LEGEND MINING LIMITED — Investor Presentation 2018

Feb 19, 2018

ASX:LEG

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Going the Distance in the Fraser Range

20 February 2018

RIU Conference

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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“Going the Distance in the 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) to 650Kt (2017)

• Price increase from US$3.80/lb to US$6.20/lb

• China and USA stainless steel demand robust

• Promising new electric vehicle battery demand

*Glencore Nov 2017

“Nickel deficit - stockpiles diminishing – price rising”

Nov 2017

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ABOUT LEGEND

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• ASX listed exploration company

 Market capitalisation ~$46M (2B shares @ 2.3c)

 Cash and liquids ~$8.3M as at 31 December 2017 (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)

• Positive aircore drilling results – December 2017

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Legend share price graph 2017 to 2018
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• 2018 programmes commencing in March

“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

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Legend

Main Players

Legend Active & Funded

Creasy Group Active & Private Independence (“IGO”) Active & ~$3B MC

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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

21 conductors identified by innovative MLTEM

• Drilling: 4 diamond holes for 2,652m 10 RC holes for 2,266m 180 aircore holes for 11,797m

Area D

Exploration spend Sept15 to Dec 2017 - $7.4M (Tax refund $2.4M)

• Area D aircore drillhole RKAC151

47m @ 0.30%Ni, 0.11%Cu, 0.03%Co

• 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 first aircore programme – broad spaced

• March 2018 follow up infill aircore around RKAC151 & RKAC167 and other targets

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

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Area D – Drillholes on Aeromagnetics

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AREA D – RIGHT LITHOLOGY

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• RKDD002 - Ultramafic with cumulate texture containing disseminated pyrrhotite and minor pentlandite-chalcopyrite

• Sulphidic metasediments/granulite (sulphur source)

• RKAC151 – Olivine rich Gabbronorite (Nova host rock) - 47m @ 0.30% Ni, 0.11% Cu, 0.03% Co

	Legend’s RKDD002 – Simplified Drill Log Summary	Legend’s RKDD002 – Simplified Drill Log Summary	Nova-Bollinger Schematic Section (SIR 2014)	Nova-Bollinger Schematic Section (SIR 2014)	Nova-Bollinger Schematic Section (SIR 2014)
	Interval	Description
	0 – 80.6m	Regolith
	80.6 – 207.0m	Gabbro
	207.0 – 603.5m	Mafic-Felsic Metasediments / Granulite
	459.3-472.9m	Sulphidic interval
	503.0-514.4m	Sulphidic interval
	526.4-583.9m	Sulphidic interval
	603.5 – 690.6m	Gabbro
	626.3-626.8m	Sulphidic interval
	661.0-661.35m	Sulphidic interval
	690.6 – 717.7m	Mafic Metasediments / Granulite	12

CURRENT/FUTURE PROGRAMMES

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2018

• March to May 2018 – 8,000m 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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AREA D – AIRCORE DRILLHOLE RKAC151 & PETROLOGY

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ASX:LEG

THANK YOU

LEGEND MINING LIMITED

WWW.LEGENDMINING.COM.AU

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