LEGEND MINING LIMITED — Regulatory Filings 2012

Apr 16, 2012

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ASX:LEG

17 April 2012 ASX Announcement

FURTHER SIGNIFICANT ASSAY RESULTS

FROM PHASE 1 DRILLING AT MELOMBO EAST

• Iron assay results for seven drillholes return significant grades/thicknesses

• Results include: 75.9m @ 33.68% Fe, 62.0m @ 28.71% Fe

• Five of the seven drillholes ended in mineralisation

• Phase 2 drilling programme planned to commence late this quarter

Legend Mining Limited (“Legend”) is pleased to announce assay results from a further seven diamond drillholes at the Melombo East Prospect in Cameroon West Africa, see Figure 1. These results represent all outstanding drillhole assays from the Phase 1 diamond drilling programme, which comprised 34 holes (DH042-075) for 2,349m.

Significant iron grades and thicknesses of magnetite bearing gneiss were returned including;

DH054: 54.4m @ 23.92% Fe from 46.1m to end of hole.

DH055: 58.5m @ 21.13% Fe from 42.0m to end of hole.

DH058: 47.3m @ 24.29% Fe from 49.5m.

DH060: 62.0m @ 28.71% Fe from 42.9m to end of hole.

DH061: 55.6m @ 28.96% Fe from 1.3m.

DH064: 73.5m @ 23.69% Fe from 27.0m to end of hole. DH066: 75.9m @ 33.68% Fe from 1.2m to end of hole.

Legend Managing director Mark Wilson said:

“These assays are consistent with previous drill results from Melombo East, both in grade and thickness. They also provide initial indication of continuity of mineralisation, with further closer spaced drillholes planned along cross sections. In addition, we have purchased a new rig to accelerate our drilling programme. This rig is due for shipping to Cameroon from South Africa this month.”

The Phase 2 drilling programme will initially focus on determining the continuity of grade/thickness of mineralisation on NW-SE trending cross sections over the prospect. Drillholes testing several recently identified geophysical targets will also be undertaken. Detailed planning of the Phase 2 programme is underway now these assays have been received.

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Figure 1: Ngovayang Project – Target Areas over Aeromagnetic Image (Analytical Signal of Total Magnetic Intensity)

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Technical Discussion

Melombo East

All assay results from the recently completed Phase 1 diamond drilling programme at Melombo East have now been received. The results of the outstanding seven drillholes (DH054, 55, 58, 60, 61, 64, 66) are presented in Table 1 below. Full drillhole details and previously returned assay results are given in Appendices 1 & 2.

	Table 1: Melombo East	Table 1: Melombo East	Table 1: Melombo East	– Diamond Drillhole Results	– Diamond Drillhole Results	– Diamond Drillhole Results	– Diamond Drillhole Results
Hole	**From **	To	Int	Fe%	SiO2%	Al2O3%	P%	LOI%
DH054	1.2	32.2	31.0	25.80	44.19	10.24	0.070	4.23
Incl.	20.5	32.2	11.7	32.59	48.27	1.53	0.111	-0.01
DH054	46.1	100.5 EOH	54.4	23.92	50.17	6.41	0.062	0.01
Incl.	58.7	100.5 EOH	41.8	26.78	47.84	5.15	0.069	0.01
DH055	1.2	19.7	18.5	25.22	40.72	13.62	0.064	7.35
	42.0	100.5 EOH	58.5	21.13	52.75	8.02	0.078	0.01
DH058	1.3	10.4	9.1	23.17	35.07	18.74	0.057	11.54
	49.5	96.8	47.3	24.29	51.60	6.36	0.072	-0.01
DH060	42.9	104.9 EOH	62.0	28.71	48.41	4.29	0.084	0.01
DH061	1.3	56.9	55.6	28.96	45.33	6.52	0.078	2.32
DH064	27.0	100.5 EOH	73.5	23.69	48.40	6.70	0.083	0.06
DH066	1.2	77.1 EOH	75.9	33.68	39.70	3.96	0.087	0.77

These results continue to demonstrate encouraging iron grades (+25% Fe) and thicknesses (+40m) of magnetite gneiss across the prospect. The fact that five of the seven drillholes ended in magnetite gneiss with associated iron grades between 21.1-33.7% Fe, adds to the potential of the prospect.

Importantly, drillholes DH046 and DH060, which are located 200m apart along a NW-SE trending section (perpendicular to the strike of the magnetite gneiss) display good correlation, see Figure 2. DH046 returned 80.5m @ 36.6% Fe from 20m to end of hole, while DH060 returned 62m @ 28.7% Fe from 42.9m to end of hole.

