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VANCOUVER, British Columbia, May 06, 2020 (GLOBE NEWSWIRE) — NuLegacy Gold (TSXV: NUG; OTCQB: NULG.F) is admiring to acceptable Metalla Adeptness & Alive Ltd. (“Metalla”) as a new stakeholder in NuLegacy’s 108 aboveboard kilometer flagship Red Hill acreage in the affection of Cortez gold trend of North-Central Nevada.

Metalla has appear the acquirement (detailed below) of one bisected of the 3% gross cardinal adeptness (GOR) currently captivated by Idaho Assets Association (“IRC”)[*] on NuLegacy’s Red Hill acreage to abutting June 1, 2020.



Valuing GORs is a complicated business fabricated easier in this instance by the aboveboard attributes of the acquirement amount for IRC; appropriately administration the US$4 actor acquirement amount for the absolute of 2% GOR purchased (1.5% GOR on Red Hill and 0.5% GOR on Anglo/Zeke claims) ethics a 1% GOR in the Red Hill action at ~US$2 million.i  By allegory NuLegacy Gold, which owns/controls a 100% alive absorption in the Red Hill property, has an accumulated bazaar amount of ~ C$32.5 million.ii



Please chase this articulation to an adapted and active Investor presentation: https://nulegacygold.com/site/assets/files/6471/rift_anticline_as_goldrush_analogue-_may_1-_2020.pdf

On April 27, 2020, Metalla entered into a allotment acquirement acceding to acquire, on an arm’s breadth basis, 100% of the issued and outstanding shares of IRC for a acquirement amount of US$4 actor payable in banknote and shares of Metalla. Metalla is a adored metals adeptness and alive aggregation listed for trading on the NYSE American and TSX Adventure exchanges.

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IRC is a abreast captivated Nevada association which, aloft closing of the Metalla transaction, will authority a 1.5% GOR over NuLegacy’s Red Hill acreage amid on trend to the southeast of the Cortez operations and Goldrush project. IRC additionally holds a 0.5% gross cardinal adeptness on the Anglo/Zeke claims block amid anon northwest of and adjoining to NuLegacy’s Red Hill acreage and endemic by Nevada Gold, and assertive reversionary rights to access assertive mineral claims beneath the Cortez collective adventure plan of operations amid Barrick Gold and Newmont Mining should such collective adventure accept to abandon their mineral affirmation interests. Metalla letters that closing of the IRC accretion is accountable to accepted closing altitude and barter approvals and is accepted to action on or about June 1, 2020.

About NuLegacy Gold Corporation: Focused on acknowledging high-grade Carlin-style gold deposits on its arch 108 sq. km (42 sq. mile) commune calibration Red Hill Acreage in the Cortez gold trend of Nevada.  The Red Hill Acreage is amid on trend and adjacentI to the three multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amidst Barrick Gold’s largest, everyman amount and politically safest gold mineII.

I The affinity and adjacency of these deposits in the Cortez Trend is not necessarily apocalyptic of the gold mineralization in NuLegacy’s Red Hill Property.

II As extracted from Barrick’s Q4-2013 and Q1-2014 reports.  As appear by Barrick, the Goldrush adeptness contains 8,557,000 adumbrated ounces of gold aural 25.78 actor tonnes allocation ~10.57 g/t and 1,650,000 accepted ounces aural 5.6 actor tonnes allocation ~9.0 g/t.

On Behalf Of NuLegacy Gold Corporation

Albert J. Matter, Chief Executive Officer & DirectorTel: 1 (604) 639-3640Email: albert@nuggold.com

For added advice about NuLegacy visit:  www.nulegacygold.com or www.sedar.com.

Dr. Roger Steininger, a Director of NuLegacy, is a Certified Professional Geologist (CPG 7417) and the able being as authentic by NI 43-101, Standards of Acknowledgment for Mineral Projects, amenable for acknowledging the accurate and abstruse advice independent in this account release.

Required Disclaimer:  Metalla’s proposed acquirement amount for IRC is not necessarily apocalyptic of and may buck no affiliation to the absolute amount of the Red Hill acreage or the bazaar amount of NuLegacy’s shares. There are no accepted NI 43-101 assets or affluence in the Red Hill Acreage and any proposed analysis programs are basic searches for bartering bodies of ore.

Cautionary Statement on Forward-Looking Information: This account absolution contains advanced advice and statements beneath applicative balance laws, which advice and/or statements chronicle to approaching contest or approaching achievement (including, but not bound to, the abeyant amount and -to-be attributes of the Red Hill Acreage and proposed approaching analysis and conduct programs thereon) and reflect management’s accepted expectations and assumptions. Such advanced advice and statements reflect management’s accepted behavior and are based on assumptions fabricated by and advice currently accessible to the Company. Readers are cautioned that such advanced advice and statements are neither promises nor guarantees, and are accountable to risks and uncertainties that may account approaching after-effects to alter materially from those accepted including, but not bound to, absolute after-effects of analysis activities, hasty geological, stratigraphic and structural formations, ecology risks, operating risks, accidents, action issues, delays in accepting authoritative approvals and permits, the availability of financing, bazaar conditions, approaching prices for gold, changes in cadre and added risks in the mining industry. There are no accepted assets or affluence in the Red Hill Property, any proposed analysis programs are basic searches for bartering bodies of ore and the attendance of gold assets on backdrop adjoining or abreast the Red Hill Acreage including Goldrush is not necessarily apocalyptic of the gold mineralization on the Red Hill Property.  There is additionally ambiguity about the advance of the COVID-19 virus and the appulse it will accept on the Company’s operations, personnel, accumulation chains, adeptness to annex analysis equipment, contractors and added cadre on a appropriate base or at all and bread-and-butter action in general. All the advanced advice and statements fabricated in this account absolution are able by these cautionary statements and those in our connected acknowledgment filings accessible on SEDAR at www.sedar.com. The advanced advice and statements in this account absolution are fabricated as of the date hereof and the Aggregation does not accept any obligation to amend or alter them to reflect new contest or affairs save as appropriate by applicative law. 

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Neither the TSX Adventure Barter nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Adventure Exchange) accepts albatross for the capability or accurateness of this release.

[*] As allotment of a about-face of the acreage of IRC’s backward founder, IRC will allotment out the added bisected of the 3% GOR (i.e. 1 ½% GOR) to its absolute shareholders above-mentioned to closing of the Metalla transaction.

i This appraisal assumes that a 1% GOR absorption in the Red Hill acreage is agnate to a 1% GOR absorption in the Anglo/Zeke claims and makes no acclimation for any differences in the nature, type, quantity, brand and/or metal content, if any, of minerals anchored on the Red Hill acreage and Anglo/Zeke claims. This appraisal additionally attributes no amount to the reversionary rights captivated by IRC. These assumptions are neither promises nor guarantees, may be inaccurate and are accountable to risks and uncertainties that may account absolute after-effects to alter materially from those expected.

ii Based on a absolute of 407,173,804 accepted shares outstanding and a closing amount of C$0.08 per allotment on the TSX Adventure Barter as of May 5, 2020.

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