LEGEND MINING LIMITED — Capital/Financing Update 2003

Feb 18, 2003

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000.

Name of entity

LEGEND MINING LIMITED

ACN, ARBN or ARSN

22 060 966 145

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 ⁺Class of ⁺securities issued or to be issued

ORDINARY

• $\overline{2}$ Number of "securities issued or to be issued (if known) or maximum number which may be issued
• Principal terms of the +securities (eg, if 3 options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

14,078,221

$N/A$

⁺ See chapter 19 for defined terms.

• $\blacktriangle$ Do the +securities rank equally in all YES respects from the date of allotment with an existing *class of quoted *securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 3 CENTS PER SHARE 6 Purpose of the issue The purpose of the issue is to fund exploration (If issued as consideration for the to upgrade existing gold resources at the acquisition of assets, clearly identify Carlow Castle project. those assets) $\overline{7}$ Dates of entering *securities into 3 April 2003 uncertificated holdings or despatch of certificates Number *Class $\pmb{8}$ Number and +class of all +securities 56,312,886 Ordinary shares quoted on ASX (including the securities in clause 2 if applicable) Number ^-Class 9 Number and ⁺class of all +securities not quoted on ASX (including the securities
• in clause 2 if applicable)
• $10₁$ Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

⁺ See chapter 19 for defined terms.

Part 2 - Bonus issue or pro rata issue

• $11₁$ is security holder approval required?
• $12₁$ Is the issue renounceable or nonrenounceable?
• 13 Ratio in which the ⁺securities will be offered
• ⁺Class of ⁺securities to which the offer $14$ relates
• *Record date to determine entitlements $15₁₅$
• 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?
• 17 Policy for deciding entitlements in relation to fractions
• 18 Names of countries in which the entity has *security holders who will not be sent new issue documents

Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.

• 19 Closing date for receipt of acceptances or renunciations
• Names of any underwriters 20
• Amount of any underwriting fee or $21$ commission
• 22 Names of any brokers to the issue
• 23 Fee or commission payable to the broker to the issue

Non-renounceable

$\overline{1 \cdot 3}$

L.

Ordinary Shares

27 February 2003

Rounding up

21 March 2003

None

None

None

None

⁺ See chapter 19 for defined terms.

24	Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of *security holders
25	If the issue is contingent on "security holders' approval, the date of the meeting
26	Date entitlement and acceptance form and prospectus will be sent to persons entitled	27 February 2003
27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders	N/A
28	Date rights trading will begin (if applicable)	$N/\Lambda$
29	Date rights trading will end (if applicable)	N/A
30	How do *security holders sell their entitlements in full through a broker?
31	How do *security holders sell part of their entitlements through a broker and accept for the balance?
32	How do "security holders dispose of their entitlements (except by sale through a broker)?
33	+Despatch date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

$\ddot{\phantom{a}}$

					+ See chapter 19 for defined terms.
--	--	--	--	--	-------------------------------------	--

Entities that have ticked box 34(a) $N/A$

Additional securities forming a new class of securities

(If the additional securities do not form a new class, go to 43)

Tick to indicate you are providing the Information or documents

35		The names of the 20 largest holders of the additional *securities, and the number and percentage of additional +securities held by those holders
36		A distribution schedule of the additional "securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ 5,001 - 10,000 10 001 - 100,000 100,001 and over
37		A copy of any trust deed for the additional *securities
	(now go to 43)
		Entities that have ticked box 34(b)

• 38 Number of securities for which +quotation is sought
• 39 Class of *securities for which quotation is sought
• Do the +securities rank equally in all 40 respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank $\bullet$ equally, other than in relation to the next dividend, distribution or interest payment

⁺ See chapter 19 for defined terms.

end of restriction period

41 Reason for request for quotation now Example: In the case of restricted securities,

(if issued upon conversion of another security, clearly identify that other security)

42 Number and ⁺class of all ⁺securities quoted on ASX (including the securities In clause 38)

Number	+Class

(now go to $43$ )

All entities

Fees

43 Payment method (tick one)

Cheque attached
Electronic payment made Note: Payment may be made electronically if Appendix 3B is given to ASX electronically at the same time.
Periodic payment as agreed with the home branch has been arranged

Note: Arrangements can be made for employee incentive schemes that involve frequent issues of securities.

Quotation agreement

• *Quotation of our additional *securities is in ASX's absolute discretion. ASX may $\mathbf{1}$ quote the 'securities on any conditions it decides.
• $\overline{2}$ We warrant to ASX that the issue of the 'securities to be quoted complies with the law and is not for an illegal purpose, and that there is no reason why those *securities should not be granted *quotation. We warrant to ASX that an offer of the 'securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ of the Corporations Law.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

⁺ See chapter 19 for defined terms.

$\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Date: $19.2.23$ Sign here: (Director/Company secretary) .............GREG LEDGER...................................

Print name:

$\begin{tabular}{ll} $\alpha=1$ & $\alpha=1$ & $\alpha=1$ & $\alpha=1$\ \hline \end{tabular}$

⁺ See chapter 19 for defined terms.