LEGEND MINING LIMITED — Investor Presentation 2021

Jul 13, 2021

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Legend Mining Rockford Project Fraser Range, WA
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NOOSA Mining & Exploration Investor Conference Virtual Presentation from Perth, WA

15 July 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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CONTENTS

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1. Nickel market commentary

2. About Legend

3. Investment case

4. Rockford Project location

5. Mawson Prospect

6. Regional Exploration

7. 2021 Activity Programs

8. Summary

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A ‘green metal’ story with a forward facing commodity
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– NICKEL MARKET COMMENTARY ABOUT NICKEL

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LME Nickel Prices and Inventory

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• Current market deficit predicted surplus

• Role of Indonesia critical to medium –

• term market outlook ongoing China investment

• –

• Focus 2025 out sky is the limit for EV use (Ni chemistries remaining key technology)

• Flows into 5 year Discovery to Production

• Positive profile for Legend

Source: Kitco Oct 2020 Source: Macquarie Commodities Strategy, July 2021

Legend Perfectly Positioned to Capitalise

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– NICKEL ‘QUARTERLY GLOBAL NICKEL SUPPLY/DEMAND BALANCE’

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• Nickel market shows unexpected large

• deficit in first half 2021

• Massive demand growth (up 21.4% YoY)

• Significant draw on LME & SHFE stocks

• –

• Indonesia Major increase in NPI

production

• Predicted surplus to follow

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‘LME Prices/Stocks only Part of the Story’
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BATTERIES TO BECOME ALMOST 30% OF NICKEL MARKET BY 2030

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‘ – EV sales forecast 10 times increase from 2020 to 2030’

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ABOUT LEGEND

– RIGHT PEOPLE, RIGHT COMMODITY, STRONG CASH POSITION

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Capital Structure and Financials Cash Market Capitalisation ~276M (@ 10c ps) $31.1M* 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

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

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

*As at 31 Mar 2021, Includes Jindal receivable of $2M

‘Dedicated Staff, Driven by Success, All with Skin in the Game’

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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

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‘Walking the Talk on Stakeholder Relationships’
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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 - $31.1M @ 31/3/2021

• Systematic exploration approach ongoing

• Mawson Discovery – December 2019

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ASX:LEG
RKDD034
RKDD008
RKAC151 RKAC183 [Mawson Footprint] RKDD007
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• RKDD034– December 2020

• Expenditure budget ~$15M for 2021

Legend five year graph Exploration Success : The Value Driver

• 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

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

‘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

• 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

• • +$8M planned expenditure 2021

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’16km x 6km Cluster of Prospective Intrusions’
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ON SITE AT MAWSON WITH OLIVER KIDDIE

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“Mawson An Evolving Story”
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MAWSON SO FAR…

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Mawson Intrusion

• 2.4km x 1.1km intrusion open in all directions

• Large Ni-Cu-Co system

• Significant thickness of massive Ni-Cu sulphide i.e. RKDD034 31.1m @ 2.80% Ni, 2.04% Cu, 0.15% Co

• Multiple intercepts identifying broad disseminated Ni-Cu sulphide halo

• 3 massive Ni-Cu occurrences across +1km

• Enormous upside given blinding effects of stratigraphic EM plates

‘Results to date suggest we are just at the tip of the iceberg’

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– MAWSON METALLURGY

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Flotation Test Work of RKDD034
Massive Sulphide
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Phase 1 Sighter Metallurgy Completed RKDD034 – Massive Ni-Cu-Co Domain

• Recovery and concentration via conventional flotation

• Separate Nickel and Copper concentrates

• High recoveries

• Optimisation to yield further improvement

• Project de-risking

‘Nickel & Copper Concentrates via Conventional Flotation’

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ROCKFORD REGIONAL TARGETS

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Regional Targets – Testing 2021

• Project scale target analysis identifies

over 30 new targets

• Innovative MLTEM scheduled for

highest ranked targets

• Follow up with infill AC drilling

• Test compelling targets with RC/DD

• +$4M planned regional expenditure

2021

Rockford Prospect & Target Locations

‘Over 30 Targets Generated in Addition to Mawson’

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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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• ‘ –

• Team supported by world class consultants punching above our weight’

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ROCKFORD 2021 WORK PROGRAMS

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ROCKFORD 2021 WORK PROGRAMS	ROCKFORD 2021 WORK PROGRAMS	ROCKFORD 2021 WORK PROGRAMS	ROCKFORD 2021 WORK PROGRAMS	ROCKFORD 2021 WORK PROGRAMS	ROCKFORD 2021 WORK PROGRAMS	ROCKFORD 2021 WORK PROGRAMS	ROCKFORD 2021 WORK PROGRAMS
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			Hurley/Cr	ean Mag	nus/Octagonal

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JOIN THE LEGEND JOURNEY….

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 Right Project, Right Commodity, Right Time

 Systematic, Persistent, Committed

 Well Funded to Execute

• Right People

• Continue to Grow Shareholder Value

‘Highly Leveraged to Success’

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Thank you

Mark Wilson Managing Director ASX:LEG

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@LegendMiningLtd

www.legendmining.com.au

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