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LEGEND MINING LIMITED — Capital/Financing Update 2026
Mar 22, 2026
65223_rns_2026-03-22_9af2921b-b98b-46fb-b388-e41c513eb1ea.pdf
Capital/Financing Update
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ASX Announcement ASX:LEG
23 March 2026
High Ranking Feature Extended at Pinnacle Well
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Infill geophysical surveys have extended chargeable-resistive feature to 600m at the Pyrophyllite Hill prospect
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Feature coincident with a large pyrophyllite alteration zone, a multielement
hydrothermal signature in soil samples and historical geochemistry
- Feature represents compelling drill target for gold mineralisation
Legend Mining Limited (Legend) is pleased to provide results from recently completed low impact geophysical surveying over the Pyrophyllite Hill prospect (Pyrophyllite Hill) within the Pinnacle Well Project (Project), located 25 km NNE of Leonora, Western Australia (see Figure 5).
Following up on encouraging pole-dipole induced polarisation (PDIP) and gradient array induced polarisation (GAIP) results in February 2026, three infill PDIP lines were completed at Pyrophyllite Hill. The surveying was aimed at defining both the lateral and depth extent of a strong coincident chargeable-resistive feature identified previously on line 41000E. Full details are included in the body of this report.
Legend Executive Chair, Mr Mark Wilson said: “We are very pleased with the outcome of the recently completed infill geophysical survey at Pyrophyllite Hill. The chargeable-resistive feature which was identified on one line in the earlier survey has now been extended over approximately 600m from depths of circa 75m below surface down to 400m which is the limit of these surveys. The feature is interpreted to represent disseminated sulphides associated with silica alteration and/or quartz veining at depth. This represents a compelling drill target for gold mineralisation, when considering the alteration, the structural setting and anomalous geochemistry coincident with the feature.
“The next steps are ground truthing at both Pyrophyllite Hill and the Alpha North prospects followed by drillhole design, heritage clearance and drilling.”
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Photo: Pyrophyllite Hill, Pinnacle Well
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TECHNICAL DISCUSSION
The Pyrophyllite Hill prospect is considered prospective for both intrusion-related and structurally controlled gold mineralisation due to extensive pyrophyllite alteration (approximately 1300m x 700m) and proximity to NW-SE trending structures related to the Keith-Kilkenny Fault Zone (see Figure 1). Previously reported Ultra Fine Fraction (UFF) soil sampling reporting anomalous multielement (Ag-Cd-Hg-Sb-As) results supports a hydrothermal origin for the pyrophyllite.
Recently completed PDIP has further enhanced the prospectivity of Pyrophyllite Hill with the identification of a strong ~600m chargeable-resistive feature.
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Figure 1: Pinnacle Well Project – Pyrophyllite Hill prospect location and UFF soil anomalies on aeromagnetic image
Geophysical Surveys
In January 2026 GAIP surveying at Pyrophyllite Hill was conducted to geophysically map the 2D chargeability and resistivity responses with follow up PDIP identifying a strong chargeable feature (red) on line 41000E (see Figures 2 & 3 and ASX announcement 16 February 2026). This chargeable response was modelled at a depth of ~75-300m below surface and interpreted as representing disseminated sulphides as the chargeability response exceeds values typically associated with weathering-type clays. Line 41000E also identified a shallow (0-75m), low chargeability zone (blue) over 1.1km length, which coincides with the mapped pyrophyllite outcrop (see model on Figure 3).
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Three additional infill PDIP lines (40600E, 40800E and 41200E) for 3.4km were recently completed to test the lateral and depth extent of the chargeable feature identified on 41000E (see Figure 2).
