Legend Gold Corp.

Legend Gold Corp.

November 28, 2011 09:50 ET

Legend Gold Commences Diamond Drilling at the Lakanfla Gold Project, Western Mali

Plans to Drill Minimum of 500 Metres to Test High Grade Intersections At Zone 1

TORONTO, ONTARIO--(Marketwire - Nov. 28, 2011) - Legend Gold Corp. (the "Company" or "Legend Gold") (TSX VENTURE:LGN) is pleased to announce that diamond drilling at Zone 1 at our Lakanfla gold project ("Lakanfla") in western Mali has commenced. Drilling from the program is designed to test the geological and structural setting on section 8,400 north at Zone 1. Legend's Lakanfla project is located adjacent to the Sadiola Gold Mine ("Sadiola" owned by AngloGold Ashanti, IAMGOLD, and SEMOS).

Selected assays from previous reverse circulation drilling ("RC") (see press release dated June 14, 2011) are set out in the table below:

  • Intersection of 7 metres of 9.53 gpt Au from Hole 11LKRC-005 in Zone 1 (section 8,400 north), including 2 metres of 32.58 gpt Au

  • Intersection of 3 metres of 2.98 gpt in Hole 11LKRC-006 in Zone 1 (section 8,400 north)

All holes will be oriented to 270° azimuth to a maximum depth of 100 metres. The current drill program will add to the Company's understanding of the style and orientation of gold mineralization at Zone 1. Planning and scheduling of a new RC program of infill drilling at zone is dependent, in part, on results of the current diamond drill program. Oxidation typically occurs to a depth of approximately 90 metres within the mineralized zone, so all reported gold intercepts are within the zone of oxidation.

Doug Perkins, Legend Gold's President and CEO, said, "This will be the first diamond drilling undertaken at Zone 1 where high-grade gold mineralization occurs within a broad shear zone of lower-grade gold, which is approximately 50 metres wide. Legend's RC drilling during May and June 2011 has extended Zone 1 from 350 to over 500 metres in length. We are very encouraged by this widespread gold mineralization at Zone 1 and look forward to expanding our drill program this winter after completion of this phase of diamond drilling."

Lakanfla is located adjacent to the Sadiola Gold Mine. Mineralization at Zone 1 is oxidized and described from rock chips as silicified zones within metapelite. This is consistent with mineralization described at the Sadiola's FE3/FE4 satellite pit, which is located four kilometres north of Lakanfla (see press release June 14, 2011).

Mr Perkins went on to say, "This drill program is just the early stage of our goal to explore and develop Lakanfla. This property is located adjacent to the operating FE3/FE4 pit at the Sadiola Gold Mine, which has produced in excess of one million ounces. Grades reported by AngloGold Ashanti, operator of Sadiola, indicate approximate head grades of 2.25 gpt at FE3/FE4. Based on successful results from drilling, Legend Gold will begin infill drilling of Zone 1 in Q1 2012 with high expectations to repeat the success seen at Sadiola's FE3/FE4 ore body. We are very excited to believe that, with continued success at Lakanfla, the opportunity exists for Legend to develop its first gold mining operation in Mali."

Qualified Person

This news release has been reviewed and verified by H. Andrew Daniels, P. Geo, a Qualified Person as defined by National Instrument 43-101. Mr. Daniels has over 25 years of mineral exploration and mining experience, is a Licensed Professional Geologist in the Province of Ontario and a member in good standing.

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 four main projects are the Lakanfla, Tiekoumala, Mougnina, and Mogoyafara projects. In recent years, Legend has 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 for more information about our projects.

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 Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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