August 2, 2016 - Reno, NV - NuLegacy Gold Corporation reports on the expansion of its geotechnical team to support accelerating its exploration programs.
A well strengthened balance sheet from our two recent financings is enabling NuLegacy to expand its geotechnical exploration-team by adding new expertise and initiating geo-physical and geo-chemical survey programs that were previously constrained by budgetary limitations in preparation for modestly accelerating the drilling programs. The expanded geo-team includes:
Dr. Roger Steininger, Ph.D. Geo,
will continue as the company's Chief Geoscience Officer responsible for the successful application of the various geo-physical, geo-chemical and other exploration sciences, the generation of exploration opportunities and the Qualified Person in respect of NI 43-101 regulations.
Mr. Thomas (Tom) Roman, BSc Geo,
has joined the company as Exploration Manager, Nevada. Tom is a very successful Nevada based exploration geologist and program expeditor with 40 years' experience most recently as Senior Geologist for Klondex Mines and the Elko Mining Group, and Mine Area Geology Manager for Newmont Ming Corp. Tom is responsible for the development and execution of the exploration programs.
Mr. Alex Davidson, BSc Econ Geo,
a recognized leader in designing, implementing and managing highly successful strategic gold and base metal exploration and acquisition programs throughout the world will continue as an advisor and director.
Mr. Derick Unger, M.S. Geo,
a highly respected exploration geologist experienced in project management and resource modeling has taken responsibility for the design, execution and interpretation of NuLegacy's geophysical exploration programs.
Mr. David Mallo, BSc. Geo,
who contributed to last year's successful drilling program as Exploration Manager, Nevada, continues as a targeting consultant.
Garrett Frey BSc. Geo,
continues as a Project Geologist and Bryan Kellie BSc. Geo,
as a Field Geologist.
Chairman Albert Matter comments, "With the additions to the NuLegacy exploration team and the input from Barrick's geological team NuLegacy Gold is positioned for continued exploration success".
Brief bios can be viewed at http://nulegacygold.com/s/GeotechnicalTeamBios.asp
NuLegacy Gold Corporation is a Nevada based gold exploration company financed and operated by discovery
governance teams that have successfully identified, discovered and developed numerous gold resources.
We are focused on expanding our Carlin-style near-surface Iceberg oxide gold deposit
and exploring for additional gold deposits on our 38 sq. mile (98 sq. km) Red Hill property located in the Cortez gold trend of Nevada.
The Iceberg, which has similar geology to that of Barrick Gold's Pipeline deposit, is located on trend and adjacenti
to three of Barrick Gold's multi-million ounce
Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick's lowest cost and politically safest gold assetsii
. To date we have established an exploration target of 90-110 million tonnes of 0.9 to 1.1 grams of gold per tonneiii
NuLegacy's objective is the discovery and sale of significant multimillion-ounce gold deposits utilizing highly focused exploration programs employing sophisticated techniques for targeting discovery and delineation of gold deposits.
i. The similarity and close proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in the Iceberg deposit.
ii. As extracted from Barrick's Q4-2013 and Q1-2014 reports.
iii. 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.
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, CGO at email@example.com; or Frank Lagiglia (ICM) at firstname.lastname@example.org or visit www.nulegacygold.com.
Dr. Roger Steininger, NuLegacy's Chief Geoscience 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 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. 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. All of 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, 2016 for the year ended March 31, 2016. 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.