Legend Mining Limited (Legend) is pleased to report geology, DHTEM and assay results from the latest diamond drillholes at its flagship Mawson nickel-copper-cobalt prospect within the Rockford Project, Fraser Range, Western Australia.

Comprehensive details are contained in the body of this report. Legend Managing Director Mr Mark Wilson said: 'The results in this announcement continue the evolution and understanding of the Mawson Prospect. The mineralised intrusion has been extended to the northeast and importantly there has been a big increase in the extent of the high MgO ultramafic core. Recent drilling has also intersected encouraging nickel-copper mineralisation in RKDD071 and mineralisation proximal to EM conductors. 'This new data is continually updating the 3D model, which will be the predictive tool for identifying trap sites for massive nickel-copper sulphide accumulations. Our systematic programme of diamond drilling followed by DHTEM to identify priority targets is ongoing at Mawson.'

Below is a technical summary of assays received and the diamond drilling completed at the Mawson Ni-Cu-Co prospect since the ASX Announcement 12 July 2021. A total of twelve further diamond drillholes have been completed or in progress (RKDD056 and RKDD062-RKDD072), with diamond drilling continuing. Systematic step-out diamond drilling continues to grow the Mawson intrusion to the north-east, intersecting fertile intrusion as well as defining the architecture of the Mawson intrusion in relation to the country rock.

The evolving understanding of the Mawson structural architecture has resulted in the potential identification of trap sites for massive Ni-Cu sulphide accumulations in this north-east zone. The 3D model driving predictive exploration at Mawson continues to evolve with new data and continues to be very accurate as a predictive tool for targeting interpreted fertile intrusion. The updated 3D constrained gravity model at this stage appears to have a high correlation for mineralised intrusion. To date, the mineralised intrusive footprint at Mawson extends over 1.4km in strike length, with the gravity model suggesting the intrusion extends over 3km in strike length. Ongoing drilling across Mawson will focus on continued definition of these mineralised intrusive bodies and targeting of structural trap sites for massive Ni-Cu sulphide accumulation.

Section 6,599,000mN

Diamond drillhole RKDD065 was completed 200m east of RKDD042, designed to extend the mineralised chonolith to the interpreted eastern margin of the Mawson intrusion. The drillhole also provided a point location test of a series of complex DHTEM and MLTEM conductors interpreted to be the D3 stratigraphic conductor. RKDD065 encountered a dominantly mafic sequence with minor interleaved ultramafic zones of the chonolith below a metasedimentary hanging wall sequence of meta-pelite before entering a variably mineralised intrusive, dominantly ultramafic, from 280.36m to 391.56m downhole. The hole then entered the footwall sequence of recrystallised mafic intrusives before finishing in a faulted metasedimentary package including graphitic and sulphidic zones to end of hole at 554.2m.

The graphitic and sulphidic zones are interpreted to represent a complex set of EM conductors associated with stratigraphic conductor D3. The mineralised intrusion in close proximity to these complex conductors confirms the current working model at Mawson that Ni-Cu sulphide mineralisation can be masked in the EM shadow of these highly conductive stratigraphic features

Diamond drillhole RKDD064 has been completed 400m east of RKDD044. Drilling continues to target the interpreted northern extension of the Mawson chonolith with RKDD064 designed to extend the mineralised chonolith to the interpreted eastern margin of the Mawson intrusion on this section. The drillhole also provided a point location test of a series of complex DHTEM and MLTEM conductors interpreted to be the D3 stratigraphic conductor. RKDD064 intersected a series of thick ultramafic units bounded by thin units of mafic interpreted to be a significant thickening of the ultramafic chonolith core. The chonolith is over 400m in vertical thickness in RKDD064, with the dominantly ultramafic component being the thickest intersection to date at Mawson. The chonolith finished at 406.84m downhole, where the drilllhole entered a complex zone of interleaved graphitic metasediments, amphibolites, and small mafic intrusions to 624.5m.

Forward Looking Statements

This announcement contains 'forward-looking statements' within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'continue', 'objectives', 'outlook', 'guidance' or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. These forward-looking statements are based upon a number of estimates, assumptions and expectations that, while considered to be reasonable by Legend Mining Limited, are inherently subject to significant uncertainties and contingencies, involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Legend Mining Limited and any of its officers, employees, agents or associates.

Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Exploration potential is conceptual in nature, to date there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forward-looking statements and Legend Mining Limited assumes no obligation to update such information made in this announcement, to reflect the circumstances or events after the date of this announcement

Contact:

Mr Mark Wilson

Tel: +61 8 9212 0600

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