LEGEND MINING LIMITED — Investor Presentation 2021

Oct 4, 2021

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Unlocking Rockford
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Fraser Range, WA
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PAYDIRT NICKEL CONFERENCE

5 October 2021

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DISCLOSURE

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 report that relates to Exploration Results is based on information compiled by Mr Oliver Kiddie, a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Legend Mining Limited.

Mr Kiddie 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 Kiddie consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Important Notice

This Presentation does not constitute an offer to acquire or sell or a solicitation of an offer to sell or purchase any securities in any jurisdiction. In particular, this Presentation does not constitute an offer, solicitation or sale to any U.S. person or in the United States or any state or jurisdiction in which such an offer, tender offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and neither such securities nor any interest or participation therein may not be offered, or sold, pledged or otherwise transferred, directly or indirectly, in the United States or to any U.S. person absent registration or an available exemption from, or a transaction not subject to, registration under the United States Securities Act of 1933.

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Environmental, Social, and Corporate Governance

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Legend Mining prides itself on continuing, developing, and maintaining excellent Stakeholder Relationships Reflected in our updated ESG Policies found at: www.legendmining.com.au

‘Walking the Talk on Stakeholder Relationships’

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CONTENTS

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1. Nickel Market Commentary

2. About Legend

3. ➢ Investment case ➢ Rockford Project location ➢ Mawson Prospect ➢ Regional Exploration ➢ 2021 Activity Programs

4. Summary

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‘A ‘green metal’ story from a project with enormous growth potential’
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BATTERIES TO BECOME ALMOST 30% OF NICKEL MARKET BY 2030

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"Demand for nickel in batteries is estimated to grow by over 500% over the next decade, in large part to support the world's rising demand for electric vehicles“ Vandita Pant, BHP Nickel West

‘A bigger slice of bigger pie’

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CORPORATE SNAPSHOT - - RIGHT PEOPLE RIGHT COMMODITY STRONG CASH POSITION

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Capital Structure and Financials Cash Market Capitalisation ~$210M (2.7B @ 7.6c ps) $26.3M* Options Debt - 147M@7.2c 7 9/2022 Nil

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Directors & Senior Management
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Board of Directors

Key Management Lyn Anderson (OM Corporate) Derek Waterfield (GM Exploration)

Michael Atkins (Chairman) Mark Wilson (Managing Director) Oliver Kiddie (Executive Director) Tony Walsh (Company Secretary)

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‘Dedicated Staff, Driven by Success, All with Skin in the Game’
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*As at 30 June 2021

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WHY INVEST IN LEGEND?

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✓ Right People

• ➢ Experienced corporate and technical team

• ➢ JV Partners and major shareholders

• ➢ Creasy Group (regional experience)

• ➢ - IGO (regional experience)

• ✓ Biggest block on best street (~3000km[2] )

• ✓ Nickel – Future Facing Commodity

• ✓ Strong cash position - $26.3M @ 30/6/2021

• ✓ Systematic exploration approach ongoing

• ✓ Mawson Discovery – December 2019

• ➢ RKDD034– December 2020

• ➢ 3x Massive Ni-Cu zones now discovered 2021

✓ Regional prospective targets including:

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Octagonal, Magnus, Hurley, Crean, and +30 Untested Prospects

✓ Expenditure budget ~$15M for 2021

2 - ‘Circa 3000km of the most under explored Nickel belt in the world’

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ROCKFORD PROJECT LOCATION

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▪ Fraser Range, Western Australia

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

▪ 100% within Fraser Zone

▪ Primary Exploration Target Magmatic Ni-Cu-Co

• Outstanding Existing Infrastructure

• Transport and Power

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• Communications

– ‘Excellent infrastructure 300km east of Kalgoorlie’

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WHY EXPLORE IN THE ALBANY FRASER BELT?

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Mawson (Ni-Cu-Co)

Note: Mawson details released by Legend (ASX releases 2021) IGO Nova Site Visit Presentation 2 August 2019 ( p.58)

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‘The Fraser Range is a compelling, potential world class Nickel Belt’
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– FRASER RANGE MAIN PLAYERS

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Main Players

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– ‘Want Fraser Range Nickel Exposure? Legend is the Leverage Play’

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THE MAWSON INTRUSIVE COMPLEX

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Greater Mawson

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• 16kmx6km – interpreted as clusters of intrusives

• Largely untested target areas

• Massive nickel-copper sulphide in multiple diamond drill holes in 2020/2021 has increased prospectivity

• Geochemistry, geology and geophysics have assisted in prioritising for diamond drill targets

• 2 rig diamond drill program commenced March 2021

• +$10M planned expenditure 2021

‘16km x 6km Cluster of Prospective Intrusions’

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MAWSON EVOLVING THROUGH SYSTEMATIC EXPLORATION

February 2021 29 DD holes Chonolith ~400m strike length 1x Massive Ni-Cu-Co Zone 34 DD holes Chonolith +1.4km strike length 3x Massive Ni-Cu-Co Zones

August 2021

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‘Mawson An Evolving Story’
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MAWSON INTRUSION 3D MODEL

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Mawson Intrusion - 3D Model ‘Mawson Continues to Evolve & Grow’

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– - - MAWSON PROJECT DE RISKING METALLURGY

