RENO, NEVADA--(Marketwired - Dec. 6, 2016) - NuLegacy Gold Corporation (TSX VENTURE:NUG)(OTCQX:NULGF) is pleased to report the appointment of Mr. Alan R. Hill to its board of directors.
"Mr. Hill's impressive experience in building mines will assist NuLegacy in determining the economic viability of its gold deposits in the Cortez trend of Nevada," says Albert Matter, NuLegacy's Chairman.
Mr. Hill is Chairman of Teranga Gold Corporation, a multijurisdictional West African gold company profitably producing approximately 200,000 ounces of gold per year in Senegal. Mr. Hill holds an undergraduate degree in mining engineering and a graduate degree in rock mechanics from Leeds University in the U.K.
During his remarkable 30 years in the mining industry Mr. Hill led the acquisition of numerous deposits and the building of seven mines on four continents. More specifically, as Executive Vice President of Barrick Gold Corporation he oversaw project evaluations and development of four of Barrick's major mines; the Goldstrike mine in the Carlin trend of Nevada, the Pierna mine in Peru, the Veladero mine in Peru and the Bulyanhulu mine in Tanzania.
Mr. Hill has been a director of Gold Fields Limited since 2009 and served as Non-Executive Chairman of Alamos Gold Inc. from 2004 to 2007 during the construction of its Mulatos gold mine in Mexico.
"Alan is an adventurous soul who works hard, plays hard, and maintains a sense of humour at all times," says Alex Davidson, a NuLegacy Gold director. "He is a great teambuilder as well as a great mine builder who has pioneered numerous social and community developments projects at these highly successful mines sites."
We also report that Mr. Richard Wells (CFO of Waterton Global Resource Management, Inc.), who has served NuLegacy well as Waterton's representative director on NuLegacy's board of directors, is stepping down. This will allow Waterton to focus on its wholly owned precious metals projects.
NuLegacy Chairman Albert Matter expressed his gratitude. "We were delighted to have had Richard's guidance and Waterton's investment (as reported August 2014) at a critical juncture in NuLegacy's development and that it was a profitable experience for Waterton."
About NuLegacy: NuLegacy Gold Corporation is an advanced stage Nevada exploration company focused on expanding its Carlin-style near-surface Iceberg oxide gold deposit with an established exploration target of 90-110 million tonnes of 0.9 to 1.1 grams of gold per tonne(i), and exploring for additional gold deposits on the 38-sq. mile (98-sq. km) Red Hill property located in the Cortez gold trend of Nevada.
The Iceberg gold deposit has similar geology to that of Barrick Gold's multi-million-ounce Pipeline deposit, the discovery of which is credited to NuLegacy's Chief Geoscience Officer, Dr. Roger Steininger. The Iceberg is located on trend and adjacent(ii) to three of Barrick Gold`s multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick's lowest cost and politically safest gold assets(iii).
||These figures are conceptual in nature and derived from a compilation of 149 historic and 34 NuLegacy drill holes in and around the Iceberg deposit. To date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
||The similarity and proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in the Iceberg deposit.
||As extracted from Barrick's Q4-2013 and Q1-2014 reports.
On Behalf Of NuLegacy Gold Corporation
James E Anderson, Chief Executive Officer
Dr. Roger Steininger, NuLegacy's Chief Geoscience Officer, 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 preparing and reviewing 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.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. There are no known resources or reserves in the Iceberg deposit and the proposed exploration programs are exploratory searches for commercial bodies of ore. In addition, the presence of gold deposits on properties adjacent or near the Iceberg Deposit is not necessarily indicative of the gold mineralization on the Iceberg Deposit. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including our annual management's discussion and analysis dated July 28, 2016 for the year ended March 31, 2016. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.