Update on Private Placement and Creation of New Control Person

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED
STATES OF AMERICA


Further to the press release dated May 15, 2013, Legend Gold Corp. (the
"Company" or "Legend Gold") (TSX VENTURE:LGN) is proposing to undertake a
non-brokered private placement of a minimum of 20,000,000 units of the Company
(the "Units") at a price of $0.30 per Unit for aggregate gross proceeds of not
less than $6,000,000 (the "Private Placement"). Each Unit will consist of one
common share of the Company (each, a "Common Share") and one common share
purchase warrant of the Company (each, a "Warrant") entitling the holder to
subscribe for an additional Common Share at a price of $0.55 for a period of
five years from the date of the closing of the Private Placement. The Private
Placement is being completed in connection with the acquisition by the Company
of certain exploration-stage properties in Mali from Endeavour Mining
Corporation (the "Endeavour Acquisition") and the acquisition by a wholly-owned
subsidiary of the Company of Corado Resources Corp. (the "Corado Combination").


Policy 4.1 - Private Placements ("Policy 4.1") of the TSX Venture Exchange (the
"TSX-V") Corporate Finance Manual requires that, where a transaction creates a
new "Control Person", the approval of shareholders (other than such new Control
Person) is required, either by ordinary resolution passed at a meeting of
shareholders or by the written consent of shareholders holding more than 50% of
the issuer's shares. A Control Person, for the purposes of Policy 4.1, includes
any shareholder holding or controlling more than 20% or more of an issuer's
shares, except where there is evidence showing that such shareholder does not
materially affect control of the issuer. 


Certain affiliates of Sprott Inc. ("Sprott") have agreed to acquire Units under
the Private Placement. Upon completion of the Private Placement, as well as the
Endeavour Acquisition and Corado Combination, it is anticipated that Sprott will
have control over 10,240,000 Common Shares and 10,240,000 Warrants (representing
approximately 28.25% of the Company's then issued and outstanding Common Shares
on a partially diluted basis). Sprott will therefore become a Control Person
pursuant to Policy 4.1. As required by Policy 4.1, the Company is seeking the
written consent of shareholders holding or controlling more than 50% of its
Common Shares (the "Consent") to approve the creation of Sprott as a new Control
Person. 


The board of directors of the Company has determined that the Private Placement
is in the best interests of the Company. 


Accordingly, the board recommends that you sign the Consent to the creation of a
new Control Person currently being sent to you. 


Please return a copy of your signed consent to Legend Gold Corp., attention
Jo-Anne Archibald, Corporate Secretary, by email at jarchibald@dsacorp.ca or by
facsimile at (416) 848-0790. 


If you have any questions concerning the Consent, please contact Douglas
Perkins, President & CEO, at (514) 806 6788 or by email at
dperkins@legendgold.com.


About Sprott Inc. 

Sprott is a leading independent asset manager dedicated to achieving superior
returns for its clients over the long term. Sprott currently operates through
four business units: Sprott Asset Management LP, Sprott Private Wealth LP,
Sprott Consulting LP, and Sprott U.S. Holdings Inc. Sprott Asset Management is
the investment manager of the Sprott family of mutual funds and hedge funds and
discretionary managed accounts; Sprott Private Wealth provides wealth management
services to high net worth individuals; and Sprott Consulting provides
management, administrative and consulting services to other companies. Sprott
U.S. Holdings Inc. includes Sprott Global Resource Investments Ltd., Sprott
Asset Management USA Inc., and Resource Capital Investments Corporation. Sprott
is headquartered in Toronto, Canada, and is listed on the Toronto Stock Exchange
under the symbol "SII". For more information on Sprott, please visit
www.sprottinc.com. 


About Legend Gold 

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.


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. 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Legend Gold Corp.
Douglas Perkins
President & CEO
514 806 6788
dperkins@legendgold.com
www.legendgold.com
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