This correlation over a minimum width of 200m is also supported by geological mapping and geophysical modelling. Further infill drilling at 50m spacing between holes DH046 and DH060 and along section is planned to confirm the continuity of grade and thickness of the mineralisation.

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Figure 2: Drillhole Locations over Aeromagnetics

Phase 2 Drilling Programme

Based on a full geological, geochemical and geophysical review of the 34 hole drilling programme at Melombo East the following Phase 2 programme is proposed:

• Close spaced drilling initially between drillholes DH046 and DH060 to test grade/thickness continuity.

• Additional drillholes along several NW-SE trending cross sections to confirm grade and thickness continuity across the prospect.

• Complete drill testing in the northeastern part of the prospect with the new (more powerful) track mounted rig, where previous holes were not completed due to poor ground conditions and man portable rig limitations.

• Test four areas identified by geophysical interpretation as currently untested.

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APPENDIX 1: Full Details of Diamond Drilling Programme - Melombo East Prospect

Hole ID	Easting	Northing	Dip/Azimuth	Final Depth
DH042	686065	373167	-60/135	16.5*
DH043	686398	372915	-90/000	96.0
DH044	685676	372406	-90/000	150.0
DH045	686082	373171	-90/000	30.0*
DH046	685435	371695	-90/000	100.4
DH047	685664	371930	-90/000	84.0
DH048	685351	371421	-90/000	100.4
DH049	684773	370886	-90/000	100.6
DH050	684313	371615	-90/000	15.2*
DH051	684305	371618	-90/000	100.0
DH052	684660	371511	-90/000	89.1
DH053	685020	371068	-90/000	101.6
DH054	684578	372111	-90/000	100.5
DH055	684834	371194	-90/000	100.5
DH056	684470	370806	-90/000	100.5
DH057	684276	371538	-90/000	101.3
DH058	684683	371342	-90/000	102.0
DH059	684482	371424	-90/000	30.2*
DH060	685301	371914	-90/000	104.9
DH061	686455	373419	-90/000	77.3
DH062	686081	373115	-90/000	89.2
DH063	686664	373539	-90/000	30.2*
DH064	687128	373680	-90/000	100.5
DH065	687221	373550	-90/000	25.7*
DH066	686919	373420	-90/000	77.1*
DH067	686827	372640	-90/000	69.0
DH068	687082	372798	-90/000	22.7*
DH069	687140	372896	-90/000	30.2*
DH070	687188	373095	-90/000	20.4*
DH071	686620	372589	-90/000	30.2*
DH072	687288	373033	-90/000	30.2*
DH073	687454	373376	-90/000	30.0*
DH074	687095	373274	-90/000	65.4
DH075	687385	373012	-90/000	27.2*
Total				2,349

***** Drillhole abandoned due to poor ground conditions and rig limitations. Drilling utilised an Ingetrol man portable diamond drilling rig – HQ and NQ core sizes. Co-ordinates: Universal Transverse Mercator WGS84, Zone 32, Northern Hemisphere.

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APPENDIX 2: Previously Reported Diamond Drillhole Assays - Melombo East Prospect

Hole	**From **	To	Int	Fe%	SiO2%	Al2O3%	P%	LOI%
*DH044	33.8	150.0. EOH	116.2	26.2	48.9	5.4	0.092	0.04
Incl.	70.9	150.0 EOH	79.1	29.7	48.1	3.7	0.096	0.01
*DH046	20.0	100.5 EOH	80.5	36.6	44.6	0.2	0.103	0.04
**DH047	0	33.1	33.1	22.5	30.4	23.4	0.049	13.10
#DH051	0	48.5	48.5	23.0	47.7	10.1	0.054	1.45
#DH051	92.0	100.0 EOH	8.0	35.0	44.4	1.8	0.101	-1.37
#DH053	0	101.7	101.7	11.9	46.8	16.0	0.052	2.15
Incl.	0	11.8	11.8	20.2	16.4	29.1	0.084	17.88

• DH044 & DH046 reported previously to ASX on 11 November 2011.

**DH047 reported previously to ASX on 16 December 2011.

DH051 & DH053 reported previously to ASX on 12 March 2012

Assay Method Fe, SiO2, Al2O3, P by fusion XRF – OMAC Laboratory, Ireland. LOI – Loss on Ignition at 1,000[0] C determined gravimetrically.

The information in this announcement that relates to Exploration Results has been compiled by Mr Derek Waterfield, a Member of the Australian Institute of Geoscientists and a consultant to Legend Mining Limited. Mr Waterfield has sufficient experience relevant to 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

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