Southern Legacy Minerals Inc.

TSX VENTURE : LCY
BVL : LCY


Southern Legacy Minerals Inc.

December 10, 2013 15:10 ET

Southern Legacy Announces Private Placement of Units

LIMA, PERU--(Marketwired - Dec. 10, 2013) - Southern Legacy Minerals Inc. (TSX VENTURE:LCY)(BVL:LCY) ("Southern Legacy" or the "Company") is pleased to announce its intention to complete a non-brokered private placement offering of units of the Company ("Units") at a price of $0.12 per Unit for maximum gross proceeds of up to $300,000 (the "Offering"). Each Unit will be comprised of one common share in the share capital of the Company ("Common Share") and one full common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share ("Warrant Share") at a price of $0.18 per Warrant Share at any time prior to 4:30 p.m. (Toronto time) on the date that is two years from the date of the issuance of the Units.

There is no minimum Offering amount. The Company anticipates that certain of its insiders may participate in the Offering; however it is not expected that any new insiders will be created, nor that any change of control will occur, as a result of the Offering.

The Offering is expected to close on or about December 31, 2013 and is subject to regulatory approval, including approval of the TSX Venture Exchange. For further details on the Offering, please contact the Company. All securities issued in connection with the Offering will be subject to a hold period of four months from the date of closing. The net proceeds from the Offering will be used for option payments, expenses related to drilling permit applications and access rights and for general working capital purposes.

Forward-Looking Statement:

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking information relating to the Offering and the use of the proceeds therefrom. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the completion of the Offering and the use of net proceeds of the Offering. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Such factors may include the failure to successfully market the Units and failure to satisfy certain conditions in connection with the issuance of the Units. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services 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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