Quarterly Activities/Appendix 5B Cash Flow Report
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Announcement PDF
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See Endnotes on Page 16 for references
Refer to Disclaimer on Page 14
September 2026 Quarterly Report
Significant increase in Mt Carrington Resource; larger Scoping Study well advanced
MT CARRINGTON PROJECT DEVELOPMENT
• Open-pit Mineral Resource Estimate (MRE) for the Mt Carrington Project increased to 47.9Mt containingi
:
o 1.6Moz gold-equivalent (AuEq) incl. 714koz Au, 35Moz Ag, 40kt Cu, 37kt Pb and 164kt Zn.
• High-grade mineralisation component within the MRE includes:
o 493koz AuEq at 3.1g/t AuEq (cut-off >1.9g/t AuEq)ii
• New Scoping Study underway to assess a larger-scale Project based on the increased MREiii
.
• New Study will build on the May 2026 Scoping Study and will assess the scale economies of an increase in
processing plant throughput above the original 1 million tonnes per annum (Mtpa)iv
.
• The larger study is being delivered by globally recognised engineering, consulting and project delivery firm
Ausenco working together with leading global advisory firm WSP Australia, with results expected in the
December 2026 Quarterv
.
MT CARRINGTON PROJECT EXPLORATION
• Phase 1 eight-hole diamond drilling program completed at the Emu Copper-Gold Prospect, providing the first
modern drill test of the Emu Porphyry Core and Emu Alteration Halo SE targetsvi
.
• Emu core has been logged and samples submitted to the laboratory, with assays awaited.
• Initial 10-hole, Phase 2 diamond drilling program commenced at the Mascotte Silver-Gold Prospectvii
.
• Phase 2 steps out from the maiden Phase 1 program, targeting extensions of intercepts including 40m at 1.0g/t
Au and a historical intercept of 18.3m at 237g/t Agviii
.
• First-ever Dipole-Dipole Induced Polarisation (DDIP) ground geophysical survey completed over the Mascotte
and Battery Prospectsix
.
• DDIP results defined a northeast-trending resistive corridor flanked by several strong chargeability anomalies
interpreted to reflect sulphide-bearing structures/breccias along these resistive marginsx
.
GENERATIVE PROJECTS
• WSP Australia engaged to complete an updated MRE for the NiCo Young Nickel-Cobalt-Scandium (Ni-Co-Sc)
Project in central NSWxi
.
• For the first time, the updated MRE will assess the potential to estimate and report scandium.
• Three untested Induced Polarisation (IP) chargeability targets defined at the Rockley Project’s Crystal Hill
prospect measuring up to 45mV/V, including a priority 800m-long target coincident with surface copper-gold-
silver anomalismxii
.
CORPORATE
• ~$408,000 R&D Tax Incentive refund received from the Australian Government xiii
.
• Cash balance at 30 September 2026 of $3.5 million.
• Acquisition of the second of two key freehold properties at Mt Carrington has now been completed, bringing
total freehold property purchases to $875,000.
• One property contains part of the silver-rich Lady Hampden deposit, and the other contains the new Mascotte
Discovery.
ASX Announcement
30 October 2026 ASX: LGM
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Management Comment Legacy Minerals CEO and Managing Director, Christopher Byrne, said:
“The September Quarter has been an important period for Legacy Minerals, with the delivery of an
updated Mineral Resource Estimate for our flagship Mt Carrington Project providing the opportunity to
evaluate a larger-scale Project with enhanced economies of scale.
The updated Resource totals 1.6 million ounces of contained gold-equivalent metal, with Resource tonnes
increased by 39%, silver ounces by 44%, and Indicated Resources up by 69% to 19.3Mt.
On the back of the update, Legacy Minerals is now well underway with completing an a larger Scoping
Study for Mt Carrington to investigate the merits of increasing plant throughput beyond the original one
million tonnes per annum envisaged in the May 2026 Study.
