The Rift Anticline as the Goldrush Analogue · ~ The Rift Anticline as the Goldrush Analogue ~ May...

NUG:V │ NULGF:QB Discovering gold in Nevada

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

~ The Rift Anticline as the Goldrush Analogue ~

May 1, 2020

Size matters

1



2

Corporate fundamentals

• Successful and committed* corporate and exploration team

• Great shareholder base• Best geology and infrastructure

in the world• Potential large tonnage high-

grade Tier 1 gold discovery• Expect value realization during

2021-22

* See slide 30 for recent purchases



3

Finance, governance and exploration teamCORPORATE MANAGEMENT:

NON- EXECUTIVE DIRECTORS

EXPLORATION MANAGEMENT

Albert Matter (Founder-2010) CEO, Director, Finance & Marketing

*Alex Davidson (2013) Chairman, Director, Value Recognition

Roger Steininger (Founder-2010) Director, QP

James Anderson (2013) Director

*Alan Hill (2016) Director, Engineering

John Budreski (2018) Director, Investment banking

*Edward Cope (2017) Director, Exploration

*Charles Weakly (2018) District Geologist

*Mark Bradley (2020) Nevada Exploration Manager

Co-founder Alamos Gold, Gryphon Gold, NuLegacy Gold Corporation

Former EVP Barrick Gold, Director, Yamana Gold Inc., Chair, Americas Silver Corp

Discovered Pipeline and Lone Valley deposits

Chairman & CEO of Vangold Mining

Chair Teranga Gold Corp.– former EVP Barrick Gold

Director, Sandstorm Gold Ltd, Exec. Chair Morien Resources Corp., EnWave Corp.

Managed teams that added ~ 50 million ounces to Barrick’s Nevada gold endowment

Cortez Project team leader during initial discovery of multi-million-ounce Goldrush deposit

Contributed to multi-million-ounce expansions of Barrick’s Goldstrike and Goldrush discoveries

* former Barrick executives



4

Success has many fathers…

“Management has track records of successfully securing and advancing high-quality assets to production.”

Founded 2010 to explore for open-pit

oxide deposits

Enrolled successful corporate

team

Funded thru 2011-2016/19bear market

Winter 2015 completed earn-in to 70% interest

108 sq. km Red Hill property.

Very favorable

Carlin-type geology

ID’d several oxide deposits; too dispersed to warrant resource

calculations



5

Success has many fathers…cont.

Spring 2016 acquired remaining 30% of Red Hill to

own 100%*

Raised C$20 million dollars

2017 multiple geochemical, geophysical surveys and

wildcat drilling

Pointed to Western

Slope/ Rift Anticline

2018 added to the Carlin-type

exploration team

Experienced, successful

former Barrick geologists

Proficient younger geo-technologists

2019 breakthrough

analysis affirmed refocus on Rift

Anticline

Possible high-grade

Goldrush analogue

Drilling planned Q4, 2020

Six of NuLegacy’s principals & geo-team were instrumental in discovery of four of Barrick’s best gold deposits.

*subject to an underlying 3% gross overriding and/or a 2% net profits royalties over portions of the Red Hill property.



Capital & ownership structure

Analyst coverageScarsdale Equities Mike Niehuser [email protected] Capital Oliver O’Donnell [email protected] Genuity Tom Gallo [email protected]

Capital structure

Shares outstanding 407.2 million 52 Week range C$ 0.03 - 0.195/shareCurrent market capitalization ~ C$ 25.0 millionCurrent cash ~ C$ 4.5 millionProceeds of options & wts ex. ~ C$ 17.1 millionWarrants / Options 68.0 / 36.0 millionFully diluted 511.2 million

Ownership distribution

Miners Shares (million) %OceanaGold 49.8 12.2Barrick Gold 32.0 7.9

InstitutionsTocqueville 37.9 9.3Davenport LLC 14.5 3.6Ingalls & Snyder 6.0 1.5Waterton Global 5.0 1.2

Public ~207.1 ~ 51.0Insiders and Principals 54.9 13.3

6



7

Locating Nevada’s elephants~ Nevada Bureau of Mines & Geology ~

1. Great geology with numerous producing mines including high-grade underground mines

2. Regulatory system with recent examples of rapid permitting3. Great infrastructure (roads, drillers, hotels, supplies, assayers, etc.)

