Marquee Resources : NEW HIGH-GRADE GOLD ZONE IDENTIFIED - LONE STAR PROJECT

24th February 2022ASX RELEASE

only		NEW HIGH-GRADE GOLD ZONE IDENTIFIED
			LONE STAR PROJECT
		• New high-grade gold zone identified (results up to 11.7g/t Au) within the Lone Star deposit which
use	indicates at least two, separate mineralisation events.
• This new gold zone highlights the potential to define further high-grade, structurally controlled gold
mineralisation that was not a focus of historical exploration programs but will be the focus of future
work programs.
• Significant zones of mineralisation intersected include:
		▪ 17.7m @ 1.6% Cu, 2.8g/t Au & 5.9g/t Ag from 107.9m (LS21-007) including:
		o 4.1m @ 5.3% Cu, 1.5g/t Au & 16.8g/t Ag and
		o 4.9m @ 0.5% Cu, 7.9g/t Au & 2.6g/t Ag.
		▪ 11.9m @ 1.0% Cu, 2.0g/t Au & 3.3g/t Ag from 99.7m (LS21-006) including:
		o 1.6m @ 2.1% Cu, 11.7g/t Au & 7.0g/t Ag.
		▪ 21.3m @ 0.6% Cu from 59.2m (LS21-010).
personal	▪ 37.9m @ 1.0% Cu, 0.4g/t Au & 4.5g/t Ag from 7.8m (LS21-010) including:
in 1H-2022.
		o	12.2m @ 2.0% Cu, 1.1g/t Au & 8.8g/t Ag) (LS21-010 previously reported).

• 20 diamond holes completed as part of the 43 hole, ~6,000m program with a significant number of drill holes intersecting sulphides outside of the historical resource wireframe.

• Batches of core are being delivered to the lab fortnightly with regular updates expected over the coming weeks.

• Mining Plus Pty Ltd has begun resource modelling studies to produce a JORC-2012 compliant resource

Marquee Resources Limited ("Marquee" or "the Company") (ASX:MQR) is pleased to announce results from the latest batch of assays at the Lone Star Copper-Gold Project, Washington State, USA ("Lone Star" or "The Project"). Results from the latest batch of assays have identified high-grade gold and copper mineralisation in an area of the Lone Star deposit that lacked significant historical intercepts and gold assay data. Significant results from the latest batch of assays include:

For	• 17.7m @ 1.6% Cu, 2.8g/t Au & 5.9g/t Ag from 107.9m (including: 4.1m @ 5.3% Cu, 1.5g/t Au & 16.8g/t Ag
	and 4.9m @ 0.5% Cu, 7.9g/t Au & 2.6g/t Ag) (LS21-007).
	• 11.9m @ 1.0% Cu, 2.0g/t Au & 3.3g/t Ag from 99.7m (including: 1.6m @ 2.1% Cu, 11.7g/t Au & 7.0g/t Ag)
	(LS21-006).
	• 21.3m @ 0.6% Cu from 59.2m (LS21-010)
	• 37.9m @ 1.0% Cu, 0.4g/t Au & 4.5g/t Ag from 7.8m (including: 12.2m @ 2.0% Cu, 1.1g/t Au & 8.8g/t Ag)
	(LS21-010 previously reported).

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High-grade gold mineralisation is discordant with high-gradecopper-silver mineralisation (Figure 1) and it is
interpreted that early volcanogenic massive sulphide (VMS) style copper-silver mineralisation has been overprinted
personaluse only
by later shearing, brecciation and hydrothermal gold deposition. As such, the results indicate the potential to define
further high-grade, structurally controlled gold mineralisation that was not a focus of historical exploration
programs.
For	Figure 1: Mineralised interval from LS21-007 of 17.7m @ 1.6% Cu, 2.8g/t Au & 5.9g/t Ag from 107.9m

Executive Chairman Comment

Marquee Executive Chairman, Mr. Charles Thomas, commented: "These latest results are somewhat unexpected but extremely encouraging considering they are from an area of the deposit with modest historical results and no historical gold assays. The results also show that there is clearly plenty of room for improvement in the historical resource model and geological understanding of the deposit."

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"Drilling continues at a cracking pace as we near the half-way mark of the program, so we are expecting results to start coming in thick and fast. We know the mineralisation at Lone Star plunges to the south-west, so we expect to onlysee the excellent results continue as we systematically work through the drilling program from northwest to southeast. We are excited to build on what has been a great start to the program and our understanding of the mineralised system grows with every hole. Our initial discussions with Mining Plus Pty Ltd have been very encouraging and we believe that the Project will continue to develop into a viable and profitable mining scenario.

The first step, however, is to deliver a quality JORC compliant resource in the first half of 2022."

Lone Star Diamond Drilling Program Update

To date, 20 diamond drill holes for 3,578m have been completed at Lone Star with full assay results from the first usenine drill holes received (Table 1).