We see strong potential to significantly enhance the outcomes of the existing Scoping Study, with the
outcomes of the larger study expected to be announced in the December 2026 Quarter.
On the exploration front, we completed our initial drilling campaign at the Emu prospect at Mt
Carrington, which provided our first modern drill test of two high-priority regional targets, as well as
commencing Phase 2 drilling at Mascotte. Assays from both programs were awaited at Quarter-end.
Elsewhere, we have engaged WSP Australia to complete an updated Mineral Resource Estimate for our
NiCo Young Project in central NSW that will seek to include scandium alongside nickel and cobalt within
the Resource, as well as identifying three untested copper-gold targets at our Rockley Project.
All of these work programs position Legacy for a very active end to 2026, with plenty of news flow ahead
for shareholders.”
Mt Carrington Project
The Mt Carrington 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, Mt Carlton gold mine, Mt Rawdon gold mine
and the Mt Carrington Mine.
Mineral Resource Update
During the Quarter, Legacy announced a significant upgrade to the Mineral Resource Estimate (MRE)
for the Mt Carrington Projectxiv
, with the updated MRE comprising 47.9 million tonnes grading 1.0g/t
AuEq for 1.6 million ounces of contained gold equivalent metal (714koz Au, 35Moz Ag, 164kt Zn, 40kt
Cu and 37kt Pb). This includes a high-grade component of 493koz AuEq grading 3.1g/t AuEq (cut-off
>1.9g/t AuEq). The updated MRE is summarised by deposit group in Table 1, and Resource growth
since 2022 is shown in Table 2.
Table 1. Mineral Resource Estimate by deposit group, Mt Carrington Project
Deposit group
Tonnes
(Mt)
AuEq Grade
(g/t)
Contained
Gold (koz)
Contained
Silver (Moz)
Contained
Zn|Cu|Pb (kt)
Contained
AuEq (koz)
Gold-rich deposits 28.8 0.92g/t 565.9 3.8 122|38|21 856
Silver-rich deposits 19.1 1.16g/t 148.6 31.2 42|2|16 714
Total Mineral Resource 47.9 1.0g/t AuEq 714koz Au 35Moz Ag 164|40|37 1.6Moz AuEq
Including high-grade
mineralisation
493koz AuEq at 3.1g/t AuEq (cut-off >1.9g/t AuEq) [5.03 Mt]
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Total Mineral Resource comprises Indicated + Inferred categories
xv
. Rounding may cause apparent discrepancies.
Table 2. Resource growth since 2022, Mt Carrington Project
Project total
JORC 2004/2012
(ASX:WRM, TMZ)
2025 (Mining
Plus)
2026 (WSP) Change vs 2025
Change since
acquisition
Tonnes (kt) 19,140 34,396 47,949 +39% +151%
Gold (koz Au) 341.0 652.5 714.3 +9% +109%
Silver (koz Ag) 23,247 24,294 34,991 +44% +51%
Indicated Resources have increased by 69% since the 2025 MRE, with the updated MRE now totalling
19.3Mt Indicated (40%), materially improving Resource confidence and providing a stronger
foundation for optimisation of the May 2026 Scoping Study.
Importantly, all deposits present significant opportunities to further grow the Resource base,
remaining open along strike and at depth.
Full details of the MRE update were provided in the Company’s ASX Announcementxiv
.
Larger Scoping Study
Following the release of the updated Mineral Resource Estimate on 30 July 2026, the Company
engaged globally recognised engineering, consulting and project delivery firm Ausenco Services Pty
Ltd (Ausenco) and leading global advisory firm WSP Australia Pty Limited (WSP) to work together to
deliver the Larger Scoping Study for the Mt Carrington Projectxvi
.
The Study will update the following key inputs relative to the May 2026 Scoping Studyxvii
:
• the updated MRE, including a 69% increase in Indicated Resources to 19.3Mt;
• plant throughput, assessing options above the 1Mtpa base case;
• metal prices and concentrate payabilities;
• processing costs and plant ramp-up assumptions; and
• capital and operating cost estimates and financial metrics.