‘ … simply the best geology, geography and geo-politics in the

world … with elephant sized Carlin-type gold deposits! ’

4. Favorable climate with year-round access5. No malaria, black flies, moose, polar bears,

desert death adders or crocodiles; just elephants!



8

Nevada’s rich gold-trends

Gold Quarry

Emigrant

GoldrushCortez Hills

Pipeline

‘Cortez segment, the Jewel’

Mule Canyon

Fire Creek

Carlin

Midas

Nevada’s gold deposits:• Several >20 million oz• Produces 5.5 million oz/yr• 80% of US production • 10% of world production

Pinion

VIO

Buckhorn

Betze/Post

Major DepositsEocene Carlin-PorphyryMiocene Epithermal

Lone Tree

Turquois Ridge

Vantage

NuLegacy’s Red Hill property

I-80

HWY-50

Two circles host seven of the world’s 30 largest gold mines:• Four in the North Carlin trend• Three in the Cortez segment



9

‘Anticlinal’ giants of the Cortez trend

Legend

• Gold Deposits

• Exploration Targets

Clusters of deposits with multiple horizons, the Cortez “complex”:• Produces ~ one million oz/yr• 20% of Barrick’s production• 50+ million-oz gold endowment

Multiple horizons

1989 - Pipeline ~21+ M oz @ 2.5 g/t

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

1999 - Cortez Hills ~15+ M oz @ 4.1 g/t

Avocado NuLegacy’s 108 sq.kmRed Hill Property1Serena



10

Goldrush value proposition

NuLegacy Gold CorporationRed Hill property

Current Market Cap:~C$25,000,000

*NCF no longer reported separately

Cortez operations2(a)

2017 Production (oz) ………......1,330,000All-in sustaining cost/oz ….........…. $6242017 Net Cash Flow…….US$841,890,000*Gold price: ~ US$1,250

Goldrush2(b)

Est. 2021 Production (oz) ……..….…450,000All-in sustaining cost/oz .....…………… $620Est's 2021 Net Cash Flow... US$306,000,000*Gold price: ~ US$1,250

Serena

Avocado



11

Multi-million-ounce Goldrush anticline

As of:• Jan 2008 ~ 2.2 million oz• Jan 2009 ~ minimal drilling • Jan 2011 ~ 7.1 million oz• Jan 2013 ~ 14.1 million oz• Jan 2014 ~ 20+ million oz• Jan 2016 ~ 10 million oz @ 10 g/ti• ~ 2021 ~ prod @ ~ 450,000 oz/yr

From discovery to a ‘Tier 1’ asset in three years.

i Goldrush recategorized as underground resource2

(Barrick Gold, 2018)

Goldrush:• 6+ kilometer anticline, • highly fractured favorable Wenban5

horizon at average 350 meter depth,• averaging 10 grams/ton gold,• axial crest (dome) 150 – 450 meters in

width, 50 to 75 meters in thickness

80 ft @ ~1 oz Au/t =24.4 m @ ~28 g Au/t

145 ft @ 0.50 oz Au/t =44.2 m @ 16 g Au/t



Timeline of transformation of Red Hill

12

2017’ major geochemical, geophysical and ‘wildcat’ drilling programs

resulted in ‘breakthrough’ analysis

On trend with similarstratigraphy

Both strongly mineralized systems

Highly faulted/fractured anticlinal structures with high-grade gold at

intersection of:

2016-2020 refocused on deeper higher-grade opportunity

1. low-angle thrust faults

3. in Wenban5 stratigraphic

horizon

2. high-angle faults

2018-19 affirmed stratigraphic connectors between Barrick’s Goldrush

and NUG’s Red Hill gold systems1



Stratigraphic trend projections

Cortez Hills

Pipeline/Cortez operation

Buckhorn trendGoldrush trend

A A’

