Southern Legacy Minerals Inc.

Southern Legacy Minerals Inc.

August 23, 2012 15:47 ET

Southern Legacy Appoints Fernando Pickmann as CEO

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2012) - Southern Legacy Minerals Inc. ("Southern Legacy" or "the Company") (TSX VENTURE:LCY) is pleased to announce the appointment of Fernando Pickmann as the Company's Chief Executive Officer, effective immediately. Mr. Pickmann replaces Cesar Lopez, who served as interim CEO and will remain the Chairman of the Company.

Mr. Pickmann, who is also a Director of the Company, brings a wealth of experience to Southern Legacy. He has worked as a lawyer in Lima, Peru, for the last 18 years and has a longstanding involvement with the mining sector. Mr. Pickmann worked for Centromin Peru S.A., the Peruvian Government's mining privatization division, as a legal advisor. Over the span of his career, Mr. Pickmann has successfully managed the listing and financing of several junior mining companies on the Lima Stock Exchange. Mr. Pickmann is currently a Director of two TSX-V listed companies: AndeanGold Ltd. and Estrella Gold Corp. and also sits on the board of PetroPeru, a large Peruvian state-owned oil company. He is a graduate of the University of Lima with a degree in Law and earned his LL.M. from the Instituto de Empressa (IE Law School) in Madrid, Spain.

"Fernando has extensive experience advising companies in Peru and is an ideal candidate to lead Southern Legacy to the next stage of project development," commented Cesar Lopez, Chairman of Southern Legacy. "Mr. Pickmann's unparalleled knowledge of Peruvian mining laws and his relationships within the Peruvian financial and investment community will be key in the Company's efforts to consolidate the mining claims surrounding the AntaKori Project and prepare it for further exploration."

"Southern Legacy has an excellent asset surrounded by world-class deposits in northern Peru, a team with extensive exploration experience in Latin America and a board of directors committed to develop this project," Mr. Pickmann commented. "I look forward to working with our team to realize AntaKori's potential."

On behalf of Southern Legacy Minerals Inc.,

Fernando Pickmann, CEO

About Southern Legacy Minerals Inc.

Southern Legacy Minerals Inc. ("Southern Legacy") (TSX VENTURE:LCY) is an exploration company with a portfolio of gold and copper projects in South America. Southern Legacy's current projects span along the Andes in Peru and Chile. Led by a management team with over 20 years of mineral exploration and development experience in South America, the team boasts strong relationships with local government officials and stakeholders in the jurisdictions where their projects are situated. Southern Legacy is currently focused on expanding the resource at its flagship copper, gold and silver project AntaKori (formerly known as Sinchao), located in northern Peru between Gold Fields' Cerro Corona and Buenaventura's Tantahuatay mines. The project currently has a NI 43-101 compliant inferred resource estimate of 5.9 billion pounds of copper equivalent at an average copper equivalent grade of 0.92%.

Forward Looking Statement:

Certain of the information contained in this news release constitutes 'forward-looking statements' within the meaning of securities laws. Such forward-looking statements, including but not limited to those with respect to the prices of metals and minerals, purchase payments, estimated future production and estimated costs of future production involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any forecast results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual prices of metals and minerals, the actual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the documents of the Company filed from time to time with the British Columbia Securities Commission.

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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