Marquee Resources : WIDE ZONES OF MINERALISATION INTERSECTED - LS COPPER PROJECT

14 February 2022ASX RELEASE

only		FURTHER WIDE ZONES OF MINERALISATION INTERSECTED ʹ
	LONE STAR COPPER PROJECT
	ξ Wide zones of mineralisation intersected outside of historical resource wireframe in second batch of
use	Lone Star diamond core assays.
ξ Significant zones of mineralisation intersected include:
ξ 36.1m @ 1.0% Cu, 0.4g/t Au & 4.5g/t Ag from 25.5m (including. 12.2m @ 2.6% Cu, 1.1g/t Au &
9g/t Ag) (LS21-010) (note: only 28 of 131 assays received from drill hole 10 thus far)
ξ 55.8m @ 0.6% Cu from 155.2m (including 9.15m @ 1.03% Cu & 0.3g/t Au)(LS21-003)
ξ 22.3m @ 0.8% Cu & 0.4g/t Au from 125.6m (including 9.5m @ 1.1% Cu, 0.5g/t Au & 5.6g/t Ag)
(LS21-003)
personal	ξ 5m @ 3.5% Cu, 1.1g/t Au & 17.5g/t Ag from 72.4m (LS21-003)
ξ 7.6m @ 1.2% Cu & 0.3g/t Au from 7m (LS21-004)
ξ Mining Plus Pty Ltd has been engaged to produce maiden JORC 2012 resource estimate in 1H-2022.
		ξ 17.7m @ 0.6% Cu & 0.3g/t Au from 5.5m (LS21-008)

ξ 39.6m @ 0.4% Cu from 6.4m (LS21-009)

ξ 16 diamond holes completed as part of the 42 hole, 6,000m program with a significant number of drill holes intersecting sulphides outside of the known resource envelope.

ξ The third batch of assay results due late-February with the fourth batch enroute to the laboratory.

Marquee Resources Limited ;͞DĂƌƋƵĞĞ͟Žƌ͞ƚŚĞCŽŵƉĂŶLJ͟Ϳ;^y͗DYZͿŝƐpleased to announce results from the second batch of assays at the Lone Star Copper-Gold Project, Washington State, USA (͞>ŽŶĞ^ƚĂƌ͟Žƌ͞TŚĞWƌŽũĞĐƚ͟). Results from the second batch of assays highlight continuous zones of high-gradecopper-gold mineralisation within wide (up to 50m) zones of > 0.5% copper mineralisation. Significant results from the second batch of assays include:

For	ξ 36.1m @ 1.0% Cu, 0.4g/t Au & 4.5g/t Ag from 25.5m (including. 12.2m @ 2.6% Cu, 1.1g/t Au &
9g/t Ag) (LS21-010) (note: only 28 of 131 assays received from drill hole 10 thus far)
	ξ 55.8m @ 0.6% Cu from 155.2m (including 9.15m @ 1.03% Cu & 0.3g/t Au)(LS21-003)
	ξ 22.3m @ 0.8% Cu & 0.4g/t Au from 125.6m (including 9.5m @ 1.1% Cu, 0.5g/t Au & 5.6g/t Ag)
	(LS21-003)
	ξ 5m @ 3.5% Cu, 1.1g/t Au & 17.5g/t Ag from 72.4m (LS21-003)
	ξ 7.6m @ 1.2% Cu & 0.3g/t Au from 7m (LS21-004)
	ξ 17.7m @ 0.6% Cu & 0.3g/t Au from 5.5m (LS21-008)
	ξ 39.6m @ 0.4% Cu from 6.4m (LS21-009)

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These results follow previously reported results from the first two holes of the forty-two hole ~6,000m diamond drilling campaign (refer MQR ASX Release 6th Jan 2022) which included:

only	ͻ 44.2m @ 1.3% Cu from 65.8m (including 19.8m	@ 2.4% Cu)(LS21-001)
ͻ 22.1m @ 1.15% Cu from 140.4m (including 8.5m @ 2.1% Cu)(LS21-001)
ͻ 15.54m @ 3.7% Cu, 1.8g/t Au & 23g/t Ag from 48.3m (incl. 2.6m @ 18.5% Cu, 10.4g/t Au, 106g/t Ag)
(LS21-002)
ͻ 53.6m @ 0.8% Cu from 120.7m (including 7.6m	@ 2.1% Cu & 1.4g/t Au) (LS21-002)
use
personal

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

Executive Chairman Comment

Marquee Executive Chairman, Mr. ŚĂƌůĞƐdŚŽŵĂƐ͕ĐŽŵŵĞŶƚĞĚ͗͞These results further solidify the quality of the Lone Star Project with multiple zones of high-grade copper mineralisation contained within a much larger, ŵŝŶĞƌĂůŝnjĞĚ͚ŚĂůŽ͛. Results from the first two batches of assays have delivered some exceptional grades and we believe there is significant upside to the Lone Star Project.͟

͞The results have confirmed the outstanding opportunity that Lone Star represents and early signs suggest that there is plenty of room to increase the historical resource envelope. In addition, the continued presence of high- grade gold and silver further adds to the potential of the Project as we continue to build our understanding of what is shaping to be an excellent deposit.͟

͞We have already completed 16 drill holes with four batches of assays at, or on their way to, the lab so there will be plenty of news in the coming months. We know the mineralisation at Lone Star plunges to the southwest so we Forexpect to see the excellent results continue as we systematically complete the drill program. 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. We have also engaged a high-calibre consultantancy group in Mining Plus Pty Ltd to assist in completion of our maiden resource estimate as we continue to push towards delivering a quality JORC compliant resource in

the first half of 2022.͟

Lone Star Diamond Drilling Program Update

To date a total of 16 diamond drill holes for 2,815m have been completed at Lone Star (Table 1) assay results from the first six drill holes received (LS21-001-004,008-009), and partial results for 28 of 131 results from LS21-010 received.

