Marquee Resources : MASSIVE SULPHIDES INTERSECTED IN FIRST 10 DRILL HOLES

01 February 2022ASX RELEASE

only		MASSIVE SULPHIDES INTERSECTED IN FIRST 10 DRILL HOLES
	∙ Fourteen (14) drillholes now complete at Lone Star Copper Gold project.
		∙ The first ten (10) drillholes have been fully logged and processed with all 10 holes
		intersecting visible chalcopyrite-pyrite mineralisation.
use	∙ First two diamond drill holes intersected wide zones of high-grade copper mineralisation (up
to 18.5% Cu) with significant elevated gold (up to 10.4g/t Au) and silver (up to 106 g/t Ag)
values also received.
∙ A total of ~460 meters of sulphides were visually logged over the eight (8) drill holes that are
currently pending assay results.
∙ Impressively, multiple zones (more than two) of visual massive sulphides were intersected in
		holes Drill Hole LS21-010and LS21-011.
		∙ With the strong encouragement of the core visuals, the company is pushing drill hole depths
		well beyond the historical drill depths.
		∙ The second batch of assay results are due in early-February and the third batch has now
		arrived at the laboratory.
		∙ The fourty-two drill holes for ~6,000m of diamond drilling will be completed at the Lone Star
		Copper-Gold Project (Figure 4) which is expected to be completed in Q1-2022.

personalMarquee Resources Limited ("Marquee" or "the Company") (ASX:MQR) is pleased to provide an update on diamond drilling currently being undertaken on the Lone Star Copper-Gold Project, Washington State, USA ("Lone Star" or

"the Project"). The first ten drill holes (~1,840m) out of the 42-hole (~6,000m) diamond drilling campaign have been completed, logged and sent to the lab, with multiple zones of visible chalcopyrite-pyrite mineralisation being observed in all logged drill cores.

The second batch of assay results are due in early-February and the third batch has now arrived at the laboratory. For

Figure 1: Drill hole LS21-003 from 70.87m (232.5ft) - 78.94m (259ft), highlighting observed quartz veins with massive sulphides. Core blocks represent downhole depth in feet.

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Executive Chairman Comment

Marquee Executive Chairman, Mr Charles Thomas, commented: "It's exciting to continue to see visible onlychalcopyrite-pyrite mineralisation in all 10 of the logged drill holes as we rapidly progress through the drilling program. Particularly observing wide zones of sulphides in our eastern drill holes which are aimed to test the down-

dip potential of the Project."

"The drilling program is progressing at an impressive pace considering the winter conditions the crew are fighting with and every hole we drill grows our confidence in the quality of the Lone Star Project. We are also pushing drill hole depths well beyond the historical data so we're looking forward to seeing this project evolve."

"We're looking forward to the next batch of results and we continue to push for a JORC compliant resource to be usedelivered in the first half of 2022."

personalForigure 2: Drill hole LS21-011 from 104.85m (344ft) - 129.54m (425ft) highlighting zones of sulphides intersected on the eastern edge of the drilling program. Core blocks represent downhole depth in feet.

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Lone Star Diamond Drilling Program

The company plans to drill a total of fourty-two drill holes for approximately 6,000m of diamond drilling at the Lone Star Copper-Gold Project (Figure 4) which is expected to be completed in Q1-2022. The drilling program has been designed to satisfy three key objectives:

only	- Validate the historical drill hole database and resource model;
-	Deliver a JORC compliant mineral resource estimate; and
-	Test for extensions to the historical resource.

Zones of sulphide mineralisation have been intersected in all holes drilled to date with significant intervals from the first two drill holes reported to the market (refer MQR ASX Release dated 6th Jan 2022) including:

use	LS21-001
∙ 44.2m @ 1.3% Cu from 65.8m (including 19.8m @ 2.4% Cu)
∙ 22.1m	@ 1.15% Cu from 140.4m (including 8.5m @ 2.1% Cu)
LS21-002
∙ 15.54m @ 3.7% Cu & 1.8g/t Au from 48.3m (including. 2.6m @ 18.5% Cu & 10.4g/t Au)
personal	∙ 53.6m	@ 0.8% Cu from 120.7m (including 7.6m @ 2.1% Cu & 1.4g/t Au)

Drilling has been continuing around the clock and 14 drill holes have been completed for 2,385m (Table 1).