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Figure 2: Pyrophyllite Hill PDIP lines with peak chargeability, main pyrophyllite outcrop and Pyr1 UFF soil anomaly on GAIP survey chargeability image
Inversion modelling of the three additional PDIP lines shows that the strong chargeable feature on 41000E is also present on line 40800E (200m to NW) and line 41200E (200m to SE) (see Figures 2 & 3). This PDIP indicates that the feature has a strike length of ~600m with a NW-SE trend. The modelling for 40800E, 41000E and 41200E also shows that the chargeable feature has a strong coincident resistivity response. The modelled depth of the ~600m chargeable-resistive feature increases from 75-250m on 40800E to 175-325m on 41200E suggesting a potential southeasterly plunge (see Figure 3).
Legend believes that the chargeable-resistive feature at Pyrophyllite Hill represents disseminated sulphides (chargeable response) associated with silica alteration and/or quartz veining (resistive response) within an extensive hydrothermal pyrophyllite alteration zone.
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Much of the Pyrophyllite Hill prospect area is obscured by transported alluvial material with sparse subcrop in the vicinity of the peak chargeability-resistivity responses on each of the PDIP lines. Historic rockchip sampling (20 samples) near the projected-to-surface peak chargeability-resistivity response on line 40800E returned anomalous gold results of 0.13g/t Au and 0.09g/t Au, associated with a carbonate altered siderite/ankerite ferruginous gossan (see Figure 4 and Appendix 1). Further reconnaissance mapping and sampling is planned in the coming weeks over the surface projection of the chargeable-resistive trend.
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Figure 3: Pyrophyllite Hill PDIP survey chargeability and resistivity inversion models. Lines 40800E, 41000E and 41200E display strong coincident chargeable and resistive features (red) at depth, along with shallow chargeable lows (blue)
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Ultra Fine Fraction Soil Anomaly Pyr1
Previously reported multivariate geochemical interpretation of UFF soil samples defined the Pyr1 anomaly at Pyrophyllite Hill which has a distinct hydrothermal signature (ASX announcement 1 August 2025). Pyr1 is characterised by a strongly anomalous suite of elements (Ag-Cd-Hg-Sb-As) consistent with an intrusion-related hydrothermal signature and is coincident with an extensive 1,300m x 700m pyrophyllite alteration zone (see Figure 4, Table 1 and Appendices 2 & 3). The Pyr1 anomaly has a central more anomalous “inner” zone, which closely coincides with the ~600m PDIP chargeable-resistivity feature (see Figures 2 & 4).
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Figure 4: Pyrophyllite Hill Summary – PDIP lines with peak chargeability responses, UFF soil anomalies, historic rockchip samples and quartz veining on Google Earth image
UFF base metal anomalies (BM2 and BM3) located immediately north and south of Pyr1 are interpreted as potentially peripheral alteration halos surrounding the pyrophyllite zone (see Figure 2 & 4). The Pyr1, BM2 and BM3 anomalies and pyrophyllite outcrop are situated within the Pig Well Graben corridor and interpreted to be related to major NW-SE bounding regional structures including the Keith-Kilkenny Fault.
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| Table 1: Pyr1 Hydrothermal Alteration and BM2-3 Base Metal UFF Soil Anomalies | Table 1: Pyr1 Hydrothermal Alteration and BM2-3 Base Metal UFF Soil Anomalies | Table 1: Pyr1 Hydrothermal Alteration and BM2-3 Base Metal UFF Soil Anomalies | Table 1: Pyr1 Hydrothermal Alteration and BM2-3 Base Metal UFF Soil Anomalies | Table 1: Pyr1 Hydrothermal Alteration and BM2-3 Base Metal UFF Soil Anomalies |
|---|---|---|---|---|
| Anomaly | Associated Elements |
Highest values above* background** |
Geological Support |
Area km2 |
| Pyr1 | As, Ag, Cd, Cu, Hg, Pb, S, Sb, Zn |
Ag 9x, Cd 8x, Hg 6.5x, Sb 5x, S 3.5x, As 3x, Zn 1.5x: normalised background |
Large hydrothermally altered pyrophyllite outcrop/subcrop |
0.77 |
| BM2 | As, Bi, Mo, Sb, Te, Tl | Mo 6.5x, Sb-Te-Tl 2x, As-Bi 1.5x: normalised background |
North of hydrothermally altered pyrophyllite outcrop, quartz veins, adjacent to isolated syenite intrusive |
1.56 |
| BM3 | As, Bi, Mo, In, Sb | Mo 3x, As-Bi-Sb 1.5x: normalised background |
South of hydrothermally altered pyrophyllite outcrop, quartz veins |
1.13 |
* Elements and elemental loadings identified by principal component analysis and factor analysis are reported with the highest value shown as multiple above normalised background (e.g., 5x means 5 times normalised background). See ASX announcement 1 August 2025.