Batches of core are being delivered to the laboratory on a fortnightly basis with results to continue filtering through over the coming weeks. Drilling continues 24 hours a day as part of the forty-three hole, ~6,000m diamond drilling program. Drilling is expected to be completed at the Lone Star Copper-Gold Project in Q1-2022 with the phase 1 drill program designed to satisfy three key objectives:

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

personalLS21-010 was drilled at a dip of 70o to the east on the same drill pad that LS21-009 was collared from. Initial results from LS21-010 have been reported previously (Refer MQR ASX release 14th Feb 2022) which highlight the near

surface potential of the project. Multiple zones of disseminated and vein hosted, massive sulphide mineralisation was and final results from LS21-010 have been received and form part of the content of this release. Significant assay results received from LS21-010include 36.1m @ 1.0% Cu, 0.4g/t Au & 4.5g/t Ag from 7.8m (including. 12.2m @ 2.6% Cu, 1.1g/t Au & 9g/t Ag) and 21.3m @ 0.6% Cu from 59.2m (LS21-010).

LS21-006 intersected serpentinite and rhyolite hosted mineralisation with abundant sulphides logged from 76.8- 114.6m. Assay results identified mineralisation underneath the historical resource wireframe (Figure 2) with significant results including 11.9m @ 1.0% Cu, 2.0g/t Au & 3.3g/t Ag from 99.7m (including: 1.6m @ 2.1% Cu, 11.7g/t Au & 7.0g/t Ag).

Mineralisation in LS21-007 is serpentinite hosted with abundant sulphides logged from 106.7-125.6m. Interestingly, LS21-007 provided key information about the nature and timing of the polymetallic copper-gold-silver mineralisation of the Lone Star deposit. High-grade gold mineralisation is discordant with high-gradecopper-silverFormineralisation (Figure 1) and it is interpreted that early volcanogenic massive sulphide (VMS) style copper-silver mineralisation has been overprinted by late shearing, brecciation and hydrothermal gold deposition. As such, the results indicate the potential to define further high-grade, structurally controlled gold mineralisation that was not a focus of historical exploration programs. Significant results from LS21-007 include 17.7m @ 1.6% Cu, 2.8g/t Au & 5.9g/t Ag from 107.9m (including: 4.1m @ 5.3% Cu, 1.5g/t Au & 16.8g/t Ag and 4.9m @ 0.5% Cu, 7.9g/t Au &

2.6g/t Ag).

Drilling continues 24 hours a day with batches of samples being delivered fortnightly to MSA Laboratories in Langley, British Columbia, Canada. Despite the winter conditions, production rates remain high and drill holes are being extended well beyond historical drill hole depths. Additionally, Mining Plus Pty Ltd have begun resource modelling studies as the Company pushes towards delivering a 2012 JORC-compliant resource in 1H-2022.

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personal							Figure 2: Cross-section through completed drill-holesLS21-004, 006 & 007
Table 1: Lone Star planned drilling program. BLUE shading = assays received. EOH = end of hole.
	PLAN ID		EASTING		NORTHING		ELEV		AZI		DIP		HOLE DEPTH		PLAN ID		EASTING	NORTHING		ELEV		AZI		DIP		HOLE DEPTH
							(M)							(M)
LS21-001		382789		5428092		1114.7		0		-90		230.1 (EOH)		LS21-022	382865	5428217	1114.8	0	-90	190
LS21-002		382802		5428089		1117.3		0		-90		224.3 (EOH)		LS21-023		382913	5428217		1118.6		0		-90		220
LS21-003		382799		5428053		1117.3		0		-90		282.5 (EOH)		LS21-024	382821	5428187	1110.4	0	-90		197.3 (EOH)
LS21-004		382777		5428298		1095.0		0		-90		191.1 (EOH)		LS21-025		382856	5428187		1122.8		0		-90		190
LS21-005		382855		5428302		1103.4		270		-70		110		LS21-026	382890	5428187	1129.6	0	-90	220
LS21-006		382857		5428300		1128.0		0		-90		139.3 (EOH)		LS21-027		382930	5428187		1136.4		0		-90		260
LS21-007		382906		5428302		1122.3		0		-90		212.4 (EOH)		LS21-028	382689	5428149	1078.5	0	-90	50
LS21-008		328781		5428271		1091.6		0		-90		133.2 (EOH)		LS21-029		382742	5428149		1096		0		-90		80
LS21-009		382818		5428273		1106.0		90		-80		90.5 (EOH)		LS21-030	382783	5428149	1113.9	0	-90	120
For
LS21-010		382819		5428273		1106.0		90		-70		197.2 (EOH)		LS21-031		382808	5428149		1119.8		0		-90		140
LS21-011		382906		5428272		1122.3		0		-90		139.3 (EOH)		LS21-032	382839	5428149	1124	0	-90	210
LS21-012	382710	5428248	1075.7	0	-90		95.7 (EOH)		LS21-033		382926	5428149		1139.1		0		-90		260
LS21-013		382754		5428250		1073.1		0		-90		252 (EOH)		LS21-034	382703	5428095	1102.3	0	-90	70
LS21-014	382782	5428243	1084.4	0	-90		130.2 (EOH)		LS21-035		382735	5428095		1108.5		0		-90		100
LS21-015		382814		5428243		1103		0		-90		160.4 (EOH)		LS21-036	382833	5428095	1121.6	0	-90	220
LS21-016	382839	5428243	1108.1	0	-90		200.3 (EOH)		LS21-037		382900	5428095		1137.3		0		-90		270
	LS21-017		382876		5428243		1124.8		0		-90		140		LS21-038	382745	5428051	1106.2	0	-90	110
	LS21-018	382693	5428222	1070.6	0	-90		197.3 (EOH)		LS21-039		382836	5428051		1124.1		0		-90		220
	LS21-019		382748		5428217		1076.8		0		-90		139.3 (EOH)		LS21-040	382839	5428024	1123.7	0	-90	250
	LS21-020	382788	5428217	1092.9	0	-90		159.5 (EOH)		LS21-041		382750	5428022		1104.5		0		-90		200
	LS21-021		382831		5428217		1107.2		0		-90		206.1 (EOH)		LS21-042	382787	5428022	1111.8	0	-90	220

