LEGEND MINING LIMITED

JUNE 2018 QUARTERLY REPORT

11 July 2018

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ASX Symbol: LEG ABN 22 060 966 145

Level 1, 8 Kings Park Road West Perth Western Australia 6005

HIGHLIGHTS

June 2018 Quarter results significantly increase prospectivity of Area D and whole of Rockford Project

Multiple mineralised intrusive bodies identified at Area D.

PO Box 626

West Perth Western Australia 6872

Petrology results confirm mineralisation in favourable olivine gabbronorite cumulate host rocks, i.e. Nova host rock.

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

[email protected]

Four separate zones with coherent anomalous Nickel Copper assays.
Sulphides present in >100m section around RKAC183

Website:

www.legendmining.com.au

OVERVIEW

CONTACT

Mr Mark Wilson Managing Director

Mr Derek Waterfield Executive Director Technical

The June 2018 Quarter has seen Legend’s share price appreciate by more than 160% up to 6.1cps on June 29[th] before settling to its current price of circa 5cps.

Legend Managing Director Mark Wilson said “It is particularly pleasing that this price improvement is off the back of solid exploration news flow coupled with market interest in entities working in the Fraser Range. Our entire exploration team including consultants and contractors, can be justly proud of these results”.

PROJECTS

Rockford - Fraser Range: Nickel-Copper Gold

The September 2018 Quarter of fieldwork is expected to feature new innovative EM surveys which will be determined once the current geophysical and geological reviews are complete. These surveys will be designed to generate the next iteration of targets for the deeper RC and diamond drilling which is expected in the December 2018 Quarter.

The body of this report covers the work completed in the June 2018 Quarter in more detail.

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1. ROCKFORD PROJECT – (Fraser Range District) Nickel-Copper, Gold

Legend’s Rockford Project is located in the highly prospective Fraser Range district of Western Australia and covers a total area of 2,792.5km[2] (see Figure 1). The majority of the project (2,530km[2] ), comprising seven contiguous granted exploration licences is the subject of a joint venture between Legend (70%) and Creasy Group (30%), with Legend operator and manager of the joint venture. The remaining 262.5km[2] is 100% owned by Legend and includes five granted exploration licences.

Exploration activities during the June 2018 Quarter focussed on Area D and included; 95 aircore drillholes, geochemical sampling, petrographic examination of bottom of hole samples and the undertaking of a comprehensive geophysical and geological review of all exploration data over Area D (see Figures 1 & 2). A detailed discussion of these results is provided in the body of this report.

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Figure 1: Rockford Project Location

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Area D

Exploration activities completed during the June 2018 Quarter at Area D included:

Aircore drilling of 95 holes (RKAC199-293) for 8,495m
Geochemical results for 542 samples from aircore drillholes RKAC184-275
90 samples from aircore drillholes RKAC276-293 pending
Petrographic examination of seven aircore bottom of hole samples
Full geophysical and geological review of Area D underway.

Aircore drilling continued at Area D during the June 2018 Quarter with the completion of a further 95 holes (RKAC199-293) for 8,495m. The programme comprised eight broad spaced 800m x 400m traverses along with infill drilling (50-200m spacing) following up all drillholes with anomalous nickelcopper results.

The drilling returned coherent anomalous Ni-Cu-Co geochemistry from four zones centred around drillholes; RKAC151 and 183, RKAC167, RKAC249 and RKAC255, as shown on Figure 2 and summarised in Table 1. Two of these zones (RKAC167 and RKAC 249) are interpreted as within the same intrusive body.

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Figure 2: Area D Aircore Drillholes on Aeromagnetics

