~ Enrolls Robert Leonardson ~
Page 1 of 3 NUG:TSXV / NULGF:OTC
- NuLegacy Gold Improves Discovery Prospects -
~ Enrolls Robert Leonardson ~
For Immediate Release April 11, 2023
Reno, NV – NuLegacy Gold is pleased to report enrolling the renowned Mr. Robert
Leonardson, BSGE, MSG, Michigan Tech thus adding another member of the original
“Goldrush discovery” team, with a view to improving the prospects of discovering a major
Carlin gold deposit on our flagship 108 sq. km Red Hill property in the Cortez gold-trend
of Nevada.
One of Mr. Leonardson’s greatest contributions while at Barrick Gold Corp. was as a
mentor. Charles Weakly, NuLegacy’s Exploration Manager, and the recently enrolled
consultants Nancy Richter (Feb. 22, 2023) and Mike Penick (Mar. 21, 2023) were among
the many whose exploration success benefitted from Bob’s mentoring.
Mr. Leonardson’s career spans over 55 years across the Western United States, Eastern
Canada, and Chile, exploring for and mining numerous commodities including gold, silver,
platinum, base metals, and iron ore for Anaconda, Molycorp and Barrick Gold Corp.
Mr. Leonardson joined Barrick Gold in 1992 where he worked at the Goldstrike Mine as
Senior Mine Geologist and Geological Advisor. At Goldstrike, Bob focused on geologic
mapping, cross section interpretation and three-dimensional modeling which led to the
understanding of the complex fold and thrust architecture that is related to the massive gold
deposits at Goldstrike and the northern Carlin Trend.
Following Barrick’s acquisition of Placer Dome, Bob exported that methodology and
knowledge to the Cortez Trend which contributed to the discovery of additional millions
of ounces of gold in the Pipeline, Cortez Hills, and Goldrush/Fourmile deposits.
With the addition of Bob to the NuLegacy team, we are significantly advancing our
geological understanding of the Carlin-style gold mineralizing systems on the Red Hill
property and improving the prospects of discovering high-grade gold mineralization.
Page 2 of 3 NUG:TSXV / NULGF:OTC
Mr. Leonardson holds a BS in Geological Engineering and an MS in Geology, both from
Michigan Technological University. For a more complete listing of Bob’s numerous
contributions to discoveries and expansion of gold mines please link to his full resume at
https://bit.ly/rleonardson.
Bob, Nancy Richter, and Mike Penick together with our Exploration Manager, Charles
Weakly and cofounding Director, Dr. Roger Steininger1 are completing a total review of
NuLegacy’s exploration programs/database to focus our summer 2023 drilling program
and select the best holes to be drilled.
The rigorous drill hole selection process, which began with a geo-technical review session
held in Reno March 6-7, is scheduled to be completed May 8-9 in Elko. A summary of the
initial conclusions from the March 6-7 review and ongoing analysis will be made available
by month’s end.
Drilling and logistical supply contracts have been finalized and drilling is scheduled to
commence June 1, 2023 pending financing, with the initial assays for gold anticipated in
mid-August.
NuLegacy Gold is focused on discovering 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 on the Red Hill property are on trend and adjacentI 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: +1 (604) 639-3640; Email: [email protected]
For more information about NuLegacy visit: www.nulegacygold.com or www.sedar.com
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 Inf erred: 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.
1 Credited with the original Pipeline discovery.
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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.
Cautionary Statement on Forward-Looking Information: This news release contains forward-looking
information and statements under applicable securities laws, which information and/or statements relate
to future events or future performance (including, but not limited to, the anticipated impact Robert
Leonardson and NuLegacy’s other recent additions to its geological team will have on the Company’s
prospects for discovering a major Carlin-style gold deposit at Red Hill, the prospective nature of the Red
Hill Property and its potential for hosting a significant Carlin-style gold deposit; the current modeling and
potential future exploration and drill programs for the Red Hill Property including NuLegacy’s proposed
2023 drill program and the size, targets, timing and anticipated cost thereof) and reflect management’s
current expectations and beliefs based on assumptions made by and information currently available to the
Company. Readers are cautioned that such forward -looking information and statements are neither
promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ
materially from those expected including, but not limited to, market conditions, availability of financing,
actual results of exploration activities and drilling, unanticipated geological, stratigraphic and structural
formations, environmental risks, operating risks, accidents, labor issues, delays in obtaining governmental
approvals and permits, delays in receipt of assay results from third party laboratories, inflation, future
prices for gold, changes in personnel and other risks in the mining industry. There are no assurances that
the addition of Robert Leonardson and other former Barrick “Goldrush discovery” team members to the
Company’s geological team will result in the discovery of a major Carlin -style gold deposit at Red Hill.
Furthermore, there are no known mineral resources or reserves in t he Red Hill Property, any proposed
exploration programs are exploratory searches for bodies of ore and the presence of gold resources on
properties adjacent or near the Red Hill Property including Goldrush and the Cortez Fourmile deposit is
not necessarily indicative of the gold mineralization on the Red Hill Property. There is also uncertainty
about the continued spread and severity of COVID -19, the ongoing war in Ukraine, inflation and rising
interest rates and the impact they will have on the NuLegacy’s operations, personnel, supply chains, ability
to raise capital, access properties or procure exploration equipment, supplies, contractors and other
personnel on a timely basis or at all and economic activity in general. All forward-looking information and
statements made in this news release are qualified by these cautionary statements and those in our
continuous disclosure filings available on SEDAR at www.sedar.com. The forward-looking information
and statements in this news release are made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or circumstances save as required by applicable
law. Accordingly, readers should not place undue reliance on forward-looking information and statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.