Quarterly Activities/Appendix 5B Cash Flow Report

Marquee Resources Limited (“Marquee” or “Company”) (ASX:MQR) is pleased to provide this Quarterly Activities Report for the March 2023 quarter.

West Spargoville Project (Lithium, Gold & Nickel Project)

The West Spargoville Project (WSP) is located in the core of the Southern Yilgarn Lithium Belt, a prominent lithium area that is well known for spodumene deposits that include; the Bald Hill Mine, the Mt Marion Mine, the Buldania Project and Essential Metals Pioneer Dome Project. The world-class Earl Grey deposit and the Mt Cattlin Mine are located further west and south respectively. MQR exercised its option with Fyfehill Pty Ltd to take 100% ownership of the Project and is now finalising the documents required for completion of the sale to occur.

Exploration Program 2022

During Q4-2022, Marquee completed its maiden lithium focused drilling program which consisted of 123 reverse-circulation drill holes for 18,776m and 351 aircore drill holes for 24,324m. The first pass drilling program focused on testing geochemical anomalism defined from auger geochemical sampling. Due to increased processing times at laboratory facilities, a significant number of assay results remain outstanding as highlighted in Table 1.

Table 1: Outstanding samples

Exploration Update & Forward Work Plan

The Company has prioritised samples with logged granitic or pegmatitic material (1 metre assays) in an effort to improve turn-around times for key assay results. 1-metre assay results have been received for 101 reverse- circulation drillholes with 1 metre results for 22 reverse-circulation drillholes remaining.

Results from the first 328 aircore holes have been returned with 24 holes outstanding. The eastern portion of the tenure, where aircore drilling has been employed, is covered by a thin veneer (<2m) of transported overburden and has a well-developed regolith profile that extends up to 100m vertical depth. Due to the nature and depth of the weathering profile, aircore drilling is required initially to target blind pegmatites for follow-up RC drilling. As such, the AC drilling is considered reconnaissance in nature, however multiple pegmatites have been intersected with significant geochemical anomalism. The assay results show a clear LCT-pegmatite association with tantalum concentrated preferentially in the upper saprolite and lithium concentrated in the lower saprolite. The geological setting is analogous to the Cade Pegmatite at the Dome North Project where mineralised pegmatite is hosted within the Black Flag Beds beneath a well-developed weathering profile (Refer ESS ASX Release 14^th January 2022).

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