Avocado Assays Confirm Second Gold-Bearing Carlin-system

RENO, NV - NuLegacy Gold Corporation reported that the assay results from the first hole drilled into the Avocado IP (Induced Polarization) anomaly have confirmed the discovery of a second Carlin-type gold system. Core drilling on the first system, the Iceberg gold deposit, continues.

"I am very encouraged by the results from Hole AV14-01 in the Avocado anomaly, says Dr. Roger Steininger NuLegacy's COO, "We have encountered another Carlin-type gold system on the property and at a depth shallower than initially interpreted from the IP survey. Compilation and reinterpretation of all available data in the area should vector the next drilling into higher grade gold mineralization".

Hole AV14-01 was drilled by a RC (reverse circulation) rig to a depth of 1,575 feet (480 meters). The assay results returned three anomalous gold intervals of 40 feet, 65 feet and 115 feet encountered at depths of 830, 1,085 and 1,375 feet respectively, in the black carbonaceous limestone material that hosts much of the gold mineralization in the deeper parts of Nevada's Carlin-type gold deposits. An anomalous trace element suite, typical of the Cortez's Carlin-type gold systems is present, indicating that higher grade gold mineralization may occur in the vicinity.

An interpretation of the results from AV14-01, all the available geophysical data from the area, and the historic drill holes nearby is in progress and will be used to vector toward higher grade gold mineralization in siting of the next phase of drilling the Avocado anomaly.

The Avocado anomaly, whose shape reflects its name, is a large geophysical feature just to the north of NuLegacy's Iceberg gold deposit. It is a 2 square km (~ one square mile) 2,000 meters east-west by 1,000 meter north-south induced polarization/resistivity anomaly. It is on trend with Barrick Gold Corporation's multi-million ounce Goldrush

NuLegacy Gold has discovered a classic Carlin-type oxidized gold deposit (the Iceberg) with an exploration targeti of 90 to 110 million tonnes grading between 0.70 gram and 1.00 gram of gold/tonne in the famed Cortez gold-trend of Nevada. The Iceberg is on a 60 sq. km portion of the Cortez optioned from Barrick Gold Corporation, and on trend with Barrick's three multi-million ounce Carlin-type systems.

NuLegacy's 2014-15 exploration programs are designed to complete the earn-in to a 70% working interest in the Iceberg.