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only	Table 2: Table of significant results
Hole ID	From (ft)	To (ft)	From (m)	To (m)	Interval (m)	Cu %	Au g/t	Ag g/t
LS21-001	460.5	533.0		140.4		162.5	22.1		1.2		0.3		2.2
	LS21-001	135.0	165.0		41.5		50.3	9.1		0.6		0.2		3.2
	LS21-001	180.0	202.5		54.9		61.2	6.9		1.2		0.8		12.9
	LS21-001	216.0	361.0		65.8		110.0	44.2		1.3		0.2		4.6
	inc.	216.0	291.0		65.8		88.7	19.8		2.4		0.5		6.7
	LS21-001	380.0	455.0		115.8		138.7	19.1		0.4		NSR		NSR
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inc.	460.5	488.4		140.4		162.5	8.5		2.1		0.8		2.4
	652.0	659.0		198.7		200.9	4.7		0.8		0.3		1.0
	LS21-001
	LS21-002	158.5	204.5		46.9		60.8	15.5		3.7		1.8		23.0
	inc.	186.0	194.5		56.7		59.3	2.6		18.5		10.4		106.0
	LS21-002	312.0	332.0		95.1		101.1	6.0		0.4		NSR		2.5
	LS21-002	396.0	578.0		120.7		176.1	53.6		0.8		0.4		2.0
personal
inc.	550.0	578.0		167.6		176.1	7.6		2.1		1.4		6.2
inc.	368.0	381.5		112.2		116.3	4.1		5.3		1.5		16.8
	LS21-002	636.0	639.0		193.8		194.7	0.9		3.8		1.2		4.0
	LS21-002	654.0	658.0		199.3		200.5	1.2		3.0		1.9		4.0
	LS21-002	663.0	668.0		202.0		203.6	1.6		0.9		1.0		2.0
	LS21-003	237.5	254.0		72.4		77.4	5.0		3.5		1.1		17.5
	LS21-003	412.0	485.0		125.6		147.9	22.3		0.8		0.4		NSR
	inc.	439.0	470.0		133.8		143.3	9.5		1.1		0.5		5.6
	LS21-003	509.0	692.0		155.2		211.0	55.8		0.6		NSR	NSR
	inc.	544.0	574.0		165.9		175.1	9.2		1.0		0.3		NSR
	LS21-004	23.0	48.0		7.0		14.6	7.6		1.2		0.3		NSR
	LS21-006	327.0	366.0		99.7		111.6	11.9		1.0		2.0		3.3
	inc.	356.0	361.0		108.5		110.1	1.6		2.1		11.7		7.0
	LS21-007	354.0	412.0		107.9		125.6	17.7		1.6		2.8		5.9
For
inc.	385.0	401.0		117.4		122.3	4.9		0.5		7.9		2.6
LS21-008	18.0	76.0		5.5		23.2	17.7		0.6		0.3		NSR
LS21-009	21.0	151.0		6.4		46.0	39.6		0.4		NSR		NSR
LS21-009	208.0	237.0		63.4		70.7	7.3		0.5		0.4		NSR
LS21-010	25.5	144.0		7.8		43.9	37.9		1.0		0.4		4.5
inc.	69.0	109.0		21.0		33.2	12.2		2.0		1.1		8.8
	LS21-010	194.0	264.0		59.2		80.5	21.3		0.6		NSR		3.3
	LS21-010	417.0	454.0		127.1		138.4	11.3		0.4		NSR	3.2

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