LEGEND MINING LIMITED — Board/Management Information 2020

Jul 19, 2020

ASX:LEG

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20 July 2020

ASX Announcement

Legend Bolsters its Team with New Appointment

• Highly experienced ex-Creasy Group Geologist and Albany-Fraser Orogen expert,

Mr Oliver Kiddie has been appointed as Executive Director of Legend

Legend Mining Limited (Legend) is pleased to advise that it has bolstered its team with the appointment of highly experienced, ex-Creasy Group Geologist and Albany-Fraser Orogen expert, Mr Oliver Kiddie as Executive Director of the Company effective from 10 August 2020.

Following Mr Kiddie’s commencement as Executive Director, Mr Derek Waterfield will step down from the Board and assume the position of General Manager Exploration, remaining focused on the Company’s Rockford Project in the Fraser Range.

The Board effective from 10 August 2020 will be made up of:

• Chairman – Michael Atkins

• Managing Director – Mark Wilson

• Executive Director – Oliver Kiddie

• Company Secretary – Tony Walsh

Mr Kiddie’s appointment heralds a new phase for Legend at its Rockford Project. His technical and management experience in exploration, evaluation and feasibility studies in the Fraser Range will greatly enhance the Company’s capabilities.

Legend's Managing Director, Mr Mark Wilson, said “We welcome Oliver’s appointment to our executive team at this exciting time in the development of the Mawson discovery and the whole of the Rockford project. His arrival adds a dimension to our technical and development capabilities and we look forward to his contribution to the future growth of the company.”

Mr Oliver Kiddie said “I am excited to be joining Legend Mining at this stage in its Rockford Project’s exploration and evaluation strategy. The recent Mawson discovery on the Company’s tenure in the Rockford Project has highlighted the potential for multiple Tier 1 discoveries on the Rockford Project.”

Oliver Kiddie BSc. App Geol. MAusIMM MAICD – Biography

Oliver Kiddie is a geologist with over 18 years’ experience across exploration, resource definition, project development, and production throughout Australia and internationally. He has extensive experience in base metal and gold exploration through senior management and executive positions, working for companies including Dominion Mining, European Goldfields, and most recently as GM Exploration for the Creasy Group. He led the exploration team of the Fraser Range project for the Creasy Group, including the discovery, resource definition, and mining lease application for the Silver Knight Ni-Cu-Co deposit. Mr Kiddie possesses a strong corporate background having managed numerous transactions and joint ventures as key responsibilities of senior management and executive positions. Mr Kiddie is a member of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Company Directors.

Visit www.legendmining.com.au for further information and announcements.

For more information contact: Mr Mark Wilson Managing Director Ph: +61 8 9212 0600

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Registered Office: Level 1 / 8 Kings Park Road, West Perth WA 6005, Australia

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Appendix 1: Remuneration Package for Mr Oliver Kiddie

Mr Kiddie’s remuneration package will be as follows:

• Salary of $300,000 per annum plus superannuation at 9.5%;

• Notice Period – 3 months by either party; and

• Pursuant to Exception 12 in ASX Listing Rule 10.12 and as a one-off incentive, Mr Kiddie will be issued with 7 million 5 year zero exercise priced options under the Company’s Employee Incentive Plan Rules approved at the 2020 AGM (ESOP) as follows (subject to Mr Kiddie remaining in employment during the relevant vesting period):

  • 1.5 million zero exercise price options vesting 12 months after they are issued;

  • 1.5 million zero exercise price options vesting 24 months after they are issued; and

  • 4.0 million zero exercise price options vesting when the 20 day VWAP of shares is greater than the Vesting Price of 28 cents per share for a minimum period of 20 continuous ASX trading days during the life of the zero exercise price options,

and other terms and conditions determined by the Company’s ESOP.

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Registered Office: Level 1 / 8 Kings Park Road, West Perth WA 6005, Australia