RENO, NEVADA--(Marketwired - Sept. 21, 2016) - NuLegacy Gold Corporation (TSX VENTURE:NUG)(OTCQX:NULGF) has engaged Zenith Premier Ltd., a private company based in Dublin, Ireland and controlled by Mr. Birol Nadir, as an independent consultant to provide investor relations services to the Company.
Zenith's services will include communicating with industry analysts, institutions, high net worth individuals and brokerages primarily in Europe and the Middle East and providing investor relations services and corporate communication strategies for these markets. The engagement is for an initial term of six months, subject to renewal, and will be funded out of the Company's general working capital. In consideration for its services, during the initial term of the contract Zenith, will receive a per diem fee of £500 and stock options rights that would vest over three years to purchase 900,000 shares of the Company at an exercise price of C$0.40 per share for a period of five years. Either party may terminate the engagement upon 30 days notice.
The Company has also granted stock options to certain other consultants for an additional 850,000 common shares at a price of C$0.40 per share exercisable for a period of five years.
About NuLegacy: NuLegacy Gold Corporation is a Nevada based 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 tonnei, and exploring for additional gold deposits on its 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 assetsiii.
i 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.
ii The similarity and close proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in the Iceberg deposit.
iii 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. 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 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.