Mine optimisation and mine scheduling work is underway with WSP, incorporating the updated MRE.
Process engineering, cost estimating and financial modelling will be undertaken by Ausenco.
The processing strategy is unchanged, with batch flotation of gold-dominant and silver-dominant
deposits followed by concentrate blending to produce a saleable precious metal concentrate.
The final product and marketing strategy also remain unchanged from the May 2026 Scoping Study.
The Larger Study is expected to be completed in the December 2026 Quarter.
Emu Prospect: Phase 1 Drilling Program
Legacy completed a Phase 1 eight-hole diamond drilling program at the Emu Copper-Gold Prospectxviii
during the Quarter.
The Emu Prospect is a priority regional target identified as a discrete porphyry-epithermal target
through the integration of historical geological mapping, surface sampling and recent airborne Mobile
Magnetotelluric (MT) geophysics.
The Emu target area contains the historical Emu Creek copper mine, originally worked as a shaft before
an open cut was operated between 1966 and 1971.
The completed program comprised eight diamond drillholes for a total of 1,600m across five drill pad
sites. It provided the first modern drill test of the two targets defined by the airborne Mobile MT
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survey: the Emu Porphyry Core, a deep, low-resistivity feature interpreted as a potential porphyry-
style intrusive body; and the Emu Alteration Halo SE, a shallow zone of elevated resistivity interpreted
as a silicified alteration halo.
Copper is the primary target at Emu, where copper was mined historically. Core has been logged and
samples have been submitted to the laboratory, with results awaited at Quarter-end. Further follow-
up drilling is planned.
Figure 1. Plan view of the Emu Copper-Gold Prospect showing drilling over soil geochemistry (Ag ppm)
Mascotte Silver-Gold Prospect: Phase 2 Drilling
A ten-hole Phase 2 diamond-cored drilling program commenced at the Mascotte prospect during the
Quarterxix
.
The Mascotte Prospect is located approximately 3.5km south-east of the village of Drake within
EL6273 and is defined by an area of significant historical workings, with the primary mineralised trend
interpreted over approximately 1.3km of strike. The Phase 2 program will comprise an initial ten
diamond-cored drillholes for a total of approximately 2,000m. Additional drill pads have been
approved, providing flexibility to extend the program if warranted.
Phase 2 steps out from the maiden Phase 1 program and is designed to test the structural and depth
extensions of the Mascotte mineralised system, which remains open along strike and at depth. The
program targets extensions of previously reported intercepts, including 40m at 1.0g/t Au from 151m,
including 9m at 2.7g/t Au from 180m (MSDD001) and 18.3m at 237g/t Ag from 3m, including 9.1m at
394g/t Ag (PDMS005A).xx
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Figure 2. Section view of the Mascotte Silver-Gold Prospect - MSDD001 drill hole showing completed and
planned drill holes.
Induced Polarisation (IP) Geophysics Survey
Fender Geophysics undertook induced polarisation (IP) surveys at the Mascotte Prospect during the
Quarterxxi
, with data processing and 2D and 3D inversion modelling completed by Mitre Geophysics.
The Mascotte survey comprised both Gradient Array IP (GAIP) and Dipole-Dipole IP (DDIP)
configurations.
The GAIP resistivity data defined a southwest-to-northeast-trending resistivity high (approximately
2,000 Ωm) through the middle of the survey area, with the historic Mascotte mine located on the
southern edge of this resistive zone. The higher resistivity may reflect a lithological change or
increased silicification.
The GAIP chargeability data mapped several southwest-to-northeast-trending chargeability highs
(>15mV/V) located primarily along the northern and southern margins of the resistive zone. The
transition from the resistive corridor to less resistive rocks (~200 Ωm) along these margins may
indicate structures or fluid pathways, with the elevated chargeability interpreted to reflect sulphide
alteration along those structures.
