LEGEND MINING LIMITED — Investor Presentation 2011

Nov 15, 2011

==> picture [720 x 95] intentionally omitted <==

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

Legend Mining Limited
Level 2, 640 Murray Street, West Perth WA 6005
Tel: +61 8 9212 0600 | Fax: +61 8 9212 0611
----- End of picture text -----

==> picture [213 x 63] intentionally omitted <==

==> picture [269 x 272] intentionally omitted <==

==> picture [162 x 83] intentionally omitted <==

==> picture [160 x 78] intentionally omitted <==

“ Legend, Cameroon, Iron Ore”

Investor Presentation

==> picture [720 x 95] intentionally omitted <==

• Mineral Exploration Company with a strong cash position

• Focussed on Iron Ore in West Africa

• 2900km[2] project area in Cameroon

• One project area in Western Australia

• Management strategy for growth

• Delineate magnetite resource whilst continuing the search for DSO in Cameroon

• Further project acquisition

==> picture [268 x 85] intentionally omitted <==

2

==> picture [720 x 95] intentionally omitted <==

Cameroon as a Nation

• Small, peaceful and politically stable – only 20M people

• • Official languages: French, English

• Religion: Christianity 70% Islam 20%

• 70% rural and farming

• Total trade with Australia: 2010-11 A$4B Source DFAT

• Significant mining project developments underway

• Sundance Resources Ltd, T.O. - $1.6B, Infrastructure - $4.5B, ASX:SDL

• • Geovic Mining Corp, Cobalt Manganese, TSX:GMC

• • Afferro Mining Inc, Iron Ore, TSX-V:AFF

• Encouraging foreign investment

3

==> picture [720 x 95] intentionally omitted <==

==> picture [80 x 110] intentionally omitted <==

Chairman Michael Atkins

==> picture [77 x 106] intentionally omitted <==

==> picture [75 x 106] intentionally omitted <==

==> picture [74 x 105] intentionally omitted <==

==> picture [81 x 105] intentionally omitted <==

Managing Non-Executive Company Exploration Director Director Secretary Manager Mark Wilson Dermot Ryan Dennis Wilkins Laurent Sapor

90%

==> picture [78 x 105] intentionally omitted <==

==> picture [76 x 102] intentionally omitted <==

==> picture [77 x 104] intentionally omitted <==

==> picture [81 x 100] intentionally omitted <==

Camina SA Cameroon

Managing Administration Community Exploration Director Manager Relations Manager Francis Mabou Christian Abomo Jean Alain Nkot Philippe Koehn

==> picture [268 x 85] intentionally omitted <==

4

Capital Structure

Shares

1,740 M (1/11/2011)

Options

391M @ 4c (04/02/2015)

30M @ 6c (04/02/2015)

11.4M Employee Options

* _800M Performance Options (4/2/2015)**_

Cash (incl. Shares)

• $8.6M (30/09/2011)

Capitalisation Capital and Structure $61M @ $0.035 (12 month range $40-170M)

• a) 400M performance options (a) exercisable for nil consideration, once a JORC compliant resource of 250Mt of iron ore containing a minimum of 50Mt of Direct Shipping Ore (DSO) is identified on the permits.

• b) 400M performance options (b) exercisable for nil consideration, once a JORC compliant Resource of 2Bt of iron ore containing a minimum of 200Mt of DSO is identified on the permits OR the first US$60M from sales of ore from the permits is achieved

5 5

==> picture [720 x 95] intentionally omitted <==

==> picture [560 x 370] intentionally omitted <==

6

==> picture [720 x 95] intentionally omitted <==

People Infrastructure

==> picture [311 x 233] intentionally omitted <==

==> picture [315 x 200] intentionally omitted <==

Project Size Iron Ore Prospectivity

7

==> picture [720 x 95] intentionally omitted <==

==> picture [151 x 97] intentionally omitted <==

==> picture [152 x 98] intentionally omitted <==

==> picture [151 x 95] intentionally omitted <==

Sundance Ltd Access Co-operation Agreement May 2011

==> picture [545 x 360] intentionally omitted <==

8

==> picture [720 x 95] intentionally omitted <==

==> picture [290 x 390] intentionally omitted <==

==> picture [271 x 391] intentionally omitted <==

9

==> picture [720 x 95] intentionally omitted <==

==> picture [289 x 404] intentionally omitted <==

2972km[2] contiguous area held by three granted exploration permits

Extensive aeromagnetic survey completed February 2010 Red indicates highest total magnetic intensity

Red areas much more extensive than indicated by previous mapping (BRGM 1986)

