Legend Announces Joint Venture on Pitiangoma Est Property in Mali

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2015) - Legend Gold Corp. (the "Company" or "Legend") (TSX VENTURE:LGN) is pleased to announce that it has entered into agreements (the "Agreements") with Resolute Mining Ltd ("Resolute") (ASX:RSG) to form a joint venture company ("JVCo") for the Pitiangoma Est Property in southern Mali and to grant Resolute an option to earn an interest in JVCo.

Under the Agreements, Resolute has the right to earn a 70% interest in JVCo by spending US$3 million over four years, of which US$500,000 is a required, and not optional, expenditure.

Legend will not be required to fund its 30% share of any expenditures by JVCo until Resolute earns its 70% interest in JVCo and has delivered a feasibility study. At that time, all further expenditures will be funded in proportion to their respective interests. If either party elects to or fails to fund its pro rata share of expenditures, its interest in JVCo will be diluted and if that interest is reduced to a 10% interest, it will be converted into a 2% net smelter royalty on production from the Property.

Pitiagoma Est

The Pitiangoma Est property is an early stage gold project covering approximately 106 square kilometres immediately south of Resolute's Finkolo-Tabakaroni property. It straddles part of the Syama Fault structure which hosts the Syama Mine and satellite orebodies including the Tabakoroni deposit.

Qualified Person

Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), Legend's V.P. of Exploration, is the Company's Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators, and has approved the written disclosure of the technical information contained in this news release.

About Legend

Legend is a Canadian mineral exploration and development company focused on gold exploration in West Africa. Legend's flagship projects include the Diba, Lakanfla, and Mougnina projects and the Randgold JV. Further information is available at the Company's website www.legendgold.com.

This press release has been prepared by Legend Gold Corp. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Company's properties; success of exploration activities; permitting time lines and requirements; time lines for technical reports; planned exploration and development of properties and the results thereof; and planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "suggest", "optimize", "estimates", "forecasts", "intends", "anticipates", "potential" or "does not anticipate", "believes", "anomalous" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration and other objectives concerning its mineral projects can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information.
Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks; certainty of mineral licenses; community and governmental relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Company's lack of operating revenues; governmental regulations and the ability to obtain necessary licenses and permits; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Company's public disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.