Discovering gold in the Cortez gold-trend of Nevada · 2019-09-05 · NUG:V │ NULGF:QX. Discovering gold in Nevada. NuLegacy Gold. CORPORATION *Five of NuLegacy’s geo-team have

NUG:V │ NULGF:QX Discovering gold in Nevada

NuLegacy GoldC O R P O R A T I O N

~ Discovering gold in theCortez gold-trend of Nevada ~

September 2019

Corporate Presentation



Why NuLegacy?

• OceanaGold• Barrick Gold• Tocqueville

• 3 former Barrick executives on BOD

• Successful mine finders/financiers

• Several Carlin-style gold deposits

• Epithermal gold prospects

108 sq. km in Cortez trend

• On strike with Barrick’s three best gold deposits1

World Class Shareholders

District Scale Discoveries

Successful Governance & Geo Team

Nevada is the 4th largest gold producing “nation” in the world

Investing in the largest most prospective ‘independently’ owned land package in the famed Cortez gold-trend of Nevada.

2



Capital structure, Ownership distribution

Analyst coverage Scarsdale Equities LLC scarsdale-equ.com Mike Niehuser [email protected] Capital vsacapital.com Oliver O’Donnell [email protected] Genuity canaccordgenuity.com Tom Gallo [email protected]

Capital structure

Shares Outstanding 307.2 million 52 Week Range C$ 0.03 - 0.22/shareMarket Capitalization ~ C$ 23.0 millionCurrent cash ~ C$ 1.1 millionProceeds Ex Options & Wts ~ C$ 10.9 millionWarrants / Options 12.8 / 34.2 millionFully Diluted 354.1 million

Ownership distribution

Miners Shares (millions) %OceanaGold 49.8 16.2Barrick Gold 32.0 10.4

InstitutionsTocqueville 28.6 9.3Davenport LLC 14.5 4.7Ingalls & Snyder 6.0 2.0Waterton Global 5.0 2.0

Public ~ 123.0 ~ 40.1Principals 53.0 17.3

3



Corporate team

... track records of successfully securing and advancing high-quality assets to production …

CORPORATE MANAGEMENT:

*Alex Davidson Chairman, Director Former EVP Barrick Gold, Director, Yamana Gold Inc.

Albert Matter Chief Executive Officer, Director Co-founder Alamos Gold Inc, NuLegacy Gold Corporation

*Edward Cope Director, Exploration & EvaluationsFormer VP Exploration, North America, Barrick Gold

Danny Lee VP Administration & Chief Financial OfficerAdministrated Eagle Hill & Oban merger to form Osisko Mining

DIRECTORS:

*Alan Hill Chairman Teranga Gold Corporation – former EVP Barrick GoldJames Anderson Chairman & CEO of Vangold MiningJohn Budreski Exec. Chairman of Morien Resources Corp. & EnWave Corp. *Roger Steininger*, PhD Discoverer Barrick’s 21+ million ounces Pipeline mine, NuLegacy’s Iceberg

& Avocado gold depositsADVISORY COUNCIL:

Glen Darou Retired CFO, Shell CanadaStuart “Tookie” Angus Chair & Director, K92 Mining Inc.

4



*Five of NuLegacy’s geo-team have been instrumental in the discovery and construction of four of Barrick’s best gold deposits.

Exploration team

EXPLORATION TEAM:

*Edward Cope, MSc Ec Geo. Director, Exploration & Evaluations Led team that added ~ 50 million ounces to Barrick’s Nevada gold endowment

*Charles Weakly, BSc District GeologistContributed to multi-million-ounce expansions of Barrick’s Goldstrike and Goldrush discoveries

Bryan Kellie, BSc Project GeologistDenise Dowell, BSc Geotechnical/Database Administrator

Garrett Frey, BSc Senior Geologist

Robert Springs, BSc Geologist

William Mounts, DICAT Drilling Supervisor

5



Nevada’s rich gold-trends

Gold Quarry

Emigrant

GoldrushCortez Hills

Pipeline

Cortez segment

Mule Canyon

Fire Creek

Carlin

Midas

NuLegacy’s Red Hill property

• Gold deposits >20 million ounces.• Produces 5.5 million ounces/yr.• 80% of US and 10% of world production.

Pinion

VIO

Buckhorn

6

Betze/Post

Major DepositsEocene Carlin-PorphyryMiocene Epithermal

Lone Tree

Turquois Ridge

Mt. Hope



Cortez trend Carlin-style gold systems

Legend

• Gold Deposits

• Exploration Targets

Clusters of deposits with multiple horizons.

Barrick’s Cortez “complex”:• Produces ~ one million ounces/year• 20% of Barrick Gold’s production• 50+ million-ounce gold endowment.

