Legend Gold Corp.

Legend Gold Corp.

October 15, 2014 08:30 ET

Legend's Gradient-Array IP Survey Results Upgrade Drill Targets on Lakanfla Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 15, 2014) - Legend Gold Corp. (the "Company" or "Legend") (TSX VENTURE:LGN) has completed its review of the recent gradient-array IP survey which has upgraded the potential karst-related oxidized gold targets on the Lakanfla Project, consisting of the Lakanfla and Tinntiba exploration permits.

The gradient-array IP survey at the Lakanfla Project was completed in mid-July 2014 and covered 37 sq km which included all of the Lakanfla exploration permit, and a significant portion of the Tinntiba exploration permit. The review combined the geophysical data with data from termite mound and soil gold geochemistry, data from previous drilling campaigns as well as regional geology, airborne magnetics and ground gravity data reported in the Company's news release dated January 15, 2014.

Six targets have been outlined based on a coincidence of structures intersecting gravity lows (Figure 1: Lakanfla Gravity Compilation). Early drilling indicates that some of these targets in part show thickened laterite cover and karst-fill sediments suggesting holes did not reach basement and consequently did not reach the target zone. The main gravity lows are also coincident with localized strong resistivity lows (Figure 2: Lakanfla IP Resistivity).

The coincidence of the geophysical characteristics, geochemical indicators, and lithological features, greatly enhance the potential for karst-fill mineralization. The genetic model is based on the Yatela Mine (approximately 1.8 M oz historical gold production as reported on the owners' website) which is in similar geology as well as some of the Sadiola Mine satellite orebodies, FE3 and FE4, located about 15 km to the north. Both the Yatela Mine and the Sadiola Mine are owned by a joint venture of AngloGold Ashanti, IAMGOLD and the government of Mali. The exploration model (Figure 3: Lakanfla Karst Model Gold Enrichment) envisages mineralized structures intersecting favorable carbonate host rocks (Kofi Group) on the Lakanfla exploration permit. At such intersections, structures become the preferential locus of carbonate rock dissolution and collapse (karsts) giving rise to residual concentrations of oxide gold mineralization in the karst. At Lakanfla, the presence of a 1 km long artisanal mining area in Kofi Group calcareous siltstones adjacent to a major gravity low, as well as, known mineralization trending into the gravity lows, reinforces the exploration potential of the karst-enrichment model.

The results greatly enhance the exploration potential of the karst-enrichment model and Legend is evaluating various options to explore these exciting targets, which lie 15 km southeast of the Sadiola Mine mill, either on its own behalf or with a joint venture partner.

Qualified Person

Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), Legend's VP 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, Tabakorole (formerly Tiekoumala) 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 thereof or to reflect the occurrence of unanticipated events.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/lgn1015fig1.pdf.

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/lgn1015fig2.pdf.

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/lgn1015fig3.pdf.

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