Allegiance Commences Initial Field Program at 100%-Owned Golden Scheelite Tungsten Project in Nevada

Allegiance launches first modern fieldwork at Golden Scheelite and settles $24,000 debt in shares.

What the company is saying

Allegiance Resources Corp. announces the start of its initial field program at the 100%-owned Golden Scheelite Tungsten Project in Humboldt County, Nevada, with geological consulting by Rocca, LLC. The company frames this as the first systematic, modern exploration across all 17 claims (347 acres), aiming to map, sample, and prospect for tungsten-bearing skarn beyond historical workings. CEO Kelly Abbott emphasizes the program’s goal to establish the geology, verify historical records, and generate new exploration targets, highlighting the limited scope of past production and the untested potential of the broader property. The company also discloses a debt settlement: $24,000 owed to 1594807 B.C. Ltd. for consulting will be paid by issuing 145,454 shares at $0.165 each, with a four-month and one-day hold period, and no finder's fees. Allegiance stresses that the settlement is at arm's length and will not create a control person. The tone is factual, with explicit mention that new assay results are pending and historical figures remain unverified.

What the data suggests

The field program is limited in scope, lasting three days and covering all 17 claims (347 acres), with activities including mapping, grab sampling, and UV-lamp prospecting for scheelite. Historical production was small: 6 tons grading 0.71% WO₃ in 1953 and 20 tons at 0.59% WO₃ in 1954, plus a single historical sample of 3.59% WO₃ from the shaft bottom. The historical workings themselves were modest, with an open cut (50x15x15 feet), two trenches (60 and 20 feet), and a shallow 7-foot shaft. No modern systematic exploration has been done until now. The company holds a 100% interest in the project with no royalty. The only financial transaction disclosed is a $24,000 debt settlement via 145,454 shares at $0.165 per share, with regulatory compliance and a standard hold period. No new assay results or resource estimates are available; all current data is historical and unverified. The company is transparent about the early stage and the limitations of the historical data.

Analysis

The announcement is a factual disclosure of the commencement of an initial field program at the Golden Scheelite Tungsten Project, with clear descriptions of planned activities and historical context. The language is measured and does not overstate the significance of the current work; it simply outlines the steps being taken and the rationale for the exploration. There are forward-looking statements about submitting samples for assay and potential next steps, but these are standard for an early-stage exploration update and are not presented as guaranteed outcomes. No claims are made about imminent resource discovery, production, or financial impact. The only financial transaction disclosed is a modest debt settlement via share issuance, which is routine and not capital intensive. There is no evidence of narrative inflation or exaggerated claims relative to the actual progress reported.

Risk flags

• ●All disclosed tungsten grades are historical and unverified; the company has not independently confirmed past production or sampling methods, so the actual mineral potential remains uncertain.
• ●The property has never been systematically explored with modern techniques, increasing the risk that historical results may not be representative or repeatable across the broader area.
• ●No current mineral resources or reserves exist at Golden Scheelite, and there is no guarantee that the current field program will identify economically viable mineralization.
• ●The $24,000 debt settlement is routine, but the company’s reliance on share issuance for payment highlights limited cash resources and potential dilution for existing shareholders.

Bottom line

Allegiance Resources Corp. has begun its first modern field program at the Golden Scheelite Tungsten Project, targeting tungsten-bearing skarn beyond small historical workings. The project’s only documented production is decades old and modest in scale, with all current grades and tonnages unverified by modern methods. The company’s operational disclosure is clear and factual, but the investment case rests entirely on pending assay results, with no current resource, reserve, or economic study. The $24,000 debt settlement via share issuance is minor but signals a preference for equity over cash payments. Investors should focus on the outcome of the current sampling and assay phase; until those results are available and independently verified, the project’s value remains speculative. The most important takeaway is that this is an early-stage exploration story with all associated risks and no near-term catalyst beyond assay results.

Announcement summary

(CSE:ALLG) (FSE:BG5) Allegiance Resources Corp. announced that Rocca, LLC, a geological consulting firm, has commenced the company's initial field program at its 100%-owned Golden Scheelite Tungsten Project in Humboldt County, Nevada. The three-day program includes geological mapping, grab sampling, UV-lamp prospecting for scheelite, and systematic reconnaissance across all 17 claims covering approximately 347 acres (140 hectares). The objective is to evaluate the extent of tungsten-bearing skarn beyond historical workings and generate targets for follow-up exploration. Historical government records report that Golden Scheelite shipped 6 tons grading 0.71% WO₃ in 1953 and 20 tons grading 0.59% WO₃ in 1954 to the Getchell mill. A separate historical sample from the bottom of the shaft returned 3.59% WO₃. The historical workings included an open cut approximately 50 feet long, 15 feet wide, and 15 feet deep, two trenches approximately 60 feet and 20 feet long, and a shallow 7-foot shaft. The broader property has not been systematically explored using modern methods. The field program involves mapping and sampling of historic workings and tungsten-bearing skarn, night-time UV prospecting for scheelite, claim-wide reconnaissance, and recording GPS locations, photographs, and structural observations to build the project's first modern geological dataset. The U.S. Geological Survey notes that 'scheelite appears to be present throughout the tactite.' Following completion of the field program, Allegiance intends to submit collected grab samples to an independent laboratory for tungsten analysis using fusion methods appropriate for tungsten. The company will integrate assay results with geological mapping, structural observations, and GPS data. Subject to results, the next phase is expected to focus on refining the extent and orientation of the tungsten-bearing skarn, following up newly identified areas of interest, and prioritizing targets for additional surface work and potential drilling. The company will also compare new data against historical records and evaluate whether geophysical surveying or additional systematic sampling could help define targets beneath areas of limited exposure. Results from the current program will be reported once assays have been received and reviewed. Kelly Abbott, Chief Executive Officer of Allegiance, stated that the program is about establishing the geology, testing the historical record, and determining where the tungsten-bearing skarn extends beyond the old workings. Golden Scheelite consists of 17 unpatented lode claims covering approximately 347 acres (140 hectares) in Humboldt County, Nevada. Allegiance holds a 100% interest through its wholly owned subsidiary, Wolfram Critical Minerals Inc., with no underlying royalty. The United States has had no commercial tungsten mine production since 2015, and U.S. defence procurement restrictions on certain tungsten sourced from China take effect January 1, 2027. Allegiance also announced its intention to settle $24,000 of indebtedness owed to 1594807 B.C. Ltd. for exploration consulting services provided under a consulting agreement dated July 1, 2026, through the issuance of 145,454 common shares at a deemed price of $0.165 per share. 1594807 B.C. Ltd. deals at arm's length with the company, is not a Related Person, and will not become a Control Person as a result of the settlement. No finder's fees are payable. The shares will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws and CSE policies. The settlement will close no earlier than five business days after the date of this news release and remains subject to compliance with CSE policies. The scientific and technical information in this news release has been reviewed and approved by Ryan Versloot, P.Geo., a qualified person as defined by National Instrument 43-101, who is independent of the company. Historical production figures, sample results, and descriptions are derived principally from U.S. Geological Survey Mineral Resources Data System record 10047493 and Nevada Bureau of Mines and Geology Bulletin 59. The company has not independently verified the historical information, and there are no current mineral resources or mineral reserves at Golden Scheelite.

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