13

Buckhorn mine

Rift Anticline

NuLegacy’s 108 sq.kmRed Hill Property1

Goldrush



14

“Favorable geological fairway” - plan map

West Rift

Avocado

WS18-01

Red Hill property boundary

WesternSlope

SerenaOffset

Cross-section A A’

CentralIceberg

Rift Anticline

4 MileLook-alike

N N’North Iceberg

Prioritized Drill Target Areas

1 2 3

NULEGACY’S 108 KM2

RED HILL PROPERTY



15

Fall 2017 North Iceberg N-N’ x-section3

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

SR17-02

≥ 1.0

0.8

0.6

0.4

0.20.1

* RHB-40 sits appx. 300 m south of this section

N’N

SR17-01: 2.27 g/t in 13.8m

within 50.3m of 1.00 g/t

SR17-08C:14.74 g/t in 3.2m


RHB-40*: 11.0 g/t in 12.2m


RHB-64: 4.51 g/t in 10.6m


Initially logged with the understanding of the day, recognizing the commonly known stratigraphy.



16

Fall 2018 reinterpreted North Iceberg x-section3

Tv

Dw5

Dw4

SR17-09 SR17-01

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-62

RHB-17

Long Fault

RHB-49

SR17-02

“You can see from the core box, that without a ‘trained eye’ it would be very difficult to distinguish the various horizons and low-angle faults...”

N’N

SR17-01: 2.27 g/t in 13.8m


SR17-08C:14.74 g/t in 3.2m


RHB-40*: 11.0 g/t in 12.2m


RHB-64: 4.51 g/t in 10.6m


* RHB-40 sits appx. 300 m south of this section

Relogging with evolved understanding of more complex stratigraphy with the gold in Wenban5 near low-angle ‘feeder’ faults (possibly reactivated normal faults during late

extension).



17

Stalking the Rift Anticline3:- high-grade intercepts on eastern flank

Rift Anticline

Series of high-grade gold intercepts in thin Wenban5 horizon spanning ~ 1,500 meters on the eastern flank of the Rift Anticline – powerful system lurking nearby!

North Iceberg RHB 2015-40:11.0 g/t gold in 12.2m


Serena 2018-02:16.9 g/t gold in 8.7m


Western Slope 2019-02:9.6 g/t gold in 5.1m


WS18-01


2019 Drilling


1

High-grade Intercept

2 3

1 kilometer



18

Stalking the Rift Anticline3:- Fall 2018 CSAMT survey points to the Rift

L4433800

L4433000


2019 DrillingExisting CSAMT


1

1 kilometer


2 3

Several series of Controlled-source Audio-frequency Magnetotellurics (CSAMT) geophysical survey lines provided additional structural and stratigraphic indications.

Rift Anticline

WS18-01









400 m

Tb

Tv

Dhc

DwU Dw5

DwL

Vio

WesternSlope

Spring 2019 Rift tectono-stratigraphic* interpretation4

High-angle faults Low-angle faults

The high-grade occurs at:• the intersection of the low-angle west dipping compressional/extensional

faults and high-angle faults (fracture zones),• when these intersections occur within the favorable Wenban5 (Dw5)

stratigraphic horizon, as,• the Dw5’s elevated iron content enhances the precipitation of gold as the

several pulses of gold-bearing hydrothermal fluids pass through it, and,• the antiformal axial crest acts as a constraint.

The most favourable stratigraphy is Dw5 (Wenban5)

Fourmile‘look-alike’ Rift

AnticlineSerenaOffset

4.5 km of Northern Nevada Rift looking north

A A’

19

WS18-01

“Exhaust plume”

Iceberg

*layered sedimentary/volcanic rock formations

DwL



20

Fall 2019 CSAMT indicates thicker carbonates

L4433800

West Rift

Avocado

L4433000

Rift Anticline

WS18-01

Red Hill property boundary2019 Drilling

Existing CSAMTPreliminary Target


Winter 2019: (CSAMT) survey lines indicate possible 4.5+ km length for the Rift Anticline - open on both ends; more CSAMT surveys planned for summer 2020.

