Legend Mining (ASX:LEG) Raises $3.42M Through Share Placement

Sydney, Dec 29, 2009 AEST (ABN Newswire) - Legend Mining (ASX:LEG) (PINK:LGDMF) is pleased to announce a placement of 120 million new shares at $0.03 per share largely to institutional clients of CPS Securities, to raise A$3.42 million.

Legend has recruited an experienced exploration geologist with considerable African experience, Mr John Stockley, to the position of Cameroon Exploration Manager. Mr Stockley will reside in Yaoundé, the capital of Cameroon from February 2010.

Legend Managing Director Mr Mark Wilson said, "This money coupled with the full time presence of the Exploration Manager enables us to fast track the project whilst protecting the existing treasury position".

The planned exploration programme in Cameroon remains on track with the helicopter borne magnetic survey expected to start in early January 2010. Priority target areas identified by the survey will be followed up with geological mapping, geochemical sampling and trenching. Drilling of these priority areas is envisaged for May-June 2010.

For further information and announcements visit:
http://www.legendmining.com.au

Contact

Mr Mark Wilson Managing Director Mr Derek Waterfield Exploration Manager TEL: +61-2-9212-0600