NuLegacy Grants Stock Options
RENO, Nev., Sept. 13, 2017 (GLOBE NEWSWIRE) -- The Company announces that it has granted incentive stock options to certain directors, officers, employees and consultants to purchase up to an aggregate of 7,455,000 common shares at a price of $0.235, being the closing price per share before the grant, and exercisable for a period of five years. The options are subject to vesting in 6 equal semi-annual installments over a period of 36 months commencing with the initial installment vesting immediately; this brings the total options established to 9.9% of the post exercise shares outstanding.
About NuLegacy Gold Corporation: NuLegacy is a Nevada exploration company focused on discovering additional Carlin-style gold deposits on its premier district scale 98-sq. km (38 sq. mile) Red Hill Project in the prolific Cortez gold trend of Nevada. To date NuLegacy has discovered the Icebergi and the Avocado Carlin-style gold deposits and has identified four more highly prospective exploration targets that are being drilled this year. NuLegacy’s Red Hill Project is located on trend and adjacentii to three multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick Gold’s largest, lowest cost and politically safest gold minesiii.
iAn established exploration target of 90-110 million tonnes of 0.9 to 1.1 grams of gold per tonne. These figures are conceptual in nature and derived from a compilation of 149 historic and 111 NuLegacy drill holes. To date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
iiThe similarity and proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in NuLegacy’s Red Hill Project.
iiiAs extracted from Barrick’s Q4-2013 and Q1-2014 reports.
On Behalf Of NuLegacy Gold Corporation
James E Anderson, Chief Executive Officer