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Table 1: Area D- Aircore Drillhole Results (4m Composites)	Table 1: Area D- Aircore Drillhole Results (4m Composites)	Table 1: Area D- Aircore Drillhole Results (4m Composites)	Table 1: Area D- Aircore Drillhole Results (4m Composites)	Table 1: Area D- Aircore Drillhole Results (4m Composites)	Table 1: Area D- Aircore Drillhole Results (4m Composites)	Table 1: Area D- Aircore Drillhole Results (4m Composites)
Drillhole	From	To	Int.	Ni %	Cu %	Co %	Ag g/t
RKAC205	68	109 EOH	41	0.17	0.10	0.03	0.80
RKAC206	56	93 EOH	37	0.34	0.22	0.03	0.40
RKAC207	56	89 EOH	33	0.21	0.10	0.02	0.25
RKAC208	76	83 EOH	7	0.05	0.02	0.01	0.09
RKAC209	56	82 EOH	26	0.28	0.31	0.03	0.86
RKAC224	52	78 EOH	26	0.14	0.11	0.03	0.81
RKAC225	52	71 EOH	19	0.23	0.33	0.02	3.16
Incl.	70	71 EOH	1	0.31	0.68	0.02	3.24
RKAC226	66	102	36	0.39	0.23	0.04	0.40
RKAC227	74	86 EOH	12	0.13	0.27	0.04	2.54
RKAC230	60	68	8	0.15	0.14	0.01	0.32
RKAC249	64	82 EOH	18	0.22	0.03	0.03	0.19
RKAC252	64	76	12	0.08	0.03	0.01	0.11
RKAC253	64	85 EOH	21	0.34	0.05	0.04	0.52
Incl.	72	76	4	0.64	0.07	0.06	0.31
RKAC255	78	115 EOH	37	0.25	0.03	0.04	0.10
RKAC265	78	108 EOH	30	0.31	0.03	0.04	0.20
RKAC266	92	108 EOH	16	0.22	0.02	0.02	0.15
RKAC268	60	68	8	0.05	0.02	0.01	0.10
RKAC269	64	81 EOH	17	0.09	0.01	0.02	0.13
RKAC274	56	96 EOH	40	0.20	0.04	0.02	0.66
RKAC275	56	72	16	0.05	0.05	0.01	0.51
*RKAC151	64	111 EOH	47	0.30	0.11	0.03	0.19
Incl.	64	74	10	0.23	0.25	0.03	0.39
Incl.	96	102	6	0.38	0.15	0.03	0.06
Incl.	106	111 EOH	5	0.43	0.06	0.02	0.44
*RKAC167	56	66 EOH	10	0.09	0.09	0.01	<0.05
Incl.	59	63	4	0.14	0.16	0.02	<0.05
*RKAC183	72	86	14	0.37	0.43	0.03	1.36
Incl.	77	79	2	0.46	1.44	0.04	5.12

RKAC151, 167, 183 results based on 1m sampling, reported in March Quarterly (12/04/2018)

Petrographic examination of bottom of hole aircore samples from these anomalous Ni-Cu-Co zones identified a similar olivine gabbronorite cumulate as the host lithology. Legend interprets these results as representing three spatially separate mineralised gabbronorite intrusive bodies and believes there are numerous other similar intrusive bodies in the wider Area D region based on the aeromagnetic and gravity datasets.

A detailed description of the results from the three intrusive bodies (Central, Southern and Northeast) is given below.

Central - (RKAC151, 183 and Infill holes)

Drillhole RKAC151 (November 2017) intersected 47m @ 0.30% Ni, 0.11% Cu and 0.03% Co from 64m to EOH associated with goethitic/Fe-clay weathering over an olivine gabbronorite cumulate (see Figure 2). Follow up hole RKAC183 (200m north of RKAC151) then intersected disseminated sulphides (March 2018) comprising pyrrhotite-chalcopyrite-pentlandite associated with the same olivine gabbronorite host rock. Follow up infill drilling around these holes was completed during the June quarter.

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Five 50m spaced infill drillholes (RKAC205-209) were completed on Section 638600E (see Figures 2 & 3). The five infill holes intersected gabbronorite bedrock similar to RKAC183, with <1% sulphides logged in all holes. Four of the five holes returned broad intersections of 26m to 41m with nickel values ranging between 0.17-0.34% Ni and associated copper between 0.10-0.31% Cu, (see Figure 3 and Table 1 for details).

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Figure 3: Area D Aircore Drill Section 638,600E

Drillholes RKAC224-225 were drilled 50m east and west respectively of RKAC183, with both holes intersecting disseminated magmatic sulphide associated with gabbronorite bedrock similar to RKAC183 (see Figure 2). RKAC225 returned the highly anomalous bottom of hole result of 1m @ 0.31% Ni, 0.68% Cu, 0.02% Co, 3.24g/t Ag from 70m.

Drillholes RKAC273-274 were drilled 50m north and south respectively of RKAC225, with RKAC274 intersecting a broad interval with anomalous Ni-Cu in a similar gabbronorite host as RKAC225, although no sulphides were observed. RKAC273 intersected a felsic unit and appears to mark the northern boundary of the gabbronorite intrusion.

