Marquee Resources : Latest Assay Results From Lone Star Copper-Gold Project

08 June 2022

ASX RELEASE

For personal use only

Latest Assay Results From Lone Star Copper-Gold Project

• Phase 1 drilling program has now been completed for a total of 46 drill holes for 7,888 meters with final assays still pending.
• Assays for significant zones of high-grade copper and gold mineralisation intersected within broader zones that include:
• • 10.7m @ 2.4% Cu & 1.0 g/t Au from 111.6m (incl. 5.2m @ 4.1% Cu & 1.9 g/t Au) (LS21-027)
  • 9.5m @ 1.3% Cu & 0.9 g/t Au from 230.7m (LS21-039)
  • 6.1m @ 1.4% Cu & 0.3 g/t Au (LS21-031)
  • 30.5m @ 0.9% Cu & 0.5 g/t Au from 25.6m (incl. 13.1m @ 1.5% Cu & 0.7 g/t Au) (LS21-030)
  • 35.1m @ 0.8% Cu & 0.3g/t Au from 41.2m (incl. 4.6m @ 2.1% Cu & 0.8 g/t Au) (LS21-022)
  • 70.7m @ 0.7% Cu & 0.4 g/t Au from 134.1m (incl. 3.4m @ 4.3% Cu & 14.9 g/t Au) (LS21-039)
  • 79.9m @ 0.6% Cu & 0.4 g/t Au from 97.5m (incl. 7.6m @ 1.3% Cu & 2.8 g/t Au) (LS21-022)
  • 58.2m @ 0.6% Cu & 0.3 g/t Au from 140.5m (incl. 5.2m @ 1.6% Cu & 0.9 g/t Au) (LS21-025)
  • 23.8m @ 0.7% Cu & 0.4 g/t Au from 157.6m (incl. 11.0m @ 1% Cu & 0.6 g/t Au) (LS21-031)
  • 25.3m @ 0.7% Cu & 0.2 g/t Au from 50.3m (LS21-024)
  • 24.4m @ 0.6% Cu & 0.3 g/t Au from 138.7m (LS21-023)
• Upon final receipt of all assays the company will work towards compiling a maiden JORC 2012 resource estimate at the Lone Star deposit.
• Resource modelling will continue with a focus on identifying an economic global resources with a high grade envelope identified in drill hole LS21-001 and LS21-002 which showed 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.
• Multiple high grade zones of mineralisation intersected during the campaign to date include:
• • 44.2m @ 1.3% Cu from 65.8m (incl. 19.8m @ 2.4% Cu) (LS21-001)
  • 22.1m @ 1.15% Cu from 140.4m (incl. 8.5m @ 2.1% Cu) (LS21-001)
  • 15.54m @ 3.7% Cu & 1.8g/t Au from 48.3m (incl. 2.6m @ 18.5% Cu & 10.4g/t Au) (LS21-002)

Marquee Resources Limited ("Marquee" or "the Company") (ASX:MQR) is pleased to announce the latest results from the Lone Star Copper-Gold Project, Washington State, USA ("Lone Star" or "The Project"). Results from this

WWW.MARQUEERESOURCES.COM.AU	1
22 Townshend Road Subiaco WA 6008

batch of assays continue to intersect a wide mineralised envelope (up to 80m @ >0.5% Cu) with high-grade mineralised zones (~5-10m @ >1% Cu) within the core of the system.

onlyThe Phase 1 drilling program has now been completed and, upon receipt of final results and geological interpretation, the Company's focus now turns to completion of a maiden Lone Star resource estimate.

Executive Chairman Comment:

Marquee Executive Chairman, Mr. Charles Thomas, commented: "We've been drilling 24/7 at Lone Star for 7 months now so we're pleased to have successfully completed the Phase 1 drill program safely and without incident. While we await the final results we will continue interpreting the geology and we will progress the resource modelling studies as quickly as possible upon receipt of final results."

use"The results from the drilling program thus far continue to extend the historically defined NI 43-101 resource envelope so we look forward to working towards delivering a maiden JORC compliant resource for the Lone Star deposit."

personalFor

Figure 1: Cross-section 5428188N.

