Announcement PDF ASX Announcement 30 July 2025 June 2025 Quarterly Stage 1 Scoping Study for Drake Project highlights outstanding development potential; Inaugural drilling campaign completed at Thomson Project, with assays awaited Highlights Drake Project - 0.8Moz Gold Equivalent plus 35Moz of Silver Equivalent Resources1,2,viii • • • Stage 1 Scoping Study delivers robust economics, confirming the Drake Project’s potential and highlighting compelling Resource and exploration growth opportunities i. Highlights include: o Average production of ~31,400ozpa at an AISC of ~A$1,726/oz over an initial five-and-a-halfyear production period. o A robust NPV of ~A$290.4M at an assumed base case gold price of A$4,250/oz. Stage 1 Scoping Study only evaluated 209koz of Au and a potential Stage 2 Study will assess the total 0.8Moz AuEq and 35Moz AuEq Resource. New assays from historical diamond drilling returned broad and high-grade gold intercepts, demonstrating Resource continuity at the Strauss deposit and delivering extensions to known gold mineralisation at Kylo, with both deposits remaining open in all directions ii. Thomson Project • Inaugural drill campaign comprising two 600m drill holes at the F4 and Cut-B anomalies completed during the Quarter, targeting interpreted intrusion-related gold and copper systems. • New assays from previously unsampled historical drill core define extensive zones of intrusionrelated gold, with assays up to 6.7g/t gold, 497g/t silver and 0.13g/t niobium. • Existing royalty over the Thomson Project acquired by Red Hill Minerals, supporting the project’s discovery potential. Generative Projects including Nico Young - ~1Mt Ni and ~100kt Cobalt2,iii • Major new nickel-cobalt deposit, the Nico Young deposit, pegged. • Reconnaissance drilling defines new vein trends at the Bauloora Project, with wide alteration zones highlighting prospective structural trends iv. • New assays expand the PGE-bearing system at Fontenoy to ~2km2, with assays of 374.6m at 0.1g/t 3E PGE from surface (no cut-off), including 40m at 0.2g/t 3E PGE from 110m (EFO21D) v. • Diamond drilling was underway at the Glenlogan Project by JV partner, S2 Resourcesv • Hilltops Gold has signed an Earn-In Joint Venture (JV) Agreement to earn an 80% interest in Legacy Minerals’ 100%-owned Harden Gold Project by spending $0.8M over four yearsv. Cash Position • $7.75M equity raising completed to accelerate exploration at the Drake and Thomson Projects vi. • Cash at the June 25 Quarter end was $5.4M with approval of Tranche 2 equity raised to be completed at the General Meeting to be held on 30 July. 1. See ‘Endnotes’ Page 21 for references; 2. See Appendix A and B for Resource and Metal Equivalents Page 1 of 21 | ABN 43 650 398 897 3/202 Russell Street Bathurst, 2795 www.legacyminerals.com.au ASX: LGM Page 2 of 21 Management Comment Legacy Minerals CEO & Managing Director, Christopher Byrne said: “The June Quarter has been another incredibly busy period for Legacy Minerals, with active exploration and evaluation programs underway across both our core assets and our generative project portfolio. Following the delivery of a Resource update for the Drake Project in the March Quarter, we published the results of a Stage 1 Scoping Study for the project in April, with the outcomes demonstrating clear value from the Stage 1 project with significant upside potential. Legacy is working to rapidly build on this upside opportunity, with assay results reported during the Quarter confirming Resource continuity at the Strauss deposit and extensions to the known gold mineralisation at Kylo. A potential Stage 2 Scoping Study is now being contemplated to evaluate the total 650koz of gold and 24.3Moz of silver defined in the recently updated 2025 Mineral Resource, which was not evaluated in the Stage 1 study. At the Thomson Project, the Company completed its first drilling campaign in mid-June after delays caused by a significant flooding event. This drilling targeted the high-priority Cut-B and F4 anomalies, both of which show compelling potential for intrusion-related gold and copper mineralisation. Assay results from this drilling are eagerly awaited and expected to be reported in late August or early