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LEGEND MINING LIMITED Capital/Financing Update 2011

Aug 29, 2011

65223_rns_2011-08-29_6290ac25-bfd0-45dd-858c-9b49a5674b81.pdf

Capital/Financing Update

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----- Start of picture text ----- ASX Announcement----- End of picture text -----

ASX:LEG

30 August 2011 ASX Announcement

SALE OF PILBARA PROJECT

Legend Mining Limited (“Legend”) is pleased to announce a Sale Agreement over its Pilbara Project tenements, including the sale of its wholly owned subsidiary Armada Mining Limited, with a wholly owned subsidiary of Karratha Metals Limited (“KML”). The sale is conditional upon KML successfully completing a capital raising and obtaining approval to list on the Australian Securities Exchange and the consideration is 10,000,000 fully paid shares in KML. The settlement date is scheduled on or before 15 December 2011 and may be extended for a further six months by the purchaser.

Legend Managing Director Mr Mark Wilson said: “The proposed capital structure for KML will result in Legend holding approximately 20% of the fully paid shares in KML off the back of a $4 million raising. This transaction will finalise our direct involvement with the Pilbara Project.”

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