NuLegacy Gold Corporation
TSX VENTURE : NUG
PINKSHEETS : NULGF

NuLegacy Gold Corporation

November 12, 2013 16:15 ET

NuLegacy Closes Initial Tranche of 10 million Unit Private Placement

RENO, NEVADA--(Marketwired - Nov. 12, 2013) -

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

NuLegacy Gold Corporation (TSX VENTURE:NUG)(PINKSHEETS:NULGF) reports that it has closed an initial tranche of 7.23 million units of the 10 million unit non-brokered private placement being offered at a price of $0.10 per unit (announced September 26th, 2013) for gross proceeds of $723,000.

Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share of the Company for a period of 36 months, subject to acceleration, at a price of $0.15 during the first 18 months and $0.20 during the last 18 months.

The net proceeds will be used to finance the Company's exploration programs on its Iceberg gold project in Nevada, United States and for general corporate purposes. The Company may pay a finder's fee in connection with the financing in accordance with the policies of the TSX Venture Exchange.

The funds from this private placement together with the anticipated proceeds from the share exchange financing announced November 7, 2013 should be sufficient to complete the exploration programs required to earn-in NuLegacy's 70% interest in the Iceberg gold deposit.

All securities issued in connection with the initial closing are subject to a four month and one day hold period expiring March 13, 2014.

NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating the near-surface Iceberg oxide gold deposit on a 60 square km property in the heart of the Cortez trend of Nevada optioned from Barrick Gold Corporation. The Iceberg deposit has similar geology to that of Barrick Gold's on-going multi-million ounce Goldrush gold discovery.

On Behalf Of The Board Of Directors Of NuLegacy Gold Corporation

James E Anderson, Chief Executive Officer

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 on the Iceberg deposit or the Red Hill project and the proposed exploration programs are exploratory searches for commercial bodies of ore. In addition, the presence of gold deposits on properties adjacent or in close proximity to the Red Hill project is not necessarily indicative of the gold mineralization on the Red Hill project. All of 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 30, 2012 for the year ended March 31, 2012. 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.

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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