LEGEND MINING LIMITED — Capital/Financing Update 2007

Oct 25, 2007

ASX PERTH

NO.545

ASX Circular

Date: 26 October, 2007

• Key topics
• 1. Legend Mining Limited
• 1. Reorganisation
• 1. In Specie distribution
• 1. ASX Code: LEG

Reading List

Client Advisers Complience Managers Corporate Advisory DTR Operators Issuers Institutions ASTC Participants Operations Managers (back office) Research Analysts Share Registries ACH Perticipants Authorised by

Jill Hewitt

Contact

Jill Hewitt

Telephone

(08) 9224 0000

ASX Limited ABN 98 008 624 691 Exchange Contre 20 Sridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215

Internet: http://www.esx.com.au

No responsibility is accepted for any inaccuracies contained in the matter published.

LEGEND MINING LIMITED - REORGANISATION OF CAPITAL

Participating Organisations are advised that the return of capital in Legend Mining Limited (the "Company") will become effective on, Monday 29 October 2007.

The return of capital is by way of an in specie distribution of shares in Apex Minerals NL ("Apex").

Shareholders will receive approximately 1 Apex fully paid ordinary share for every 32.82 ordinary fully paid shares held in the Company if no more options are exercised.

If all outstanding options are exercised the ratio will be one Apex share for every 35.68 shares in the Company.

Fractions will be rounded down to the nearest number.

The following timetable will apply.

25 October 2007	Shareholder approval.
29 October 2007	Trading in securities commences on an "ex- return of capital" basis. ASX Code :LEG
2 November 2007	Record date for identifying shareholders entitled to participate in the return of capital.
12 November 2007	Despatch date