Drillholes RKAC226 and RKAC275 were drilled 50m and 100m west respectively of RKAC151 (see Figure 2). RKAC226 intersected a similar profile to RKAC151, with 27m of goethite and Fe-rich clays in an interval of 36m @ 0.39% Ni, 0.23% Cu, 0.04% Co from 62m. RKAC275 intersected a pyroxene gabbronorite, however the goethitic/Fe clay interval was not present and the nickel-copper values were lower.

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The results from this infill drilling around drillholes RKAC151 and RKAC183 highlight the following:

Highly anomalous Ni-Cu-Co results associated with favourable olivine gabbronorite cumulate host rock – i.e. Nova deposit host rock.
Pyrrhotite-chalcopyrite-pentlandite has been identified in a bottom of hole petrology sample from RKAC183.
Drillholes RKAC224-225 both intersected disseminated magmatic sulphides.
Minor sulphides logged in five of six other holes on Section 638600E, with strong evidence for weathered sulphides in sixth hole (RKAC151).
Good continuity of Ni-Cu-Co values and intersection thickness along Section 638600E.
Drilling has defined an anomalous (>0.2% Ni and >0.1% Cu) Ni-Cu footprint over a ~300m x ~100m area. Significantly, this drilling has also defined a 100 metre wide zone (RKAC183, 224225) of disseminated magmatic sulphides.
Drilling indicates that a significant gabbronorite intrusive exists around these drillholes, with sulphides and anomalous Ni-Cu-Co geochemistry present in a north-south direction along Section 638600E.

Further details on the Central intrusive are provided in previous Legend announcements released to the ASX on; 11/12/2017, 18/12/2017, 22/01/2018, 9/4/2018, 3/5/2018, 12/6/2018 and 2/7/2018.

Southern - (RKAC167, 249 and Infill holes)

Drillhole RKAC167 (November 2017) intersected 10m @ 0.09% Ni, 0.09% Cu and 0.01% Co from 56m to EOH associated with a bedrock host of pyroxene gabbronorite cumulate with minor oxidised sulphide (see Figure 2). Follow up hole RKAC230 (50m west of RKAC167) returned higher tenor nickel and copper than RKAC167, again associated with a gabbronorite containing goethitic remnants of magmatic sulphide.

Drillholes RKAC188, 189, 191 and 192, drilled 200m north, south, west and east respectively of RKAC167, did not return anomalous nickel-copper results, however all intersected the same gabbronorite host.

Drillhole RKAC249 and 50m infill holes RKAC252-253 were drilled 800m east of RKAC167, returning anomalous Ni-Cu values associated with a medium grained olivine gabbronorite cumulate (see Figure 2 & Table 1). Whilst no sulphides were observed in drill chips, the peak nickel value of 0.64% Ni in RKAC253 cannot be fully explained by nickel-in-olivine, suggesting a sulphide source for the nickel.

These three holes lie on the eastern margin of a 1.5km circular magnetic low, with holes RKAC167 and 230 associated with a central magnetic high (see Figure 2). The olivine gabbronorite in RKAC249/252/253 and the pyroxene gabbronorite cumulate in holes RKAC167/230 are interpreted to be part of the same intrusive body and have greatly increased the size of the intrusion.

Further details on the Southern intrusive are provided in previous Legend announcements released to the ASX on; 11/12/2017, 18/12/2017, 22/01/2018, 9/4/2018, 12/6/2018, 20/6/2018 and 2/7/2018.

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Northeast - (RKAC255 and Infill holes)

Drillhole RKAC255 returned a broad 37m interval with anomalous Ni-Cu values and is located 2.4km north of RKAC249 and some 1.3km northeast of the sulphide bearing gabbronorite intrusive in RKAC183 (see Figure 2 & Table 1). Petrology indicates a host lithology of olivine-rich (60%) gabbronorite cumulate with partially oxidised sulphide masses of pyrrhotite and pentlandite, (see Photos 1-2).

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Photo 1: Olivine-rich gabbronorite cumulate BOH petrology sample from RKAC255, 5cm width. (Photo taken prior to final thin section preparation).

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----- Start of picture text -----

Po
Pent
----- End of picture text -----

Photo 2: Photomicrograph of sulphide mass (oxidised pyrrhotite-Po and pentlandite-Pent) in RKAC255 BOH sample. (Field of view 1mm).

