Mr. Albert Matter reports

NULEGACY COMPLETES SECOND HOLE OF FIVE HOLE PROGRAM

NuLegacy Gold Corp. has completed the first two reverse circulation drill holes (Mid-rift (MR2023-01) and Iceberg South (IS23-02)) of its five-hole fall 2023/winter 2024 drilling program with the sample chips shipped to the assay lab for prep and assaying.

The assay results for MR23-01 (drilled Nov. 11 to Nov. 21) are expected in mid-December, and results for IS23-02 (drilled Nov. 22 to Dec. 6) with the intervening Christmas break are expected in late January, 2024.

Weather conditions in Nevada have made drilling conditions hazardous and more expensive. As a result, the company has agreed with the drilling contractor for an early Christmas break for equipment repairs and maintenance with a resumption in the new year when the frost has gone deep enough to freeze the roads solid.

As reported Nov. 27, due to the trading price of the company's shares having exceeded the 2.5 cents offering price of the company's recent non-brokered unit private placement, the TSX Venture Exchange, pursuant to exchange policy, would not accept the company's request for a further "extension" to complete the balance of the offering at 2.5 cents per unit. Market conditions permitting, the company intends to initiate a new offering of additional units in the new year, priced in the context of the market at that time.

About NuLegacy Gold Corp.

Exploration: NuLegacy is focused on exploring for high-grade Carlin-style gold deposits on its premier 108-square-kilometre (42-square-mile) district-scale Red Hill property.

The Red Hill is on trend/adjacent to three of Nevada Gold Mines' most profitable multimillion-ounce Carlin-type gold mines; the Pipeline, Cortez and Goldrush with their massive 50-plus-million-ounce gold endowment. These are three of the world's 30 largest, lowest-cost, highest-grade and politically safest gold mines, producing annually circa 3 per cent of the world's gold.

Seven of NuLegacy's principals/exploration team members have contributed to/participated in the discovery/expansion of one or more of all seven of Nevada's massive Carlin-style gold deposits.

Other activities: With the continuing recovery in the price of gold to circa $2,000 (U.S.) (plus/minus $200) making gold mining considerably more profitable (as evidenced by the industry's highest dividend payout ratios in more than 20 years), in addition to making a discovery on the company's premier flagship Red Hill property with its numerous prospective targets, NuLegacy's focus will include:

• Establishing the viability of mining-shipping the mineralized material in the Iceberg corridor (North, Serena and Central zones);
• Engaging with potential joint venture partners to assist NuLegacy in making that viability determination and financing a positive decision;
• Establishing a paying royalty portfolio to, at a minimum, cover the annual continuing cost (about $425,000 (U.S.)) of maintaining NuLegacy's ownership/control of the prized Red Hill property;
• And, mindful that the company has, in its opinion, the best Carlin-exploration team;
• Promoting the Red Hill to companies with the requisite engineering, construction and production management to develop any future discovery at Red Hill;
• Engaging with neighbouring landowners to review potential synergies/opportunities.

We seek Safe Harbor.