Summary
Additional PDIP surveying at Pyrophyllite Hill has delineated a NW-SE trending, coincident chargeability-resistivity feature striking ~600m within an extensive pyrophyllite alteration zone. This orientation is consistent with regional NW-SE trending structures considered significant for mineralisation in the northeastern goldfields of Western Australia. The PDIP feature is spatially associated with the Pyr1 soil anomaly and is interpreted to represent disseminated sulphides associated with silica alteration and/or quartz veining at depth.
Legend considers the coincident PDIP feature, alteration, anomalous chemistry and structural setting to be very encouraging for the identification of gold mineralisation. Further ground truthing and sampling over the PDIP chargeable-resistive trend is planned in the coming weeks along with 3D PDIP modelling to assist future drillhole design.
FUTURE PROGRAMMES
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Complete reconnaissance mapping and sampling over the projected-to-surface position of the chargeable-resistive responses on lines 40800E, 41000E and 41200E.
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Complete 3D PDIP modelling at Pyrophyllite Hill.
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Use 3D modelling and geochemistry to assist drillhole design.
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Heritage clearances.
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Drilling.
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PINNACLE WELL PROJECT BACKGROUND
Legend acquired a 100% interest in exploration licences E37/1246 and E37/1548 on 2 July 2025 and tenements E37/1235 and E37/1417 on 5 November 2025. Legend also obtained a “Right of First Refusal” (ROFR) over seven adjacent “Linger and Die Group” tenements (E37/1234, P37/8573, P37/9675, P37/9676, P37/9752, M37/1385, M37/1400). Full transaction details are provided in ASX announcements 2 July 2025 and 5 November 2025.
The Project covers a combined area of 128km[2] and is located approximately 25km NNE of Leonora in the northern goldfields of Western Australia. The Pinnacle Well Project is considered prospective for gold and base metals as the region is host to a number of significant gold deposits including Gwalia and King of the Hills, in addition to base metal deposits at Bentley and Jaguar (see Figure 5).
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Figure 5: Pinnacle Well Project Location with Major Mines/Deposits on Regional Geology (GSWA 1:500K)
Authorised by Mark Wilson, Executive Chair.
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Competent Person Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Derek Waterfield. Mr Waterfield is 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.
The information in this report that relates to Legend’s Exploration Results is a compilation of previously released to ASX by Legend Mining (2 July 2025, 1 August 2025, 5 November 2025, 8 December 2025, 16 February 2026). Mr Waterfield consents to the inclusion of these Results in this report. Mr Waterfield 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. Forward-looking 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 Tony Walsh Executive Chair Director/Company Secretary Ph: +61 8 9212 0600 Ph: +61 8 9212 0600
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Appendix 1
Historic Rockchip Sample Results Near Peak Chargeable Response on PDIP Line 40800E
| Sample | MGA_East | MGA_North | **Auppb ** | **Agppm ** | **Asppm ** | **Cdppm ** | Cuppm | Fe% | **Moppm ** | **Nippm ** | **Pbppm ** | **Sbppm ** | Znppm | WAMEX |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ECH016 | 341130 | 6826928 | 132 | 2.29 | 42 | 3.54 | 117 | 23.5 | 3.31 | 39 | 11 | 1.24 | 641 | - |
| ECH017 | 341149 | 6826957 | -5 | 0.37 | 62 | 0.24 | 63 | 11.35 | 7.04 | 86 | 5 | 1.15 | 115 | - |
| GAV08 | 341231 | 6827065 | -5 | 0.07 | 3 | 0.20 | 4 | 3.4 | 1.00 | 25 | 2 | 0.18 | 47 | - |
| PIW016 | 340953 | 6826882 | -1 | -0.05 | 27 | - | 505 | - | - | - | - | -1 | 13500 | A18154 |