September. We have also seen continued positive progress across our generative asset portfolio, with positive assay results reported from the Bauloora and Fontenoy projects, and a new diamond program commenced by our Joint Venture partner, S2 Resources, at Glenlogan. We were also very pleased to have opportunistically pegged the large-scale Nico Young nickel-cobalt deposit during the Quarter, providing a low-cost, counter-cyclical business development opportunity. Our ongoing exploration programs are well funded following a successful $7.75 million capital raising during the Quarter. This raising received exceptionally strong support from investors, reflecting the very strong quality of the Company’s asset portfolio and exploration programs.” Drake Project The Drake Project sits within the highly prospective New England Fold Belt (NEFB). It is one of several epithermal gold, silver, and base metal districts that formed along the Australian east coast during the Permian age as back-arc extensional volcanic basins. Several significant mines and deposits occur within the NEFB, including the Cracow gold mine (2.5Moz Au @ 4.97g/t), Mt Carlton gold mine (8.5Moz Au), Mt Rawdon gold mine (2Moz Au) and the Mt Carrington Mine which the Drake Project surrounds. Stage 1 Scoping Study Mining Plus, a global mining services provider, was engaged by Legacy Minerals to review and update the 2020 Pre-Feasibility Study (2020 PFS) for the Drake Project following the delivery of the updated 2025 Mineral Resource Estimate (MRE) announced on 13 March 2025. Due to the outstanding results of this review and with a goal of a more extensive study, Legacy Minerals elected to complete a Stage 1 Scoping Study as an alternative to updating the 2020 PFS. • The results of the Study demonstrate robust economics and provide valuable information to help SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 3 of 21 drive potential Resource growth through infill, expansion, and exploration drilling. Pre-tax highlights, based on a base case gold price of $4,250/oz, included: • • • • • • NPV at 8%: A$290.4 million IRR: 112% Free cash flow: A$314.1M Total Gold Production: 172,600oz Au Mine Life of Stage 1 Study: 5.5 Years All-in-sustaining cost: A$1,726/oz Key Parameters and approximate estimates: • • • • • • Payback period of ~16 months from pre-tax cash flows. Average gold production of ~31,400oz pa with 83% gold recovery. Mine design is based on open-pit mining methods, with a 1MT processing plant. Value of already built haul roads, water supply, and tailings dam demonstrated by ~A$47M CAPEX. Planned processing of ~5.06Mt of material at an average grade of ~1.29g/t Au for ~172,600oz Au. Full details of the Stage 1 Scoping Study were provided in the Company’s ASX Announcement dated 15 April 2025. A potential Stage 2 Study is now being considered to assess the total 650koz Au and 24.3Moz Ag defined in the recently updated 2025 MRE outlined above, which was not evaluated in the Stage 1 Scoping Study. The Stage 1 Scoping Study has only evaluated 209.5koz gold Resource from the Mt Carrington Group. Diamond Drill Core Assays Six previously unsampled historical diamond drill-core holes were dispatched for assaying during the June Quarter, with results returning broad and high-grade gold intercepts that build on the recently delivered Mineral Resource Estimate and Scoping Study for the Drake Project. These drill holes were completed by previous explorer, Thomson Resources, for a planned Definitive Feasibility Study (DFS) on the Drake Project but were never assayed. The Legacy Minerals team's subsequent review of the core indicated that these holes were worthy of analysis. Highlights from the assays included: • 95m at 0.9g/t Au and 0.35% Zn from 2m (95m at 1.03g/t AuEq from 2m- GT005) including, o 10m at 6.0g/t Au from 69m. • 18m at 1.4g/t Au, 10g/t Ag and 3.8% Pb+Zn from surface (18m at 2.7g/t AuEq from 0m - GT001). • 52m at 0.7g/t Au and 0.9% Pb+Zn from 3m (52m at 1.12g/t AuEq from 3m - GT004) including, o 9m at 3.0g/t Au and 1.1% Pb+Zn from 35m. • 17m at 0.5g/t Au and 0.7% Pb+Zn from surface (17m at 0.74g/t AuEq from 0m - GT002). The drilling was done within the Strauss and Kylo deposits as well as testing adjacent areas. Three of the short diamond holes were drilled on the margins of the optimised Kylo open pit (GT001-3), two SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 4 of 21 were drilled on the margin of the Strauss open pit (GT004-5) and two were drilled at Kylo West (GT0067). A number of intervals were unable to be located including 28-75m of GT001. 