SUMMARY

In March 2007 Legend commissioned an independent review of the Mt Gibson Mineral Resources as at 31 December 2006. The work was carried out by Dr S Carras of Carras Mining Pty Ltd, an acknowledged expert in this field. A summary is tabulated below:-

 

TOTAL LEGEND MINERAL RESOURCE – 31 DECEMBER 2006

 

Project	Measured (Au ozs)	Indicated (Au ozs)	Inferred (Au ozs)	Total (Au ozs)
Mt Gibson	0	547,200	11,800	559,000

 

 

Au ozs: ounces of contained gold

 

Detailed Mt Gibson Project Mineral Resources
As at 31 December 2006

 

Prospect	JORC Classification	Tonnes (t)	Grade (g/t)	Au (ozs)	COG (g/t)	Comments
Saratoga	Indicated	1,747,000	1.76	98,900	1.0	MMW and MD applied.
Orion 2/3	Indicated	2,681,000	1.92	166,000	1.0	MMW and MD applied.
Enterprise	Indicated	411,600	1.92	25,400	1.0	MMW and MD applied. Enterprise, Enterprise West and Yorktown were previously reported as Midway.
Enterprise West	Indicated	449,900	1.76	25,500	1.0
Yorktown	Indicated	494,200	1.67	26,500	1.0
Hornet	Indicated	1,167,000	2.05	77,000	1.0	MMW and MD applied.
Capricorn	Indicated	269,900	2.25	19,500	1.0	MMW and MD applied.
Mt Gibson Laterite	Indicated	116,000	1.15	4,300	1.0
Highway South	Indicated	111,000	2.73	9,800	1.0	Internally diluted.
Aquarius	Indicated	85,700	2.59	7,100	1.0	Internally diluted.
Orion 1	Indicated	524,000	2.03	34,200	1.0	Undiluted.
Howler	Indicated	380,600	2.55	31,200	1.0	Internally diluted.
Tobias Find	Indicated	130,400	2.58	10,800	1.0	Internally diluted.
Sheldon	Indicated	105,200	3.25	11,000	1.0	Internally diluted.
TOTAL INDICATED		8,673,500	1.96	547,200
Orion 2/3 Underground	Inferred	60,500	4.40	8,600	3.0	MMW and MD applied.
Hornet  Underground	Inferred	20,000	5.00	3,200	3.0
TOTAL INFERRED		80,500	4.55	11,800
TOTAL INDICATED+INFERRED		8,754,000	1.98	559,000

 

Mineral Resources are estimated using open-cut mining parameters unless otherwise stated.

 

MD = mining dilution, MMW = minimum mining width, COG = lower cut-off grade.

 

 

The information on Mineral Resources at Mt Gibson contained in this report is based on data compiled by Dr S Carras of Carras Mining Pty Ltd, a Fellow of The Australasian Institute of Mining and Metallurgy. Dr Carras has sufficient experience which is relevant to the style of mineralisation and type of deposits 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” and consents to the inclusion of the information in the form and context in which it appears.