| RAM22 | 341168 | 6827131 | - | 0.09 | 9 | - | 21 | - | - | 39 | - | - | 92 | A85373 |
| RAM23 | 341229 | 6827066 | - | 0.08 | 12 | - | 20 | - | - | 29 | - | - | 57 | A85373 |
| 359551 | 341167 | 6826871 | 13 | - | - | - | 84 | - | - | - | 8 | - | 560 | A39889 |
| 359552 | 341107 | 6826871 | 90 | - | - | - | 46 | - | - | - | 3 | - | 170 | A39889 |
| 359553 | 341207 | 6826927 | -1 | - | - | - | 49 | - | - | - | 3 | - | 84 | A39889 |
| 359554 | 341250 | 6826978 | -1 | - | - | - | 20 | - | - | - | 3 | - | 54 | A39889 |
| 359555 | 341233 | 6827053 | -1 | - | - | - | 31 | - | - | - | 4 | - | 185 | A39889 |
| 359557 | 341017 | 6826950 | 1 | - | - | - | 44 | - | - | - | 15 | - | 70 | A39889 |
| 359558 | 341130 | 6827031 | -1 | - | - | - | 33 | - | - | - | 7 | - | 82 | A39889 |
| 359559 | 341155 | 6827083 | -1 | - | - | - | 58 | - | - | - | 11 | - | 155 | A39889 |
| 359560 | 341190 | 6827108 | -1 | - | - | - | 60 | - | - | - | 5 | - | 215 | A39889 |
| 359561 | 341215 | 6827133 | -1 | - | - | - | 165 | - | - | - | 5 | - | 116 | A39889 |
| 359562 | 341265 | 6827168 | -1 | - | - | - | 180 | - | - | - | 5 | - | 82 | A39889 |
| 359563 | 341107 | 6826978 | -1 | - | - | - | 42 | - | - | - | 2 | - | 62 | A39889 |
| 359564 | 341126 | 6827147 | -1 | - | - | - | 54 | - | - | - | 5 | - | 185 | A39889 |
| 359565 | 341169 | 6827221 | 1 | - | - | - | 30 | - | - | - | 3 | - | 56 | A39889 |
Appendix 2
Pyrophyllite Hill – Rockchip Sample Details
| Sample | MGA20-E | MGA20-N | RL | Description |
|---|---|---|---|---|
| PWR129 | 340782 | 6826192 | 431 | Pyrophyllite, lt.yellow/white, foliated, gritty, greasy, Pinnacle Well excavation sample |
| PWR130 | 341012 | 6826233 | 435 | Pyrophyllite, cream/brown/grey, 5m x 10m outcrop, foliated, fe on fractures, weathered |
| PWR131 | 341178 | 6826416 | 438 | Pyrophyllite, white, large northern outcrop, minor Fe/qt veining, foliated, 3-4m depth |
| PWR132 | 340998 | 6826489 | 435 | Pyrophyllite, cream/grey, foliated, (yellow/brown/black foliated, weathered crust) |
| PWR133 | 341095 | 6826634 | 433 | Pyrophyllite, cream/grey, foliated/shiny/sheeted, , 5m x 5m subcrop in creek bed |
| PWR134 | 340867 | 6826557 | 431 | Pyrophyllite, cream/lt.grey, weathered, foliated, 20m x 20m outcrop |
| PWR135 | 341264 | 6827018 | 435 | Pyrophyllite, grey/brown, weathered, foliated, manganese staining, 10m x 10m outcrop,near volcanic contact |
| PWR136 | 341284 | 6826307 | 437 | Pyrophyllite, cream/lt.grey, foliated, large outcrop/hill, fe cap on top of hill |
| PWR137 | 341409 | 6826194 | 433 | Pyrophyllite, cream/lt.grey, strong foliation, large outcrop/hill |
| PWR138 | 341227 | 6826146 | 436 | Pyrophyllite, cream, foliated, large outcrop/hill, fe cap |
| PWR139 | 341841 | 6825820 | 437 | Pyrophyllite, lt.grey/cream, foliated, large southern outcrop/hill yellow/brown cap |
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Appendix 3
Pyrophyllite Hill – Rockchip Sample XRD Results
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Appendix 4
Legend Mining Ltd – Pinnacle Well Project, Pyrophyllite Hill Prospect JORC Code Edition 2012: Table 1
Section 1: Sampling Techniques and Data
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Sampling techniques | • Nature and quality of sampling (e.g., cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g., ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g., submarine nodules) may warrant disclosure of detailed information. |
Pole-Dipole Induced Polarisation Survey (PDIP) •PDIP surveying was conducted by contractor Moombarriga Geoscience. The survey as completed over the Pyrophyllite Hill prospect on E37/1246 and comprised three lines for a total of 3.4km. •Survey parameters include: Receiver: SMARTem24 Transmitter: Search-Ex WB IP transmitter Number of Lines: 3 Line Spacing: 200m Dipole Spacing: 50m Pole-Dipole Line Lengths: 0.9-1.5km Pole-Dipole Line Direction: NNE-SSW •Geophysical consultants Southern Geoscience completed inversion modelling of the PDIP data using Zonge TS2DIP software. Gradient Array Induced Polarisation Survey (GAIP) •GAIP surveying was