NuLegacy Gold Reports Next New Consultancy - Seite 2

Drilling and logistical supply contracts are being finalized and a meeting with the assay lab provider is forthcoming. Drilling is still scheduled to commence June 1, 2023 (plus/minus a week), and finish in late-July, with the initial assays for gold in hand for reporting in the second half of August.  

The drilling will require financing as our current treasury (~ C $1.8 million) is reserved for maintenance of the Red Hill property and minimal staffing and professional fees as required for executing on the exit strategy – enrolling one of the four or five currently identified and qualified acquirors of the Red Hill property. When appropriate we plan to announce a modest equity unit financing.

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¹ The Red Hill targets are on trend and adjacent^I to three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which are ranked amongst the world’s thirty largest, lowest cost and politically safest gold mines and are three of Nevada Gold Mines’ most profitable mines.^II

ON BEHALF OF THE BOARD OF NULEGACY GOLD CORPORATION

Albert J. Matter, Chief Executive Officer & CoFounding Director
Tel: [phone]; Email: [e-mail]

For more information about NuLegacy visit: www.nulegacygold.com or www.sedar.com

NuLegacy Gold is focused on confirming potential high-grade Carlin-style gold deposits within its flagship 108 sq. km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada. The targets are on trend and adjacent^I to three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which are ranked amongst the world’s thirty largest, lowest cost and politically safest gold mines and are three of Nevada Gold Mines’ most profitable mines.^II

^I   The similarity and proximity of these deposits in the Cortez Trend including Goldrush are not necessarily indicative of the gold mineralization in NuLegacy’s Red Hill Property.
^II  Currently structured as an underground mine Goldrush contains P&P: 7.8 M oz @ 7.29 g/t; M&I: 8.5 M oz @ 7.07 g/t (inclusive of P&P); and Inferred: 4.5 M oz @ 6.0 g/t (as of December 31, 2021). Source: Corporate presentation of Nevada Gold Mines – Goldrush Underground dated September 22, 2022.

Dr. Roger Steininger, a Director of NuLegacy, is a Certified Professional Geologist (CPG 7417) and the qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, responsible for approving the scientific and technical information contained in this news release.