NuLegacy Gold Corporation
TSX VENTURE : NUG

NuLegacy Gold Corporation

July 27, 2011 13:59 ET

NuLegacy Gold Prepares to Drill its Wood Hills South Prospect; Updates Red Hill Drilling Progress

RENO, NEVADA--(Marketwire - July 27, 2011) - NuLegacy Gold Corporation (TSX VENTURE:NUG) reports that plotting of the results of the soil sample programs completed on the Wood Hills Prospect against the IP/Resistivity survey results has established several robust drill targets. Permitting is under way to commence a 3,000 meter (~20 holes) drilling program on the Wood Hills later this summer.

The northern half of the 35 square mile Wood Hills South property is now covered with a 70,000 meter soil sample grid with lines spaced approximately 700 meters apart and sampled every 45 meters along the lines. Of the 1,650 samples collected, approximately 15% contained anomalous gold (5 ppb, or greater) to a maximum value of 43 ppb Au. The soils also contain an anomalous Carlin-type pathfinder trace elements suite (arsenic, antimony, and mercury) which is characteristic of the margins of large areas of gold mineralization throughout Nevada.

These anomalous soil samples were plotted against the results of the 30,000 meter IP/resistivity survey which has indicated discontinuous blocks of the bedrock which are likely limestone and dolomite formations containing structural breaks as a result of faulting and/or solution movement.

The correlation of the highly anomalous gold in the soils with these breaks in the bedrock formations indicates these breaks are potentially favorable sites for gold mineralization. Permitting of the drill targets within these breaks is underway for a 3,000 meter program expected to produce approximately 20 holes anticipated to begin in September. These geophysical and geochemical interpretations present a picture similar to that which has been reported for the gold deposits in the Pequop district.

The Wood Hills South Prospect, optioned from Renaissance Gold, is located contiguous to the West Pequop and Long Canyon gold deposits in north-central Nevada which were recently acquired by Newmont for approximately $800 million. Basin and Range faulting has offset the Wood Hills South which may otherwise have been a direct extension of the West Pequop property (located just to the east of Wood Hills) in the Pequop gold district.

Soil samples were collected by North American Exploration, Inc. Kaysville, UT and analyzed by American Assay Laboratories, Inc. Sparks, NV. Sufficient standards, blanks and replicates were submitted with the soil samples to ensure reliable analyses. The IP/resistivity survey was conducted by Zonge Geoscience, Inc. Sparks, NV. The program was designed and supervised by Dr. Roger C. Steininger (CPG 7417), COO NuLegacy Gold, who is responsible for all aspects of the work, including the quality control/quality assurance program.

Red Hill Prospect Update: Eight of the 20+ reverse circulation holes planned for the 2011 Red Hill Prospect exploration program have been completed to depths of approximately 1,500 feet since drilling began in mid-May, 2011. Results from the first four and a half holes were reported on July 5th, and the next three and a half holes completed to date (drilled in the Long Fault anomaly) have been shipped for analyses. Drilling has commenced on the three holes planned for the East Pediment area to be followed by a hole in the Coal Canyon area. Additional drilling is planned for the Long Fault Anomaly once the assays form the recently completed holes have been received.

NuLegacy Gold Corporation is a Nevada based exploration company focused on the discovery of Carlin-type replacement gold deposits on its two highly prospective district scale properties, the 45 square mile Red Hill Prospect and the 35 square mile Wood Hills South Prospect. The exploration and drilling programs underway employ sophisticated techniques for targeting multi-million ounce deposits.

ON BEHALF OF THE BOARD OF DIRECTORS OF NULEGACY GOLD CORPORATION

Albert J. Matter, Chief Executive Officer

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. See the cautionary statement "Forward-Looking Statements" and "Risk Factors" in the Company's prospectus dated November 10, 2010 available on SEDAR at www.sedar.com. 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 does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The technical disclosure in this press release has been reviewed by Dr. Roger Steininger, the Chief Operating Officer of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

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.

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