NuLegacy Gold Corporation
TSX VENTURE : NUG
PINKSHEETS : NULGF

NuLegacy Gold Corporation

November 07, 2013 16:15 ET

NuLegacy Gold Arranges $2.0 Million Share Exchange Financing

RENO, NEVADA--(Marketwired - Nov. 7, 2013) -

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

NuLegacy Gold Corporation (TSX VENTURE:NUG)(PINKSHEETS:NULGF) has arranged a share exchange financing transaction with Global Resources Investments Ltd. ("GRIT") a U.K. based company, whereby NuLegacy Gold will, on closing, issue 20,000,000 common shares only of NuLegacy (circa 18.2% of the then outstanding shares) at a deemed price of C$0.10 per share ($2.0 million) in return for 1,193,175 GRIT ordinary shares at a deemed price of 1 British Pound per share.

Global Resources Investments Ltd., established to fund investments in the junior mining and natural resources sectors worldwide, intends to re-register as a public company and investment trust upon admission of its ordinary shares for listing on the London Stock Exchange. As a term of the transaction, GRIT has agreed to certain resale restrictions on the NuLegacy Gold shares including voting its NuLegacy shares as recommended by the board of directors of NuLegacy for a period of 3 years. NuLegacy intends to use the net proceeds from the subsequent sale of GRIT Shares, together with the proceeds from its concurrent non-brokered private placement announced on September 26, 2013, to fund further exploration and delineation of its Iceberg gold deposit in Nevada, U.S.A., and for general corporate purposes.

Closing of the transaction is subject to a number of conditions precedent including acceptance of the TSX Venture Exchange and the GRIT listing on the London Stock Exchange. The Company may pay a finder's fee in connection with the transaction in accordance with the policies of the TSX Venture 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

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 proposed share exchange financing with GRIT will be completed in whole or in part or that the market value of the GRIT Shares at the time of sale by NuLegacy will be equal to or exceed the subscription price of 1 British Pound per share. 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.

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