• Up to $25 million funding targeting Intrusion Related Copper and Gold Discoveries
• Rio Tinto can earn up to 80% interest in the Thomson Project
• Leverages Rio Tinto's expertise in IRCG deposits

Legacy Minerals Holdings Ltd (LGM) has entered into a farm-in and joint venture option agreement with Rio Tinto Exploration Pty Limited (RTX), a wholly owned subsidiary of Rio Tinto Ltd (Rio Tinto), pursuant to which RTX may earn up to an 80% joint venture (JV) interest in LGM's Thomson Project by sole funding up to $25 million of staged exploration. The Thomson Project represents a large tenement holding in one of the most unexplored geological terrains in Australia and shares similar characteristics with other major Intrusion Related Copper Gold (IRCG) districts, such as the Paterson Province in Western Australia. Extensive hydrothermal alteration and mineralisation observed in drill core at geophysical anomalies across the project support the potential of the district to host a large IRCG system. Under the agreement, RTX has the option to farm-in by funding a minimum of $400k of exploration within 6 months and making a $50k cash payment to LGM. Upon exercising the option, RTX can earn an initial 75% JV interest by sole funding $5 million of exploration within 5 years, including a minimum of 3,000m of drilling. RTX can then elect to earn an additional 5% interest (to 80%) by sole funding a further $20 million of exploration within a further 5 years, including at least 7,000m of drilling or the definition of a JORC Code compliant Mineral Resource with at least 0.5Mt of contained copper (or copper-equivalent).

The agreement with Rio Tinto has the potential to deliver a significant value accretive event for LGM's shareholders and accelerate the pace of discovery at the Thomson Project.