Mr. Albert Matter reports

NULEGACY REPORTS RESULTS FOR 1ST HOLE OF 2023 DRILLING PROGRAM

The geology NuLegacy Gold Corp. intersected in MR23-01 is relatively close to that predicted. The Migo fault is located as projected, and it intersected 56.4 metres (185 feet) of Devonian Wenban5 formation thickness starting in the hangingwall within the targeted fault corridor.

The anticipated Cretaceous diorite and metamorphic alteration was intercepted within the Wenban5 target zone with only anomalous gold mineralization at the approximate center of the Cretaceous diorite and metamorphic alteration.

Assay results from MR23-01 (azimuth 60 degrees, inclination 50 degrees) reported several intervals of anomalous gold values (cut-off at 0.10 gram gold/tonne) the most significant of which is 0.013 to 0.677 gram of gold/tonne at a depth of 1,570 to 1,645 feet that averages 0.091 gram of gold/tonne.

The geology intersected directly under the volcanics was lower in the section, suggesting bedding dips are steeper than anticipated between the Iceberg corridor and the Mid-Rift target, possibly indicating a local anticline that could enhance the target.

"The geological features encountered in the drill hole confirms that we are on the right path with the exploration model," commented Dr. Steininger, NuLegacy's director, exploration. "Once the supporting geochemical data is received a more instructive geological representation will be available and allow for a reexamination of the Mid-Rife target concept."

The company has requested the assay lab expedite/rush assay for the second completed hole (IS23-01) of the five-hole Midrift program, as the company will need to assess it before committing to drilling more of the program's holes in this lengthy and as yet largely untested target zone.

Sampling methodology, chain of custody, quality control and quality assurance

All sampling was conducted under the supervision of the company's project geologist and the chain of custody from the project to the independent sample preparation facility, American Assay Labs, in Sparks, Nev., was continuously monitored. The samples were crushed, pulverized and sample pulps were analyzed using industry standard fire assay methods. A blank or certified reference material was inserted approximately every 20th sample. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.

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.

Dr. Roger Steininger, a Director of NuLegacy, is a Certified Professional Geologist (CPG 7417) 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.

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