LEGEND MINING LIMITED — Interim / Quarterly Report 2007

Apr 18, 2007

MARCH 2007 QUARTERLY REPORT

18 April 2007

LEGEND MINING LIMITED

ASX Symbol: LEG

ABN 22 060 966 145

Level 2, 640 Murray Street West Perth Western Australia 6005

P.O. Box 626 West Perth Western Australia 6872

+61 8 9212 0600 Phone: Facsimile: +61 8 9212 0611

Email: legend@legendmining.com.au

www.legendmining.com.au

CONTACTS

Mr Mark Wilson Managing Director

Mr Bob Perring Technical Director

PROJECTS

Pilbara: nickel-copper & zinccopper

Gidgee: gold, copper-nickel-PGE

Mt. Gibson: zinc-copper-gold

LOCATION OF PROJECTS

HIGHLIGHTS

• Copper-nickel-platinum group element (Cu-Ni-PGE) mineralization discovered in outcropping sulphide gossan at Gum Creek.
• Five Pilbara VTEM-1 anomalies surveyed by ground EM - report awaited.
• Pilbara VTEM-2 scheduled for early May 2007.

OVERVIEW

The March Quarter saw the identification of an exciting new and untested exploration opportunity in the Gum Creek area with the discovery of outcropping sulphide gossan that contains up to 5.7% copper, 1.0% nickel and 0.7g/t platinum group elements. The zone within the vicinity of this gossan represents an immediate drill target and we believe that more mineralization of this type will be discovered once systematic work gets underway following the grant of our exploration licence.

The equipment to be used in the next Pilbara VTEM survey (VTEM-2) arrives in Australia within the next couple of weeks and flying is scheduled to commence in early May 2007. We eagerly await the commencement of this second survey, which we anticipate could identify further robust base metal targets.

$\mathbf{1}$ . Pilbara Project

During the Quarter, GEM Geophysical Surveys completed ground-based Moving-Loop Time-Domain Electromagnetic (MLTEM) surveys over five of the six Versatile Time-Domain Electromagnetic (VTEM) anomalies (Figure 1) delineated in November 2006. The Roundstone VTEM anomaly could not be accessed due to the prevailing wet monsoonal conditions and this survey has been rescheduled.

Geological mapping within the vicinity of each of these VTEM-1 anomalies did not identify any surface features (gossans, etc) which would either explain or downgrade the prospectivity of the anomalies.

Geotech Airborne Pty Ltd has advised Legend that the VTEM equipment for the second Pilbara VTEM survey (VTEM-2) will arrive in Australia towards the end of April 2007. Flying is scheduled to commence in early May 2007. The VTEM-2 survey has been fully flight planned and we eagerly await the commencement of this second survey.

Grant of exploration tenements has been delayed and grant of the first new tenements is possible by late-July 2007, although Department of Industry and Resources (DoIR) confirmation is currently being sought.

$2.$ Gidgee Project

In the 2006 Annual Report, Legend announced it had commenced work on unlocking value from the nickel potential of the Gum Creek Greenstone Belt (Gum Creek). The Gum Creek area has been tightly held by gold explorers for over 30 years and very little nickel exploration has ever been conducted.

On the 10 April 2007, Legend announced early encouragement from this program with the discovery of outcropping copper-nickel-platinum group element (Cu-Ni-PGE) mineralization in gossanous ironstone within its Bungarra Target Area (Figure 2). Samples of the gossan assaved up to 5.7% copper (Cu), 1.0% nickel (Ni) and 0.7q/t platinum group elements (PGE) (Figure 3). The zone within the vicinity of this gossan represents an immediate drill target.

Gidgee Project continued.

Bungarra assay results are tabulated below:-

6980350N 750030E (GDA-94 Zone-50) Coordinates for All Samples:
Description	Cu%	Ni%	Pt ppb	Pd ppb	Rh ppb	Ru ppb	$Os$ ppb	ir ppb
Grab Sample	5.7	1.0	146	500	43	2	3	2
Grab Sample	2.1	0.51	91	404	65		з	6
Grab Sample	0.15	0.55	108	41	316	34		26
3m Channel Sample	0.33	0.22	113	415	85	10	2	6
Copper (Cu) and Nickel (Ni) assayed by XRF. Platinum Group Elements (PGE) comprise Platinum (Pt), Palladium (Pd), Rhodium (Rh), Ruthenium (Rh), Osmium (Os) and fridium (Ir). These elements have been assayed by 25q fire assay (nickel sulphide collection) ICP-MS at Ultra Trace Ptv Ltd. Perth. Rhodium has been checked by 25q fire assay (palladium collection) ICP-MS. 1000 parts per billion (ppb) = 1 part per million (ppm) = 1 gram per tonne (g/t)

Table 1: Surface Rock Assay Results

District-scale mapping is continuing at Gum Creek. The Bungarra Target Area falls within a tenement that is under application and no drilling can be conducted until after the grant of the exploration licence, which may take up to 4 months.

$3.$ Mt Gibson Project

Geological assessment of the drill core continued with the aim of further developing the geological model and refining drill targets. Studies on the core have shown that the barren disseminated sulphide halo (pyrite and pyrrhotite) that lies around the better mineralized zinc intervals (4m at 13.4% zinc) is potentially detectable by down-hole geophysical techniques such as electromagnetics and magnetometric resistivity. These techniques provide an indirect way of detecting mineralization that lies within a radius of about 70m from drill holes. Both techniques will be trialled in the next round of target-specific drilling.

Drill targets have been identified and options to unlock maximum value for Legend shareholders are being investigated.

$\overline{4}$ . Operations

Both the mining and processing operations at the Mt Gibson and Gidgee Projects remain on care and maintenance.

$M.\omega$ of

Mark Wilson Managing Director 18 April 2007

Visit www.legendmining.com.au to download a colour version of the attachments.

The information in this announcement that relates to Exploration Results has been reviewed by Mr Robert Perring, a Member of the Australian Institute of Geoscientists, whose services are provided by Quadramin. Mr Perring has sufficient relevant experience in the styles of mineralisation and types of deposits under consideration, and in the activity he is undertaking, to qualify as a Competent Ferson as defined in the 2004 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves" (the JORC Code), and consents to the inclusion of the information in the form and cont

Figure 1 Pilbara Project Area showing Location of VTEM-1 Anomalies

Figure 2: Gidgee Project Showing Location of the Bungarra Target Area

Figure 3: Location of Outcropping Bungarra Sulphide Gossan