conducted by contractor Moombarriga Geoscience. The survey was completed over the Pyrophyllite Hill prospect on E37/1246 covering an area of 1km2. •Survey parameters include: Receiver: SMARTem24 Transmitter: Search-Ex WB IP transmitter Number of Lines: 11 Line Spacing: 100m Station Spacing: 50m Line Direction: NNE-SSW •UFF soil sample results and analysis referred to in this announcement were previously reported by Legend in ASX announcements on 1 August 2025, 5 November 2025 and 8 December 2025. •Previous compilation and reprocessing of available government and company aeromagnetic, radiometric and gravity data was completed by Southern Geoscience Consultants. A range of geophysical images were supplied and used to assist regional interpretation. |
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Rockchip Sampling •Previous company rockchip sampling in the Pyrophyllite Hill prospect area (20 samples) was completed by various explorers (WAMEX No. A18154 – Chevron 1986, A39889 – Geopeko 1993, A85373 – Pacrim Energy 2009, and Pellegrini 2016. •Early rockchip analysis (A18154, A39889, A85373) was for a restricted suite including: Au, Ag, As, Cu, Pb, Zn. •Later analysis by Pellegrini was for an extended suite including: Au, Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr. |
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| Drilling techniques | • Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what _method, etc.). _ |
•Legend has not completed any drilling at the Pinnacle Well Project. |
| Drill sample recovery | • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
•Legend has not completed any drilling at the Pinnacle Well Project. |
| Logging | • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. |
•Legend has not completed any drilling at the Pinnacle Well Project. |
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Sub-sampling techniques and sample preparation |
• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of _the material being sampled. _ |
•Legend has not completed any drilling at the Pinnacle Well Project. |
| Quality of assay data and laboratory tests |
• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e., lack of bias) and precision have been _established. _ |
•Historic rockchip sample assay methods and procedures are considered appropriate. While quality and QCQA details are not fully recorded/known, reputable assay laboratories (Kal Assay-Kalgoorlie, Genalysis-Perth, ALS-Perth) with internal standards and duplicates were used for the analysis. |
| Verification of sampling and assaying |
• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage |
•Legend has not completed any drilling at the Pinnacle Well Project. •No adjustments have been made to historic rockchip assay data. |
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| (physical and electronic) protocols. • Discuss any adjustment to _assay data. _ |
||
| Location of data points | • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. |
•Historic rockchip sample location accuracy is unknown. |
| Data spacing and distribution |
• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing _has been applied. _ |
•Historic rockchip sampling is non- systematic and restricted to areas of outcrop. |
| Orientation of data in relation to geological structure |
• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
•There is no known biasing of the rockchip samples with random chips taken at each site. |
| Sample security | • The measures taken to ensure sample security. |
•Rockchip sample security by previous companies is unknown. |
| Audits or reviews | • The results of any audits or reviews of sampling techniques and data. |
•Internal audits/reviews of all current data are completed prior to entry into Legend’s database. |
Section 2: Reporting of Exploration Results
| **Section2:Reportingof ** | ExplorationResults | |
|---|---|---|
| Criteria | JORC Code Explanation | Commentary |
| Mineral tenement and land tenure status |
• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, |
