to commence work on the Environmental Assessment (EA) and Eagle Conservation Plan (ECP) as prerequisites to obtaining the eagle take permit.

After nearly three years of dedicated efforts and collaboration, Allegiant has now secured the permit, which was finalized and issued on April 16th, 2024.  The effective dates of the permit will be from December 15, 2024, to December 14, 2029.

Allegiant also announces that it has engaged the services of ICP Securities Inc. (ICP) to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Exchange and other applicable legislation.

ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of December 16, 2024, and is for four months (the Initial Term) and will be automatically renewed for subsequent one month terms (each month d an Additional Term) unless either party provides at least 30 days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the company in the future.

ICP is an arm’s length party to the company. ICP’s market making activity will be primarily to correct temporary imbalances in the supply and demand of the company’s shares.

ICP Securities Inc. is a Toronto-based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health.

Allegiant owns five highly prospective gold projects all of which are in Nevada. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.