Legend Gold Corp.

Legend Gold Corp.

January 30, 2012 15:39 ET

Legend Gold Discovers New Mineralized Zone 13 Meters of 3.42 gpt at Lakanfla

TORONTO, ONTARIO--(Marketwire - Jan. 30, 2012) - Legend Gold Corp. (the "Company" or "Legend Gold") (TSX VENTURE:LGN) is pleased to announce the discovery of a new gold bearing zone (called Zone 4) at Lakanfla. The company was following up on a positive grab sample from last June that assayed at 31 gpt. The table below highlights the results of a recently completed DD drilling program at Lakanfla. The purpose of the program was to determine the orientation of the mineralization in Zone 1 to aid in placement of future drill programs. Three holes were drilled and two of them reported gold values. At the same time we decided to drill two holes at the northern part of the concession and Hole 11LKDD_04 reported 13 meters at 3.42 gpt starting at 8 meters from the surface.

CEO Doug Perkins commented, "This is exciting as we can now expand upon the footprint of the existing zones of mineralization on the permit. We have also completed 7 small trenches in the new Zone 4 and will report upon them as soon as we receive results".

TABLE 1: Significant Assay Results - "Lakanfla"- 0.2 gram per tonne cut-off (Note 1)
Diamond Drilling
(grams per tonne)
Core Recovery
11LKDD_01 (Zone 1) 12.0 12.6 0.60 1.96 100
11LKDD_02 (Zone 1) 6.00 7.00 1.00 4.37 100
71.0 72.4 1.40 3.42 100
Includes 71.4 71.9 0.50 8.33 100
11LKDD_04 (Zone 4) 8.00 21.00 13.00 3.42 94.7
includes 17.00 19.00 2.00 15.00 100
23.00 27.00 4.00 0.49 91.1
11LKDD_05 (Zone 4) 80.00 82.00 2.00 0.67 70
107.00 108.00 1.00 4.51 73.3

Note 1: Intersections are calculated down the drill holes using a 0.2 gram per tonne (gpt) or 200 part per billion (ppb) assay cut-off and allowing a maximum of 2 metres of internal waste. Assays immediately following the internal waste must carry the waste interval to be included in a particular intersection. "Includes" is calculated using a 1.0 gpt or 1000 ppb assay cut-off with the same internal waste criteria. 0.2 gpt or 200 ppb was chosen as a cut-off to show the wide continuity of the mineralization and to reflect the potential bulk mining of the entire zone. All drill hole inclinations are -55 degrees and true width of the mineralization is 50%-75% of the reported drill intercept depending on the drill angle.

To ensure reliable sample results Legend Gold has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. RC chips are logged and a representative sample is retained in a secured facility for verification purposes. DDH core is logged, photographed and sawn in half where one half of the core is submitted for analysis and the other half retained as a representative sample in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent local laboratory. Prepared samples are direct-shipped to a local independent laboratory; SGS in Kayes, Mali for analysis using a FA50-AAS (Fire Assay on 50 gram sample with an Atomic Absorption finish).

To view the Map associated with this release, please visit the following link: http://media3.marketwire.com/docs/Lakanfla_Diamond_Drilling.pdf.

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 five main projects are the Lakanfla, Mougnina, Tiekoumala, Kata, 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 70,431,324 common shares issued and outstanding (84,691,324 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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