Marquee Resources Limited provided an update on diamond drilling currently being undertaken on the Lone Star Copper-Gold Project, Washington State, USA. The first ten drill holes (~1,840m) out of the 42-hole (~6,000m) diamond drilling campaign have been completed, logged and sent to the lab, with multiple zones of visible chalcopyrite-pyrite mineralization being observed in all logged drill cores. The second batch of assay results are due in early-February and the third batch has now arrived at the laboratory.

The company plans to drill a total of fourty-two drill holes for approximately 6,000m of diamond drilling at the Lone Star Copper-Gold Project which is expected to be completed in first quarter 2022. The drilling program has been 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. Zones of sulphide mineralization have been intersected in all holes drilled to date with significant intervals from the first two drill holes reported to the market including: LS21-001: 44.2m at 1.3% Cu from 65.8m (including 19.8m at 2.4% Cu) 22.1m at 1.15% Cu from 140.4m (including 8.5m at 2.1% Cu).

LS21-002: 15.54m at 3.7% Cu & 1.8g/t Au from 48.3m (including. 2.6m at 18.5% Cu & 10.4g/t Au) 53.6m at 0.8% Cu from 120.7m (including 7.6m at 2.1% Cu & 1.4g/t Au). Drilling has been continuing around the clock and 14 drill holes have been completed for 2,385m.

Two main zones of chalcopyrite-pyrite mineralization are observed in drill core, a shallow rhyolite/dacite hosted Upper Zone, and a Lower Zone of mineralization hosted on the margin of and within a serpentinite unit. Mineralized zones are composed of sheeted and stockwork pyrite-chalcopyrite veins, veinlets and disseminations. Drill Hole LS21-003: LS21-003 was collared approx.

35m south of LS21-002 and was designed to validate nearby, high-grade mineralization intersected in drill hole IC-7. A total of 91.15m of variably mineralized core was observed in LS21-003 with massive quartz-sulphide veins intersected in the dacite hosted Upper Zone, while disseminated to locally abundant sulphides intersected in the serpentinite hosted Lower Zone. Drill Hole LS21-004: Upon completion of LS21-003, the drill rig moved to the northwest pit area to begin systematically completing the rest of the exploration program. Strong, rhyolite-hosted, Upper Zone sulphide mineralization (5-8% sulphides) was observed between 7.01-24.69m for a total of 17.68m.

Mineralization within the Lower Zone consisted of disseminated sulphides with sulphide segregations and vein sulphides locally. Drill Hole LS21-006: Upper Zone mineralization in LS21-006 has been structurally offset by post-mineralization (Tertiary aged) dykes and structures. As such the hole was drilled predominantly within serpentinite and an approx.

37m wide zone of Lower Zone mineralization, with an average sulphide abundance of 3-5% and locally massive sulphides, was observed from 76.81m. Drill Hole LS21-007: Similar to LS21-006, no Upper Zone mineralization was intersected in LS21-007 due to the structural offset of the dacite host rock. Lower Zone mineralization was intersected between 106.68-125.58m for a total of 18.90m with an average sulphide abundance of 3-5% and local zones of massive quartz-sulphide veining.

Drill Hole LS21-008: Rhyolite hosted Upper Zone mineralization was intersected in LS21-008 from 5.49-24.69m for a total of 19.20m with an overall sulphide percentage estimate of 5-6%. Sulphide mineralization is associated with quartz-carbonate veining and fractures. Lower Zone mineralization was weakly developed with trace sulphides observed.

Drill Hole LS21-009: Fine grained, disseminated, rhyolite hosted Upper Zone mineralization was intersected in LS21-009 with an overall sulphide percentage estimate of 3-4%. Mineralization is associated with brecciation of the host rock and quartz- carbonate veining and fractures. Lower Zone mineralization was weakly developed with trace sulphides observed.

Drill Hole LS21-010: Multiple zones of sulphide mineralization were observed over significant intercepts throughout LS21-010. Mineralization was primarily disseminated sulphides with local zones of vein hosted, massive sulphide in both the Upper Zone and Lower Zone mineralization observed. Drill Hole LS21-011: Significantly, LS21-011 was drilled on the edge of the historical resource wireframe and was targeted to drill test the down dip continuity of the resource.

Multiple zones of serpentinite hosted, Lower Zone, sulphide mineralization were intersected which highlights the potential for the mineralization to remain open to the east.