LEGEND MINING LIMITED                         2002-05-07  ASX-SIGNAL-G

HOMEX - Perth                                                         

+++++++++++++++++++++++++
LEGEND MINING LIMITED [33(1/3)%] (LEGEND) EAST COAST MINERALS NL
[66(2/3)%](ECM)

The New Joint Venture agreement entered into on the 11th June 2001
required Legend to pay $500,000 into the Joint Venture working
account and pay ECM $750,000 on or before the 11th August 2001.
Legend complied with that arrangement earning Legend 33(1/3)% Of the
New Joint Venture. Legend had the further right to increase its
interest in the New Joint Venture to 50% by paying the sum of
$500,000 to the Joint Venture working account or pay ECM $250,000 on
the 30th April 2002 with a further $750,000 to ECM on the 11th
August 2002.

The payment of $500,000 on the 30th April 2002 has been extended by
agreement with ECM to the 11th August 2002 on the condition that
Legend sole fund in the sum of $120,000 the mid-May 2002 drilling
program that is designed to discover repetitions of previously found
and mined silver pods.

Under the new arrangement should Legend wish to increase its interest
in the New Joint Venture to 50%, Legend need only now pay $380,000 to
the Joint Venture working account or $190,000 to ECM with the final
payment to ECM of $750,000 on the 11th August 2002. 

Currently Legend's interest is 33(1/3)% and it reserves its right to
increase to 50% on the 11th August 2002.

Details of the May 2002 drilling program will be released in the near
future.

M McDonald
MANAGING DIRECTOR