LEGEND MINING LIMITED — Capital/Financing Update 2003

Jun 23, 2003

ANNOUNCEMENT

Australian Stock Exchange TO:

FAX NO. (08)-9322 3800

ATTENTION: Company Announcement Office

FROM: Greg Ledger

24th June 2003 DATE:

PAGES NO. 1

SUBJECT: Placement

The information contained in this message is CONFIDENTIAL and is intended only for the use of the addressee/s only. Could you please notify us if you receive this message by mistake.

Message:

Legend Mining Limited advise a placement of $5,000,000$ fully paid shares to existing shareholders at an issue price of one and one half cents per share has been completed. The funds raised $(\$75,000)$ will be used as working capital.

Yours faithfully,

Greg Ledger Company Secretary