LEGEND MINING LIMITED — Capital/Financing Update 2009

Dec 28, 2009

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29 December 2009

ASX Announcement

Legend Raises $3.42M through Share Placement

• Funds principally applied to fast track exploration activity on Cameroon Project

Legend is pleased to announce a placement of 120 million new shares at $0.03 per share largely to institutional clients of CPS Securities, to raise $3.42 million.

Legend has recruited an experienced exploration geologist with considerable African experience, Mr John Stockley, to the position of Cameroon Exploration Manager. Mr Stockley will reside in Yaoundé, the capital of Cameroon from February 2010.

Legend Managing Director Mr Mark Wilson said, “This money coupled with the full time presence of the Exploration Manager enables us to fast track the project whilst protecting the existing treasury position”.

The planned exploration programme in Cameroon remains on track with the helicopter borne magnetic survey expected to start in early January 2010. Priority target areas identified by the survey will be followed up with geological mapping, geochemical sampling and trenching. Drilling of these priority areas is envisaged for May-June 2010.

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

For more information: Mr Mark Wilson Managing Director Legend Mining Limited Ph: (08) 9212 0600

Mr Derek Waterfield Exploration Manager Legend Mining Limited Ph: (08) 9212 0600

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Legend Mining Limited ABN 22 060 966 145 Level 2, 640 Murray Street West Perth Western Australia 6005 P.O. Box 626 West Perth Western Australia 6872

Telephone: +61 8 9212 0600 Facsimile: +61 8 9212 0611 Email: legend@legendmining.com.au Website: www.legendmining.com.au