The DDIP results agree closely with the GAIP, with the chargeability highs mapped in the GAIP also
imaged in the DDIP inversion sections.
Two main chargeability zones were modelled on Lines 10700E and 10500E. The northern zone, centred
at approximately 21200N, is the largest and strongest, with an amplitude exceeding 30mV/V in the 2D
inversion model and a core at approximately 100 to 120m depth. The southern zone, at approximately
20900N, is also very strong at up to 30mV/V, but is smaller and shallower, with a core at approximately
60 to 80m depth. Both zones remain open to the northeast and continue to the southwest onto Line
10500E. Three-dimensional inversion of the DDIP lines confirms the continuity of these chargeability
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zones between lines.
Figure 3. Oblique 3D view (looking northeast) of the Mascotte DDIP 2D inverted chargeability sections with
3D chargeability iso-shells (26mV/V and higher). Drill holes shown are the 2025-2026 LGM drilling.
The IP surveys have identified a northeast-trending resistive corridor flanked by several strong
chargeability anomalies interpreted to reflect sulphide-bearing structures along the margins of the
resistive zone. These anomalies are spatially associated with and extend beyond the known gold-silver
mineralisation at Mascotte.
Previous drilling returned intercepts including 40m at 1.0g/t Au from 151m (including 9m at 2.7g/t Au)
in MSDD001 and 57m at 0.3g/t Au from 81m (uncut) (including 8m at 1.3g/t Au from 129m) in
MSDD002. Comparison against previous drilling results indicates that none of the chargeability highs
defined by the IP inversion models were drill tested. The strongest Mascotte chargeability anomalies,
which exceed 30mV/V, therefore represent high-priority, untested targets for sulphide-hosted gold
and silver mineralisation.
Notably, several of the strongest chargeability targets do not appear to reach the surface and are
interpreted to be “blind”. Targets of this kind cannot be found by surface rock sampling and can be
easily overlooked, which is part of why they remain untested. Finding blind targets typically requires
geophysics of this kind followed by drilling.
The chargeability targets defined by the GAIP and DDIP surveys will be drill tested as part of the
Company’s approved drilling program at Mascotte where drilling is currently underway. Drilling will
aim to test the strongest, untested chargeability zones for sulphide-related and sulphide-hosted gold-
silver mineralisation and to extend the known Mascotte mineralisation along strike and at depth.
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Figure 4. Mascotte historic drill results and soil sample contours (Ag ppm) over GAIP chargeability.
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NiCo Young Project
WSP Australia Pty Limited (WSP) has been engaged to complete an updated Mineral Resource
Estimate (MRE) for the Company’s 100%-owned NiCo Young Nickel-Cobalt-Scandium (Ni-Co-Sc)
Project in central New South Wales (NSW).xxii
The updated MRE will include nickel and cobalt and, for the first time, will incorporate discrete, near-
surface scandium domains which will be reported in accordance with the JORC Code 2012, producing
a single combined Ni-Co-Sc Mineral Resource.
The work program comprises compilation and validation of the historical scandium assay data and
drillhole database, geological, weathering and scandium domaining, grade estimation and
classification, and the derivation of updated cut-off grades and reasonable prospects for eventual
economic extraction parameters.
The current Inferred Mineral Resource, which reports nickel and cobalt onlyxxiii
, is summarised in Table
3 below and remains current until the updated MRE is reported.
Table 3. NiCo Young current Inferred Mineral Resource.xxiv
Cut-off Tonnes (Mt) Ni (%) Co (%) Contained Ni (kt) Contained Co (kt)
0.6% NiEq 167.8 0.59 0.06 996.7 96.6
1.0% NiEq 42.5 0.80 0.09 338.8 38.0
The Company expects to report the updated combined Ni-Co-Sc Mineral Resource Estimate in October
2026.