NuLegacy’s 108 km21

RED HILL PROPERTY1

Multiple horizons

7

1999 - Barrick’s Cortez Hills ~15+ M oz @ 4.1 g/t

1989 - Barrick’s Pipeline/Cortez operation ~21+ M oz @ 2.5 g/t

2010 - Barrick’s Goldrush ~10+ M oz @ 10 g/t2

North

Serena

Avocado

Rift



The value proposition

North

SerenaRift

Barrick’s Cortez operations2(a).

2017 Production (oz) ………... 1,330,000All-in sustaining cost/oz …........…. $624Average $/oz …………………..…. $1,2572017 NCF…...........…US $841,890,000

Barrick’s Goldrush2(b)

Est. 2021 Production (oz) …… 450,000All-in sustaining cost/oz ….….…. $620Average $/oz (estimated) .…….. $1,300

Est. 2021 NCF...............US $306,000,000

NuLegacy Gold CorporationRed Hill property

.

Current Market Cap:~C$20,000,000

8

Avocado



Classic Carlin-type gold deposit model

Classic Cortez high grade gold deposit at 3 to 10+ g/t gold

Making a Carlin Tier 1 asset: 80%-20% rule

20 million tons ofhigher grade ‘core’ at 10 to 30+ g/t gold

Low-angle thrust faults

High-angle faults

Gold mineralization

9

80 milliontons of 0.5+ g/t oxide gold deposit



The Transformation of Goldrush

As of:• 2008 ~ 2.2 million oz• 2009 ~ minimal drilling • 2010 - 2013 ~ 7.1 million oz• 2013 ~ 14.1 million oz• 2014 ~ 20+ million oz• 2016 ~ 10 million oz @ 10 g/t1

• 2020 ~ production @ ~ 500,000 oz/yr

From a ‘typical’ Carlin to a ‘Tier 1’ asset in two years of drilling.

1 Goldrush strategically recategorized as underground resource.

10

145 ft @ 0.50 oz/t



The Transformation of Red Hill

• 2017-2018: Under the guidance of Charles Weakly, NuLegacy executed major geochemical, geophysical and ‘wildcat’ drilling programs.

• Resulting in the ‘breakthrough’ analysis confirming the structural and stratigraphic connectors between the Barrick’s Goldrush/Fourmile Carlin gold systems and NuLegacy’s Red Hill Carlin gold systems which are:

• On trend.• Strongly mineralized systems with the same stratigraphy. • The high-grade gold is at the structural confluence of:

1. the high-angle faults and, 2. low-angle thrust faults, 3. within the Wenban5 stratigraphic horizon.

• 2019-2020 objectives: Capitalize on the geologic ‘breakthrough’ by:• Testing the connectors.• Priority targets are the Fourmile ‘Look-alike’ and the Rift Anticline.

11



Fall 2017: North zone cross-section

Tv

Dhc

Dw

Au g/t

SR17-09SR17-01

SR17-08C

SR17-04

RHB-96C

RHB-69

RHB-39

RHB-35

RHB-64

RHB-56

RHB-65RH94-02

RHB-62

RHB-17

RHB-49

SR17-08C:32.6m at 2.05 g/t, incl. 3.2m at 14.74 g/t

RHB-64: 51.8m at 1.27 g/t, incl. 10.6m at 4.51 g/t


SR17-01: 50.3m at 1.00 g/t, incl.13.8m at 2.27 g/t

SR17-02

≥ 1.0

0.8

0.6

0.4

0.20.1

12

A’A



Tv

Dw5

Dw4

Fall 2018: Reinterpreted North zone x-section

SR17-09SR17-01

SR17-08C

SR17-04

RHB-54

RHB-96C RHB-69

IN17-14CRHB-39

RHB-35

RHB-64

RHB-56

RHB-65 RH94-02

Tb

Dw8

Dw6-7

Dw5

RHB-62RHB-17

Long Fault

SR17-01: 50.3m at 1.00 g/t, incl.13.8m at 2.27 g/t

SR17-08C:32.6m at 2.05 g/t, incl. 3.2m at 14.74 g/t



RHB-49

SR17-02≥ 1.0

0.8

0.6

0.4

0.20.1

Alluvium

Basalt

Volcaniclastics

Intrusive

Devonian Horse Canyon Fm.

Devonian Wenban Unit 8

Devonian Wenban Unit 6-7



Legend Au g/t

13

A’A



Resulting target zones & drill sites

WS18-01 (Rift discovery hole stopped in Wenban4)

Cross-section A A’

N

Fourmile‘look-alike’

Rift Anticline

Serena Offset

WesternSlope

CentralIceberg

NorthIcebergVIO

ExplanationDrill sites

WS18-01

NuLegacy drill holes

New target zones

SR18-02C:22.1m of 6.59 g/t, incl.