•The Pinnacle Well Project comprises four granted exploration licences, E37/1235, E37/1246, E37/1417 and E37/1548 covering 128km2. •TheProjectislocated25km NNEof |
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in _the area. _ |
Leonora on Mertondale and Clover Downs Pastoral Stations. •All four tenements are covered 100% by the Darlot Group Native Title Claim. •The tenements are in good standing and there are no known impediments. |
|
| Exploration done by other parties |
• Acknowledgment and appraisal of exploration by other parties. |
•Historical exploration for base metals, gold and molybdenum has been completed over the Pinnacle Well Project tenements (E37/1235, E37/1246, E37/1417 and E37/1548) by a number of companies between 1969 and 2024. Exploration activities include soil and rockchip sampling, geological mapping, ground EM surveys, Rotary Air Blast (RAB), Reverse Circulation (RC) and diamond drilling and have been previously reported in detail by Legend to the ASX in announcements on 1 August, 5 November and 8 December 2025. •Compilation and reprocessing of available government and company aeromagnetic, radiometric and gravity data over all tenements was completed by Southern Geoscience Consultants. |
| Geology | • Deposit type, geological setting and style of mineralisation. |
•The primary target is intrusion-related and structurally-controlled vein hosted gold mineralisation typical of Archaean greenstone belts within the Yilgarn Craton. •A secondary target type is VMS style copper-lead-zinc-silver mineralisation similar to that at the Teutonic Bore/Bentley/ Jaguar deposits. |
| Drill hole Information |
• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. |
•Legend has not completed any drilling at the Pinnacle Well Project. •No drilling has been undertaken on the Project area since 2014. |
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the _case. _ |
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| Data aggregation methods |
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent _values should be clearly stated. _ |
•Legend has not completed any drilling at the Pinnacle Well Project. •No drilling has been undertaken on the Project area since 2014. |
| Relationship between mineralisation widths and intercept lengths |
• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., ‘down hole length, true width _not known’). _ |
•Legend has not completed any drilling at the Pinnacle Well Project. •No drilling has been undertaken on the Project area since 2014. |
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate _sectional views. _ |
•Project location, geology, geophysical surveys and rockchip locations maps have been included in the body of the report. |
| Balanced reporting | • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both _low and high grades and/or _ |
•All relevant exploration results have been summarised in the accompanying announcement, associated appendices and figures, and previously reported in Legend ASX announcements on 1 August,5 |
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ASX Announcement
ASX:LEG
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| widths should be practiced to avoid misleading reporting of _Exploration Results. _ |
November 2025, 8 December 2025 and 16 February 2026. |
|
| Other substantive exploration data |
• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating _substances. _ |
•Descriptions of substantive exploration data are summarised/included in the accompanying announcement and associated appendices and figures and previously reported in Legend ASX announcements on 1 August 2025, 5 November 2025, 8 December 2025 and 16 February 2026. |
| Further work | • The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step- out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
•Complete reconnaissance mapping and sampling over the projected-to-surface position of the chargeable-resistivity responses on lines 40800E, 41000E and 41200E. •Complete 3D PDIP modelling at Pyrophyllite Hill. •Use 3D modelling and geochemistry to assist drillhole design. |
17