Rockley Project
During the Quarter, an Induced Polarisation (IP) survey was completed over the Crystal Hill Prospect
at Legacy’s 100%-owned Rockley Projectxxv
, 25km west of Oberon in NSW.
Two-dimensional (2D) and three-dimensional (3D) inversion modelling of the survey data has defined
three discrete zones of elevated chargeability (Table 4). The most significant of these is a north-north-
west trending zone of approximately 800m strike extent that is coincident with the Crystal Hill soil
geochemistry anomaly. None of the three zones has been drill tested.
Table 4. Summary of the modelled chargeability targets defined by the 2026 Rockley IP survey. Positions are
given in the local survey grid. Depths are modelled depths below surface and are not true widths of
mineralisation.
Target Survey
line(s)
Local grid
position
Modelled
depth
Peak modelled
chargeability
Comment
North-West 21950N 10800E ~200m >40mV/V Discrete zone at the western end of
the northernmost line.
Central 20600N,
21050N,
21500N
11200E to
11800E
~100m to
200m
45mV/V+ NNW trending, ~800m strike extent,
coincident with the soil geochemistry
anomaly. Highest priority target.
East 21050N 12200E ~200m 35mV/V Hosted within a resistive zone, unlike
the other two targets.
Chargeability in millivolts per volt (mV/V) measures the ability of the ground to hold an electrical
charge and can be elevated in response to disseminated sulphide minerals, alteration, graphite, clay
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or other lithological variation.
North-West target: a strong chargeability anomaly of more than 40mV/V centred at approximately
200m depth at 10800E on Line 21950N, where the resistivity model also shows a change from resistive
in the west to conductive in the east that is interpreted to reflect the schist and metabasalt contact
mapped in the regional geology.
Central target: a north-north-west trending linear zone of approximately 800m strike extent defined
across Lines 21500N, 21050N and 20600N, with modelled chargeability of up to 45mV/V from
approximately 100m depth. The zone is coincident with the Crystal Hill soil geochemistry anomaly and
is considered the most prospective target defined by the survey.
East target: a 35mV/V chargeable zone at 12200E on Line 21050N at approximately 200m depth. This
target is distinguished from the other two by sitting within a resistive rather than a conductive zone.
The Company is integrating the 2D and 3D inversion models with its geological mapping, structural
interpretation, soil and rock chip geochemistry to refine and prioritise the three targets for drill
testing. Drill testing of the three chargeability anomalies is under consideration and remains subject
to drill planning, landholder access, statutory approvals and funding.
Figure 5. Perspective view from the south-east showing the 2D inverted chargeability sections and the 3D
inverted chargeability iso-shells (30, 40, 50 and 60mV/V). Coloured points are soil geochemistry, coloured
and sized by antimony (Sb). The North-West, Central and East targets are shown from left to right.
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Figure 6. The Crystal Hill magnetic low target area
(white dashed line) with 3D inverted chargeability
iso-shells over highlight rock chip assays, historic
workings and geology.xxvi
Figure 7. The Crystal Hill magnetic low target area
(white dashed line) with 3D inverted chargeability
iso-shells (>35mV/V) over highlight rock chip
assays, historic workings and geology.xxvi
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Cobar Project
During the Quarter, Aurelia Metals Limited (ASX: AMI) began planning exploration on the Company’s
Cobar Project tenements (“LGM Earn In Tenements”) in its Cobar Basin exploration portfolio (Figure
8). Aurelia has advised that it intends to fly a FALCON airborne gravity survey over the earn-in
tenements, to be followed by geological mapping and regional soil sampling.xxvii
Figure 8. Aurelia Metals Cobar Basin tenement map showing the LGM Earn In Tenements (green) to the west
of Aurelia’s tenements and the Rookery Fault.xxviii
Exploration Activities on other Projects
Other than the Cobar Project, Legacy Minerals reported no exploration for the remaining Legacy
Minerals projects during the Quarter.
