Mr. Albert Matter reports

NULEGACY CLOSES THIRD AND FINAL TRANCHE OF THE CURRENT PP

NuLegacy has closed the third and final tranche of its previously announced non-brokered private placement of 100 million units at a price of 2.5 cents per unit. The company sold an additional 7,057,500 units for gross proceeds of $176,438, bringing the total offering to 47,721,500 units for aggregate gross proceeds of $1,193,038. Due to the current trading price of the company's shares being in excess of 2.5 cents (the offering price of the units), pursuant to exchange policy, the TSX Venture Exchange would not accept the company's request for a further extension to complete the balance of the offering at a price of 2.5 cents per unit. Market conditions permitting, the company may offer additional units at the current pricing between now and Dec. 11, 2023, prior to receipt of initial assay results from the company's current drill program.

Finders' fees totalling $9,275 in cash and 371,000 non-transferable share purchase warrants to purchase up to 371,000 common shares at a price of five cents per share for a period, subject to acceleration, of five years were paid to certain registered dealers in connection with the third closing. All securities issued under the third closing are subject to a four-month hold period expiring March 28, 2024.

About NuLegacy Gold Corp.

NuLegacy is exploring for high-grade Carlin-style gold deposits on its superbly located 108-square-kilometre (42-square-mile) district-scale Red Hill property. Red Hill is on trend/adjacent (I) to three of Nevada Gold Mines' most profitable multimillion-ounce Carlin-type gold mines: the Pipeline, Cortez and Goldrush (II), with their massive 50-plus-million-ounce gold endowment. These are three of the 30-largest, lowest-cost, highest-grade and politically safest gold mines, producing circa 3 per cent of the world's gold. Each of NuLegacy's seven principals/exploration team members has contributed to the discovery/expansion of one or more of Nevada's seven massive Carlin-style gold deposits.

(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 proven plus probable: 7.8 million ounces of 7.29 grams per tonne; measured and indicated: 8.5 Moz of 7.07 g/t (inclusive of P&P); and inferred: 4.5 Moz of 6.0 g/t (as of Dec. 31, 2021). Source: corporate presentation of Nevada Gold Mines -- Goldrush underground dated Sept. 22, 2022.

Dr. Roger Steininger, a director of NuLegacy, is a certified professional geologist (CPG 7417) and the qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), responsible for approving the scientific and technical information contained in this news release.

We seek Safe Harbor.