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The third batch of core is at the laboratory, with the fourth batch currently being transported to the laboratory, for assay. Drilling continues 24 hours a day as part of the forty-two two hole, ~6,000m diamond drilling program. Drilling is expected to be completed at the Lone Star Copper-Gold Project 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.

The first drill hole, LS21-001, was completed to a depth 230.1m (755ft) and was designed to validate historical high- grade intercepts in the core of the mineralised system. Two main zones of chalcopyrite-pyrite mineralisation were observed in drill core, a shallow dacite hosted Upper Zone from 65.8-110m, and a Lower Zone of mineralisation usefrom 115.8-162.5m hosted on the margin of and within a serpentinite unit (Figure 2). Significant results from Upper Zone mineralisation include 44.2m @ 1.3% Cu from 65.8m inc. 19.8m @ 2.4% Cu from 65.8m with significant results from Lower Zone mineralisation including 22.1m @ 1.15% Cu from 140.4m inc. 8.5m @ 2.1% Cu from

140.4m.

The second drill hole, LS21-002, was collared 13m east of LS21-001 and was drilled to a depth of 224.3m (736ft). Disseminated polymetallic Upper Zone sulphide mineralisation was encountered from 48.3m-62.3m with significant results including 15.54m @ 3.7% Cu, 1.8g/t Au & 23g/t Ag from 48.3m inc. 2.6m @ 18.5% Cu, 10.4g/t

Au & 106g/t Ag. Lower Zone mineralisation was intersected from 120.7-176.1m with results including 53.6m @ personal0.8% Cu from 120.7m inc. 7.6m @ 2.1% Cu & 1.4g/t Au from 167.6m.

LS21-003 was drilled approx. 30m south of LS21-002. 91.15m of variably mineralised core was observed with massive quartz-sulphide veins intersected in the dacite hosted Upper Zone. Disseminated to locally abundant sulphides were intersected in the serpentinite hosted Lower Zone. Significant intersections from LS21-003 included 55.8m @ 0.6% Cu from 155.2m (including 9.15m @ 1.03% Cu & 0.3g/t Au), 22.3m @ 0.8% Cu & 0.4g/t

Au from 125.6m (including 9.5m @ 1.1% Cu, 0.5g/t Au & 5.6g/t Ag) & 5m @ 3.5% Cu, 1.1g/t Au & 17.5g/t Ag from 72.4m (Figure 2).

LS21-004 was focused to the northwest pit area to begin the systematic resource drilling program and intersected hyolite-hosted, Upper Zone sulphide mineralisation, with results including 7.6m @ 1.2% Cu & 0.3g/t Au from 7m.

Drill hole LS21-008 intersected sulphide mineralisation associated with quartz-carbonate veining and fractures within the rhyolite hosted Upper Zone. Significant results from LS21-008 included 17.7m @ 0.6% Cu & 0.3g/t Au from 5.5m (Figure 3).

ForDrillhole LS21-009 was drilled vertically and intersected rhyolite hosted Upper Zone sulphide mineralisation associated with brecciation, quartz-carbonate veining and alteration. Significant results included 39.6m @ 0.4% Cu from 6.4m (Figure 3).

LS21-010 was drilled at a dip of 70o to he east on the same drill pad that LS21-009 was collared from. Early results (28 of 131 results received) from LS21-010 highlight the near surface potential of the project with multiple zones of disseminated and vein hosted, massive sulphide observed in both the Upper Zone and Lower Zones. Significant assay results received thus far from LS21-010include 36.1m @ 1.0% Cu, 0.4g/t Au & 4.5g/t Ag from 25.5m (including. 12.2m @ 2.6% Cu, 1.1g/t Au & 9g/t Ag) (Figure 3). Note: only 28 of 131 assays from drill hole 10 have been received.

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Table 1: Lone Star planned drilling program. BLUE shading = assays received. EOH = end of hole. Note: 21 of 131 samples from LS21-010 have been received.

only			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		160
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	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
	LS21-010			382819			5428273			1106.0			90			-70			197.2 (EOH)			LS21-031		382808			5428149			1119.8			0			-90			140
personal		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		120			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		70			LS21-041		382750			5428022			1104.5			0			-90			200
	LS21-021			382831			5428217			1107.2			0			-90			170			LS21-042	382787		5428022		1111.8		0		-90		220

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 been engaged to begin resource modelling studies as the Company pushes towards delivering a 2012 JORC-compliant resource in

1H-2022.For

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For personal use only

Figure 2: Section through completed drill holes LS21-001,LS21-002 & LS21-003

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