Mr. Albert Matter reports

NULEGACY UPDATES PRIVATE PLACEMENT CLOSING

NuLegacy Gold Corp. has scheduled an initial closing of its previously announced non-brokered private placement of 100 million units at a price of 2.5 cents per unit for gross proceeds of $2.5-million for Nov. 3, 2023. The initial closing will consist of 30,664,000 units for gross proceeds of $766,600 including the participation by certain directors and officers of the company totalling 16.1 million units. A second closing of the offering including the lead order for 10 per cent of the offering by Crescat Capital is expected by mid-November. The TSX Venture Exchange has granted the company an extension to complete the offering until Nov. 26, 2023.

In addition to financing the planned drill program on the company's 108-square-kilometre Red Hill property in the Cortez gold trend of Nevada, $181,818 (U.S.) from the net proceeds of the offering will be used to satisfy in cash certain exploration expenditures required under the company's mining lease with Idaho Resources Corp. (IRC) covering the eastern portion of the Red Hill property. In turn, the parent company of IRC has subscribed for 10 million units of the offering for a purchase price of $250,000 and will be included in the initial closing. All securities issued pursuant to the initial closing will be subject to a four-month hold period expiring March 4, 2024.

About NuLegacy Gold Corp.

NuLegacy's focus is discovering a high-grade Carlin-style gold deposit on its flagship 108-square-kilometre (42-square-mile) district-scale Red Hill property in the Cortez gold trend of Nevada directly on trend and adjacent to three multimillion-ounce Carlin-type gold deposits (Pipeline, Cortez Hills and Goldrush) that are ranked amongst the world's 30 largest, lowest-cost, highest-grade and politically safest gold mines, and are three of Nevada Gold Mines' most profitable mines.

We seek Safe Harbor.