Rift Anticline

1 kilometer

Winter 2019-line L4433000



21

Winter 2019 CSAMT interpretation4

Line 4433000Rift Anticline

CSAMT analysis indicates the Rift Anticline has numerous high-angle faults (blue arrows) and a swarm of low-angle thrust faults (yellow arrows) intersecting them

within the Wenban5 axial crest (yellow outline).

Western Slope

WS18-01

500 m

Fall 2019 CSAMT lines indicate a 90+ meter thickness of favorable Wenban5 horizon possibly up to 1,500-meters wide in Rift

Anticline in axial crest (dome) deformation.

Dw5Dw5500 m

Approx. 1,500 meters



22

Winter 2019 structural* interpretation1,4

In Carlin systems the high-grade occurs at the intersection of northeast trending high-angle faults and low-angle thrust

faults….

500 m

Tb Tb

TvTv

Dw8-6

Dw5

Dw5

Dw5

Dw4

Line4433000WS18-01

DSrmLow-angle thrust faults

Dw5Dw5

RiftAnticline

2019

500 m

Rift Anticline

…when these fractures occur within the favorable Wenban5 (Dw5) stratigraphic horizon.

Dw5

*rock deformation/faulting at large and small scales

High-angle faults

Dw4

Dw5



23

Stratigraphic column comparison1

Gold occurrences

350 m

0

TBD= To Be Determined

175 m

* Inferred4

Dw5

Dw5 Dw5

Goldrush Rift Anticline* Serena ZoneLength ~ 6.2 Km ~ 4.5 km ~ 900 mWidth ~ 150-450 m ~ 700-1,500 m ~ 30 mWenban5 thick ~ 76 m ~ 90++ m ~ 10 m (fault zone)Mineral thick ~ 50-75 m TBD ~ 9.7 mDepth ~ 350 m avg. ~ 275 m avg. ~ 113 mAverage Grade ~ 10 g/t TBD ~ 5.1 g/t



Sept 2020

24

2020-2022 exploration programs/objectives

Sept 2019

• $400,000 expansion of Plan of Operations (POP)

Jan to May 2020:

• Biologic, raptor, cultural surveys for POP

• 2019 exploration data into geologic model to refine targeting

May to Aug 2020:

• CSAMT lines, follow-up mapping and sampling

• Develop specific Rift Anticline drill sites plan

• Anticipated receipt of expanded POP

• Finalize drill targets

Oct 2020 to 2022

• Commence Rift Anticline drilling program

• Discover Tier 1 asset• Merger/JV to develop to production



25

Spring/ summer 2020 CSAMT- measuring the Rift Anticline

L4433800

L4433000


L4429800

More CSAMT to come this summer

Rift Anticline

WS18-01

2019 DrillingExisting CSAMTPlanned 2020 CSAMT


1


2 3

1 kilometer









26

Goldrush – Rift footprint comparison1

GoldrushComparison

Gold Zones

3 Km

Avocado

SerenaNorth Iceberg

Central Iceberg

South Iceberg

RED HILL PROPERTY108 sq. km/42 sq.

mile)

WS18-01



27

A matter of size and quality

To date Cortez trend has three of the largest, highest grade and politically safest gold deposits in the world:

..the Cortez….one of the largest endowments of gold in the world.

• 50 million+ oz gold endowment, producing ~ 1.0 million oz per year• At remarkably low AIS-Cost of $620 per ounce of gold2(b)



28

Pennies to dollars5

Exploration Stock Pricing on Discovery Success

Organize exploration andmanagement teamwith track record of success

Exploration Stock Pricing on Discovery Success

1

Market Value:$0 - $5 million

“Example” Ltd.

