LEGEND MINING LIMITED — Capital/Financing Update 2020

Jun 3, 2020

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ASX:LEG

4 June 2020 ASX Announcement

Legend raises $20 million via placement

• Legend raises $20 million at 14 cents per share via placement to existing major shareholders, institutional and sophisticated investors. Euroz Securities Limited acted as Lead Manager.

• Placement cornerstoned by Legend’s two largest shareholders, Creasy Group and IGO Limited.

• Focus of exploration activities will continue to be at the Mawson Prospect

Legend Mining Limited (“Legend”) is pleased to announce that it has obtained binding commitments from existing major shareholders, and a range of institutional and sophisticated investors for a capital raising of $20 million (“Placement”).

Funds raised via the Placement will be applied to progress Legend’s exploration activities at its Rockford Project in the Fraser Range, in particular on the Mawson Prospect and general working capital.

Legend Mining Managing Director, Mark Wilson commented:

“We are delighted with the support we have received for this placement. The recent success we have had at Mawson has resulted in an increased expenditure over and above our current budget. This raising will enable that level of activity to continue at pace.”

Euroz Securities Limited acted as Sole Lead Manager to the Placement with Canaccord Genuity (Australia) Limited as Co-Manager.

Completion of placement

The Placement is being made to investors qualifying under Section 708 of the Corporations Act and Legend will use its existing 15% capacity under ASX Listing Rule 7.1. Legend expects to complete the issue of the 142,857,143 Placement shares at 14 cents per share by 11 June 2020.

Legend will have ~$27M in cash at bank on completion of the Placement.

Authorised by Mark Wilson, Managing Director.

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

For more information:

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

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