Marquee Resources Limited announced the maiden Mineral Resource Estimate for the Lone Star Copper-Gold Project, Washington State, USA ("Lone Star" or "The Project"). The Mineral Resource is reported inside a conceptual pit shell at an internal cut-off grade of 0.112% copper equivalent. Based on these criteria, the Lone Star deposit contains an Indicated Mineral Resource of 9.7 Mt at 0.45% copper and 0.24 g/t gold and an Inferred Mineral Resource of 3.5 Mt at 0.31% copper and 0.20 g/t gold.

Mining Plus Pty Ltd. (Mining Plus) was requested by Marquee Resources Ltd. (Marquee) to prepare an independent Mineral Resource Estimate for the Lone Star Copper-Gold Project in Washington State, USA. The Mineral Resource Estimate is stated in accordance with the provisions of the JORC Code (2012). The Competent Person is Mr. Brian Hartman, P.Geo., owner and Principal Geologist of Ridge Geoscience, LLC as a subcontractor to Mining Plus.

Mr. Hartman has more than 5 years' experience in the estimation and reporting of Mineral Resources for gold and base metals mineralisation throughout the USA and internationally. The Lone Star Mineral Resource estimate was completed using Leapfrog Geo version 2021.2.4 software in UTM coordinates. The block model was constrained by interpreted three-dimensional wireframes of the lithologies and mineralised horizons.

Copper and gold were estimated into blocks using Inverse Distance Weighting Squared interpolation. The Mineral Resource is reported inside of a conceptual pit shell at an internal cutoff grade of 0.112% copper equivalent. Based on these criteria, the Lone Star deposit contains an Indicated Mineral Resource of 9.7 Mt at 0.45% copper and 0.24 g/t gold and an Inferred Mineral Resource of 3.5 Mt at 0.31% copper and 0.20 g/t gold.

A total of 60 drill holes were included in the modern Lone Star database, of which 13 were drilled in 2006 and 47 were drilled in 2021-2022. Two holes drilled in 2006 encountered drilling problems and were subsequently twinned. The two original holes were not used in the resource estimate.

All 58 remaining drill holes used in the resource estimate are diamond drill holes, with a total combined length of approximately 8,880 m. Assays are available from 56 of the 58 drill holes. Two short drill holes in the north-western part of the deposit were unmineralized and not sampled. Unsampled portions of all holes were assumed to be barren, and both copper and gold grades are set to zero.

An additional 239 holes were drilled on the property between 1908 and 1990. These historic drill holes were not used in the mineral resource estimate because after investigating them, it was concluded they lack proper data verification and validation demanded by modern industry standards. Stratigraphy is vertically offset in several areas, most prominently by an arcuate fault or caldera collapse feature that down dropped the south-eastern portion of the deposit relative to the northern area (Figure 1).

This down-dropped area contains the thickest package of mineralisation intersected to date. It appears that the northern and western area of mineralisation has largely been eroded away. Smaller magnitude offsets are observed in the northern part of the deposit.

The offsets have resulted in the geological model being broken into five separate structural zones (Figure 2). Logged lithologies were used to interpret three- dimensional wireframe solids for each of the groups above within each structural zone, except for the scattered tertiary dikes. The main mineralized zones are hosted in a package of dominantly rhyolite with lesser serpentinite, that gently dips towards the southeast at 20-25 degrees.

These two lithologies were ultimately grouped together for the purposes of resource estimation after analysis of grade distributions revealed no material differences in grade occurrence or intensities within either lithology. Copper and gold assay statistics, histograms, and log probability plots were reviewed. A low-grade copper zone was defined as >0.18% Cu, with an internal high-grade zone defined as >1.0% Cu.

A low-grade gold zone was defined as 0.05 g/t Au with an internal high-grade zone defined as >1.0 g/t Au. These grade shells were generated using 2 m composites within the mineralised rhyolite/serpentinite package, an indicator RBF interpolant values above or below the cutoff, and a probability of 50%. The resultant shapes were manually adjusted as needed to better fit the interpretation.

The process was repeated for each structural zone using a unique search orientation for each area. All grade zone solids and eventual grade estimates were clipped to the rhyolite/serpentinite package and overburden surfaces. Two representative sections showing the copper grade domains are shown in Figure 3 and Figure 4 below.

SG measurements from 2006 drilling were used to generate a weak correlation with copper grade. This correlation was used to calculate an average SG for waste (2.74), low-grade (2.80), and high-grade (3.05) zones. An SG of 1.9 was assumed for unconsolidated overburden.

The SG values are considered reasonable for this level of study, but more work needs to be completed to better understand the variability in densities to more accurately understand the variability in ore and waste tonnes.