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Corporate
R&D Tax Incentive Refund
Legacy Minerals received a research and development (R&D) tax incentive refund of $408,434.12 from
the Australian Taxation Office (ATO) during the Quarterxxix
in respect of eligible R&D activities
undertaken during the financial year ended 30 June 2025 (FY2025). The refund represents non-dilutive
funding that further strengthens the Company’s cash position.
Proceeds will be directed towards advancing the Company’s flagship Mt Carrington Project and for
general working capital.
Freehold Property Acquisitions
During the Quarter, the Company completed the purchase of a freehold property at Patemans Road,
Drake, for $415,000, following the purchase of a freehold property at Cheviot Hills Road, Drake, for
$460,000 which settled in February 2026. The two properties were acquired for a combined $875,000,
excluding stamp duty and transaction costs, and are held through the Company’s wholly owned
subsidiary Greenpath Minerals Pty Ltd.
One property contains part of the silver-rich Lady Hampden deposit and the other contains the new
Mascotte Discovery. Ownership of the land secures surface access for ongoing exploration and for the
future development of the Mt Carrington Project. Payments for the acquisitions are reported under
property, plant and equipment in the accompanying Appendix 5B.
Finance
At the end of the Quarter, the Company had $3.5M cash at bank.
ASX Additional Information
Exploration and evaluation expenditures and licence fees during the Quarter totalled $1,933,000. This
included $1,101,000 for drilling and drilling ancillary costs, $326,000 for geophysical programs,
$22,000 for geochemistry programs, $25,000 for land access and compensation, $60,000 for licence
fees, and $399,000 for other costs, including ancillary costs, salaries, and subcontractors. Full details
of exploration activity during the Quarter are set out in this Report.
There were no substantive mining production and development activities during the Quarter.
Payments to related parties of the Company and their associates during the Quarter totalled $224,136,
for salaries, superannuation, directors’ fees and rent.
ASX Announcements
• 1 July 2026 New Mineral Resource Estimate Underway - Mt Carrington
• 8 July 2026 R&D Tax Refund Received - funds to Support Mt Carrington
• 28 July 2026 Drilling and Resource Update - Mt Carrington
• 30 July 2026 Mt Carrington Resource grows to 1.6Moz Gold-Eq.
• 11 August 2026 New Survey defines Large and Untested Gold-Silver Target
• 7 September 2026 Optimised Scoping Study Progressing Well at Mt Carrington
• 17 September 2026 New Scandium Resource Underway at NiCo Young NSW
• 22 September 2026 Three Untested Copper-Gold Targets Defined at Rockley
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Tenement Register
Table 5. Tenement schedule at 30 September 2026.
Tenement Tenement
Number
Status Interest at Start of
Quarter
Interest at End of
Quarter
Harden EL9657 Live 100%, earn-in with
Hilltops Gold
100%; Hilltops
Gold earned 51% post
quarter
Bauloora EL8994 Live 100% 100%
Bauloora EL9464 Live 100% 100%
Black
Range
EL9466 Live 100% 100%
Black
Range
EL9589 Live 100% 100%
Cobar EL9511 Live 100%; earn-in with
Aurelia Metals (Peak
Gold Mines Pty Ltd)
100%; earn-in with Aurelia
Metals (Peak Gold Mines
Pty Ltd)
Glenlogan EL9614 Live 100% 100%; transfer
completed, post quarter
Drake EL6273 Live 100% 100%
Drake EL9616 Live 100% 100%
Drake EL9727 Live 100% 100%
Drake ALA75 Application None, subject to
approval
None, subject to approval
Fontenoy EL8995 Live 49%, Joint Venture with
Earth AI
49%; Joint Venture with
Earth AI
Fontenoy EL9658 Live 100% 100%
Thomson EL9728 Live 100% 100%
Thomson EL9194 Live 100% 100%
Thomson EL9190 Live 100% 100%
Rockley EL8926 Live 100% 100%
NiCo Young EL9804 Live 100%, MoU with Cobalt
Blue
100%; MoU with Cobalt
Blue
Mt Terrible EL9795 Live 100% 100%
Cobar
North
EL9857 Live 100% 100%
Cobar
South
EL9858 Live 100%, earn-in with
Aurelia Metals (Peak
Gold Mines Pty Ltd)
100%, earn-in with Aurelia
Metals (Peak Gold Mines
Pty Ltd)
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Approved by the Board of Legacy Minerals Holdings Limited
For more information:
Investors:
Chris Byrne
CEO & Managing Director
chris.byrne@legacyminerals.com.au
+61 (0) 499 527 547
