Southern Legacy Minerals Inc.

Southern Legacy Minerals Inc.

October 31, 2012 14:49 ET

Southern Legacy Receives Community Approval to Begin Environmental Remediation Work

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2012) - Southern Legacy Minerals Inc. ("Southern Legacy" or "the Company") (TSX VENTURE:LCY) is pleased to announce that it has recently received community approval to begin with the environmental remediation of historic mine workings in its 'Tres Mosqueteros' mining concession, located within its AntaKori copper-gold project (the "Project"). Work will be carried out jointly with members of the community of El Tingo, the owners of the surface rights where Tres Mosqueteros is located. According to the agreement recently signed between Southern Legacy and the community of El Tingo, work will be performed over the next 8 months by experienced local contractors from El Tingo, who have provided this kind of service in the past to other mining companies located in this region.

Fernando Pickmann, the Company´s President and CEO, stated: "This is a major milestone for the Company. Our recently signed agreement with El Tingo is the first community agreement signed in this area in the last 4 years, and shows that the Company´s commitment to working jointly with the communities living within and around the AntaKori Project is paying off for both the Company and the local population. This remediation program will resolve some of the long-standing environmental concerns of community members and is the first step in building a long-term sustainable relationship for the benefit of all those involved in the Project."

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 contained in 294Mt 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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