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NuLegacy Gold drills 27.4 m of 1.4 g/t Au at Red Hill 2012-06-13 06:18 ET - News Release Mr. Albert Matter reports NULEGACY DISCOVERS NEAR-SURFACE HIGH GRADE OXIDE GOLD IN CORTEZ TREND, NEVADA NuLegacy Gold Corp. has released assays from the first six of the 12 holes recently drilled on its Red Hill project in Nevada. The 100-square-kilometre Red Hill project is located in the prolific Cortez gold trend adjacent to Barrick Gold Corp.'s Cortez property with its recently announced Goldrush discovery. Central mineralized zone NuLegacy Gold's hole RHB12-006 intersected several zones of oxide gold mineralization in the Central mineralized zone (CMZ) of the Red Hill project. Most notable is a near-surface 90-foot oxidized intercept (27.4 metres) of 1.4 grams per tonne gold (g/t Au), including 35 feet (10.7 metres) of 2.6 g/t Au; complete assays are shown in the associated table. The results of this vertical reverse circulation hole indicate the discovery of significant near-surface high-grade oxide gold mineralization that is likely the westerly extension of the previously identified gold mineralization in the CMZ. Historic drilling at the CMZ outlined a minor mineralized zone with grades up to one to two g/t Au. RHB12-005 was drilled to the east and returned anomalous gold. "We are very pleased with the gold assay results of hole RHB12-006," says Dr. Roger Steininger, NuLegacy's chief operating officer. "We will now focus on expeditiously delineating what could potentially be a large high-grade near-surface oxidized zone of gold mineralization." DRILL RESULTS Length Grade Hole No. From To (metres) of gold RHB12-006 57.9 67.1 9.1 0.44 and 120.4 147.8 27.4 1.40 including 128.0 138.7 10.7 2.60 and 170.7 190.5 19.8 0.20 RHB12-005 57.9 204.2 146.3 anomalous The oxidized mineralization in drill hole RHB12-006 is mostly within silicified limestone with associated trace elements and alteration indicative of Carlin-type gold mineralization. Located within the Barrick Gold option (a 60-square-kilometre portion of NuLegacy's 100-square-kilometre Red Hill project), both holes contain substantial thickness of silicified and oxidized near-surface gold mineralization. This hole, in conjunction with RHB12-005 and RHB12-003 (PR-7/5/11), indicates a much larger mineralized zone than previously indicated by historic drilling is present at CMZ. Detailed logging of the chips and incorporation of the NuLegacy drill holes with the historic data are in progress which will lead to a drill plan that will follow up on these promising results. Follow-up drilling to expand this zone of near-surface oxide gold mineralization will commence as soon as targeting and permitting of the additional drill sites are completed. Long Fault anomaly Assays have also been received for four of the six reverse circulation exploration holes drilled in the Long Fault anomaly (LFA; within the 10-square-kilometre Miranda Gold Inc. option). These holes encountered encouraging anomalous gold mineralization within favourable host rocks associated with Carlin-type gold deposit trace element and alteration intervals. The four widely spaced holes, in conjunction with previous drilling at the LFA, indicate the potential for a Carlin-type gold system. Compilation of all of the NuLegacy (and historic) drilling results is in progress to identify areas where higher-grade gold may exist. When this study is completed, additional drilling at the LFA will be considered. Further assays from the 2012 Red Hill exploration program will be released as they are received. Reverse circulation drilling on the Red Hills is by Envirotech Drilling LLC of Winnemucca, Nev., core drilling by National EWP LLC of Woodland, Calif., all under the direction and supervision of Dr. Roger Steininger (CPG 7417), NuLegacy Gold's chief operating officer. All of the samples are being analyzed by American Assay Labs (Sparks, Nev.) for gold and a suite of 36 trace elements. Sufficient commercially prepared standards, blanks and duplicates are inserted to assure quality analytical results. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.