NuLegacy Gold Corporation
TSX VENTURE : NUG

NuLegacy Gold Corporation

September 26, 2013 16:30 ET

NuLegacy Gold Announces 10 Million Unit Private Placement

RENO, NEVADA--(Marketwired - Sept. 26, 2013) - NuLegacy Gold Corporation (TSX VENTURE:NUG) announces, subject to acceptance of the TSX Venture Exchange (the "Exchange"), a non-brokered private placement of 10 million units ("Units") at a price of $0.10 per Unit to raise $1.0 million (the "Offering").

Each Unit consists of one common share and one full share purchase warrant, with each warrant entitling the holder to purchase one additional common share for a period of three years, subject to acceleration, at an exercise price of $0.15 for the first 18 months and $0.20 thereafter. The Issuer reserves the right to increase the size of the Offering in its sole discretion.

The net proceeds of the Offering will be used to finance further exploration of the Company's Red Hill project in Nevada, United States and for general corporate purposes. The Company may pay a finder's fee in connection with the Offering in accordance with the policies of the Exchange.

NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating the near-surface Iceberg oxide gold deposit on its 60 square km Red Hill option with Barrick Gold. 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

For further information please visit our website at www.nulegacygold.com.

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. 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. Furthermore, there are no assurances that the Company will be successful in completing the proposed Offering in whole or in part in order to finance its proposed work programs. 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.

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.

Contact Information