Ann: IDENTIFIES 2.4KM LITHIUM-CEASIUM-TANTALUM GEOCHEM ANOMALY, page-44

sent an email yesterday about GTT/MQR and got a response today, so looks like company is taking communications with shareholders seriously. Thanks to @chris for the email matter.

Please find a response to your questions contained in your email below.

I hope this email finds you well and I congratulate you on progress to date and looking forward to updates.. There is growing shareholder concern in regard to Charles Thomas and his role at MQR; in particular the following;

The board has a different view and hold no such concerns of Mr Thomas. Mr Thomas has worked tirelessly over the last 5 years while leading the Company. In particular since the pandemic began in early 2020, he has successfully grown the Company whilst faced with the many varied challenges of the pandemic. (Bear in mind all of the Company’s assets were offshore at this point, the shares were trading around 5c and since then, the Company has significantly grown both its asset base and market capitalisation (~$30m). The Company is fully funded (+$5m ) for the upcoming year whilst proposing to undertake significant exploration programs at 5 of its Projects. This is in stark contrast to early 2020 when the Company had a market capitalisation of ~$3.5m, a cash balance of ~$700,000 and no projects that it could explore given the travel restrictions placed on the Company due to the Pandemic.


1. Is MQR satisfied there is no conflict arising from Charles Thomas role in MQR, his relationship to GTT and advising 3rd party clients in respect to trading MQR securities;

Yes, the Company is more than satisfied that no conflict exists. Mr Thomas regularly recuses himself if there is any chance that a conflict exists (as do Mr Henderson/Mr Moore). Mr Thomas (or the board) have never made recommendations in regard to trading in MQR shares. The Company regularly seeks Shareholder approval for important matters that affect the Company.

2. What policy/ procedures does MQR have in place to manage any potential risks arising?

MQR has industry best policy and procedures in place to handle any such conflicts (should they arise). Please refer to the Company’s Corporate Governance policy for further details.

https://www.marqueeresources.com.au/wp-content/uploads/2017/09/Corporate-Governance-Policies.pdf

3. Since, the capital raise the options have been sold off very quickly, this is daunting to shareholders confidence, and why would GTT sell them off so quickly, since Charles Thomas is executive chairman of GTT.

The last 3 Capital raising’s have been conducted at or above the prevailing market price at the time and significantly out of the money options were used as incentive to make sure the Company could raise the required funds from Sophisticated and Professional investors . Given the significant price appreciation that has occurred in the Company’s share price since then, these options are now being converted by many various parties who participated in one or all of these capital raisings. This has been significantly less dilutive for shareholders than using large discounts in previous capital raisings.

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GTT Ventures does not hold any shares or options in the Company.

Mr Thomas has again disclosed his holdings as recently as last month.

Please see attached link for further details.

https://www.asx.com.au/asxpdf/20211208/pdf/453yflcpl6ny5b.pdf

I trust this addresses your concerns.

Regards,

Anna MacKintosh – Company Secretary

(On behalf of MQR Board of Directors Mr Henderson and Mr Moore)