LEGEND MINING LIMITED — Capital/Financing Update 2003

Nov 11, 2003

ANNOUNCEMENT

Company Announcements Office Australian Stock Exchange Limited $4^th$ Floor 20 Bridge Street SYDNEY NSW 2000

RE: PLACEMENT

Legend agreed last night to place up to 5.5 million fully paid ordinary shares in the company at 6 cents per share to selected clients of Montagu Stockbrokers. The funds raised (approximately \$330,000) will be used towards the Gidgee Gold Mine Acquisition and Working Capital.

Yours faithfully

Hanay Bonnel.

Murray McDonald Managing Director 12 November 2003