LEGEND MINING LIMITED — Investor Presentation 2018

Jul 17, 2018

ASX:LEG

Prospective Fraser Range

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Investor Presentation

July 2018

DISCLOSURE

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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 full time employee of 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 2012 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 in the form and context in which it appears.

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“Prospective Fraser Range”

CONTENTS

1. Nickel Market Commentary

2. About Legend  Investment Case  Rockford Project Location  Rockford Project Activities 3. Summary

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NICKEL MARKET COMMENTARY – ABOUT NICKEL

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2015 – 2018 Global Balance

• Balance in deficit since 2016, predicted to continue

• Stockpiles diminishing from peak 900Kt (2015)*

• Price increase from US$3.80/lb to US$6.20/lb ($7.13 max 19/4/18)

• China and USA stainless steel demand robust

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• Promising new electric vehicle battery demand

“Nickel deficit - stockpiles diminishing – price rising”

• Glencore Nov 2017

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ABOUT LEGEND

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• ASX listed exploration company

 Market capitalisation ~$100M (2B shares @ 5.0cps)  Cash and liquids ~$7.5M as at 30 June 2018 (includes $3M receivable from Jindal)  Fraser Range – Rockford Project

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Chairman Michael Atkins

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Managing Director Mark Wilson

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Exec. Director - Technical Derek Waterfield

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Company Secretary Tony Walsh

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INVESTMENT CASE

Fundamentals

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• Right People

  • Experienced corporate and technical team

  • Partner and major shareholder

    • Creasy Group (regional experience)

• Biggest block on best street (2,792 km[2] in Fraser Zone)

• Main Commodity – Nickel

• (stockpiles diminishing – price rising)

• Cashed up (several years exploration funds)

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Legend share price graph six months to May 2018

• Positive aircore drilling results (December 17 – June 18)

• 2018 Aircore drill programme ongoing

• “Exploration success – price appreciation”

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PROJECT LOCATION

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Rockford Project

• Located in northern Fraser Range district

• 120km NE of Nova / 100km S of Tropicana

• 100% within Fraser Zone (18% of total area)

• Project potential for

• −Nova style Nickel-Copper −Tropicana style Gold

• Infrastructure access

• “Project potential for Nova style Nickel-Copper”

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FRASER ZONE LAND HOLDERS

Legend

Main Players

Legend Active & Funded

Creasy Group Active & Private

Independence (“IGO”) Active & ~$3B MC Galileo Mining New IPO – Creasy backed

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• Leverage play is Legend

• M&A by mid-tiers bring back life to area

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ROCKFORD PROJECT UPDATE – SYSTEMATIC APPROACH

Summary to Date

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• • 25 Areas selected from aeromag and gravity

• Area D

21 conductors identified by innovative MLTEM Drilling: 4 diamond holes for 2,652m 10 RC holes for 2,266m 293 aircore holes for 21,816m Exploration spend Sep 15 to Jun 18 - $9M (Tax refund $2.4M)

• Area D aircore drilling success Nov 17 to Jun 18

• Still early days

Area covered by MLTEM surveys - 200km[2] /2792km[2] = 7.2% of Project area

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AREA D – RIGHT LOCATION

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• Within the Fraser Zone

• Defined by 430km long gravity “trend”

• Mapped as mafic / ultramafic intrusives

• Analogies to Thompson Belt in Canada which contains clusters of orebodies

• Contains three gravity “Hot Spots”

• Area D lies on NE margin of central HS

• Nova lies on NE margin of southern HS

“Fraser Zone considered highly prospective”

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AREA D – AIRCORE DRILLING

• Multiple aeromag targets within 16km x 5km feature

• RC/DD Drilling – July 2016 Positive petrology

• November 2017 – June 2018 153 holes for 13,315m

• Ultimate aim to generate areas of focus for innovative EM surveys

• Identified four zones of anomalous Ni-Cu-Co mineralisation within three separate intrusive bodies

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Area D – Drillholes on Aeromagnetics

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AREA D – RIGHT GEOLOGY

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• Thick blanket of nickel-copper-cobalt enrichment

• All holes ended in mineralisation

• All holes ended in gabbronorite (Nova Host Rock)

• Sulphides in hole RKAC183

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CURRENT/FUTURE PROGRAMMES

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2018

• November 2017 to June 2018

• 13,500m aircore programme

• Continued systematic approach MLTEM, FLTEM, LF EM surveys

• Follow up RC/DD testing

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SUMMARY

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• Highly Prospective Rockford Project

• Two years on ground <10% area first pass EM tested

• Systematic/persistent/committed = going the distance!

• Well Funded

• Experienced Stable Team and Partner

• Grow Shareholder Value

“Highly leveraged to success”

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SIR Nov 2011 (Nova discovery July 2012)

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“Highly leveraged to success”
LEG May 2018 15
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THANK YOU
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LEGEND MINING LIMITED

WWW.LEGENDMINING.COM.AU

ASX Code : LEG

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