Drillholes RKAC265-266 were drilled 50m north and south respectively of RKAC255, intersecting a similar olivine gabbronorite cumulate, with similar tenor Ni-Cu-Co values and interval thicknesses (see Table 1). These results have confirmed the Ni-Cu-Co anomalism at this third mineralised intrusive body and extended the strike of the anomalous mineralised footprint to >100m.

Further details on the Northeast intrusive are provided in previous Legend announcements released to the ASX on; 20/6/2018 and 26/6/2018.

Future Programmes for September 2018 Quarter

Commence regional aircore programme over selected targets in southern Rockford Project.
Integrate results of Area D geophysical review with geological/geochemical dataset to assist in the planning of future activities.
Innovative moving loop electromagnetic surveys over the anomalous Ni-Cu geochemical zones and other interpreted intrusive features at Area D.

2. CORPORATE

Jindal $3M Receivable

Legend received the June 2018 quarterly interest payment of $30,000 from Jindal Steel and Power on 19 June 2018, as per the rescheduled debt agreement announced to the ASX on 28 July 2015.

Legend Annual General Meeting

The Annual General Meeting was held on 16 May 2018 with all resolutions passed unanimously on a show of hands. The results of the meeting were released to the ASX on the same day.

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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, 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 (9 & 12 April 2018, 3 May 2018, 12, 20 & 26 June 2018, 2 July 2018) and Mr Derek 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.

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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Appendix 1: Aircore Drillhole Details

Drillhole	Easting	Northing	RL (m)	Dip	Depth (m)
RKAC183	638602	6598600	202	-90	86
RKAC184	638600	6598795	202	-90	78
RKAC185	638603	6599199	202	-90	73
RKAC186	638584	6598200	203	-90	88
RKAC187	638583	6597999	203	-90	90
RKAC188	638992	6596995	206	-90	73
RKAC189	639007	6596597	206	-90	60
RKAC190	638800	6596795	206	-90	60
RKAC191	638848	6596798	206	-90	85
RKAC192	639200	6596799	206	-90	75
RKAC193	638399	6598599	203	-90	88
RKAC194	638398	6598796	202	-90	99
RKAC195	638795	6598594	202	-90	41
RKAC196	638795	6598810	204	-90	41
RKAC197	638797	6598203	204	-90	48
RKAC198	638402	6598200	202	-90	87
RKAC199	637401	6596799	205	-90	97
RKAC200	637403	6596392	205	-90	81
RKAC201	637402	6595997	204	-90	59
RKAC202	637405	6595597	204	-90	94
RKAC203	637402	6595199	204	-90	97
RKAC204	637402	6595804	204	-90	83
RKAC205	638587	6598350	204	-90	109
RKAC206	638612	6598452	203	-90	93
RKAC207	638604	6598498	202	-90	89
RKAC208	638603	6598555	202	-90	83
RKAC209	638604	6598656	202	-90	82
RKAC210	633803	6600798	202	-90	77
RKAC211	633399	6600796	202	-90	107
RKAC212	632994	6600795	203	-90	81
RKAC213	632602	6600799	204	-90	55
RKAC214	632204	6600800	205	-90	69
RKAC215	631799	6600798	204	-90	78
RKAC216	636602	6599202	204	-90	129
RKAC217	636598	6598798	203	-90	102
RKAC218	636601	6597998	202	-90	116
RKAC219	636599	6597594	202	-90	103
RKAC220	636601	6597194	201	-90	95
RKAC221	637400	6600803	203	-90	142
RKAC222	637396	6600395	203	-90	138
RKAC223	637404	6599991	203	-90	107
RKAC224	638657	6598602	202	-90	78
RKAC225	638543	6598601	202	-90	71
RKAC226	638550	6598400	202	-90	105
RKAC227	638651	6598389	203	-90	86
RKAC228	638503	6598605	203	-90	69
RKAC229	639051	6596801	206	-90	65
RKAC230	638949	6596796	206	-90	68

