Legend International Holdings Announces Revalidation Drilling Has Commenced on Its Queensland Phosphate Landholdings
9/2/2008 6:01:01 AM - Business Wire

MELBOURNE, Australia, Sep 02, 2008 (BUSINESS WIRE) --

Legend International Holdings, Inc. (OTCBB:LGDI) with phosphate projects in the State of Queensland, Australia, announces that drilling has commenced at the D-Tree project which forms part of its Queensland phosphate landholdings, and has substantial historically delineated phosphate projects.

The drilling at D-Tree will be a mixture of reverse circulation and diamond core drilling and the Company plans to drill approximately 20,000 metres at D-Tree over a period of three months, and a further 80,000 metres over the other tenements once D-Tree is completed. The drilling will be used to re-validate historical results, convert the historical results to reserve status, and collect further material for beneficiation test work.

Following completion of the drilling at D-Tree, the drill rig will be moved to further target areas which will include Lady Annie, Lily and Sherrin Creek and Highland Plains. The Company is also investigating the use of a second drill rig to fast track results.

About Legend International Holdings, Inc.

Legend International Holdings, Inc. (OTCBB:LGDI) is a mining and agriculture resource development company. The Company is principally focused on developing its phosphate deposits in the Georgina Basin in Queensland, Australia. The Company's exploration licences include approximately 5.2 million acres in Queensland and the Northern Territory, Australia. For further information please visit our website at www.lgdi.net.

My take on this hinges on the line "The drilling will be used to re-validate historical results, convert the historical results to reserve status, and collect further material for beneficiation test work.

Converting the historical results to reserve status will drive the valuation/ stock value of the company through the roof. The sooner this is completed the better.