Exploration Activity Summary

10

==> picture [720 x 95] intentionally omitted <==

Melombo East

A substantial target showing excellent early results

==> picture [361 x 244] intentionally omitted <==

Drillhole location with Magnetite Gneiss Outcrop/Subcrop over aeromagnetics

==> picture [268 x 85] intentionally omitted <==

First Assay Results

• DH0044 – 116.2m @ 26.2% Fe

• • DH0046 – 80.5m @ 36.6% Fe

22 holes planned, planned completion by first quarter 2012

Legend recently purchased drill rigs and has drilling team in place

• 1 of 15 exploration targets within the Ngovayang Project granted permit

11

==> picture [720 x 95] intentionally omitted <==

Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1	Average DTR Product Grade for Sample Met1
Product	Mass %	Fe Distribution%	Fe%	SiO2%	Al2O3%	P%	S%	LOI%
Head	100	100	31.45	47.48	2.98	0.097	0.070	-0.89
Concentrate	36.8	82.7	70.8	1.42	0.20	0.006	0.028	-3.30

Coarse Grain Low Impurities High Iron Coarse Grind Simple Process Saleable Product Low Power Cost Low Cost

==> picture [344 x 90] intentionally omitted <==

Magnetite Gneiss Core – Hole NESD011 (sample MET1)

==> picture [138 x 196] intentionally omitted <==

Niton Gun

12

==> picture [720 x 95] intentionally omitted <==

Inputs

==> picture [20 x 13] intentionally omitted <==

==> picture [20 x 13] intentionally omitted <==

• Assumed location at Melombo East Assumed metallurgy from March 2011 test work

==> picture [20 x 13] intentionally omitted <==

==> picture [20 x 13] intentionally omitted <==

Independent consultants conducted study

Outputs

==> picture [20 x 12] intentionally omitted <==

==> picture [20 x 13] intentionally omitted <==

Capex <US$1B Opex <US$50/t concentrate

==> picture [20 x 13] intentionally omitted <==

==> picture [270 x 182] intentionally omitted <==

==> picture [350 x 231] intentionally omitted <==

Cameroon Project Location and Infrastructure

Takeaways

==> picture [19 x 12] intentionally omitted <==

==> picture [20 x 13] intentionally omitted <==

• Highlights quality of magnetite concentrate Highlights advantages of location & Infrastructure

==> picture [20 x 14] intentionally omitted <==

==> picture [20 x 14] intentionally omitted <==

• Highlights multi deposit potential of Project

Nyong River

13

==> picture [720 x 95] intentionally omitted <==

==> picture [289 x 404] intentionally omitted <==

Magnetite Gneiss identified as host rock Positive Metallurgical Test/Quality Magnetite

==> picture [21 x 13] intentionally omitted <==

==> picture [21 x 13] intentionally omitted <==

DSO Potential

==> picture [21 x 13] intentionally omitted <==

Drilling ongoing

==> picture [21 x 14] intentionally omitted <==

Reconnaissance work ongoing

==> picture [21 x 13] intentionally omitted <==

==> picture [318 x 142] intentionally omitted <==

14

==> picture [720 x 95] intentionally omitted <==

==> picture [112 x 125] intentionally omitted <==

CAMEROON the home of the INDOMITABLE LIONS

==> picture [228 x 154] intentionally omitted <==

==> picture [283 x 359] intentionally omitted <==

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

Bringing Legend’s
Indomitable Aussie
Exploration Spirit to Cameroon
----- End of picture text -----

15

==> picture [720 x 95] intentionally omitted <==

This is not a disclosure document. Any material used in this presentation is a summary of selected data, and any investor in Legend Mining Limited should refer to all Legend Mining Limited ASX releases and statutory reports before considering to invest in the company.

Any forward looking information in this presentation has been prepared on the basis of a number of assumptions that may prove not to be correct. Neither Legend Mining Limited, nor its officers, employees and advisors make or give any representation, warranty or guarantee in relation to this presentation.

Legend Mining Limited reserves the right to update, amend or supplement the Information in this presentation at any time in its absolute discretion without incurring any obligation to do so.

The information in this presentation that relates to exploration results is based on information compiled by Mr Derek Waterfield who is a member of the Australian Institute of Geoscientists and is a consultant to Legend Mining Limited.

Mr Derek Waterfield has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code).

Mr Derek Waterfield consents to the inclusion in this presentation of the matters that relate to exploration results which in the form and context in which it appears.

==> picture [720 x 32] intentionally omitted <==

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

www.legendmining.com.au
----- End of picture text -----