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Drillhole	Easting	Northing	RL (m)	Dip	Depth (m)
RKAC231	640597	6598796	204	-90	130
RKAC232	640594	6599201	204	-90	121
RKAC233	640593	6599602	205	-90	80
RKAC234	640597	6600001	203	-90	73
RKAC235	640598	6600402	203	-90	67
RKAC236	640609	6597993	203	-90	83
RKAC237	640605	6600799	203	-90	69
RKAC238	640606	6597603	204	-90	98
RKAC239	640598	6597204	203	-90	83
RKAC240	640601	6596803	203	-90	71
RKAC241	640592	6596397	202	-90	87
RKAC242	640602	6595994	201	-90	89
RKAC243	638998	6599990	202	-90	57
RKAC244	639006	6600401	203	-90	69
RKAC245	639000	6600801	202	-90	132
RKAC246	639797	6598004	205	-90	87
RKAC247	639791	6597601	206	-90	87
RKAC248	639795	6597204	206	-90	78
RKAC249	639797	6596800	205	-90	82
RKAC250	639803	6596407	205	-90	89
RKAC251	639801	6596001	205	-90	76
RKAC252	639803	6596752	205	-90	82
RKAC253	639803	6596849	205	-90	85
RKAC254	639777	6598799	206	-90	77
RKAC255	639780	6599200	207	-90	115
RKAC256	639793	6599600	205	-90	64
RKAC257	639800	6600009	204	-90	50
RKAC258	639805	6600070	203	-90	53
RKAC259	639807	6600402	202	-90	70
RKAC260	639804	6600803	203	-90	81
RKAC261	642205	6602798	202	-90	130
RKAC262	642201	6602398	202	-90	122
RKAC263	642193	6601995	203	-90	89
RKAC264	642180	6601598	204	-90	123
RKAC265	639785	6599254	207	-90	108
RKAC266	639780	6599146	207	-90	108
RKAC267	639798	6596898	205	-90	80
RKAC268	638950	6596750	206	-90	75
RKAC269	638951	6596850	206	-90	81
RKAC270	639403	6596792	206	-90	70
RKAC271	639404	6596402	206	-90	77
RKAC272	639399	6597199	206	-90	62
RKAC273	638552	6598648	202	-90	74
RKAC274	638553	6598552	202	-90	96
RKAC275	638499	6598401	202	-90	81
*RKAC276	635005	6593601	204	-90	88
*RKAC277	635000	6594002	204	-90	90
*RKAC278	634998	6594403	201	-90	86
*RKAC279	635006	6594801	201	-90	79
*RKAC280	635005	6595200	204	-90	75

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Drillhole	Easting	Northing	RL (m)	Dip	Depth (m)
*RKAC281	634990	6595602	205	-90	69
*RKAC282	635010	6596009	205	-90	71
*RKAC283	635007	6596400	204	-90	82
*RKAC284	635010	6596803	202	-90	82
*RKAC285	634998	6597199	202	-90	104
*RKAC286	635000	6597598	203	-90	90
*RKAC287	635013	6597998	203	-90	67
*RKAC288	642149	6601218	205	-90	136
*RKAC289	642192	6600800	205	-90	141
*RKAC290	642198	6600389	206	-90	150
*RKAC291	633911	6587409	199	-90	109
*RKAC292	633923	6587796	199	-90	93
*RKAC293	633920	6588199	199	-90	114

Note: Co-ordinates GDA94 MGA Zone 51

Assay results pending

Appendix 2: Tenement Schedule as at 30 June 2018

Mining Tenements

Tenement Reference	Location	Interest at beginning of Quarter	Acquired / Withdrawn	Interest at end of Quarter	Comments
E28/1718	Fraser Range, Western Australia	70%	N/A	70%	70:30 JV
E28/1727	Fraser Range, Western Australia	70%	N/A	70%	70:30 JV
E28/2188	Fraser Range, Western Australia	70%	N/A	70%	70:30 JV
E28/2189	Fraser Range, Western Australia	70%	N/A	70%	70:30 JV
E28/2190	Fraser Range, Western Australia	70%	N/A	70%	70:30 JV
E28/2191	Fraser Range, Western Australia	70%	N/A	70%	70:30 JV
E28/2192	Fraser Range, Western Australia	70%	N/A	70%	70:30 JV
E28/2404	Fraser Range, Western Australia	100%	N/A	100%
E28/2405	Fraser Range, Western Australia	100%	N/A	100%
E28/2675	Fraser Range, Western Australia	100%	N/A	100%
E28/2676	Fraser Range, Western Australia	100%	N/A	100%
E28/2677	Fraser Range, Western Australia	100%	N/A	100%

Farm-In or Farm-Out Arrangements

Tenement Reference	Location	Interest at beginning of Quarter	Acquired / Withdrawn	Interest at end of Quarter	Comments
None	N/A	N/A	N/A	N/A	N/A

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AI assistant

LEGEND MINING LIMITED Interim / Quarterly Report 2018

65223_rns_2018-07-10_b399cd61-eea4-45a0-80b4-8afe7173ba2c.pdf