Legacy Iron Ore Limited - REVISED MINERAL RESOURCE ESTIMATES OF THE MT CELIA GOLD PROJECT

About this update from Legacy Iron Ore Ltd

Legacy Iron Ore Limited (Legacy Iron or the Company) is pleased to advise that the recently completed resource estimation for the Kangaroo Bore, Blue Peter and Margot Find deposits. The Mt Celia project has resulted in a decrease of 46% for the total contained gold of the project in the Measured and Indicated category classification, inclusive of mining depletion. The revision in the geological and resource model has been completed by Andrew Hawker , Principal Geologist, HGS Australia (HGS). As per the new estimates, Mt Celia has Measured, Indicated, and Inferred resource endowment of 4.30 MT @ 1.84 g/t for 255,200 oz. The revised total Mt Celia gold resource endowment with 46% i.e., 90,800 oz as Measured and Indicated Mineral Resources, provides further confidence of the economic potential of the Mt Celia project. These estimates continue to support the Company's aim of further developing the Mt Celia gold project. Further, the Company believes there is significant potential to extend existing mineralisation and to discover new mineralisation within the project. Mineral Resource Statement The current Mineral Resource estimates (MRE) were prepared using the results from drilling programs with a data cut-off date of 1st of November 2024 . Further drilling commenced in late November, which was not included in the MRE update, with high grade results reported on 18th of December 2024 (ASX announcement - High Grade Drilling Intercepts at Mt Celia Gold Operation and 3 rd of March 2025 , (ASX announcement - High Grade Drilling Intercepts at Mt Celia Gold Operation). The estimates for all deposits are based on various cut-off grades applied to oxidation horizons of 0.5g/t oxide, 0.6g/t transitional, and 0.7g/t fresh. The lower cut-off grades reflect modest operating costs with marginal increases based on weathering profiles. Most of the Indicated resources are within the upper 150m and therefore considered amenable to open pit mining. Resource Estimation overview The database for March 2021 mineral resource estimation included 540 reverse circulation (RC) for 41,295 metres and 29 diamond drill (DD) holes for 4,959.29 metres. The database for the March 2025 mineral resource estimation increased to 1,788 reverse circulation (RC) holes for 91,310 metres and 29 diamond drill (DD) holes for 4,959.29 metres, and 8 unknown holes for 684 metres (2 unknown holes intersected the ore interpretation, COROM3 and KBLG4 and used in the estimation). The drilling has been performed on section lines oriented orthogonal to the general strike of the lodes. For both deposits, the nominal drill hole spacing is 10 m between sections, and 10 m along sections, with most of the holes dipping at 60-degree to the southwest (221-degree The earlier programs were conducted by several companies, including Anglo, Wells, Herald, and Union. Legacy Iron included several quality assurance protocols in its drilling program, including twinned DD and RC holes, field duplicates, laboratory duplicates, certified standards and coarse crushed blanks. Geological Modelling The mineralisation is hosted within sets of narrow, sub-parallel lodes that strike to the northwest and dip steeply to the northeast. Both prospective areas have mineralisation identified over strike lengths of approximately 2km. The interpretation comprises 42 lodes separated in both prospect areas, Blue Peter and Kangaroo Bore. Significant ore interpretation changes occurred between the March 2021 MRE and March 2025 MRE which impacted the total contained ounces within the Mt Celia project. The most significant change was from re-interpretation to thin veined mineralised domains which is supported by the increase in drill data and in pit mapping. Blue Peter 1 was modelled with 1 lode in March of 2021 with a width of 6.0m in thickness. Updated March 2025 MRE is modelled as1 lode between 1.5 - 2.5m in thickness. Blue Peter 2 lodes were modelled in March of 2021 with up to 3 ore lodes with widths between 2.0 - 6.0m in thickness. The updated March 2025 MRE, modelled 6 lodes with widths between 0.5 - 1.0m in thickness. Blue Peter 3 was modelled with 1 lode in March of 2021 with a width of 6.0m in thickness. Updated March 2025 MRE, modelled 1 lode between 2.0 - 3.0m in thickness. Kangaroo Bore was modelled with up to 3 lodes in March of 2021 with a width of 7.0 - 22m in thickness. Updated March 2025 MRE, modelled up to 3 lodes between 2.0 - 16.0m in thickness. Modifying Factors The historical study reports that Legacy has acquired indicate that some preliminary metallurgical testwork was performed by AMMTC in 1987-1988 on material collected from the Kangaroo Bore deposit. The following conclusions were contained in the AMMTC study report: - The material at Kangaroo Bore is amenable to heap leaching without the requirement for agglomeration. - Gold recoveries after 28 days leaching are in the range 84%-90% for 12.5-25mm crushed material. - Reagent consumptions are very reasonable at 0.9kg/t NaCN and 0.4-0.5 kg/t CaO. - Qualitatively, the physical characteristics of the ore do not appear to present any major processing constraints. - Also, the Bottle roll CIP leach testing of sulphide mineralisation were in the range of 91% to 97% and reagent consumption was low for both the samples. - The high gold recoveries indicate that ore is non-refractory. Legacy commenced metallurgical testwork as part of its 2020/2021 program, with a total of eight composite samples collected from Kangaroo Bore, Blue Peter, and Coronation and tested by ALS Metallurgy . The program included head grade analyses, density testing, mineralogical assessment, comminution studies, gravity gold recovery, and cyanide leach testing. The findings supported those from the earlier studies. Legacy's metallurgical consultants concluded that the material could be processed using a conventional comminution, gravity and carbon-in- leach/carbon-in-pulp (CIL/CIP) circuit, with expected recoveries in the low to high nineties. They also noted that although moderate sulfide levels were identified in the fresh material, high recoveries were maintained Mt Celia Deposit The Mt Celia project area is situated on the eastern margin of the Norseman-Wiluna Achaean Greenstone Belt within the Linden Domain of the Eastern Goldfields Province of the Yilgarn Craton. The area is underlain by an assemblage of deformed and altered Archaean greenstone lithologies of the Linden Domain, which have been intruded by foliated pre-to syn-tectonic adamellite and syenite granitic rocks. The mafic metavolcanic rocks have been subjected to medium-grade metamorphism with a higher amphibolite-grade metamorphic zone lying along the granitegreenstone contact. Gold mineralisation at Kangaroo Bore is hosted by folded and faulted silicified quartz-pyrophyllite schists, which are primarily associated with the steeply dipping, northwest trending Kangaroo Bore shear zone. Gold mineralisation at Blue Peter is hosted by a quartz vein hosted in a basalt. Competent Person Statement The information in this report that relates to mineral resource estimation is based on, and fairly represents, information that has been compiled by Andrew Hawker of HGS Australia, Principal Geologist. Mr Hawker has a Bsc. Geol and is a Member of the Australian Institute of Mining and Metallurgy . Mr Hawker has sufficient experience that is relevant to the style of mineralisation and type 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'. Mr Hawker consents to the inclusion in the report of the matters based on his information in the form and context in which it appears Contact: Tel: +61 (8) 9421 2000 Fax: +61 (8) 9421 2001 Email: [email protected] (C) 2025 Electronic News Publishing, source ENP Newswire

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