Secure highly prospective land positions; initiate exploration

Market Value:~$25 - $35 million

2Announce significant gold discovery

Market Value:~$35 - $150 million

3Confirm significant gold discovery

Market Value:~$500 million

4 Bought out or Merged Market Value:~$1 to $5 billion +

5



29

NuLegacy Gold Corporation

‘Once you’re done buying bullion and producers, the leverage is in exploration companies…’

Bull move: 200 days Jul, 2010 to Apr, 2011

+26.1%

-30.1%

-9.8%

-38.8%Gold

SeniorProducers

JuniorExplorers

Bear move: 200 days Jan, 2014 to Nov, 2014

Gold

JuniorExplorers

SeniorProducers

+70.7%

+24.1%



30

7 largest NUG insider’s buying last 18 months

The three NuLegacy news releases listed below make a compelling case that the Rift Anticline is a Goldrush analogue; plans are to drill this fall to determine the size of this

elephant1.

• Aug 27, 2018 – NuLegacy drills 16.9 grams/ton (1/2 oz gold!) over 8.7 meters.• Feb 11, 2019 – NuLegacy transforms Red Hill. • Feb 18, 2020 – NuLegacy drills 9.6 grams/ton over 5.2 meters.

Albert Matter

Alex Davidson

John Budreski

Charles Weakly

James Anderson

Roger Steininger

Edward Cope

OB Jan 1, 2018 3,750,000 1,294,000 739,000 10,000 3,737,500 2,166,666 0 OM Mar 2018 $0.18 290,000 $0.18 PP Jul 2018 500,000 $0.20 250,000 200,000 $0.20 200,000 $0.20 100,000 100,870 500,000 $0.20 OM Sep 2018 125,000 $0.18 OM Feb 2019 250,000 $0.14 OM Jun 2019 (465,000)* $0.04 OM Jul 2019 $0.03 500,000 $0.03 PP Oct 2019 2,819,691 $0.08 1,500,000 $0.08 1,000,000 1,000,000 $0.08 400,000 $0.08 OM Mar 2020 1,607,000 $0.04 550,000 $0.04

Net acquisitions 5,176,691 2,300,000 1,200,000 990,000 760,000 500,870 500,000 since Jan 1, 2018

Current Balance 8,926,691 3,594,000 1,939,000 1,000,000 4,497,500 2,667,536 500,000

OB – Opening balance OM - Open MarketPP Private Placement* Dissatisfied relative

https://www.nulegacygold.com/news/news-releases/nulegacy-gold-provides-exploration-update-on-serena-zone/

https://www.nulegacygold.com/news/news-releases/nulegacy-transforms-red-hill/

https://www.nulegacygold.com/news/news-releases/nulegacy-gold-drills-9.6-grams-gold-over-5.1-meters/



31

Ten kilometers across rift valley1

Barrick’s Goldrush~10M ounces of gold @10.2 g/t2

~ Exploring for the fourth Tier 1 gold asset in the

Cortez gold-trend of Nevada ~



32

Endnotes1. The structural, stratigraphic and geochemical similarity and proximity of Goldrush to the Rift

Anticline is not necessarily indicative of the gold mineralization at Rift Anticline. To date, thereare no known NI 43-101 compliant mineral resources or reserves on NuLegacy’s Red Hillproperty.

2. Barrick reports Goldrush resource contains 8.557 M indicated oz. of gold within 25.78 M tonnesgrading ~10.57 g/t and 1. 65 M inferred oz. within 5.6 M tonnes grading ~9.0 g/t.:

a) As per Barrick Gold’s 2017 MD&Ab) As per Barrick Gold’s Feb 15, 2017 news release.

3. The reported intercepts are not necessarily true widths as there is insufficient data currentlywith respect to the shape of the mineralization to calculate its true orientation. All sampling wasconducted under the supervision of the Company’s project geologists and the chain of custodyfrom the project to the sample preparation facility were continuously monitored. The sampleswere delivered to American Assay Lab or ALS laboratories’ preparation facility in Nevada andsufficient commercially prepared standards, blanks or certified reference materials wereinserted to assure quality analytical results. The samples were crushed, pulverized and samplepulps were analyzed using industry standard fire assay methods. Data verification of theanalytical results included a statistical analysis of the standards, blanks and referencematerials that must pass certain parameters for acceptance to ensure accurate and verifiableresults.

4. This interpretation is conceptual in nature and not necessarily indicative of the actual thicknessof favorable Wenban5 horizon, elevated iron content or intersection of high-angle faults andlow-angle thrust faults within the Rift Anticline target, pending confirmation by drilling.

