Slide 1: Company Update: Gidgee & Mt Gibson Projects
COMPANY UPDATE GIDGEE & MT GIBSON PROJECTS May 2006
Slide 2: Key Points
Key Points PEOPLE Experienced Team PROJECTS Outstanding Exploration Upside ■ Gidgee Western Trend (Au) ■ Mt Gibson Base Metal System (Zn-Cu) CASH Plus $8M (Post Capital Raising)
Slide 3: People
People Chairman Michael Atkins Managing Director Mark Wilson Technical Director Bob Perring Non-Executive Director Dermot Ryan Exploration Manager Derek Waterfield
Slide 4: Dedicated Exploration Team
Dedicated Exploration Team
Slide 5: Position – 31 March 2006
Position – 31 March 2006 Shares 458,578,322 Options 20,900,000 Cash $2M Loans Convertible Note: $5M (125M shares + 125M options at 4cents) Cash Loan: $3M (repay May 2006) Equity Backed Bond Facility: $3.145M
Slide 6: New Position – June 2006
New Position – June 2006 Shares 861,437,644 Options 303,909,440 Cash Plus $8M Capitalisation $34.4M at $0.04/share Loans $3.1M (Environmental Bond Facility)
Slide 7: Projects - Location
Projects -Location Opportunity Greenfields Discovery + Established Resources and Infrastructure Gold Resources (Leverage) Gidgee 510,000 oz. Mt Gibson 559,000 oz. TOTAL 1,069,000 oz.
Slide 8: Exploration Key Points
Exploration Key Points KEY EXPLORATION STRATEGY Explore within terrains that have a track-record of high-impact discoveries. RISK PROFILE Focus on high-reward opportunities at lowest possible risk. DISCOVERY Know the footprint of your minimum target size. Recognise success early. AGGRESSIVE EXLORATI
Slide 9: Exploration Expenditure
Exploration Expenditure Forecast Rate of Exploration Expenditure - 2006 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $1,000,000 Drilling Commences - Gidgee $800,000 $600,000 Drilling Commences – Mt Gibson $400,000 AGM $200,000 $0 Subject to completion of proposed capital raising to be put to shar
Slide 10: Priority Gold Target Areas
Priority Gold Target Areas Gold Prospect or Mine 40 Castor km ra North Splay di u Helios Legend Project Area s Land Held by Others Gidgee Trend Western Trend Victory Splay Structural Trend Internal Granitoid Gidgee Mill Priority Target Area 10 km
Slide 11: Projects - Location
Projects - Location LEGEND Western Australia Q Carnarvon Meekatharra Gidgee Project 4 N Mount Magnet 9 Q Golden Grove g Leonora Q Kalgoorlie Esperance O
Slide 12: Mt Gibson - District
Mt Gibson - District Golden Grove Resource: 17.0Mt @ 5.9% Zn,1.9% Cu, 1.3g/t Au One of the top 15 Volcanic-Hosted Massive Sulphide (V-HMS) deposits in Golden Grove the world Oxiana Limited Greenstone Sequence 50km Mt Gibson Granite Legend Mining Limited
Slide 13: Mt Gibson Mine Area
Mt Gibson Mine Area +500ppm Zn in shallow drill holes Longsection
Slide 14: Mt Gibson - Longsection
Mt Gibson - Longsection 8000mN 10000mN Orion 2/3 Orion 1 Lexington Enterprise Hornet 0mRL 0.7m/1.8% 4.5m/5.9% 4.0m/1.5% 0.5m/6.3% 2.2m/1.5% NA 1.36m/2.9% NA NSR -500mRL NA NA 4m/13.4% Minimum Target (1.6Mt) 1.2m/4.2% -1000mRL Scuddles Zinc Orebody (8Mt) -1500mRL 0.7m/1.85% Completed Hole (metres/zin
Slide 15: Key Points
Key Points PEOPLE Experienced Team PROJECTS Outstanding Exploration Upside ■ Gidgee Western Trend (Au) ■ Mt Gibson Base Metal System (Zn-Cu) CASH Plus $8M (Post Capital Raising)
Slide 16: Disclaimer
Disclaimer 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
Slide 17: www.legendmining.com.au
MINING LIMITED www.legendmining.com.au