LEGEND MINING LIMITED — Capital/Financing Update 2016

Aug 14, 2016

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ASX:LEG

15 August 2016

ASX Announcement

Extensive EM Survey Commences at Rockford Project

Legend Mining Limited (“Legend”) is pleased to announce the commencement of an extensive moving loop electromagnetic (“MLTEM”) programme at its Rockford Project in the Fraser Range district of Western Australia, see Figure 1. The programme is aimed at testing newly defined targets for bedrock conductors, which may represent massive nickelcopper mineralisation associated with mafic/ultramafic intrusives similar to the NovaBollinger deposit.

Eight areas (Areas G to N) have been selected for MLTEM surveying (see Figure 1), based on detailed aeromagnetic/gravity data and from recently gained knowledge from diamond drilling at Area D. The encouraging results from Area D including; sulphides in cumulate gabbro and sulphide bearing country rocks, validate the process of target selection. Legend has also recently completed a 2,423 station infill gravity survey over the eastern portion of Rockford, which has greatly assisted target selection and prioritisation.

Legend Managing Director Mark Wilson said, “The visual assessment and Niton XRF analysis of the first two diamond holes at the Rockford Project has greatly enhanced the prospectivity of the entire Project area. As a result we have commissioned the next phase of MLTEM surveying to commence immediately. We will consider further drilling at Area D once a comprehensive review of all datasets is completed in the coming weeks."

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Figure 1: Rockford Project Target Areas on Regional Gravity

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The MLTEM will use the same high power EM system as previous Legend surveys, which is proving to be an effective tool in “seeing” through the conductive cover sequence. The survey involves 500m spaced lines with 100m stations and 300m x 300m loops. The combination of high power (~200 amp) and slingram (out loop) reading configuration allows for relatively broad spaced surveying, enabling greater area coverage of targets without compromising the quality of the survey and the ability to detect bedrock conductors.

Any significant bedrock conductors identified by the MLTEM survey will be followed up with a combination of fixed loop electromagnetics (“FLTEM”) and aircore drilling, prior to RC and diamond drill testing where warranted.

Competent Person Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Derek Waterfield, a Member of the Australian Institute of Geoscientists and a full time employee of Legend Mining Limited. Mr Waterfield has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Waterfield consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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

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