LEGEND MINING LIMITED — Capital/Financing Update 2024

Jul 1, 2024

ASX:LEG

ASX Announcement

2 July 2024

Rockford Project Update

HIGHLIGHTS

• Significant weather events continue to delay field activities

• Rockford Project tenement rationalisation underway

Legend Mining Limited (Legend) advises that a significant rain event across the Rockford Project, Fraser Range, Western Australia (see Figure 1) has caused delays in field activities and further tenement rationalisation has been undertaken.

Legend Executive Chair, Mr Mark Wilson said: “This latest in a series of unseasonal downpours is incredibly frustrating for all of us at Legend, as it has put on hold any field programmes for an indefinite period.

“The area has not dried out from the March deluge and the Trans Australia Railway access road remains closed, restricting site access.

“We will keep the market informed as further information comes to hand.”

SIGNIFICANT RAIN ACROSS THE ROCKFORD PROJECT AREA

Following on from the unprecedented rainfall across the Rockford Project in March this year ( See March 2024 Quarterly Report 11 April 2024 ), there was another significant rain event at the project late last week, with 54mm recorded in the rain gauge at the Mawson camp on Friday morning 28 June 2024.

The rain band stretched approximately 100km east from Zanthus with recordings of 47mm at Kanandah Station homestead and 40mm at Zanthus.

The Trans Australian Railway access road was already closed to all traffic at the time, having been closed by the Shire of Kalgoorlie Boulder since 9 June 2024. Prior to this date, access has been for 4WD vehicles only. This rain late last week is expected to extend that closure.

Contractor High Power EM were ready to mobilise to site, however it may be several weeks before they can access the project area for the planned High Power Fixed Loop Electromagnetic extension survey at the Octagonal prospect ( See March 2024 Quarterly Report 11 April 2024 ).

1

ASX Announcement

ASX:LEG

TENEMENT RATIONALISATION

Considering the prevailing negative sentiment in the nickel market, our discipline to capital conservation, and sterilisation of exploration tenure, Legend has taken steps to rationalise its tenure across the Rockford Project (see Figure 1). This rationalisation has resulted from a comprehensive assessment of prospectivity following a review of all available datasets. The resultant rationalisation now sees the Rockford Project under Legend management reduced from 1,597km[2] to 1,087km[2] and a significant reduction in project minimum commitment.

FUTURE ROCKFORD PROGRAMMES

• HPFLTEM extension survey at Octagonal

• Seismic reprocessing results from Octagonal

• Diamond drillhole target generation at Octagonal

• Heritage clearance for diamond drilling at Octagonal

• Heritage clearance for diamond drilling at Mawson

==> picture [468 x 408] intentionally omitted <==

Figure 1: Current Rockford Project Tenements and Prospect Locations on Gravity.

Authorised by Oliver Kiddie, Managing Director.

2

ASX Announcement

ASX:LEG

Competent Person Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Oliver Kiddie. Mr Kiddie is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Legend Mining Limited. Mr Kiddie 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 Kiddie consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Legend’s Exploration Results is a compilation of previously released to ASX by Legend Mining (28 March 2023, 20 April 2023, 17 May 2023, 5 June 2023, 27 June 2023, 31 July 2023, 31 August 2023, 3 October 2023, and 7 December 2023). Mr Oliver Kiddie consents to the inclusion of these Results in this report. Mr Kiddie has advised that this consent remains in place for subsequent releases by Legend of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. Legend confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters in the market announcements continue to apply and have not materially changed. Legend confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Forward Looking Statements

This announcement contains “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. Forwardlooking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. These forward-looking statements are based upon a number of estimates, assumptions and expectations that, while considered to be reasonable by Legend Mining Limited, are inherently subject to significant uncertainties and contingencies, involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Legend Mining Limited and any of its officers, employees, agents or associates.

Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Exploration potential is conceptual in nature, to date there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forward-looking statements and Legend Mining Limited assumes no obligation to update such information made in this announcement, to reflect the circumstances or events after the date of this announcement.

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

For more information contact: Mr Mark Wilson Mr Oliver Kiddie Executive Chair Managing Director Ph: +61 8 9212 0600 Ph: +61 8 9212 0600

Ph: +61 8 9212 0600

3