Composite Head Assay
		Cu (%)		Ni (%)		Fe (%)			S (%)		MgO (%)
Head assay		1.66		2.61		56.2			35.8		0.16
Preliminary Concentrates Produced
	Bulk Concentrate				Copper Concentrate			Nickel Concentrate
	Nickel Recovery	Copper Recovery	Grade (Cu+Ni)%		Recovery		Grade (Cu%)	Recovery		Grade (Ni%)		Fe:MgO
Rougher	99.2	99.9	4.5		93.1		24.2	91.7		2.68		1884
Cleaner	88.2	99.0	12.0		84.1		31.8	80.0		13.1		380

Phase 1 Sighter Metallurgy Completed RKDD034 – Massive Ni-Cu-Co Domain

• ✓ Recovery and concentration via conventional flotation

• ✓ Separate Nickel and Copper concentrates

• ✓ High recoveries

• ✓ Outstanding Fe:MgO ratio

• ✓ No deleterious elements

• ✓ Optimisation to yield further improvement

‘High Value Nickel & Copper Concentrates via Conventional Flotation’

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– - - MAWSON PROJECT DE RISKING ENVIRONMENTAL

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Phase 1 Environmental Surveying Completed

Level 1 Flora & Fauna Survey Completed

✓ Large Survey Area >1600ha.

✓ No PEC’s or TEC’s identified ✓ Focused Future surveys to refine footprint

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‘Level 1 F&F Completed across Mawson’

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ROCKFORD REGIONAL TARGETS

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Regional Target Pipeline – Testing 2021

▪ Project scale target analysis identifies over 30 new highly-ranked targets

▪ Innovative MLTEM scheduled for highest ranked targets

▪ Diamond drilling Octagonal, Magnus, Hurley, and Crean underway

▪ +$4M planned regional expenditure

2021

– ‘Regional Targets in Addition to Mawson Targeting the Next Nova’

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OCTAGONAL & MAGNUS PROSPECTS

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Two ‘Eye’ Feature Intrusions

• Distinctive Nova type ‘eye’ features

• Aircore drilling identified prospective

Ni-Cu intrusions and sulphides

• Right intrusive rocks for nickel-copper e.g. Voisey’s Bay

• Diamond drilling & DHTEM underway

- ‘Two Prospective Intrusions on the Nova Silver Knight Structure’

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MAGNUS PROSPECT

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• Distinctive ‘eye’ feature (4.5km x

1.2km)

• Aircore drilling identified troctolite and fractionated norite

• First diamond drillhole intersects Right intrusive rocks for Ni-Cu e.g. Voisey’s Bay

• Basal contact below 600m?

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‘Same Host Rocks as Voisey’s Bay’
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OCTAGONAL PROSPECT

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• Distinctive ‘eye’ feature (4km x 2km)

• Third publicly disclosed occurrence of massive nickel-copper sulphide in Fraser Range

• • Fertile system, multiple Ni-Cu intercepts over +3km strike length

• • Many similarities to Nova intrusion

• • First diamond drillhole intersects primary Ni-Cu sulphide with large EM conductor

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‘Fertile Ni Cu Intrusion akin to Nova’
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OCTAGONAL ‘EYE vs NOVA ‘EYE’

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Identical Fold Features

• Distinctive ‘eye’ feature (4km x 2km)

• • Nova-Bollinger Mineralisation 450m600m below surface

• • Octagonal intrusion thicker >1000m?

• Below surface EM reach

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‘Octagonal…the twin sister of Nova?’
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HURLEY PROSPECT

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• Anomalous Ni-Cu Geochemistry e.g. RKAC1032 12m @ 0.19%Ni, 0.02%Cu

RKAC1100 9m @ 0.06%Ni, 0.05%Cu

• Identified EM conductors

• Right rocks – mafic intrusives

• Diamond drilling & DHTEM underway

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‘Highly Ranked Target’
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CREAN PROSPECT

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• Anomalous Ni-Cu geochemistry e.g. RKAC520 11m @ 0.42%Ni, 0.01%Cu RKAC538 28m @ 0.17%Ni, 0.02%Cu

• • Identified EM conductors

• Right rocks – mafic intrusives

• Diamond drilling & DHTEM underway

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‘Evolving Prospect’
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RECOGNISED INDUSTRY PROFESSIONALS

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A & A CRAWFORD Geological Research Consultants

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RN&N ENGLAND
Petrologist

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Geochemical Services Pty Ltd

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• ‘ –

• Legend team supported by world class consultants punching above our weight’

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ROCKFORD 2021 WORK PROGRAMS

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2021 Jul Aug Sep Oct Nov Dec
Mawson Prospect
Target Generation
Diamond Drilling
Geophysics			DHTEM
Regional
Statutory Approvals
Geophysics		M	LTEM/FLTEM/DH	TEM
Aircore Drilling
Diamond Drilling		Magnus	/Octagonal	Hurley/Crean

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‘Exploration Ongoing across the Rockford Project’
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BECOME A LEGEND!!

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✓ Right Project, Right Commodity, Right Time

✓ Systematic, Persistent, Committed

✓ Well Funded to Execute

✓ Right People

✓ Continue to Grow Shareholder Value

‘ Committed Exploration to Grow Shareholder Value’

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‘Mawson Camp’
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Thank you

Oliver Kiddie Executive Director ASX:LEG

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@LegendMiningLtd

www.legendmining.com.au

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Legend Mining Limited www.legendmining.com.au

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@LegendMiningLtd

ASX : LEG