NuLegacy Gold NuLegacy Expands Land Position in Cortez Trend ~ Acquires Strategic Claims West of VIO Targets
NUG:TSXV / NULGF:OTC
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NuLegacy Gold
C O R P O R A T I O N
NuLegacy Expands Land Position in Cortez Trend
~ Acquires Strategic Claims West of VIO Targets ~
November 7, 2018 - Reno, NV - NuLegacy Gold Corporation reports that it has acquired by staking
64 mining claims adjacent and to the west of its Red Hill property in the famed Cortez gold trend
of Nevada.
“It is not often that a prospective property
located on on e of the major mineralized
trends in Nevada becomes available for
claim staking” states Ed Cope, NuLegacy’s
Director of Evaluations and Acquisitions.
Known as the Coal Canyon claims, the land
package encompasses approximately 5.1
square kilometers of prospective ground,
just 4.5 km (approx. 3 miles) directly south
of Barrick’s 10 million-ounce Goldrush
deposit.ii Added to our already impressive
land holdings, NuLegacy’s entire land
package is now 108 square kilometers.
The claims are prospective for both Carlin -
type sediment hosted gold deposits, and for
epithermal gold -silver deposits hosted in
basalt flows of the Northern Nevada Rift.
“The current depressed state of the gold
mining industry has allowed NuLegacy to
acquire an important exploration property,
near a major gold deposit (Barrick Gold’s Goldrush), and adjacent to our property boundary, at
minimal cost. In my experience, this is an excellent indication that we are close to a cyclical bottom
for the price of gold and gold mining shares,” stated Albert Matter, NuLegacy Chairman.
NUG:TSXV / NULGF:OTC
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The claim block has potential for both epithermal -style (Mule Canyon, Midas, Fire Creek) and
Carlin-style style (Goldrush, Cortez Hills, Pipeline) gold mineralization. More importantly, the
property contains highly favorable carbonate sedimentary rocks exposed in what is know n as the
“Coal Canyon carbonate window”. Most of the significant Carlin-type gold deposits in Nevada
are hosted within or near “carbonate windows ” where the favorable sedimentary formations,
(Horse Canyon, Wenban, Roberts Mountains and Hanson Creek Formations) are often exposed at
surface or lie at relatively shallow depths beneath cover.
With the acquisition of the new Coal Canyon claims NuLegacy now controls prospective lands
covering two of these “carbonate windows” which include the JD window which hosts the Iceberg,
Serena and Avocado mineralized zones and now the Coal Canyon window.
About NuLegacy Gold Corporation: NuLegacy is a Nevada exploration company focused on discovering additional
Carlin-style gold deposits on its premier district scale 108 sq. km (41.7 sq. mile) Red Hill Project in the prolific Cortez
gold trend of Nevada.
To date NuLegacy has discovered the Iceberg Carlin -style gold deposits and has identified several more highly
prospective exploration targets that are being drilled this year.
NuLegacy’s Red Hill Project 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 amon gst Barrick Gold’s largest, lowest cost and
politically safest gold minesii.
i The similarity and proximity of these deposits (including Goldrush) in the Cortez Trend is not necessarily indicative
of the gold mineralization in NuLegacy’s Red Hill Project.
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.
ON BEHALF OF NULEGACY GOLD CORPORATION
James E Anderson, Chief Executive Officer
For further information, please phone 604 -639-3640 or contact James Anderson (CEO) at [email protected] or Albert Matter
(Chairman) at [email protected] or visit www.nulegacygold.com.
Derick Unger, NuLegacy’s Chief Geologist is a Certified Professional Geologist (CPG 11927) 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.
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 news release.
This news release contains forward -looking statements, which relate to future events or future performance and reflect management’s
current expectations and assumptions. Such forward -looking statements r eflect management’s current beliefs and are based on
assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking 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, actual results of exploration activities, environmental risks, future prices of gold, operating risks,
accidents, labor issues, delays in obtain ing governmental approvals and permits, availability of financing and other risks in the mining
industry. There are no known resources or reserves in the Red Hill Project and the proposed exploration programs are explorat ory
searches for commercial bodies of ore. In addition, the presence of gold deposits on properties adjacent or near the Red Hill Project is
not necessarily indicative of the gold mineralization on the Red Hill Project. All the forward-looking 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. These
forward-looking statements 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 under applicable securities legislation.