Media:
Nicholas Read
Read Corporate
nicholas@readcorporate.com.au
+61 (0) 419 929 046
DISCLAIMER AND PREVIOUSLY REPORTED INFORMATION
Information in this announcement is extracted from reports lodged as market announcements referred to
above and in the Endnotes, and available on the Company’s website https://legacyminerals.com.au/ and
on the Company’s Investor Hub. The Company confirms that it is not aware of any new information or data
that materially affects the information included in the original market announcements and, in the case of
estimates of Mineral Resources and the production target and forecast financial information derived from
the May 2026 Scoping Study, that all material assumptions and technical parameters underpinning the
estimates in the relevant market announcements continue to apply and have not materially changed. The
Company confirms that the form and context in which the Competent Persons’ findings are presented have
not been materially modified from the original market announcements.
This announcement contains certain forward-looking statements, including statements regarding the
timing and outcomes of the Larger Scoping Study and the updated NiCo Young Mineral Resource Estimate,
pending assay results, the interpretation of induced polarisation survey results and the nature, scope and
timing of further exploration. Forward-looking statements are only predictions and are subject to risks,
uncertainties and assumptions which are outside of the control of Legacy Minerals Holdings Limited (LGM).
These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and
financial market conditions, environmental risks and legislative, fiscal or regulatory developments, political
risks, project delay, approvals and cost estimates. The chargeability anomalies reported in this
announcement are geophysical responses that have not been drill tested, and there is no certainty that
they reflect mineralisation or that any mineralisation will be discovered. Actual values, results or events
may be materially different to those contained in this announcement. Given these uncertainties, readers
are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this
announcement reflect the views of LGM only at the date of this announcement. Subject to any continuing
obligations under applicable laws and ASX Listing Rules, LGM does not undertake any obligation to update
or revise any information or any of the forward-looking statements in this announcement to reflect
changes in events, conditions or circumstances on which any forward-looking statement is based.
COMPETENT PERSON’S STATEMENT
The information in this announcement that relates to Exploration Targets, Exploration Results, Mineral
Resources or Ore Reserves across the broader Legacy Minerals portfolio is based on information compiled
by Thomas Wall, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr Wall
is the Technical Director and a full-time employee of Legacy Minerals Pty Limited, the Company’s wholly-
owned subsidiary, and a shareholder of the Company. Mr Wall 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 Wall consents to the inclusion of the matters
based on this information in the form and context in which it appears in this announcement. The
information in this announcement that relates to the Mineral Resource Estimate for the Mt Carrington
Project is extracted from the ASX announcement dated 30 July 2026 and is based on, and fairly represents,
information and supporting documentation compiled by Kate Kitchen, a Competent Person who is a
Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute
of Geoscientists. Kate Kitchen is an independent consultant employed full time by WSP Australia Pty
Limited.
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About Legacy Minerals
Legacy Minerals is an ASX-listed public company that has been exploring gold, silver, copper, nickel and base-
metal projects in NSW since 2017. The Company’s projects present significant discovery opportunities for
shareholders, with a focus on discovery drilling and the development of the Mt Carrington Project, alongside the
100%-owned NiCo Young Nickel-Cobalt-Scandium Project (Figure 9).
Cu-Au Mt Carrington (EL6273, EL9616, EL9727, ALA75)
Large caldera (~150km2
) with
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