March 27, 2012 Reno, NV -- NuLegacy Gold Corporation reports the start of drilling at its Red Hill Project, Eureka County, Nevada. It is anticipated over 25 holes will be drilled in this campaign; the majority will be reverse circulation holes with several core holes as well.
"This Red Hills drill program is the most important exploration campaign in the Company's history", says Roger Steininger NuLegacy's COO. "We are following up on the multiple encouraging indications of gold mineralization and substantial geophysical anomalies identified in our previous work".
The program is designed to determine the size and grade of the gold deposit identified in the Long Fault Anomaly, to follow up on the indications of gold mineralization in the Central Pediment, Central Mineralized and Jasperoid Basin anomalies and explore East Pediment & Coal Canyon targets. See map at http://nulegacygold.com/i/pdf/NUG_2012_Drill_Site_Map.pdf
A core drill rig has been mobilized onto the property to drill two core holes off-setting the higher grade gold mineralization in BRH-13 (13.7 meters of 8.1 gpt gold). These two holes as well as five of the reverse circulation holes are testing targets on the Miranda Gold Corp. (TSX-V:MAD) portion of the Red Hill Project.
Reverse circulation drilling on the Red Hills is being conducted by Envirotech Drilling LLC of Winnemucca, NV; core drilling will be conducted 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 drill hole 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 square km Red Hill Project and the 80 square km Wood Hills South Project. Both projects have geology similar to that of the adjacent multi-million ounce gold discoveries that were made subsequent to our acquisition of the 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
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. 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 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 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.