36-40m of GT002, entire drill hole GT003, 65-95m of GT004, 0-30m and 45-70m of GT006, and 0-13m of GT007. The Company is working towards locating and validating these missing sample intervals, which present the potential to extend the known mineralisation further. These historical drill holes have confirmed that mineralisation extends beyond the current pit shells that were optimised for gold-silver resources as part of the recently completed Stage 1 Scoping Study. Figure 1. Plan view showing drilling coverage and latest drill hole collar locations. (*NSR = no significant result) SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 5 of 21 Figure 2. Quartz-sphalerite-pyrite vein at 14.15m (GT002: 0.3g/t Au and 1.2% Zn from 14m) Figure 3. Chalcopyrite-sphalerite-quartz vein at 18.9m (GT005: 2.8g/t Au. 0.6% Cu and 1% Zn from 18m) Figure 4. Strauss cross-section highlighting recently returned assays from GT004 and GT005. Future work program The Company is awaiting the results of the completed Airborne Mobile MT survey and will incorporate this data into the Project database. This will aid the geological understanding of the Project and potentially to deliver a new generation of greenfield and brownfield drill targets. Final results are expected within the next few weeks. Airborne Mobile MT has been successfully used by companies, including K92 Mining Inc., to define targets in a gold-copper epithermal setting similar to Drake and supported K92’s Kainantu growth from 0.88Moz AuEq in 2015 to 18Moz AuEq in 2024. The exploration approach has three clear strategic goals: 1. Resource extension assessment: Test the brownfield targets at depth and along strike of highgrade gold, silver, and copper zones that target substantial Resource growth. 2. Discovery drilling – drilling to explore new greenfield epithermal-porphyry discoveries within the Drake Caldera. 3. Increase resource confidence by confirming historical drill results within existing Inferred Resources. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 6 of 21 Thomson Project Located west of Bourke, the Thomson Project covers 5,500km2 of tenure securing a belt-scale exploration opportunity for Legacy Minerals shareholders. Drilling Program During the Quarter, Legacy completed drilling of two large gold-copper targets at the Thomson Project to test for interpreted intrusion related gold and copper systems. The F4 and Cut-B anomalies within the Thomson Project are defined by discrete, coincident zones of elevated magnetic and gravity data. They represent just two of more than a dozen untested, large, discrete geophysical targets within the exploration licences that may potentially represent Intrusion Related Gold-Copper (IRG-Cu) mineralisation. Two 600m-deep drill-holes were completed for a total of 1,200m of drilling, using a combination of mud-rotary and diamond drilling techniques. The drilling commenced in mid-March and was completed later than expected in mid-June due to regional flooding. Initial assay results are expected in late August or early September. Figure 5. Oblique views of the F4 anomaly (Left image: 6613500mN, MGA94 z54) and Cut-B anomaly (Right image: 249750mE, MGA94 z55). 3D magnetic inversion model anomaly shells (Red >0.006 SI) and gravity anomaly modelled density shells (green >2.72) with surface showing magnetic RTP. Visual analysis of the drill core indicates that quartz and quartz-pyrrhotite-pyrite +/- sphaleritechalcopyrite veins were intercepted at both targets and are interpreted to be the cause of the magnetic and gravity anomalies. Drilling reached top of basement at 84.2m (CBDD004) and 88.8m (F4DD001) and continued in a variably hornfelsed and silica-carbonate altered meta-siltstone dominated package with thin, frequent to infrequent quartz veins to end of hole (600.2m – CBDD004, 460.3m – F4DD001). Further government drilling approvals are underway to test an adjacent historical ‘near miss’ at the Cut-A anomaly, where 2011 drill testing returned broad mineralised intervals, including: • • 377m at 0.1g/t Au (no cut-off) from 225m to 602m including, 41m at 0.4g/t Au (no cut-off) from 420m. Full details of the drilling program and visual analysis of the drill core were provided in the Company’s ASX Announcement dated 19 June 2025. