Mr. Albert Matter reports

NULEGACY GOLD REPORTS CLOSING OF COST RATIONALIZATION AGREEMENT

NuLegacy Gold Corp. has completed the issuance of 42 million units at a deemed price of one cent per amendment unit to Metalla Royalty & Streaming Ltd. in consideration for Metalla eliminating the company's obligation to incur annual exploration expenditures of $150,000 (U.S.) for calendar years 2024 and 2025 on the unpatented mining claims forming part of NuLegacy's Red Hill property governed by mining lease between the company's wholly owned U.S. subsidiary, NuLegacy Gold Corp. NV, and Idaho Resources Corp., a subsidiary of Metalla, as originally announced on Aug. 15, 2024.

Each amendment unit consists of one common share of the company and one warrant to purchase an additional common share at a price of five cents for a period of five years, subject to repricing and acceleration, if applicable, in the event the company's proposed 1:25 reverse split/consolidation, also announced Aug. 15, 2024, is approved by shareholders at the company's upcoming annual general meeting on Oct. 7, 2024, and the TSX Venture Exchange. All securities issued to Metalla are subject to a four-month hold period expiring Jan. 7, 2025.

With the issuance of the amendment units to Metalla now complete, the company intends to refocus its efforts on completing the balance of the 100 million private placement units announced Aug. 15, of which $452,000 (45.2 million units) were closed on Aug. 27, 2024, with a second closing anticipated before the end of September or such earlier time as completed.

About NuLegacy Gold Corp.

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 (1) three of Nevada Gold Mines' most profitable multimillion-ounce Carlin-type gold mines, the Pipeline Cortez and Goldrush (2), with their massive 50-million-plus-ounce-gold endowment. These are three of the world's 30 largest, lowest-cost, highest-grade and politically safest gold mines, producing annually approximately 3 per cent of the world's gold.

(1) 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.

(2) Currently structured as an underground mine, Goldrush contains P&P (proved and probable): 7.8 million ounces (oz) at 7.29 grams per tonne (g/t); M&I (measured and indicated): 8.5 million oz at 7.07 g/t (inclusive of P&P); and inferred: 4.5 million oz at 6.0 g/t (as of Dec. 31, 2021). Source: corporate presentation of Nevada Gold Mines, Goldrush underground, dated Sept. 22, 2022.

We seek Safe Harbor.