STEP Energy Services Ltd. announced that the first hole to be drilled on the Maronan Project since 2014 has been successfully completed reaching the target zone as planned and intersecting significant intervals of mineralization. With an experienced management team now in place and drilling having started early in August, the Company's first drill hole MRN22001A was completed at a depth of 801.7 metres. MRN22001, a wedge off the initial hole, is well advanced towards its planned depth of 870 metres.

Drill core observations have revealed a very strongly weathered zone in each hole with variable intensity copper mineralisation. This parent and daughter hole were aimed to extend copper-gold mineralization above historic hole MND12004 which was drilled in 2012 as well as testing lead-silver base metal horizons above and below the copper zone. Variable intensity visible copper mineralisation has been intersected from 655m to 764m downhole in MRN22001A and is approximately 190 metres above historic drill hole MRN12004.

The western lead-silver horizon was identified between 573 to 578m downhole and the eastern lead-silver horizons between 764 to 774m and 778 to 782m downhole. Logging, sampling and dispatch for assay to Australian Laboratory Services in Mount Isa for MRN22001A has been completed with results expected by the end of October. MRN22001 has reached 824m downhole revealing further variable intensity visible copper mineralization between 745m to 766m and 797 to 824m downhole and is approximately 85 metres above historic drill hole MRN12004.

The eastern lead-silver horizon is expected to be intersected before planned hole end. Maronan Metals recently commenced its maiden exploration drilling program at the Company's exciting Maronan Project located 65 kilometers south of Cloncurry in Northwest Queensland. This initial program consists of over 10,000 metres of drilling and aims to evaluate the potential for continuous higher-grade zones of copper-gold and lead-silver mineralisation within the deposit.