5. This chart is conceptual in nature and not necessarily indicative of NuLegacy’s future potentialvalue or discovery success.



33

DisclaimersForward Looking Statements Disclaimer

This presentation provides information in summary form, is not intended to be complete and may contain errors. No representation, warranty orguarantee of any kind, express or implied, is made as to the fairness, accuracy or completeness of information contained in this presentationincluding the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, results or statements in relation to futurematters. NuLegacy is not liable to any recipient or third party for the use of or reliance on the information contained in this presentation.

This presentation also contains forward-looking information and statements under applicable securities laws, which information and/orstatements relate to future events or future performance (including, but not limited to, the estimated length, width, thickness, structural andgeochemical characteristics and prospective nature of identified targets and stratigraphic horizons including the Rift Anticline target andWenban5 horizon, the timing, cost and likelihood of securing the Company’s expanded plan of operations for Rift Anticline, anticipated resultsfrom future exploration and drilling programs and the number, location, timing and cost of proposed drill targets and CSAMT surveys) and reflectmanagement’s current expectations and beliefs and are based on assumptions made by and information currently available to the Company.Readers are cautioned that such forward-looking information and statements are neither promises nor guarantees, and are subject to risks anduncertainties that may cause future results to differ materially from those expected including, but not limited to, actual results of explorationactivities, environmental risks, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, the availability offinancing, market conditions, future prices for gold, changes in personnel and other risks in the mining industry. In addition, there is uncertaintyabout the spread of the COVID-19 virus and the impact it will have on the Company’s operations, personnel, global supply chains, ability toprocure exploration equipment and contractors on a timely basis and economic activity in general. There are no known resources or reserves inthe Red Hill Property and any proposed exploration programs are exploratory searches for commercial bodies of ore. In addition, the presence ofgold resources on properties adjacent or near the Red Hill Property including Goldrush is not necessarily indicative of the gold mineralization onthe Red Hill Property. All forward-looking information and statements made in this presentation are qualified by these cautionary statements andthose in our continuous disclosure filings available on SEDAR at www.sedar.com. The forward-looking information and statements in thispresentation are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events orcircumstances save as required by applicable laws.

Nothing in this presentation constitutes an offer to sell or the solicitation of an offer to buy any security and it is not intended to be relied upon asadvice to investors or potential investors and does not constitute a personal recommendation or take into account the investment objectives,financial situation or needs of any particular investor.

Roger Steininger, a director of NuLegacy, is a Certified Professional Geologist (CPG 7417) and the qualified person as defined by NI 43-101,Standards of Disclosure for Mineral Projects, responsible for approving the scientific and technical information contained in this presentation.

http://www.sedar.com/



34

Gold or governments, that is the question?

“When you have to choose between trusting to the natural stability of gold or the natural stability, honesty and intelligence of the members of the

government [and the media], with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.”

George Bernard Shaw



35

Communications Co-ordinates

CorporateAlex Davidson, Chairman [email protected] Matter, CEO [email protected] Cope, Exploration and Evaluations [email protected] Lee, CFO [email protected] Tessman, Corporate Administrator [email protected]

ExplorationMark Bradley, Nevada Exploration Manager [email protected] Weakly, District Geologist [email protected] Mounts, Drilling Supervisor [email protected] Dowell, Geotechnical/Database Administrator [email protected] Kellie, Project Geologist [email protected] Springs, Geologist [email protected] Newbury, Community Liaison Officer [email protected]

Operations Office:5450 Riggins CourtSuite 1BReno, Nevada89502Ph: 775-825-0494

www.nulegacygold.com

Finance & Admin Office:1055 West Hastings St. Suite 300Vancouver, BC.V6E2E9Ph: 604-639-3640Fax: 604-909-1710

http://www.nulegacygold.com/

The Rift Anticline as the Goldrush Analogue · ~ The Rift Anticline as the Goldrush Analogue ~ May...

Documents

Transcript of The Rift Anticline as the Goldrush Analogue · ~ The Rift Anticline as the Goldrush Analogue ~ May...