LEGEND MINING LIMITED — Capital/Financing Update 2016

Oct 23, 2016

24 October 2016

==> picture [488 x 55] intentionally omitted <==

ASX:LEG

ASX Announcement

Aircore Drilling Commences at Rockford Project

Legend Mining Limited (“Legend”) is pleased to announce that aircore drilling commenced over the weekend at its Rockford Project in the Fraser Range of Western Australia.

The regional drill programme will comprise 80 holes for ~5,000m and focus on eight features selected from detailed aeromagnetic/gravity datasets and EM surveys. The aim of the drilling is to provide information on the regolith profile, basement lithologies and the lithogeochemical signature of the basement rocks. The programme is estimated to take 3-4 weeks to complete with assay results expected 3-4 weeks later.

The geological and assay results from the aircore drilling, in conjunction with the current moving loop electromagnetic surveys (see ASX announcement 15 August 2016) are expected to generate the next iteration of RC/diamond drill targets.

==> picture [440 x 265] intentionally omitted <==

Aircore Drill Rig at Rockford Project, Fraser Range

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

For more information:

Mr Mark Wilson Managing Director Ph: (08) 9212 0600

Mr Derek Waterfield Executive Director - Technical Ph: (08) 9212 0600

P a g e 1 | 1