NuLegacy Gold Corporation has commenced Phase 1 of its summer-fall 2022 drilling program on its 100% controlled 108 sq. km. flagship Red Hill exploration property located in the prolific Cortez gold trend of north-central Nevada, directly adjacent to, and on trend with, three of Barrick Gold's six top Tier 1 mines.

Initially it will drill 6 reverse circulation (RC) holes varying in depth from 1,400 to 2,000 feet (Phase 1), and pause for assays and analysis to guide the choice of the next holes and conserve cash during the current hiatus in the precious metals financing market. Phase One: Six RC holes (totaling ~10,400 feet of RC drilling) with one in the Mid Rift and five in the Serena Extension program. The Phase 1 Serena Extension drilling (holes SR22-01 to 05 below) is designed to ‘fill in' several 100-meter ‘gaps' in the Serena-North zone and particularly, the western most of these five holes will determine if the highest grade drill hole intercept on the property to date (16.9 grams gold/ton over 8.7 meters - Serena 18-02 - see news release dated Aug.

27, 2018) has continuity to the west along the Long fault, and test for a deeper gold zone along the Long fault in the anticipated Roberts Mountains Formation around 425-meter depth. The Mid Rift target (hole MR22-01 below) is within an apparent narrow uplifted corridor of Paleozoic rocks defined by CSAMT geophysics. It correlates directly with a 150-meter-wide zone of north-northwest trending, steep dipping faults that is parallel to the Iceberg fault and anticipated to be a steep feeder fault for gold mineralization.

This fault should intersect the low-angle west dipping gold-controlling Central Mineralized Zone (CMZ) fault that mineralized the Iceberg corridor and several other similar related faults at depth. The existing Iceberg (to the east) and Rift drilling (to the west) to date suggests moderate to thick sequences of the favorable Wenban Unit 5 and Roberts Mountains host rocks will be present along this target zone. NuLegacy Goldis focused on confirming potential high-grade Carlin-style gold deposits within its flagship 108 sq.

km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada. The targets are on trend and adjacentI to three, multi-million ounceCarlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which are ranked amongst the world's thirty largest, lowest cost and politically safest gold mines and are three of Nevada Gold Mines' most profitable mines.

The similarity and proximity of these deposits in the Cortez Trend including Goldrush are not necessarily indicative of the gold mineralization in NuLegacy's Red Hill Property. As extracted from Barrick's Q4-2013 and Q1-2014 reports. As reported by Barrick, the Goldrush resource contains 8,557,000 indicated ounces of gold within 25.78 million tonnes grading ~10.57 g/t and 1,650,000 inferred ounces within 5.6 million tonnes grading ~9.0 g/t.