8.7m of 16.92 g/t gold

RHB15-40:41.2m of 3.9 g/t, incl. 12.2m of 11.0 g/t gold

14

3



200 m

W ETb

Tv

Dhc DwU

Dw5

DwL

WS18-01

VIO Rift Anticline

WesternSlope

4.5 km of Northern Nevada Rift looking north A’A

The three new Carlin targets

High-angle faults Low-angle faults

Iceberg


• Three new highly prospective targets in 4.5 km wide by 6 km long (N-S) Rift zone • Hole WS18-01 confirmed major part of Red Hill’s Carlin-style gold systems under

post-mineralization basalt flows• Numerous ‘high-grade’ spikes (i.e. Serena18-02c with 22.1 m of 6.59 g/t,

incl. 8.7m of 16.92 g/t gold) indicate high-grade core/feeder zones to the west3• Iceberg – the up-dip mineralized ‘exhaust’ plume from Rift target zone/loosely

constrained mineralized zone

The ‘right’ stratigraphy – Dw5 (Wenban5)

15

“Exhaust” plumeSerena

Offset



Carlin-style: 2019-2020• Fourmile ‘look-alike’ 3 holes• Rift Anticline 0 holes permitting under way• Serena ‘offset’ 2 holes

Carlin-style:• Western Slope 2 holes • Avocado 4 holes

Epithermal targets:• VIO 6 holes

New targets

Fall 2019-Spring 2020 drill-ready targets

Total: 17 holes

Improved targeting

16



Fourmile ‘Look-alike’

N


70

75

75

80

75

75E E’

WS18-01(Rift Hole)

ExplanationDrill sitesDrill collarsNew target zones

17

Fourmile‘Look-alike’



Interpreted Fourmilestructural target corridor

Au target

300 m

Comparison to Barrick’s Fourmile

300 m

Grades:• 22.9 m of 16.5 g/t• 39.3 m of 25.9 g/t• 20.4 m of 54.9 g/t• 25.9 m of 34.6 g/t • 2.6 m of 125.5 g/t = ~4 oz/t

NUG’s “Look-alike”

18

Barrick’s Four-Mile” 1



Looking north

NUG’s Fourmile ‘Look-alike’ x-section

Tb

Tv

Dhc

Dw8-6

Dw5

Dw4 100 m

ExplanationTarget zone

Drill sites

Dw5

Dw5 Dw5

High-angle faultsLow-angle thrust faults

The ‘favourable’ Dw5 stratigraphy

19

planned holes E’E



Serena Offset

WS18-01 (Rift Hole)

N

75

75

75

75

60

70

60

Mirka

ExplanationDrill sitesDrill collarsGold intercept

20

SR18-02c: 22.1m of 6.59 g/t, incl.


SR17-08c: 32.7m of 2.07 g/t, incl.10.3m of 5.96 g/t gold

Serena Offset

SerenaOffset



Serena ‘Offset’ elevation plan map

(at 230 meter depth)Anticipated right lateral offset of mineralized zone across Long Fault

Serena ‘wedge’

mineralization

AnticipatedSerena ‘offset’mineralization

SR18-02c: 22.1m of 6.59 g/t, incl.


SR17-08c: 32.7m of 2.07 g/t, incl.10.3m of 5.96 g/t gold

RHB15-40: 41.2m of 3.9 g/t, incl. 12.2m of 11.0 g/t gold

3

21



SW NE

SR18-02CSR18-03C

SR18-01C

Looking northwest

Serena ‘Offset’ target cross section B-B’

Antietam

Tb

Tv

Dhc

Dw5

Dw4

Dw6-8

100 m

315 m offset Serena zone

Depth elevation trace


Drill sites

22

Serena Offset zone planned holes B’B



Rift Anticline – large 4 km long structure

N

RiftAnticline

70

75

75

80

75

75

D

D’

WS18-01(Rift Hole)


23

RiftAnticline



D’D

Rift Anticline long section

SE NW

Tb

Tv

Dhc

Dw8-6

Dw5

Dw4

300 m


Drill sites

Looking perpendicular (west-southwest) to the axial plane of interpreted anticline

24

planned holes

planned holes



Why NuLegacy Gold?

• 2018-19 ‘Breakthrough’ analysis confirms the structural and stratigraphic connectors between Barrick’s Goldrush/Fourmile gold systems and NuLegacy’s Red Hill Carlin gold system:

• On trend.• Strongly mineralized systems with the same stratigraphy. • With the high-grade gold at the structural confluence of

high-angle faults and low-angle thrust faults within the Wenban5 horizon.

