Mr. Albert Matter reports

NULEGACY GOLD REPORTS NEXT NEW CONSULTANCY

NuLegacy Gold Corp. has provided an update on the second of several new consultancies as part of its strategy to expand its geo-team to increase and capitalize on the values it has established.

The company is welcoming Michael Penick, BS geology, who has joined its team of Carlin-type gold system discovery consultants in developing its 2023 drilling program for its 108-square-kilometre flagship Red Hill property in Nevada's famed Cortez gold trend, one of the world's premier gold mining jurisdictions.

Mr. Penick was an integral part of the exploration team that was responsible for the discovery of the multimillion-ounce Goldrush gold deposit just to the northeast of the company's Red Hill property.

Mr. Penick has had a long and successful career in mineral exploration and management in copper, uranium and, most particularly, gold. Most notably, Mr. Penick held numerous positions in Nevada and globally for Barrick Gold, initially as chief mine geologist at the Betze-Post open-pit Goldstrike mine where he was responsible for mine geology, geotechnical engineering and resource modelling activities.

Later, after serving as geological services manager at Kennecott's Bingham Canyon copper mine, he held the position of chief exploration geologist for Barrick's Cortez district.

Mr. Penick was then promoted to director of United States mine site exploration of numerous Barrick-owned mine camps in the U.S., including the Cortez, Goldstrike, Turquoise Ridge, Bald Mountain and Ruby Hill properties, after which he became part of Barrick's efforts in exploration support on all global mine sites as manager pf Minex.

Both Nancy Richter, formerly U.S. exploration manager, Barrick Gold Exploration Inc., who recently became a consultant to NuLegacy Gold, and the company's long-time exploration manager, Charles Weakly, worked under Mr. Penick's guidance while at Barrick.

Together, they will focus the company's summer 2023 drilling program and select the five or six best holes to be drilled initially out of the 25-plus possible drill sites that the geo-crew has selected.

The rigorous drill hole selection process, which was started with a geo-technical review session held in Reno March 6 to 7, is scheduled to be completed by May 8 to 9 in Elko, (coincident with its touring the property with a number of friends of the court) with the intent of making a discovery, or further narrowing the field of opportunity. Preliminary information thereon will be made available shortly.

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 the company's current treasury (approximately $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, the company plans to announce a modest equity unit financing.

About NuLegacy Gold Corp.

NuLegacy Gold is focused on confirming potential high-grade Carlin-style gold deposits within its flagship 108-square-kilometre district-scale Red Hill property in the Cortez gold trend of Nevada. The targets are on trend and adjacent to three multimillion-ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which are ranked amongst the world's 30 largest, lowest-cost and politically safest gold mines and are three of Nevada Gold Mines' most profitable mines.

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