NuLegacy Reports Results For 1st Hole of 2023 Drilling Program - Seite 2

About NuLegacy Gold: Exploration: NuLegacy is focused on exploring for high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill property.

The Red Hill is on trend/adjacent^I to three of Nevada Gold Mines’ most profitable multi-million ounce Carlin-type gold mines; the Pipeline, Cortez and Goldrush^II with their massive 50+ million ounces gold endowment. These are three of the world’s thirty largest, lowest cost, highest grade, and politically safest gold mines, producing annually circa 3% of the world’s gold.

Seven of NuLegacy’s principals/exploration team members have contributed to/participated in the discovery/expansion of one or more of all seven of Nevada’s massive Carlin-style gold deposits.

Other activities: With the ‘on-going’ recovery in the price of gold to circa US $2,000 (+/- $200) making gold mining considerably more profitable, (as evidenced by the industry’s highest dividend payout ratios in more than twenty years), as well as making a discovery on our premier flagship Red Hill property with its numerous prospective targets, NuLegacy’s focus will include:

1. Establishing the viability of mining-shipping the mineralized material in the Iceberg corridor (North, Serena, and Central zones).
2. Engaging with potential joint venture partners to assist NuLegacy in making that viability determination and financing a positive decision.
3. Establishing a paying royalty portfolio to, at a minimum, cover the annual ongoing cost (~ US $425,000) of maintaining NuLegacy’s ownership/control of the prized Red Hill property.
4. And, mindful that we have, in our opinion, the best Carlin-exploration team,
   1. Promoting the Red Hill to companies with the requisite engineering, construction, and production management to develop any future discovery at Red Hill.
   2. Engaging with neighbouring landowners to review potential synergies/opportunities.

^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.