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 7 of 21 Assaying of historical drill core In addition to Legacy’s drilling, more than 1,000m of previously unsampled historical drill core was sent for assaying during the March Quarter, including zones of observed mineralisation and alteration. Subsequent sampling and new assays from this historical core demonstrate the presence of largescale Intrusion-related Gold (IRG) systems at the Cut-A Anomaly, with strong evidence suggesting that similar systems may also occur at Cut-B, F4, and other identified targets across the Thomson Project area. Assays from the CutAD01 drill hole at the Cut-A Anomaly returned a broad anomalous interval of: • • 377m at 0.1g/t Au (no cut-off) from 225m to 602m including, o 11m at 0.8g/t Au from 287m (no cut-off) including,  3m at 1.6g/t Au from 283m, and  1m at 3.7g/t Au from 293m 41m at 0.4g/t Au from 420m (no cut-off) including, o 8m at 0.5g/t Au from 420m, and o 15m at 0.65g/t Au from 446m These latest assay results from historic drill core have delivered a broad anomalous uncut interval of 377m at 0.1g/t Au (no cut-off) from 225m. Pathfinder elements are consistent with a reduced intrusion related gold model where gold correlates with Bi and Te in quartz veins and As, Sn and W are elevated. The target is interpreted to be open in all directions. Further sampling (80m) and assaying is planned to be undertaken further up-hole between 216m to 136m. As sampling was aimed at providing proof-of-concept for IRG mineralisation, the first 60m of the top of basement from 136m to 180m was not sampled. Preparations are now underway for sampling this section of the hole. The Cut-B Anomaly The Cut-B anomaly exhibits a coincident elevated gravity and magnetic data which indicates a close spatial relationship between magnetic material and dense material. This target strikes east-to-west over approximately 900m. Historical exploration included the completion of a fence of three drill holes (CUTBDD01-3) which attempted to test the top of the main magnetic anomaly, however, the adjacent gravity feature appears untested. Tourmaline and biotite alteration was intercepted from 75m to 227m in drill hole CBRCD001 and subsequent follow-up drill hole CUTBD02 which tested beneath CBRCD001 intercepted pyrrhotitebearing quartz veins with rarer base metal and arsenopyrite-bearing quartz veins. These veins are within a 300m wide zone of silica-albite +/- tourmaline and biotite alteration indicative of a large, metalliferous, intrusion-related hydrothermal system. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 8 of 21 Figure 6. Cut-A anomaly cross section showing 3D magnetic inversion model anomaly shells (Red >0.0035 SI) and gravity anomaly modelled density shells (green >2.70) with historic drilling and chargeability (Section 232946mE, MGA94 z55). *No cut-off grade applied. These latest drill results have delivered several significant intervals further highlighting gold, silver and niobium endowment and increases the prospectivity of the target. Best results include: • • • • • 6m at 0.2g/t Au from 277m 0.5m at 0.4g/t Au, 38.3g/t Ag, 0.42% Bi and 0.2% W from 357.5m 1m at 6.73g/t Au from 370m 1m at 497g/t Ag, 0.13g/t Nb and 854ppm Mo from 392m 0.7m at 112g/t Ag, 0.5% Cu, 4.2% Zn and 0.4% Sn from 411m Sale of Royalty As part of Legacy Minerals’ $200k acquisition of the Thomson Project in 2024, a 1.5% Net Smelter Royalty was granted over licences EL 9190 and EL 9194 to Eastern Metals Pty Ltd (EMS). During the quarter, Red Hill Minerals acquired this 1.5% Royalty for $220k plus GST from EMS. Legacy Minerals can purchase the Royalty back at any stage for A$6 million. The royalty acquisition supports Legacy’s view that the Thomson Project presents a large-scale, gold and copper discovery opportunity. