~ Nets C$11.75 million ~

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) — NuLegacy Gold Company is happy to report the closing of the 100,000,000 items (the “Models”) non-public placement at a worth of C$0.125 per Unit to boost gross proceeds to the Firm of C$12.5 million (the “Providing”) introduced January 9, 2021.

Every Unit consists of 1 frequent share of the Firm (a “Widespread Share”) and one transferable Widespread Share buy warrant (a “Warrant”). Every Warrant entitles the holder to accumulate one Widespread Share of the Firm at an train worth of C$0.20 for a interval of 36 months from in the present day.

NuLegacy’s CEO Albert Matter feedback that“We’re all very grateful for the help from our present shareholders and the monetary neighborhood, significantly Canaccord-Genuity (Monetary Advisor) and Crescat Capital (Lead order) and their representatives, in addition to a number of new brokerage supporters together with Echelon Companions; additionally am recognizing our company workers’s extraordinary efforts in closing this PP in 5 enterprise days.

Finishing this financing presently was supported by our Chairman Alex Davidson, Advisor Quinton Hennigh and myself underwriting within the combination as much as the 25% most quantity permitted by associated events below MI 61-101 exemptions. Finishing the financing was vital because it permits NuLegacy to begin contracting for the a lot greater and dearer deep drilling rigs and the superior drillers wanted that can quickly be in brief provide because the contracting season for Nevada’s 2021 drilling season is underway…and that’s not like texting for an Uber. This financing will allow us to speed up the expanded Spring/Summer season 2021 drilling program, and I thank everybody concerned for placing NuLegacy in that place, ‘thanks’.”

The difficulty has been closed with 100% of it subscribed for and documented, 82% funded as at this date, and the stability of the funding pending with supply of funds undertaken for Monday, Jan 18^th. The online proceeds of the Providing can be used to hold out an expanded exploration program on the Rift Anticline past the 12 core holes at the moment deliberate for the Spring-Summer season 2021 drilling program, in addition to for normal company and dealing capital functions.

Sure administrators and officers of the Firm have participated within the Providing for an combination quantity of seven,850,000 Models up to now for a complete C$981,250. Such portion of the Providing with insiders constituted a “associated social gathering transaction” for the needs of Multilateral Instrument 61-101, Safety of Minority Safety Holders in Particular Transactions (“MI 61-101”) and NuLegacy relied upon exemptions from the requirement to acquire a proper valuation and search minority shareholder approval for the Providing on the premise that the truthful market worth of the participation by such insiders is lower than 25% of NuLegacy’s present market capitalization. The fabric change report filed in reference to the participation of insiders within the Providing was filed lower than 21 days prematurely of the closing of the Providing, which the Firm deemed affordable inside the context of present market situations and its accelerated drilling and exploration program.

All securities issued in reference to the Providing are topic to a 4 month maintain interval which, for in the present day’s securities, expires Could 16, 2021. The Firm has additionally paid finder’s charges in money, shares and/or warrants to sure finders and/or advisors in reference to the sale of Models in accordance with the insurance policies of the TSXV.

On development:NuLegacy Gold
is concentrated on confirming high-grade Carlin-style gold deposits inside the ~ 6 sq. km Rift Anticline goal within the northwest nook of its flagship 108 sq. km (42 sq. mile) district scale Pink Hill Property within the Cortez gold development of Nevada. The Rift Anticline goal is
situatedon trend and adjacent^Ito the three, multi-million ounceCarlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are ranked amongst the world’s thirty largest, lowest price and politically most secure gold mines and are three of Nevada Gold Mines’ most worthwhile mines.^II

^I The similarity and proximity of those deposits within the Cortez Pattern together with Goldrush should not essentially indicative of the gold mineralization in NuLegacy’s Pink Hill Property.
^II As extracted from Barrick’s This autumn-2013 and Q1-2014 stories. As reported by Barrick, the Goldrush useful resource incorporates 8,557,000 indicated ounces of gold inside 25.78 million tonnes grading ~10.57 g/t and 1,650,000 inferred ounces inside 5.6 million tonnes grading ~9.0 g/t.

Dr. Roger Steininger, a Director of NuLegacy, is a Licensed Skilled Geologist (CPG 7417) and the certified individual as outlined by NI 43-101, Requirements of Disclosure for Mineral Initiatives, chargeable for approving the scientific and technical info contained on this information launch.

On Behalf of the Board Of NuLegacy Gold Company

Albert Matter
Chief Govt Officer & Director
Tel: +1 (604) 639 – 3640
E mail: albert@nuggold.com

For extra details about NuLegacy go to: www.nulegacygold.com or www.sedar.com.

This new launch doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any of the securities in america. The securities haven’t been and won’t be registered below the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities legal guidelines and will not be provided or offered inside america or to or for the account or good thing about a U.S. individual (as outlined in Regulation S below the U.S. Securities Act) until registered below the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is on the market.

Cautionary Assertion on Ahead-Wanting Info:This information launch incorporates forward-looking info and statements below relevant securities legal guidelines, which info and/or statements relate to future occasions or future efficiency (together with, however not restricted to, the ultimate measurement and date of closing of the Providing and the proposed use of proceeds; the potential nature of the Rift Anticline goal and proposed exploration and drilling applications thereon and the timing and prices thereof) and mirror administration’s present expectations and beliefs primarily based on assumptions made by and knowledge at the moment out there to the Firm. Readers are cautioned that such forward-looking info and statements are neither guarantees nor ensures, and are topic to dangers and uncertainties which will trigger future outcomes to vary materially from these anticipated together with, however not restricted to, precise outcomes of exploration actions, unanticipated geological, stratigraphic and structural formations, environmental dangers, working dangers, accidents, labor points, delays in acquiring governmental approvals and permits, the provision of financing, market situations, future costs for gold, adjustments in personnel and different dangers within the mining business. There aren’t any recognized assets or reserves within the Pink Hill Property, any proposed exploration applications are exploratory searches for industrial our bodies of ore and the presence of gold assets on properties adjoining or close to the Pink Hill Property together with Goldrush isn’t essentially indicative of the gold mineralization on the Pink Hill Property. Tright here can be uncertainty concerning the unfold of COVID-19 and the influence it can have on the Firm’s operations, personnel, provide chains, capacity to entry properties or procure exploration tools, contractors and different personnel on a well timed foundation or in any respect and financial exercise usually.All of the forward-looking info and statements made on this information launch are certified by these cautionary statements and people in our steady disclosure filings out there on SEDAR atwww.sedar.com. The forward-looking info and statements on this information launch are made as of the date hereof and the Firm doesn’t assume any obligation to replace or revise them to mirror new occasions or circumstances save as required by relevant regulation.

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.