• 2019-2020 objectives - capitalize by:• Testing the connectors.• Priority targets are the Fourmile ‘Look-alike’ and the Rift

Anticline

25





September 2019



Endnotes1. The presence of gold resources on properties in close proximity/adjacent to or geologically similar to the Red Hill property is not necessarily indicative of the

gold mineralization on the Red Hill property. To date, there are no known NI 43-101 mineral resources or reserves on the Red Hill property.2. As reported by Barrick Gold Corporation, the revised and updated Goldrush resource with an underground production scenario is significantly higher grade than

the preVIOusly reported open pit resource. It contains 8,557,000 indicated ounces of gold within 25.78 million tonnes grading ~10.57 g/t and 1,650,000 inferredounces within 5.6 million tonnes grading ~9.0 g/t. 2(a). As per Barrick Gold’s 2017 MD&A 2(b). As per Barrick Gold’s February 15, 2017 Press Release.

3. The reported gold intervals may or may not represent true thicknesses and/or widths as there is insufficient data at this time with respect to the shape ofmineralization to calculate its true orientation. All drilling was conducted by NuLegacy’s drilling contractors under the supervision of the Company’s projectgeologist and the chain of custody from project to sample preparation facility was continuously monitored. The samples were analyzed by American Assay Labsof Sparks, NV and sufficient commercially prepared standards, blanks, and duplicates were inserted to assure quality analytical results. Data verification of theanalytical results included a statistical analysis of the duplicates, standards and blanks to ensure accurate and verifiable results.

Forward Looking StatementsThis presentation contains forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address NuLegacy’s expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan","estimate", "expect“, “ensure” and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similarexpressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results,performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by suchforward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risksassociated with mining and mineral exploration; actual results of current and future exploration activities, fluctuations in gold and other commodity prices; titlematters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common shareprice and volume; and tax consequences to U.S. Shareholders, as well as those factors discussed in NuLegacy's continuous disclosure documents filed on SEDARat www.sedar.com.. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and theCompany undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, save asrequired by applicable law. Investors are cautioned against attributing undue certainty or reliance upon forward-looking statements.

Furthermore, this presentation provides information in summary form only and is not intended to be complete. NuLegacy has made reasonable efforts to ensure the accuracy of such information; however, there may be inadvertent or unintentional errors. No representation, warranty or guarantee, express or implied, is made as to the fairness, accuracy or completeness of information contained herein, including the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, results or statements in relation to future matters contained in this presentation. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any security and is not intended to be relied upon as advice to investors or potential investors.

Dr. Roger C. Steininger, Ph.D., CPG 7417, NuLegacy Gold Corporation Director and Qualified Person under NI 43-101, has reviewed and approved the scientificand technical disclosure contained herein.

September 4, 2019



Carlin-style:• Western Slope 2 holes• Avocado 4 holes

Targets, cont.Appendix

Epithermal:• VIO 6 holes

28

“…the Red Hill property has exactly the same stratigraphiccolumn, controls of mineralization, geo-chemistry and highand low-angle structures that are the important conduits forthe high-grade gold-bearing fluids at Goldrush…just acrossthe valley where I worked the last four years before joiningNuLegacy1…”’Charles Weakly, BSc, District Geologist, NuLegacy Gold Corporation, starting Jan 1, 2018; previously Chief Geologist, Goldrush Exploration, wholly owned subsidiary, Barrick Gold Corporation



WesternSlope

C C’

SR18-02c

SR17-08c

75

75

75

75

60

70

60


Western Slope

29

WS18-01 (Rift Hole)

WesternSlope



Looking north

Western Slope target Cross section

WS18-01W E

Tb

Tv

Dhc Dw8-6

Dw5

Dw4

100 m

Depth elevation trace


Drill sites

30

planned holesC’C


NuLegacy GoldC O R P O R A T I O N Western Slope sub-elevation plan map

Zone at 1750 meters elevation (200 meter depth)

Western slope potential mineralization

WS18-01

31



Avocado

AW17-05c

80

80

80

F

F’Avocado


32



Looking north-northwest

AW17

-05C

Dw5

300 m

Dw8-6Dhc

Tv

Tb

QTa

Ddg

Dw4

2725 ft

2500 ft

2350 ft2100 ft

SW NE

Avocado target Cross section

ExplanationGold zoneTarget zone

Drill sites

33

F F

F’F planned holes planned holes



VIO epithermal target

N

70

75

75

80

75

75

G G’

VIO


34

VIO

WS18-01(Rift Hole)



VIO epithermal target cross section

W ETb

Tv

Dhc

Dw8-6

Dw5Dw4

100 m

ExplanationDrill sites

35

planned holes

Looking north

G’Gplanned holes





Documents

Discovering gold in the Cortez gold-trend of Nevada · 2019-09-05 · NUG:V │ NULGF:QX. Discovering gold in Nevada. NuLegacy Gold. CORPORATION *Five of NuLegacy’s geo-team have