NuLegacy Receives Permit Approval

Prepares Phase One drilling program

RENO, Nev., Sept. 23, 2020 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation is pleased to report that it has received final approval from the Bureau of Land Management (“BLM”) of a modified Plan of Operations (“POP”) on its 100% controlled Red Hill gold project in the Carlin gold-trend of Nevada. With this permit approval, the planned Phase One exploration drill program of the highly prospective Rift Anticline target can commence.

NuLegacy has identified three high-priority drill targets in the northern half of the Rift Anticline and three additional targets extending south along a north northwest-oriented corridor measuring 5.5 km long and up to 1.2 km wide.

The Rift Anticline is a buried ridge of Paleozoic sedimentary rocks considered favourable for discovery of Carlin style gold mineralization. Detailed drill plans have been developed to undertake an initial 16-hole, approximately 11,250 meters drill program that should comprehensively test each target commencing with the most developed northern targets.

NuLegacy plans to drill three to five core holes in the most developed targets commencing mid-October. The balance of the 16-hole program is scheduled for completion in the spring of 2021. Specific details of the drill program will be provided as confirmed.

Mark Bradley, NuLegacy's Vice-President, Exploration comments, "Our new structural model for the Rift Anticline is a powerful exploration tool, allowing us to prioritize our initial drilling efforts within the large, 5-6 sq. km Rift Anticline target area thus optimizing chances for early discovery."

“The trend is our friend” – NuLegacy Gold is focused on confirming high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada. The Red Hill Property is located on trend and adjacent^I to the three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick Gold’s and the world’s largest, lowest cost and politically safest gold mines^II.

^I The similarity and proximity of these deposits in the Cortez Trend including Goldrush is not necessarily indicative of the gold mineralization in NuLegacy’s Red Hill Property.
^II As extracted from Barrick’s Q4-2013 and Q1-2014 reports. As reported by Barrick, the Goldrush resource contains 8,557,000 indicated ounces of gold within 25.78 million tonnes grading ~10.57 g/t and 1,650,000 inferred ounces within 5.6 million tonnes grading ~9.0 g/t.