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 9 of 21 Nico Young Project During the quarter, Legacy Minerals pegged the nationally significant Nico Young nickel-cobalt deposit under Exploration Licence application ELA6901. The Nico Young deposit has an estimated Mineral Resource of 167.8Mt @ 0.59% Ni and 0.06% Co at a 0.6% NiEq cut-off, classified in compliance with JORC (2012), representing contained metal of approximately 1Mt of nickel and 100kt of cobalt. Full details of the Nico Young Mineral Resource Estimate were provided in the Company’s ASX Announcement dated 1 July 2025. The deposit was previously held by global mining company, Jervois Global Ltd, as an early flagship asset in its portfolio as it grew to a $1B market capitalisation. Jervois recently entered into USA Chapter 11 Bankruptcy and its 100% subsidiary, Nico Young Pty Ltd, relinquished the Project. Legacy Minerals is actively looking to secure a partner for the Project. With its profile as one of Australia’s largest nickel deposits, it immediately presents a significant opportunity for both national and international parties looking to secure a strategic deposit of critical minerals nickel and cobalt. The Company will minimise holding costs and preserve the asset until market conditions improve to realise value. Minimal holding costs are to be funded from Legacy’s existing cash reserves. Figure 7. Plan view map of ELA6901 (black outline) over solid geology interpretation. CML15 (red area) is excised from ELA6901, an active magnesite mine, and is not held by Legacy Minerals. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 10 of 21 Generative Projects Bauloora Project The Bauloora Project (EL8995 and EL9464) is located in the world-class Lachlan Fold Belt of New South Wales and covers an extensive hydrothermal alteration zone spanning 27km2. Within this broader alteration zone sits an anomalous gold zone currently mapped to 15km2. The Bauloora Project is subject to a Farm-In and Joint Venture agreement secured with Newmont Exploration Pty Ltd in 2023. Diamond drilling was completed at the Bauloora Project in December 2024, with processing completed and dispatched from the Newmont Cadia Valley in January. The drilling was funded under the Phase 1 Earn-In of the $15M Bauloora Joint Venture with Newmont. The drill program targeted a combination of undrilled, interpreted outcropping low-sulphidation epithermal veins and high-tenor geochemical anomalies with coincident geophysical anomalies. Four diamond holes were completed for a total of 950.2 metres. These tested the Thunderbolt and Quarry Prospects defined by a combination of anomalous soil geochemistry and geophysical signatures. The diamond drill holes have confirmed epithermal-style alteration with veining beneath elevated pathfinder rock chip and soil geochemical results and mapped veins while also suggestive that the main targets at the Quarry may not have been satisfactorily tested. Figure 8. Bauloora Project with recently completed drilling (red border) and previous highlight drilling results over Sb in soil sampling and regional geology interpretation. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 11 of 21 Thunderbolt Prospect At the Thunderbolt Prospect, a single diamond drill hole, for a total of 200m, was completed which tested the 1,300m long zone of elevated epithermal pathfinder elements defined in soil sampling. TH001 intersected strong argillic alteration from 0-200m with increased silica-sericite alteration and anomalous pathfinder elements associated with faults between 0-60m and 105-130mw with no significant gold-silver intercepts reported. The Prospect is interpreted to sit along strike of the Mt Felstead Prospect and as such the size and intensity of the alteration system is encouraging. Figure 9. TH001 cross section (MGA94z55 6177524mN) showing solid geology interpretation. Quarry Prospect At the Quarry Prospect, three diamond drill holes, for a total of 750.2m, were completed which tested the 3km long zone of elevated pathfinder elements defined in soil sampling and mapped epithermal vein on surface. QU001 intersected the strongest silica alteration from approximately 150-270m with hematite increasing from 300 to end of hole