Buying gold deposits made good business sense for junior companies early in this decade when there was little interest in precious metals. Insitu gold reserve ounces (Proven and Probable ) could be bought for as little as $2.50/ounce while gold in the vault was priced at $250.00/ounce - a 99% discount.

Today with gold priced at $1,200+ per ounce, senior companies are paying $350 to $500 per Measured, Indicated and Inferred resource ounce (a much lower confidence category than P&P). Thus it is prohibitively expensive for junior companies to compete and it makes more sense for them to create value by assuming the more traditional role of ‘discovering’ ounces rather than buying them.

Discovering ounces for a few dollars per ounce and selling them for several hundreds of dollars per ounce is still a good business model and that is NuLegacy Gold’s mission: the discovery of significant multi-million ounce gold resources/deposits for vending to intermediate or major gold companies.

By opportunistically acquiring two highly prospective Prospects early in the recovery from the Crash of ’08, we believe that NuLegacy has skipped the lengthy ‘generative’ exploration process and positioned itself to benefit from the rewards associated with the discovery phase of the exploration to production mining cycle¹.

Upon successfully identifying a gold resource, follow-up delineation drilling budgets will be initiated to optimize the valuation. Once the Prospects’ values are established NuLegacy will seek to vend the resources for stock or cash, or merge with an appropriate and qualified gold producer to form a strategic partnership for their development.