April 26, 2016
Major Gold Fund Acquires Equity Position
~ Tocqueville Gold Fund acquires 19.5 million shares of NuLegacy Gold ~
April 26, 2016 - Reno, NV
- NuLegacy Gold Corporation reports that on April 19, 2016 the Tocqueville Gold Fund acquired 19.5 million shares of NuLegacy Gold at C$.20/share through an open market transaction.
The long established and renowned gold fund co-managed by John Hathaway and Doug Groh is part of the Tocqueville Private Wealth Management group of funds established to serve the long-term investment needs of high net worth families and individuals. The New York-based Tocqueville is an employee-owned group of professionals who base their decisions on their own rigorous, in-depth research and thorough knowledge of every investment position in each portfolio with emphasis on undervalued and out-of-favor assets.
Global Resources Investment Trust PLC ("GRIT"), a British resource investment trust, which supported NuLegacy during the worst of the bear market, was pleased to be able to liquidate part of its resource investment portfolio profitably.
- NuLegacy is an advanced stage exploration company focused on developing its district-scale Carlin-type oxidized Iceberg gold deposit located on 38 sq. mile (98 sq. km) portion of the Cortez trend.
- The Iceberg gold deposit has an established exploration targeti of 90 to 110 million tonnes grading between 0.90 grams and 1.10 grams of gold/tonne.
- It is on trend and adjacentii to three of Barrick's multi-million ounce Carlin-type gold systems that are amongst Barrick's lowest cost and politically safest depositsiii.
i These figures are conceptual in nature and derived from a compilation of 149 historic and 34 NuLegacy drill holes in and around the Iceberg deposit. To date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
ii The similarity and close proximity of these deposits in the Cortez Trend to the Iceberg deposit is not necessarily indicative of the gold mineralization in the Iceberg deposit.
iii As extracted from Barrick's Q4-2013 and Q1-2014 reports.
ON BEHALF OF NULEGACY GOLD CORPORATION
James E Anderson, Chief Executive Officer
For further information, please phone 604-639-3640 or contact James Anderson at email@example.com, Albert Matter at firstname.lastname@example.org or Roger Steininger, COO at email@example.com; or visit www.nulegacygold.com.
Dr. Roger Steininger, NuLegacy's chief operating officer is a Certified Professional Geologist (CPG 7417) and the qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects responsible for preparing and reviewing the scientific and technical information contained in this news release
Neither the TSX Venture Exchange nor its Regulation Services Provider (as 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 based on assumptions made by and information currently available to the Company. 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. There are no known resources or reserves in the Iceberg deposit 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 Iceberg Deposit is not necessarily indicative of the gold mineralization on the Iceberg Deposit. 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 28, 2015 for the year ended March 31, 2015. 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.
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