Legend Mining (LEG) Q1 2026 TU earnings summary

Exploration and project updates

• Geophysical IP surveys at Alpha North and Pyrophyllite Hill identified high-priority chargeable-resistive features, interpreted as sulphides at depth, enhancing gold prospectivity at both prospects.

• Alpha North surveys revealed coincident chargeable and resistive features over a 700m strike, aligned with anomalous geochemistry, quartz veining, historic gold workings, and significant regional shears.

• Pyrophyllite Hill surveys delineated a NW-SE trending, 600m chargeable-resistive feature within a large pyrophyllite alteration zone, consistent with regional mineralisation structures.

• Drill approval processes are underway for both prospects, with drilling expected to commence in July 2026.

Geochemical and structural findings

• Systematic rockchip sampling at Alpha North returned 35 samples >0.1g/t Au, including 10 >1.0g/t Au, with high-grade historic samples up to 91.9g/t Au, confirming strong gold anomalism.

• Multiple quartz vein orientations and structural controls suggest significant fluid pathways and deformation, critical for gold mineralisation potential.

• At Pyrophyllite Hill, UFF soil sampling defined the Pyr1 anomaly with a strong hydrothermal signature, coinciding with the geophysical feature and pyrophyllite outcrop.

• Rockchip assays confirmed pyrophyllite content (10–38 wt%) and hydrothermal origin, linked to regional faulting and possible intrusive sources.

Financial and corporate status

• Cash balance at 31 March 2026 was $10.2M, bolstered by an $811K R&D refund received in February 2026.

• Exploration and evaluation expenditure for the quarter was $676,000, with no substantive mining production or development activities.

• Payments to related parties totaled $144,000, relating to directors' fees and salaries.

• Estimated quarters of funding available is over 80, indicating strong financial stability for ongoing exploration.