The Gold Report

Legend Gold Corp. TICKER: LGN:TSX.V Visit Company Website Legend Gold Corp. (previously North Atlantic Resources Ltd.) is a Canadian-based exploration and development company focused on Mali, West Africa, where it boasts a premier land position totaling 730 sq km. The company's flagship projects, Teikoumala and Lakanfla and new key acquisition, Mougnina, are located in the prolific Birimian rock, where the potential for discovery is robust. Lakanfla and Mougnina are situated adjacent to major producing mines, Sadiola and Syama respectively. The Teikoumala gold project hosts NI 43-101 resource of ~600 Koz gold. Legend Gold's other Malian gold projects include Diokeba and Dalakan. Legend's internationally experienced management and board of directors are success driven and growth oriented. Its Malian team has put five gold discoveries on the map in Mali.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Jay Taylor, Gold, Energy & Tech Stocks (10/17/11) "Legend Gold Corp.'s prospects in Mali West Africa are spectacular, in my view, and with a market cap of a mere $15M, I believe this is the kind of stock that definitely has tenbagger potential."

Anna Michniewicz, Edison Investment Research (6/10/11) "Expecting New Assay Results from Tiekoumala Gold Project: The most advanced project in Legend Gold's portfolio is the Tiekoumala gold project, which has an NI-43-101-compliant resource of 7.88 Mt. at 0.95 g/t Au for 0.24 Moz. gold (indicated) and 10.5 Mt. at 1.05 g/t Au for 0.35 Moz. gold (inferred). The property, located in southern Mali, consists of 522.5 km2 of mineral rights in three contiguous exploration permits in the Birimian Massigui greenstone belt. . .since July 2010, the company has been conducting extensive geochemical sampling, which has identified several highly prospective gold occurrences in the area requiring further detailed exploration."

Jay Taylor, Gold, Energy & Tech Stocks (4/1/11) "Let me review several reasons why I think Legend Gold Corp. is a good bet for a double or more over the next several months: The company currently has a 600 Koz. 43-101 resource. These are ounces that should be accessible to open-pit mining with relatively low stripping ratios. In all likelihood, those ounces should grow dramatically. I say that based on: 1) a new discovery 14 km to the north of the existing 600 Koz.; 2) at least 12 known gold anomalies between the existing 600 Koz. and the new discovery; and 3) the potential for gold to be extended at depth where drilling below the current resource level revealed the same gold mineralization. Infrastructure is good, water is ample and a power line is not far away, although other projects in the country are doing quite well with diesel-generated power. The country has become the third-largest gold producer in Africa over the past 15 years. IAMGold and Anglo are major company operators there so a legal and regulatory system is in place to enable projects to move forward. Early indications suggest gold to be mostly free milling, suggesting no major surprises in terms of capital and operating costs for extraction of gold from the ore. The company has a second 100%-owned property known as the Lakanfla Project (formerly the Kantela Project) that geologists believe hosts the continuation of gold mineralization from the Sadiola Mine to the south. . . the bottom line is that Legend Gold appears to have the potential to outline not one but two multimillion-oz. gold deposits."

The Gold Report Interview with Taylor MacDonald (2/9/11) "North Atlantic Resources [will] be renamed Legend Gold Corp. (TSX.V:LGN). Legend will focus on gold exploration in Mali and is involved in both of the prolific gold belts there. The company is well cashed up, with $3.4M cash on hand, plus it expects another $6M from warrants in the near term. If I had to characterize this company, I'd say it's a clean investment with a clear exit strategy. Management will be able to extrapolate a lot of value from its projects.

. . .It's got an aggressive drilling program over the next six months—30,000 meters of drilling on two projects between now and June is very aggressive. The company mobilized drills at its FT Project in December and should be drilling 20,000 meters over the next six months. There's a 600,000 oz. (600 Koz.) resource there at present, but. . .I'd expect the company to find more of these structures and possibly grow the resource. I'd anticipate somewhere in the ballpark of 1.5–2.5 Moz. from FT when all is said and done. At Kantela, the company has a non-compliant resource of 130 Koz. that sits within spitting distance of the Sadiola Gold Mine. There's considerable upside from there. . .One could easily see Kantela as a tasty morsel for its next-door neighbor [AngloGold Ashanti], either to partner with or buy outright—especially if the company encounters success with 10,000 meters of drilling slated for this year." More >

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