LEGEND MINING LIMITED — Regulatory Filings 2012

Dec 9, 2012

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ASX:LEG

10 December 2012 ASX Announcement

GOLD TARGETS DEFINED BY STREAM SEDIMENT SAMPLING IN CAMEROON

 231 stream sediment samples collected focussing on gold

• Three high priority areas defined for follow-up work

• 25 of 62 pan concentrate samples from the priority areas contain more than 10 gold grains

• Maximum of 137 gold grains contained in one sample

• Assays for fine and coarse fractions awaited

Legend Mining Limited (“Legend”) is pleased to announce preliminary results from recent gold focussed stream sediment sampling at its Ngovayang Project in Cameroon, West Africa, see Figures 1 & 2. A total of 231 pan concentrate samples have been collected from an area covering a major regional shear corridor, which is considered prospective for gold mineralisation.

Legend Managing Director Mark Wilson said “Our field team has done an outstanding job to cover this large area in our first gold programme at Ngovayang. The shapes of the gold grains observed suggest a close source and the assays from the coarse fraction in particular, will give a better understanding as to the origin of the gold.”

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Photo 1: Close up of gold grains, note largest grain 2.4mm - Sample no. 587674

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Technical Discussion

A total of 231 stream sediment samples were collected from a drainage shed on the southeastern side of the Ngovayang Range, which contains some small scale artisanal alluvial gold workings, see Figure 1. The sampled area straddles a wide NE-SW trending regional shear corridor with normal movement, which has uplifted metasediments on the eastern edge of the range and eroded a steep slope to an area with relatively low relief in the southeast. The metasediments have a high calcium content and can be best described as garnet bearing carbonate-silicate rocks, making them particularly good host rocks for gold bearing hydrothermal fluids. Granitoids and ultramafics have intruded the metasedimentary package, which is evident in the aeromagnetic and radiometric data.

Sampling Methodology

At each sample location, multiple sites within the active portion of the stream were identified and approximately 15-20kg of material from each site was collected and panned down to a heavy mineral concentrate of 5-50g, see Photo 2. An in-field observation of the multiple pan concentrate samples was then undertaken and the presence (or absence) and number of gold grains in the “best” sample recorded. A second more detailed count of all samples with greater than 10 gold grains was then undertaken in the field office using a high powered binocular microscope. The microscope observation provided information on gold grain size, shape and character, as well as identifying the minerals present in the heavy mineral concentrate, see Photos 1 & 3.

As well as a pan concentrate sample, at each sample site a 10kg bulk sample was collected and sieved into a “fine” -2mm fraction and a “coarser” +2mm to -6mm fraction. These sieved samples comprised 1 to 5kg of material, which has been submitted for gold analysis along with a multi-element suite. All assay results from the sieved fractions (462 samples) are awaited, and will be used in conjunction with the pan concentrate results to assist with the assessment of the origin of the gold and consequently the follow-up work programmes.

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Photo 2: Field crew panning stream sediment samples

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Figure 1: Pan concentrate sample location - number of gold grains and priority target areas

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Photo 3: Gold grains in heavy mineral pan concentrate - Sample no. 587674

Pan Concentrate Results

The pan concentrate sampling has identified three priority targets where “clusters” of samples containing anomalous numbers of relatively coarse (up to 2.4mm) gold grains have been observed, see Figure 1. The significance of these results will not be fully known until gold and multi-element assays from the “fine” (-2mm) and “coarse” (+2mm -6mm) fractions are returned, however are considered highly encouraging for first pass sampling.

Figure 1 shows the location of the 231 pan concentrate samples with the number of gold grains observed in the samples. Twenty five of the 62 samples taken from the priority areas contained more than 10 grains of gold, while a maximum of 137 gold grains was observed in a sample.

The gold grains observed under the binocular microscope ranged in size from 0.1 to 2.4mm, with grain shapes predominantly angular to sub-rounded. The angular to sub-rounded grain shape suggests that the grains have not been transported far and may be proximal to the gold source.

Follow-up Programme

It is envisaged that the gold and multi-element assay results from the two sieved fractions (-2mm and +2mm -6mm), used in conjunction with the pan concentrate data will greatly assist in defining the follow-up work programme.

Systematic follow-up programmes will involve a combination of:

• Further stream sediment sampling to better define anomalous streams,

• Geological mapping of streams and anomalous catchments,

• Soil and rockchip sampling.

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Figure 2: Cameroon project location

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Derek Waterfield, a Member of the Australian Institute of Geoscientists and a full time employee of Legend Mining Limited. Mr Waterfield has sufficient relevant experience in the styles of mineralisation and types of deposit under consideration, and in the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code), and consents to the inclusion of the information in the form and context in which it appears.

Visit www.legendmining.com.au for further information and announcements.

For more information: Mr Mark Wilson Managing Director Legend Mining Limited Ph: (08) 9212 0600

Mr Derek Waterfield Technical Director Legend Mining Limited Ph: (08) 9212 0600

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