Two main zones of chalcopyrite-pyrite mineralisation are observed in drill core, a shallow rhyolite/dacite hosted Upper Zone, and a Lower Zone of mineralisation hosted on the margin of and within a serpentinite unit. Mineralised zones are composed of sheeted and stockwork pyrite-chalcopyrite veins, veinlets and disseminations.

The following estimates referring to sulphide content are based on visual estimates from geological logging and are provided as a guide only to the potential tenor of mineralisation. Assay results are required to determine the widths and grades of the visible sulphides reported in preliminary geological logging, with the next batch of laboratory results expected within 2-3 weeks. Visual estimates refer to chalcopyrite and pyrite which are copper-iron-sulphide and iron-sulphide minerals respectively. Widths and visual estimates of sulphide percentages are presented in (Table 2).

Drill Hole LS21-003

LS21-003 was collared approx. 35m south of LS21-002 and was designed to validate nearby, high-grade mineralisation intersected in drill hole IC-7 (Table 3). A total of 91.15m of variably mineralised core was observed in LS21-003 with massive quartz-sulphide veins intersected in the dacite hosted Upper Zone (Figure 1), while disseminated to locally abundant sulphides intersected in the serpentinite hosted Lower Zone.

ForDrill Hole LS21-004

Upon completion of LS21-003, the drill rig moved to the northwest pit area to begin systematically completing the rest of the exploration program. Strong, rhyolite-hosted, Upper Zone sulphide mineralisation (5-8% sulphides) was observed between 7.01-24.69m for a total of 17.68m. Mineralisation within the Lower Zone consisted of disseminated sulphides with sulphide segregations and vein sulphides locally.

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onlyuseFigure 3: Drill hole LS21-004 from 0m - 13.41m (44ft), highlighting Upper Zone mineralisation intersected. Core blocks represent downhole depth in feet. Note: significant loss from 0-25ft due to drilling through unconsolidated overburden.

Drill Hole LS21-006

personalUpper Zone mineralisation in LS21-006 has been structurally offset by post-mineralisation (Tertiary aged) dykes and structures. As such the hole was drilled predominantly within serpentinite and an approx. 37m wide zone of Lower

Zone mineralisation, with an average sulphide abundance of 3-5% and locally massive sulphides, was observed from 76.81m (Figure 4).

ForFigure 4: Drill hole LS21-006 from 103.02m (338ft) - 108.2m (355ft), highlighting Lower Zone mineralisation intersected. Core blocks represent downhole depth in feet.

Drill Hole LS21-007

Similar to LS21-006, no Upper Zone mineralisation was intersected in LS21-007 due to the structural offset of the dacite host rock. Lower Zone mineralisation was intersected between 106.68-125.58m for a total of 18.90m with an average sulphide abundance of 3-5% and local zones of massive quartz-sulphide veining (Figure 5).

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onlyuseFigure 5: Drill hole LS21-007 from 111.57m (366ft) - 117.04m (384ft), highlighting Lower Zone mineralisation intersected. Core blocks represent downhole depth in feet.

Drill Hole LS21-008

Rhyolite hosted Upper Zone mineralisation was intersected in LS21-008 from 5.49-24.69m for a total of 19.20m personalwith an overall sulphide percentage estimate of 5-6%. Sulphide mineralisation is associated with quartz-carbonate veining and fractures (Figure 6). Lower Zone mineralisation was weakly developed with trace sulphides observed.

ForFigure 6: Drill hole LS21-008 from 6.4m (21ft) - 10.97m (36ft), highlighting Lower Zone mineralisation intersected. Core blocks represent downhole depth in feet.

Drill Hole LS21-009

ine grained, disseminated, rhyolite hosted Upper Zone mineralisation was intersected in LS21-009 with an overall sulphide percentage estimate of 3-4%. Mineralisation is associated with brecciation of the host rock and quartz- carbonate veining and fractures (Figure 6). Lower Zone mineralisation was weakly developed with trace sulphides observed.

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