Legend Gold Corp.

Legend Gold Corp.

May 05, 2011 12:59 ET

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

Plans to drill up to 10,000 metres at Lakanfla

TORONTO, CANADA--(Marketwire - May 5, 2011) -Legend Gold Corp. (the "Company" or "Legend Gold") (TSX VENTURE:LGN) is pleased to report that it has commenced drilling at its 100% owned Lakanfla Project ("Lakanfla") in the Republic of Mali, West Africa today. Up to 10,000 metres of combined reverse circulation ("RC"), and air core ("AC") drilling at Lakanfla is planned to test strike extensions of its previously discovered Zones 1, 2, and 3 as well as soil and termite mound geochemical anomalies proximal to the discovery zones (see press release dated February 4, 2011 and March 30, 2011).

The Lakanfla project is contiguous to the southern boundary of the Sadiola Gold Mine property (AngloGold Ashanti, IAMGOLD, SEMOS) ("Sadiola") and is situated 10 kilometres southeast of the Sadiola main open pit (6.5 million ounces of gold production). Mining is currently underway at two of Sadiola's satellite orebodies, FE3 and FE4, which are located within one kilometre of the Lakanfla permit boundary. The FE3 and FE4 pits have produced over one million ounces for Sadiola.

The Lakanfla Project consists of the Lakanfla permit (24 square kilometres) and the Tinntiba permit (25 square kilometres). The Lakanfla project forms a key part of the Company's strategy to explore and expand its gold discoveries along strike of the Sadiola Gold Mine.

Scott Waldie, President and CEO of Legend Gold said, "We are very excited to get this drilling underway at Lakanfla. With the development of the FE3 and FE4 orebodies at Sadiola so close to our boundary, we have very high expectations for our exploration success at Lakanfla. We are pleased to have engaged the services of internationally established drill services provider, Boart Longyear, and their professional staff for this drill program. The 2011 exploration program at Lakanfla is budgeted at $800,000."

Mr. Waldie is also pleased to announce that MI3 Financieres Communications Inc. ("MI3") of Montreal, Quebec has been engaged to provide market-making activities. Market-making activities will be provided in conformity with TSX-Venture Exchange Policy 3.4 and applicable Securities Laws in Canada. Subject to the requirements and normal procedures of trading on the TSX Venture Exchange, MI3 will post bid and/or ask prices to correct temporary imbalances and facilitate an orderly market for the Company's shares. The compensation for the services rendered by MI3 shall be $6,250 per month (plus applicable taxes) for a renewable four month term commencing on May 5, 2011 . MI3 is a new age financial communication Service Company geared for today's global economy. Based in Montreal, MI3 has an experienced team of financial professionals who have, through the years, created a privileged high-value network of individuals and institutions.

About Legend Gold

Legend Gold is a gold exploration and development company focused on exploring for gold in the Republic of Mali, West Africa, one of the world's fastest growing gold producing regions. Our four main projects are the Tiekoumala, Lakanfla, Diokeba, and Dalakan Projects. Currently a program consisting of up to 20,000 metres of combined RC and AC drilling is underway at our Tiekoumala project. 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 61,309,458 common shares issued and outstanding (82,543,018 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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