Marvel Gold Limited announced the results of RC drilling at the Lone Wolf Prospect (Lone Wolf) on the Tabakorole License (Tabakorole or the Project), located in southern Mali. The Tabakorole License is held under a joint venture with Altus Strategies plc, in which Marvel holds a 70% interest. During March 2022, the Company completed a 5-hole reconnaissance RC drilling program, for a total of 415m at Lone Wolf located approximately 3km south of Tabakorole in an area that was previously the subject of artisanal mining activity.

Historical drilling at Lone Wolf intersected 12m at 1.2g/t Au from surface and was followed up by Marvel with Aircore drilling which intersected 4m at 1.3g/t Au from 8m and 4m at 2.7g/t Au from 20m, ending in mineralisation. The shallow RC program was designed to test whether Lone Wolf hosts potentially economic mineralisation by drilling follow-up RC holes on sections 50m to either side of the mineralised Aircore intercept. The program successfully intersected mineralisation in 3 out of 5 holes with best intercepts recorded in hole 22TBKRC021: 8m at 1.8g/t Au from 16m and; 14m at 4.9g/t Au (including 4m at 16.3gt/t Au) from 33m; and 10m at 1.9g/t Au from 55m.

Additional notable intercepts included: 6m at 1g/t Au from 1m and 11m at 0.9g/t Au from 64m in hole 22TBKRC017; and 4m at 0.9g/t Au from 63m in hole 22TBKRC019. The initial interpretation of Lone Wolf was that mineralisation was associated with the contacts of a magnetic low unit (interpreted as a granite body) within the surrounding metasediments. Artisanal miners had initially set about mining the base of the laterite, however had transitioned to mining the in-situ mineralisation following the completion of the Company's 2021 Aircore drilling program.

Due to the artisanal workings, drillholes had to be drilled towards both the north-east and south-west to intersect the mineralisation which is believed to be sub-vertical and trending in a north-northwesterly direction based on the artisanal workings. The current RC program has shown that the mineralisation is hosted both within a unit logged as a metagreywacke (a metamorphosed mudstone) but with the best intercepts being within granitic host rocks and at or near to the contacts with the metasediments. The mineralisation in the drillholes was associated with sulphides (Pyrite and Pyrrhotite) with visual estimates up to 10% sulphides in RC chips.

This suggests that Induced Polarity (IP) would work well to define the mineralisation at Lone Wolf and this is the planned next step before further drilling is undertaken later in the current season. The Company also drilled a series of Aircore lines along strike from the Lone Wolf artisanal workings with many holes encountering anomalous gold in the range of 30-100ppb gold. The end of hole samples will be sent for multi-element analysis to allow further geochemical discrimination using pathfinder elements.

Due to the reconnaissance nature of the drilling, true heel-toe coverage was not achieved and thus it is likely that other pods of mineralisation exist in the near vicinity and these should be detectable using geophysics (IP). Initial (gold only) results have now been received for all outstanding Aircore and auger drilling at Tabakorole, with end of hole samples remaining to be sent off for multi-element analysis overseas. The previously reported Target H results were followed up with 3 further lines of Aircore and included one potentially economic intercept of 7m at 2.1g/t Au and ending in mineralisation.

Target I encountered several high gold values with peaks of 2m at 5.2g/t and 2m at 0.33g/t while Target J returned a peak value of 2m at 0.49g/t with moderately anomalous gold ranging between 30-80ppb encountered on adjacent lines. Importantly these results demonstrate the presence of mineralisation at these targets and the results are planned be followed up with IP concurrently with Lone Wolf.