LEGEND MINING LIMITED — Capital/Financing Update 2012

May 31, 2012

ASX Announcement

1 June 2012

ASX:LEG

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$750,000 cash paid to Legend in lieu of contingent payment

On 3 May 2007 Legend Mining Limited (Legend) announced the sale of the Gidgee Gold Project which included contingent consideration of $5,000,000 payable by Apex Gold Pty Ltd to Legend once a production milestone of 250,000oz of gold production from the Gidgee Gold Project tenements was reached. The contingency was never satisfied.

As part of the sale of the Gidgee Gold Project by Apex to Panoramic Gold Pty Ltd which completed today, Legend has received $750,000 cash in lieu of the contingent consideration payment.

Legend is pleased to have crystalised a future uncertainty into an immediate cash injection of $750,000.

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

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