NuLegacy Gold Corporation

NuLegacy Gold Corporation

May 29, 2012 15:55 ET

NuLegacy Provides Nevada Gold Exploration Update

RENO, NEVADA--(Marketwire - May 29, 2012) - NuLegacy Gold Corporation (TSX VENTURE:NUG) provides an update on the ongoing exploration programs at its Red Hill and Wood Hills South Projects in Nevada, U.S.A.

Red Hills Project Summary: The 100 sq. km Red Hill Project straddles the Cortez Gold Trend and is immediately adjacent to Barrick Gold Corp.'s new and rapidly expanding multi-million ounce Goldrush discovery. We understand that Barrick is currently drilling with 14 rigs at Goldrush!

With an early start because of a dry winter and double shifting of the drill crews twelve holes of the 20+ hole 2012 drilling program have been completed this spring on NuLegacy's Red Hill Project. The program is designed to test the cluster of four gold-bearing Carlin-style systems1 identified to date on the Red Hill Project that have similar geology as the Carlin-style system hosting Barrick's Goldrush discovery immediately to the north-west.

Partial assays are arriving for the first holes drilled earlier this year. We anticipate being able to provide complete results for the first four holes by early June and then reporting two to four holes every couple of weeks thereafter. It is anticipated that the drilling program will recommence later this summer when the results of the first twelve holes have informed and focused the selection of the next series of holes on this property.

Red Hill Details: The first core hole of the program (RHM12-013C - meaning Red Hill project, Miranda option, in 2012, hole 013Core) was drilled just west end of the Long Fault Anomaly2 to intersect/transverse the mineralized zone discovered in the historical reverse circulation hole BRH-13 (45 feet of 0.24 oz. of gold/ton or 13.7 m of 8.11 g/T).

RHM12-013C was angled to the south at -75 degrees and is currently being sawed and logged in preparation for assaying. It was completed to 2,645 feet (800m), deeper than the original 2,500 foot (760m) planned as we intersected another horizon of the black carbonaceous pyritic rock that commonly hosts the ore-grade sulphide gold mineralization in the Cortez's Carlin-style deposits.

The core has several intersections of this favorable (black carbonaceous pyritic limestone) material both above and around the BRH-13 mineralized horizon (circa 1,800 feet/550m) and again at depth to 2,645 feet (800m). This core will provide a more detailed view of the geology and assist in determining controls for this higher grade gold mineralization.

The first reverse circulation (RC) hole of this year's Red Hill exploration program (RHB12-004) was drilled into the Central Pediment Anomaly (within the 60 sq. km Barrick Gold option - ABX-T) to a depth of 2,500 feet (760m) in limestone with abundant calcite veining. It was designed as a reconnaissance test of the recently discovered deep induced polarization anomaly (the Central Pediment Anomaly NR Jan 18, 2012).

Six reverse circulation exploration holes have been completed in the Long Fault Anomaly (within the 10 sq. km Miranda option) (TSX VENTURE:MAD). Several of these holes show significant intersections of favorable material: i.e. hole RHM12-017 contains a 315 foot (96m) zone of silicified, brecciated, quartz veined, and iron-oxide rich rock (which is often associated with ore-grade oxidized gold mineralization in Nevada), along with two deeper 20-30 foot intervals of quartz-pyrite. The last two of the six holes were completed on the eastern margin of the Long Fault Anomaly; they contained significant pyrite in favorable rocks units.

1 View the four systems (Long Fault Anomaly, Central Pediment Anomalies, Central Mineralized Zone and Jasperiod Basin) at and the drill map at

2 View graphic at

The two holes drilled in the Central Mineralized Zone (RHB12-005 and 006) were completed to 1,500 feet (457m) and contain significant zones of alteration. Both holes encountered abundant iron oxides in limestone (from near-surface to 900 feet (275m) in hole 005 and 600 feet (180m) in hole 006), below which the mineralization contains disseminated pyrite. This may be an extension of the gold mineralization encountered last year in RHM11-003 (85 feet of 0.14 gold g/t).

The last two holes on the Red Hill Project were completed on the East Pediment and are currently being logged.

Wood Hills Summary: The 100 sq. km Wood Hills South Project is contiguous to the West Pequop deposit and multi-million ounce 'Carlin-type' Long Canyon gold deposits recently acquired by Newmont Mining Corp. for approximately $1.8 billion.

The Wood Hills Project (optioned from Renaissance Gold (REN-T) successor to AuEx Ventures Inc.) has similar geology to the AuEx's adjacent Long Canyon gold discovery. The Project's gold-bearing system appears to have been offset (by basin and range faulting) thus management believes that its gold mineralization is likely an extension of the Pequop Gold Trend to the east (

Wood Hills Details: We have finished logging the drill chips from the twenty-hole 2012 reconnaissance drilling program and concluded a detailed analysis of all of the data that we have developed on the property.

Our micro-gravity survey results combined with all of the other geochemical and geophysical data generated to date are being used to develop the targets for the next round of drilling focusing on the areas of potentially higher-grade mineralization. We anticipate having a drilling plan developed by early June for permitting and drilling by mid-August/early September this year.

The interpretations of the gravity surveys (commissioned as follow-up to the anomalous gold mineralization found in the 20 hole reconnaissance drilling program) have outlined several large gravity lows. These appear to be the favorable disruptions in the limestone blocks (caused by a combination of fault intersections, collapse features, and/or decalcified zones) that serve as channel-ways and hosts for the gold bearing solutions to permeate and possibly form larger volumes of higher grade gold mineralization (as at the Long Canyon deposit just across the valley).

Hole WHS11-007 (an impressive near surface and oxidized 10.7 meter interval that averaged 0.40 g/t gold within approximately 60 meters of anomalous gold mineralization with associated Carlin-style trace elements) appears to have encountered one of the limestone 'country rock' blocks just 150 meters east of such a favorable area. And several other holes with anomalous gold also appear to be at the margins of some of these favorably disrupted zones suggesting that there are indications of several more areas of gold mineralization. The next round of drilling will be designed primarily to follow-up on the WHS11-007 intercept and these other favorable targets.

Reverse circulation drilling on the Red Hills is by Envirotech Drilling LLC of Winnemucca, NV; core drilling by National EWP, LLC of Woodland, CA, all under the direction and supervision of NuLegacy Gold's COO, Dr. Roger Steininger (CPG 7417). All of the samples will be analyzed by American Assay Labs (Sparks, NV) for gold and a suite of 36 trace elements.

NuLegacy Gold Corporation is a Nevada focused exploration company exploring for Carlin-type replacement gold deposits on its two highly prospective district scale properties; the 100 km2 Red Hill Project and the 100 km2 Wood Hills South Project. Both projects have geology similar to the adjacent multi-million ounce gold discoveries that were made subsequent to the acquisition of our properties. The NuLegacy exploration and drilling programs underway employ proprietary 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 and the accompanying graphic links contain 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 and the accompanying graphic links are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at including our prospectus dated November 10, 2010. 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 and the accompanying graphic links 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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