NUG Nulegacy Gold Corporation

NuLegacy Gold Corporation (TSX VENTURE:NUG)(PINKSHEETS:NULGF) reports closing of
its previously announced $3.2 million share exchange financing.


Net proceeds from this financing together with cash on hand are expected to be
sufficient to complete the direct exploration expenditures of US$2.9 million
required to earn NuLegacy's 70% working interest in the Iceberg gold deposit.
Thereafter, Barrick Gold Corporation will have to either fund 30% of additional
exploration expenditures in order to maintain its 30% working interest, or elect
to earn-back to a 70% working interest by funding all of the next US$15.0
million of exploration expenditures and carry NuLegacy's resulting 30% interest
to commercial production.


Under the terms of the share exchange with Global Resources Investment Trust PLC
("GRIT"), NuLegacy has issued 20,000,000 common shares (circa 17.7% of the
Company's current outstanding shares) at a price of C$0.16 per share ($3.2
million) in return for 1,731,200 GRIT shares at a deemed price of 1 British
Pound per share. 


The GRIT Shares were distributed pursuant to a prospectus published by GRIT in
the UK on February 28, 2014. GRIT's application to list its ordinary shares on
the premium listing segment of the Official List and to trade on the London
Stock Exchange's main market became effective March 7, 2014. GRIT's distribution
of the GRIT Shares to the Company and other Canadian based issuers was also made
pursuant to a discretionary exemption order granted by the Ontario and British
Columbia Securities Commissions by order dated November 13, 2013. 


The Company has agreed to pay a third party finder's fee of 3% of the actual net
proceeds received from the sale of GRIT shares in connection with the financing.
All securities issued by NuLegacy in connection with share exchange financing
are subject to a four month and one day hold period expiring July 8, 2014.


NuLegacy Gold Corporation is a Nevada based company focused on delineating gold
resources in its near-surface Iceberg oxide gold deposit. The Iceberg gold
deposit, located on a 60 square km portion of Barrick Gold Corporation's
prolific Cortez gold trend, has similar geology to that of Barrick's immediately
adjacent multi-million ounce Goldrush gold discovery.(1)


(1) Reported by Barrick as at Dec. 31, 2013, the Goldrush deposit contains a
resource of 423,000 ozs gold (3,091,000 tons grading 0.137 oz/ton - measured),
9,537,000 ozs gold (72,449,000 tons grading 0.132 oz/ton - indicated) and
5,555,000 ozs gold (39,472,000 tons grading 0.141 - inferred).


On Behalf Of The Board Of Directors Of NuLegacy Gold Corporation

James E Anderson, 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. Specifically,
there are no assurances that the actual net proceeds received by the Company
from its eventual sale of the GRIT shares, together with NuLegacy's cash on
hand, will be sufficient to fund the balance of the Company's direct exploration
expenditures of US$2.9 million to earn a 70% working interest in the Iceberg
gold deposit. If the Company's actual net proceeds from the sale of GRIT shares
is less than $3.2 million, the Company may need to raise additional financing to
fund the balance of the $2.9 million exploration requirement. There are no
assurances that such financing will be available to the Company on reasonable
commercial terms or at all. There are no known resources or reserves on the
Iceberg deposit or the Red Hill project and the proposed exploration programs
are exploratory searches for commercial bodies of ore. In addition, the presence
of gold deposits on properties adjacent or in close proximity to the Iceberg
Deposit or Red Hill project is not necessarily indicative of the gold
mineralization on the Iceberg Deposit or Red Hill project. 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 annual management's discussion and
analysis dated July 26, 2013 for the year ended March 31, 2013. 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
NuLegacy Gold Corporation
James Anderson
604-638-4959
james@nuggold.com


NuLegacy Gold Corporation
Albert Matter
604-638-4959
albert@nuggold.com


NuLegacy Gold Corporation
Roger Steininger
COO
604-638-4959
roger@nuggold.com
www.nulegacygold.com

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