NuLegacy Gold Closes Private Placement

March 10, 2011 Reno, NV - NuLegacy Gold Corporation (NUG:V) is pleased to announce that it has completed its previously announced non-brokered private placement. The Company has sold a total of 4,370,500 units (the “Units”) at a price of C$0.30 per Unit for gross proceeds of C$1,311,150. Each Unit consisted of one common share and one warrant to purchase an additional common share of the Company for a period of 18 months at a price of C$0.40 during the first 12 months and $0.55 during the last 6 months.

A finder’s fee of 7% cash and a total of 270,000 finder’s warrants (10%) were paid to Haywood Securities Inc. on a portion of the private placement. Each finder’s warrant will entitle the holder to purchase one common share of the Company for a period of 18 months at a price of $0.30.

All securities issued under the private placement are subject to a four month and one day hold period expiring July 11, 2011.

The proceeds of the financing will be used to finance the Company's work programs in the United States and for general corporate purposes.

NuLegacy Gold Corporation is a Nevada focused gold exploration company. The Company has under option:

• the 45 square mile Red Hill Prospect in the well established and prolific Cortez Segment of the Battle Mountain Eureka trend located directly between Barrick Gold’s Cortez Hills operation to the north and the US Gold’s Tonkin Springs operation to the south, and
• the 35 square mile Wood Hills South Prospect which is contiguous to the West Pequop and Long Canyon discoveries in the emerging Pequop gold trend that Newmont is acquiring for approximately $800 million.

Our objective is to discover significant multi-million ounce gold deposits utilizing highly focused exploration programs employing sophisticated techniques for targeting the follow-up drilling to previous exploration successes.

On Behalf Of The Board Of Directors Of NuLegacy Gold Corporation

Albert J. Matter, Chief Executive Officer

For further information please phone 604-638-4959 or contact Albert Matter at albert@nuggold.com or Roger Steininger, COO at roger@nuggold.com; or visit our website at www.NuLegacygold.com

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. 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. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any province or state, which offer can only be made pursuant to a prospectus or registration statement or an available exemption therefrom.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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