WWW.MARQUEERESOURCES.COM.AU	2
22 Townshend Road Subiaco WA 6008

Significant results from the latest batch of assays include:

1. LS21-022: 35.1m @ 0.8% Cu, 0.3g/t Au & 5.6g/t Ag from 41.2m inc. 4.6m @ 2.1% Cu, 0.8 g/t Au & 22.6 g/t Ag.

	o LS21-022: 79.9m @ 0.6% Cu, 0,4 g/t Au & 2.1 g/t Ag from 97.5m inc. 7.6m @ 1.3% Cu, 2.8 g/t Au & 11.8
only	g/t Ag
o LS21-023: 24.4m @ 0.6% Cu, 0.3 g/t Au & 2.7 g/t Ag from 138.7m
	o LS21-024: 25.3m @ 0.7% Cu, 0.2 g/t Au & 1.4 g/t Ag from 50.3m
	o LS21-025: 58.2m @ 0.6% Cu, 0.3 g/t Au & 2.2 g/t Ag from 140.5m inc. 5.2m @ 1.6% Cu, 0.9 g/t Au & 2.4
use	g/t Ag
o LS21-027: 10.7m @ 2.4% Cu, 1.0 g/t Au & 5.5 g/t Ag from111.6m inc. 5.2m @ 4.1% Cu, 1.9 g/t Au & 9.5
g/t Ag
	o LS21-027: 6.3m @ 0.8% Cu, 2.3 g/t Au & 0.8 g/t Ag from 226.0m
	o LS21-030: 30.5m @ 0.9% Cu, 0.5 g/t Au & 2.2 g/t Ag from25.6m inc. 13.1m @ 1.5% Cu, 0.7 g/t Au & 2.7
	g/t Ag
	o LS21-031: 6.1m @ 1.4% Cu, 0.3 g/t Au & 1.0 g/t Ag
	o LS21-031: 23.8m @ 0.7% Cu, 0.4 g/t Au & 1.2 g/t Ag from 157.6m inc. 11.0m @ 1% Cu, 0.6 g/t Au & 1.7
	g/t Ag
	o LS21-039: 70.7m @ 0.7% Cu, 0.4 g/t Au & 2.8 g/t Ag from 134.1m inc. 3.4m @ 4.3% Cu, 14.9 g/t Au &
	29.5 g/t Ag

1. LS21-039: 9.5m @ 1.3% Cu, 0.9 g/t Au & 4.3 g/t Ag from 230.7m

personalThe Lone Star deposit is interpreted to have elements of structural and stratigraphic control with an overprinting porphyry copper system. Structurally stacked 'tectonic' lenses of east dipping, closely spaced, overlapping en

echelon zones of VMS-style massive sulphide have been structurally emplaced during thrusting over the basal serpentinite unit.

At least eight individual zones have been interpreted and these zones range from 1-18 metres thick. Porphyry and hydrothermal fluids utilised the pre-existing structural architecture to deposit copper-gold mineralisation subsequent to the earlier thrusting event.

Structurally controlled epithermal gold mineralisation, discordant with early base metal mineralisation, has also been identified hosted in veins, shear veins and breccia zones and is interpreted to have been deposited syn- orphyry emplacement. At least three separate rhyolite sills, are fed by sub-vertical, structurally controlled, feeder

dykes/zones.

ForThe mineralised sub-vertical dykes/zones are estimated to be approx. 20-40m wide, extend laterally for tens to hundreds of metres, and are vertically extensive. Identification of the mineralised dykes opens up the possibility of defining significant additional mineralisation outside the flat-lying, structurally remobilised base metal mineralisation that has been historically identified.

Lone Star Diamond Drilling Program Update

The Phase 1 drilling program has been completed at Lone Star which included 46 diamond drillholes for 7,888m (Table 1). Assay results from 31 drill holes received with the final batch of core enroute to the laboratory (Table 2). Fianl results from the drilling program are expected in approx. 4 weeks.

