TORONTO, ONTARIO--(Marketwire - Dec. 3, 2012) - Legend Gold Corp. (The "Company" or "Legend Gold") (News - Market indicators) announces that the new Kata convention has been signed by the Minister of Mines today December 3, 2012. The Kata permit (formerly Diokeba) in Western Mali comprises 64 square km, located about 25 km southeast of the 12 Moz Au Sadiola Gold Mine, operated by Anglo-Ashanti in the Republic of Mali. It is less than 5 km from the south east corner of the Lakanfla/Tintiba permit block.
The prospect covers the Kofi Formation, which is the host sequence to the Sadiola deposit. The property has significant gold in soil and termite mound anomalies, trending northeast, parallel to the regional stratigraphy and known gold-bearing structural trends. These anomalies were initially discovered in regional government-sponsored geochemical sampling and later by Legend Gold Mali.
Under this new convention, the company should spend an equivalent of $1.032 Million on exploration work during the initial three year period, mainly continuing target verification work.
At the same time, Legend Gold announces the retirement of Anthony P.L. Lloyd from the Board of Directors of the Company effective December 1, 2012. Mr. Lloyd has been a director of the Company since 2002. CEO Doug Perkins stated "On behalf of my fellow directors and staff, I thank Anthony for his contribution to Legend Gold since becoming a Director and for his leadership as Head of the Audit Committee."
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. 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.