Legend Gold Corp.

Legend Gold Corp.

December 21, 2011 16:01 ET

Legend Gold Announces Re-Pricing of Private Placement from $0.25 Per Share to $0.20 Per Share

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2011) -


Legend Gold Corp. (the "Company" or "Legend Gold") (TSX VENTURE:LGN) announces that further to its press release dated November 23, 2011, the terms of the non-brokered private placement of common shares have been revised due to market conditions, to amend the share offering price to $0.20 per share from $0.25 per share, for proceeds of $1,000,000.

Insiders of the Company will subscribe for up to 50% (2,500,000 common shares) of the placement. No finders' fees will be payable in connection with the placement.

It is expected that the placement will close by no later than January 5, 2012.

Proceeds of the private placement will be used for continued exploration and development of the Company's gold exploration projects in Mali, and for general corporate purposes.

All of the common shares to be issued pursuant to the private placement will be subject to a four month statutory hold period.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire Services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About The Company

Legend Gold is a mineral exploration and development company focused on exploring for gold in the Republic Of Mali, West Africa. Our five main projects are the Lakanfla, Mougnina, Tiekoumala, Diokeba, and Mogoyafara projects. In recent years, we have made significant gold discoveries on the Tiekoumala project located in Southern Mali, and the Lakanfla project located in Western Mali. Legend Gold has 65,431,324 common shares issued and outstanding (79,691,324 shares on a fully diluted basis). Please visit our website www.legendgold.com to view project details and planned exploration programs.

This press release has been prepared by Legend Gold Corp.

This news release may contain forward‐looking statements that are based Legend Gold Corp.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward‐looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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.

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