LCY

Southern Legacy Minerals Inc. ("Southern Legacy" or "the Company") (TSX
VENTURE:LCY) is pleased to provide a corporate update regarding the current
status of the Company's AntaKori Project in Cajamarca, Peru.


AntaKori Copper-Gold-Silver Project 

The Company continues with its efforts to consolidate mining claims in the
Cajamarca region. To date, Southern Legacy holds 100% interest in a 212-hectare
land package, with an additional 45 hectares pending/in the process of
consolidation. Additionally, the Company is partnered with local government
officials to develop and implement social programs in the communities of
Cajamarca. Southern Legacy plans to reach agreements with all stakeholders in
the community in preparation to pursue the necessary environmental work and
drilling license for the property. In the meantime, the Company has prepared a
preliminary metallurgical testing program for the AntaKori Project, targeted for
completion in Q1 2013.


Corporate Update 

Southern Legacy has decided to streamline its resources to focus on its main
project, AntaKori. With a mandate to advance AntaKori to drill ready status, the
Company plans to evaluate business alternatives for its Puchuldiza and Maricunga
properties in Chile. 


Southern Legacy wishes to inform shareholders both in North America and South
America that efforts are in effect to dually list the company on the Lima Stock
Exchange (BVL). The listing process is expected to be completed by the end of
2012.


"We are actively engaged in building our relationships with local community
members, government officials and potential investors. Listing Southern Legacy
on the Lima Stock Exchange will allow more investors in South America to get
involved in our company." said Fernando Pickmann, CEO of Southern Legacy
Minerals Inc. "While we continue to move forward in getting AntaKori permitted
for environmental work and drilling, we plan to focus our efforts in expanding
our investor base, globally." 


Southern Legacy would also like to announce that Roman Flores, VP Exploration,
and Elina Chow, VP Corporate Development have resigned from their positions to
pursue other business opportunities. The Company would like to thank and wish
Ms. Chow and Mr. Flores all the best in their future endeavors. Southern Legacy
is currently searching for highly qualified replacements for both positions. 


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.

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