RENO, Nev., July 10, 2018 (GLOBE NEWSWIRE) — Further to its news release of July 5, 2018, NuLegacy Gold announces that certain directors and officers of the Company have arranged the sale through the facilities of the TSX Venture Exchange of a total of 2.5 million common shares of the Company from their personal holdings at a price of $0.20 per share. The proceeds from the sale of shares will be used to purchase 2.5 million units of the Company’s non-brokered private placement financing of 15 million units at a price of $0.20 per unit to raise C$3.0 million as announced July 5, 2018.
About NuLegacy Gold Corporation: NuLegacy is a Nevada exploration company focused on discovering additional Carlin-style gold deposits on its premier district scale 98 sq. km (38 sq. mile) Red Hill Project in the prolific Cortez gold trend of Nevada.
To date NuLegacy has discovered the Iceberg Carlin-style gold deposits and has identified several more highly prospective exploration targets that are being drilled this year.
NuLegacy’s Red Hill Project is located on trend and adjacenti to the three multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick Gold’s largest, lowest cost and politically safest gold minesii.
i The similarity and proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in NuLegacy’s Red Hill Project.
ii As extracted from Barrick’s Q4-2013 and Q1-2014 reports. As reported by Barrick, the Goldrush resource contains 8,557,000 indicated ounces of gold within 25.78 million tonnes grading ~10.57 g/t and 1,650,000 inferred ounces within 5.6 million tonnes grading ~9.0 g/t.
On Behalf Of NuLegacy Gold Corporation
James E Anderson, Chief Executive Officer
For further information, please phone 604-639-3640 or contact James Anderson (CEO) at [email protected], Albert Matter (Chairman) at [email protected]d.com or Frank Lagiglia (ICM) at [email protected] or visit www.nulegacygold.com.
Derick Unger, NuLegacy’s Chief Geologist is a Certified Professional Geologist (CPG 11927) 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Read more at http://www.stockhouse.com/news/press-releases/2018/07/10/nulegacy-provides-update-on-15-million-unit#jeUm3WLkSyOJZQpe.99