RENO, NEVADA--(Marketwired - Oct. 17, 2013) - NuLegacy Gold Corporation (TSX VENTURE:NUG)(PINKSHEETS:NULGF) is pleased to announce the enrollment of Mr. Alex Davidson as Corporate Advisor to NuLegacy.
Mr. Davidson is a recognized leader in designing, implementing and managing highly successful and strategic gold and base metal exploration and acquisition programs throughout the world.
Until 2009 he was the Executive Vice-President of Exploration and Corporate Development of Barrick Gold Corporation with responsibility for all its international exploration programs and corporate development activities. During his tenure he was instrumental in the acquisition of the Cortez gold complex in Nevada (from Placer Dome Inc.), and the discovery of the Lagunas Norte deposit in Peru, two of Barrick's five key mines.
In 2003, Mr. Davidson was named the Prospector of the Year by the Prospectors and Developers Association of Canada in recognition for his team's discovery of the Lagunas Norte mine in the Alto Chicama District, Peru.
In 2005 Mr. Davidson was presented that year's A.O. Dufresne Award by the Canadian Institute of Mining, Metallurgy and Petroleum in recognition of his exceptional achievements and distinguished contributions to mining exploration in Canada and around the world. He received his B.Sc. and his M.Sc. in Economic Geology from McGill University.
"We are fortunate to have Mr. Davidson's influence and expertise to assist us in capitalizing on the value of NuLegacy's highly prospective Iceberg gold deposit," says James Anderson, NuLegacy's CEO. "With Mr. Davidson's participation we expect to be able to accelerate the delineation of the Iceberg gold deposit and the exploration of the three additional highly prospective targets we have identified."
The 60 sq. km property which hosts the Iceberg gold discovery is in the heart of the Cortez trend directly adjacent to Barrick Gold's multi-million ounce Goldrush discovery. It is on strike with the three Carlin-type gold deposits(i) that comprise Barrick's Cortez mining complex which are amongst the largest and lowest cost gold deposits in the world. With a combined gold endowment in excess of 50 million ounces the Cortez produces approximately 1.5 million ounces per year for Barrick at a remarkable low AISC (all inclusive sustaining cost) of $376/ounce (versus firm average of $919/ounce).
NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating the near-surface Carlin-type Iceberg oxide gold deposit on its 60 square km Red Hill optioned from Barrick Gold. The Iceberg deposit has geology similar to that of Barrick Gold's on-going multi-million ounce Goldrush gold discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF NULEGACY GOLD CORPORATION
James E Anderson, Chief Executive Officer
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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. The economics of exploring and developing mineral resource properties are affected by many factors including, but not limited to, the cost of exploration and development programs, operational risks and unexpected geological formations, variations in mineral content and grades, conclusions of economic evaluations, fluctuations in commodity prices, potential environmental damage, title matters and the availability of capital. 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. 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 26, 2013 for the year ended March 31, 2013. 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.
 They are the Pipeline, Cortez Hills and Goldrush deposits. The largest of these, the 21+ million ounce Pipeline mine, was discovered by NuLegacy's COO, Dr. Roger Steininger in 1989 on behalf of Royal Gold while the property was optioned from Placer Dome Ltd.