The phase 1 drill program was designed to satisfy three key objectives:

WWW.MARQUEERESOURCES.COM.AU	3
22 Townshend Road Subiaco WA 6008

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

personaluse only
Mining Plus Pty Ltd have continued resource modelling studies and has recently completed a site visit as the
Company pushes towards delivering a 2012 JORC-compliant resource.
For	Figure 2: Lone Star drill plan map

WWW.MARQUEERESOURCES.COM.AU	4
22 Townshend Road Subiaco WA 6008

Table 1: Lone Star planned drilling program.

only	Plan ID
	LS21-001
	LS21-002
	LS21-003
	LS21-004
	LS21-005
	LS21-006
	LS21-007
use	LS21-008
	LS21-009
	LS21-010
	LS21-011
	LS21-012
	LS21-013
personalFor	LS21-014
LS21-015
LS21-016

LS21-017

LS21-018

LS21-019

LS21-020

LS21-021

LS21-022

LS21-023

LS21-024

Easting		Northing		ELEV	Azi	Dip	Hole Depth	Plan ID	Easting	Northing	ELEV	Azi	Dip	Hole Depth
							(m)							(m)
382789		5428092		1114.7	0	-90	230.1 (EOH)	LS21-025	382856	5428187	1122.8	0	-90	215.5 (EOH)
382802	5428089	1117.3	0	-90	224.3 (EOH)	LS21-026	382890	5428187	1129.6	0	-90	236.8 (EOH)
382799		5428053		1117.3	0	-90	282.5 (EOH)	LS21-027	382930	5428187	1136.4	0	-90	247.6 (EOH)
382777	5428298	1095	0	-90	191.1 (EOH)	LS21-028	382689	5428149	1078.5	0	-90	97.6 (EOH)
382855		5428302		1103.4	27	-70	129.8 (EOZ)	LS21-029	382742	5428149	1096	0	-90	75.3 (EOH)
					0
382857	5428300	1128	0	-90	139.3 (EOH)	LS21-030	382783	5428149	1113.9	0	-90	215.5 (EOH)
382906		5428302		1122.3	0	-90	212.4 (EOH)	LS21-031	382808	5428149	1119.8	0	-90	197.3 (EOH)
328781	5428271	1091.6	0	-90	133.2 (EOH)	LS21-032	382839	5428149	1124	0	-90	273.4 (EOH)
382818		5428273		1106	90	-80	90.5 (EOH)	LS21-033	382926	5428149	1139.1	0	-90	276.4 (EOH)
382819	5428273	1106	90	-70	197.2 (EOH)	LS21-034	382703	5428095	1102.3	0	-90	78.3 (EOH)
382906		5428272		1122.3	0	-90	139.3 (EOH)	LS21-035	382735	5428095	1108.5	0	-90	175.9 (EOH)
382710	5428248	1075.7	0	-90	95.7 (EOH)	LS21-036	382833	5428095	1121.6	0	-90	221.6 (EOH)
382754		5428250		1073.1	0	-90	252 (EOH)	LS21-037	382900	5428095	1137.3	0	-90	282.5 (EOH)
382782	5428243	1084.4	0	-90	130.2 (EOH)	LS21-038	382745	5428051	1106.2	0	-90	140.2 (EOH)
382814		5428243		1103	0	-90	160.4 (EOH)	LS21-039	382836	5428051	1124.1	0	-90	263.3 (EOH)
382839	5428243	1108.1	0	-90	200.3 (EOH)	LS21-040	382839	5428024	1123.7	0	-90	N/D
382876		5428243		1124.8	0	-90	212.1 (EOH)	LS21-041	382750	5428022	1104.5	0	-90	247.8 (EOH)
382693	5428222	1070.6	0	-90	197.3 (EOH)	LS21-042	382787	5428022	1111.8	0	-90	N/D
382748		5428217		1076.8	0	-90	139.3 (EOH)	LS21-043	382754	5428281	1083.89	0	-90	32.6 (EOH)
382788	5428217	1092.9	0	-90	159.5 (EOH)	LS21-044	382728	5428278	1083.46	0	-90	38.7 (EOH)
382831		5428217		1107.2	0	-90	206.1 (EOH)	LS21-045	382703	5428268	1083	0	-90	31.4 (EOH)
382865	5428217	1114.8	0	-90	209.1 (EOH)	LS21-046	382795	5428189	1096.9	0	-90	64.9 (EOH)
382913		5428217		1118.6	0	-90	212.4 (EOH)	LS21-047	382767	5428189	1096.9	0	-90	52.4 (EOH)
382821	5428187	1110.4	0	-90	197.3 (EOH)	LS21-048	382741	5428188	1096.9	0	-90	81.4 (EOH)

WWW.MARQUEERESOURCES.COM.AU	5
22 Townshend Road Subiaco WA 6008