at 350m. This suggests that the drill hole may have missed the target veins as the veins may in fact dip in an easterly direction. This presents an obvious follow up opportunity for future testing. QU002 and QU003 intercepted zones of moderate alteration with lesser epithermal veins with no significant intercepts reported. An easterly dip to the Quarry Prospect veins is supported by the lack of alteration and veins intercepted in QU002 and the intersection of a easterly dipping altered and veined zone in QU003. Surface Geochemistry: BLEG sampling program The regional stream sediment BLEG sampling program has been completed with results highlighting several new catchments along strike to the north and south of the Bauloora vein field. These are new areas not covered by any existing soils, drilling or rock chip results and therefore warrant further investigation. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 12 of 21 Figure 10. QU001 cross section (MGA94z55 6177903mN) showing solid geology interpretation. Figure 11, Bauloora Project overview showing BLEG sampling locations and anomalous drainage areas warranting follow up work. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 13 of 21 Soil and rock chip sampling program The southern extension to the soil sampling program has been completed with 2,002 soil samples collected across 7.5km2 at 50m x 100m spacing. The soil sampling dataset that was collected in the northern portion of the vein field has been critical in the targeting strategy at the Bauloora Project. The addition of the southern extension will greatly expand and continue this effective strategy. Figure 12. Bauloora Project map with recently completed soil samples and petrology rock chip sample (blue triangle) confirming sinter related lithology SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 14 of 21 Fontenoy Project Phase 2 Drilling Program Earth AI completed three diamond-cored holes for a total 1,255.6 metres earlier this year. These holes were drilled at the Fontenoy Project to test the interpretation of a mafic intrusive complex with the potential to host magmatic related PGE and nickel-copper sulphide related mineralisation. Initial observations appear to be consistent with previous drilling in the assay data indicate PGE mineralisation is dominantly occurring within and immediately underlying a high MgO core zone (>33% MgO) and sulphide development within this lower zone. This lower zone may reflect a favourable zone for PGE development. This is encouraging as it is consistent with the general model for magmatic Ni-Cu-PGE type mineral systems such as the Norilsk deposit. Figure 13. Soil samples and completed drill holes over geology SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 15 of 21 Drill hole EFO21D intercepted a large zone of elevated PGE mineralisation targeting beneath elevated PGE soils on surface, elevated gravity high response and on the interpreted contact of the Moonbilleen Gabbro and undifferentiated serpentinites. Significant drilling intercepts in EFO21D included: • • • 374.6m at 0.1g/t 3E PGE from surface (no cut-off) Including 40m at 0.2g/t 3E PGE from 110m Including 10m at 0.3g/t 3E PGE from 355m Drill hole EFO8D was drilled to the west of drill hole EFO7D to follow potential western extensions to the significant mineralisation intercepted in that hole. Significant drilling intercepts at EFO7D included: • • 120m at 0.3g/t 3E PGE from 298m including: 10m at 1.2g/t 3E PGE from 388m. The Fontenoy Project has historically drilled with companies targeting the potential for shallow nickellaterite and Cu-Au deposits. Historical explorers had not tested the potential for PGE’s or magmaticrelated nickel-copper sulphide mineralisation. This style of deposit is rare and greatly prized for potentially higher grades and potential suite of valuable metals. Planned Future work Earth AI has recently completed a VTEM survey across the Fontenoy tenement which is a geophysical technique that is used to map the and characterize subsurface electrical conductivity. It's commonly used in mineral exploration to detect conductive bodies, such as nickel and copper sulphide deposits. The results of this surface and ongoing surface