Legend International Holdings Inc. announce the forming of a strategic alliance with Wengfu Group Co. Ltd. (Wengfu) for the development of its phosphate mine, a beneficiation plant and a phosphoric acid plant in the Mt Isa region, Queensland, Australia. Wengfu is currently contracted to provide engineering, procurement and construction services for the large phosphate fertilizer Ma'aden Beneficiation Project in Saudi Arabia which is due for completion in 2010. Legend and Wengfu have agreed to work together on the feasibility study initially for the mining and beneficiation of phosphate rock at Legend's Georgina Basin Phosphate Project in Queensland, Australia. Pending a positive feasibility study, Wengfu and Legend will also investigate the production of speciality phosphate products derived from phosphoric acid manufacture. After completion of a positive feasibility study for the mining and beneficiation, Wengfu will become an equity partner with Legend to strengthen the alliance and share in the benefits of successful development of all stages of the project including the production of specialty phosphate chemical products. Legend strongly believes that Wengfu's experience in all aspects of phosphate rock mining, beneficiation, phosphoric acid production, specialty phosphate chemical production, global marketing strategy and financial capability, combined with Legend's quality phosphate rock assets and management team, makes an excellent partnership to ensure the successful development of the project. The strategic alliance with Wengfu will further advance the phosphate project beyond its initial phase of mining and shipping unbeneficiated phosphate rock pursuant to its existing alliance with IFFCO. Legend's primary focus is the development of its phosphate interests in the Georgina Basin, Queensland, Australia including Paradise (formerly Lady Annie and Lady Jane), D-Tree, Thorntonia, Lily Creek, Quita Creek, Sherrin Creek and Highland Plains. Legend plans to produce an average of 5 million tonnes per year of phosphate rock concentrate of 30% +P2O5 by 2012, thus becoming one of the producers of phosphate rock.

On April 24, 2009, Mt Isa Metals Limited entered into a joint venture agreement with Legend International Holdings Inc. in relation to the DTree phosphate deposit. On September 29, 2009 the company reached agreement with Legend to exit from the DTree Joint Venture. Legend, as manager of the DTree Joint Venture, had invoiced the company $1.739 million for the company's 20% interest in the DTree project for the period September 1, 2008 to June 30, 2009. The company decided to dilute rather than pay the invoices and in accordance with the Joint Venture agreement, the company's interest has been reduced to less than 5%, thus requiring the company to exit the Joint Venture. Further to the above, the company has agreed to a royalty of AUD 0.50 per tonne from any future phosphate product derived from the former DTree Joint Venture tenements.

Legend International Holdings Inc. announced an update to its phosphate project including exploration results from drilling completed so far from the Paradise North deposit. The highlights of this report are: thick (7m), high grade (>30% P2O5) and near surface (average 12m overburden) drill intersections delineated at Paradise North deposit provide Legend with opportunity to produce a higher quality Direct Shipping Ore (DSO) with lower operational costs; paradise North DSO Mining Lease (MLA 90191) awarded No-EIS decision and to be progressed under an Environmental Management Plan consistent with Legend's fast tracked DSO project; and pilot beneficiation plant commissioned and commences operation. Legend has received results for 45 of 108 drilled RC holes. A total of 2,264 metres of drilling is complete with results received so far totaling 1,143 assays. Out of the 45 holes with received results, a total of 33 holes have a significant intercept of greater than 10% P2O5. Two east-west cross sections through the deposit are provided in the full technical report. The sections chosen are in the north of the deposit along northing 7,836,800mN and in the south along northing 7,835,800mN. The sections show the ore continuity over several hundred metres and the significant overall thickness of the high-grade core averaging 7m. Also of note is the close proximity of the ore to the surface. Legend intends to use the drilling results reported here to begin developing an Australian JORC 2004 and United States SME 2005 guidelines for reporting a JORC and SME compliant Mineral Resource estimate for the deposit. This estimate will form part of the preliminary work that will be used to develop a Mineral Reserve estimate for Paradise North. The resource estimate will be completed before the end of 2009. Detailed metallurgical testing including phosphoric acid production testing is currently underway.