geochemical surveys will be used to guide future drilling. Current plans indicate two further holes will be drilled before the end of the year. Glenlogan Project The Glenlogan Project is in the Central Lachlan Fold Belt, NSW, which hosts world-class gold-copper orebodies including the Cadia-Ridgeway, Northparkes and Cowal Mines. The exploration tenement covers the western margin of the Siluro-Devonian Cowra trough, located in the Forbes Anticlinal Zone of the Lachlan Fold Belt. During the Quarter, the Company’s Joint Venture partner, S2 Resources (ASX: S2R), commenced diamond drill hole SGLD0002, targeting a copper-gold porphyry-style target at Glenlogan. S2 has the right to earn up to an 80% interest in the project vii. 6F This is just the second hole drilled by S2 at the Glenlogan project, and it is designed to test several coincident geophysical anomalies identified in recent surveys consistent with the signature of porphyry-style gold-copper mineralisation (refer to S2 ASX announcements of 17 February 2025 and 12 March 2025). The chargeability, resistivity and conductivity anomalies appear to be located on the edge of a larger intrusion identified in S2’s first hole, SGLD0001W1, drilled last year, in which alteration and anomalism of key pathfinder elements including gold, copper, bismuth, arsenic and tellurium, was observed to be increasing toward the end of the hole described in the Company’s previous ASX announcements of 18 July 2024, 3 September 2024 and 28 October 2024. Exploration Activities on other Projects No exploration was reported for the remaining Legacy Minerals projects in this quarter. SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB ASX: LGM Page 16 of 21 Corporate Capital Raising Legacy Minerals raised A$7.75 million during the Quarter through a share placement to professional and sophisticated investors at an issue price of $0.18 per share, with 31.1 million ordinary fully paid shares (New Shares) issued and 12.0 million New Shares agreed to be issued. The Placement comprised two tranches. Tranche 1 Shares (31.1 million) were issued under the capacity of Listing Rules 7.1 and 7.1A. Tranche 2 Shares (12.0 million) and all the attaching options (Tranche 1 and Tranche 2) are subject to approval by shareholders at a general meeting scheduled for 30 July 2025. Participants in the Placement will receive an aggregate of 21.5 million attaching options issued for no additional consideration on the basis of 1 new option for 2 New Shares. The options will be exercisable at $0.30 on or before the date that is two years from the date of issue (New Options). Cumulus Wealth Pty Ltd and Bell Potter Securities Limited (together, the Joint Lead Managers) acted as Joint Lead Managers to the Placement. The Joint Lead Managers will receive a cash fee equal to 6% (plus GST) of the funds raised under the Placement and an aggregate of 7,750,000 unquoted options exercisable at $0.27 on or before the date that is three years from the date of issue (Broker Options) as partial consideration for lead manager services provided with respect to the Placement. Earn-in Joint Venture Agreement Over the Harden Project Hilltops Gold (Hilltops) has signed an Earn-In Joint Venture (JV) Agreement to earn an 80% interest in Legacy Minerals’ 100% owned Harden Gold Project by spending $0.8M over four years. The JV will include a minimum of 1.5km of drilling across the Project and the definition of a JORC Compliant Mineral Resource by the end of the second earn-in period. In consideration for entering into JV, Legacy Minerals will hold a 5% interest in Hilltops, a privately owned company with plans to establish a gold processing hub in central NSW. In addition to the Harden JV, Hilltops also owns the Kinzan Gold Project in Grenfell NSW, providing Legacy exposure to additional discovery and near-term gold development opportunities. Drilling is underway at Kinzan, with seven reverse circulation and three diamond holes to be completed soon. Drilling is planned to commence at the Harden JV in the September quarter. Finance At the end of the quarter, the Company had $5.4M cash at bank. ASX Additional Information ASX Listing Rule 5.3.1: Exploration & Evaluation Expenditure during the Ju