Marquee Resources DOE Partnership Unlocks Rare Earth Separation Technology

Marquee Resources Secures Breakthrough IP License from DOE-Linked Oak Ridge National Laboratory

The Marquee Resources DOE partnership represents a strategic breakthrough that could transform the company's rare earth project economics. Marquee Resources (ASX:MQR) has announced a significant development through entering into a Research and Development Patent License and Option Agreement with UT-Battelle LLC, the operator of Oak Ridge National Laboratory under contract with the United States Department of Energy (DOE). This partnership provides Marquee with access to advanced rare earth separation technologies that could unlock substantial value from its 11Mt Redlings REE Project containing 12,430t of contained REO.

The agreement places Marquee into an exclusive position within the DOE-linked framework, potentially addressing one of the most challenging and valuable aspects of rare earth development: downstream processing and separation. Furthermore, this strategic positioning could fundamentally alter how the company approaches its resource development strategy.

Game-Changing Technology Access for Critical Separation Bottleneck

The licensed patent portfolio includes two key technologies that address the industry's most significant value creation challenge. The Marquee Resources DOE partnership provides access to innovations that could revolutionise rare earth processing capabilities.

The technologies encompass:

• Method for Separation of Adjacent Lanthanide Elements – addressing the complex technical challenge of separating chemically similar rare earth elements

• Neutral Ligand-Based Rare Earth Element Separation Technology (NEAREST) – providing advanced separation methodologies

Executive Chairman Charles Thomas commented:

"This Agreement is significant for Marquee not only because of the underlying rare earth separation technology, but because it is with UT-Battelle, the manager and operator of Oak Ridge National Laboratory under its prime contract with the United States Department of Energy (DOE). That association materially strengthens the strategic and technical significance of this transaction for the Company."

Understanding Rare Earth Separation: The Hidden Value Creator

What is rare earth separation? Rare earth elements naturally occur together in mineral deposits and are chemically very similar, making them extremely difficult and expensive to separate into individual elements. This separation process represents the highest-value component in the rare earth supply chain. Whilst many companies can mine rare earth ores, very few possess the technology to efficiently separate them into useable products.

Why it matters to investors: Separation capability represents the difference between selling raw ore concentrate versus high-value separated rare earth oxides. The technology licensed through the Marquee Resources DOE partnership could potentially:

• Reduce separation costs significantly
• Improve separation efficiency and purity
• Enable domestic processing capability
• Command premium pricing for separated products

This positions Marquee to potentially capture value across the entire supply chain rather than just the mining phase. In addition, the ability to assess advanced separation pathways within a framework tied to Oak Ridge National Laboratory provides a differentiated platform from which to evaluate future commercial opportunities.

Redlings Project: The Foundation Asset

Marquee's Redlings REE Project provides the material foundation for applying this advanced separation technology. The project represents substantial resources that could benefit from the enhanced processing capabilities offered through the partnership.

The Exploration Target surrounding the existing resource suggests potential for a thirteen-fold increase in area through infill drilling. This could link separate mineralised prospects and significantly expand the resource base. Consequently, this provides substantial material for testing and applying the licensed separation technologies.

According to the company's exploration planning, a 160x160m spaced infill drilling program could potentially link the currently separate mineralised prospects. This could add significant tonnage to the existing Redlings Mineral Resource Estimate.

Strategic Timeline and Value Milestones

Marquee has established a clear development pathway that balances research validation with commercial optionality. The Marquee Resources DOE partnership includes structured milestones designed to validate technology applicability whilst preserving commercial flexibility.

Key Development Milestones

1. Proof of Concept Phase (by September 30, 2026)

   • Testing with up to three different REE ores from Marquee's projects
   • Validation of technology applicability to Redlings material

2. Prototype Development (by June 30, 2027)

   • First prototype of licensed separation product
   • Demonstration of commercial viability

3. Commercial License Decision (by February 29, 2028)

   • Option to negotiate commercial licensing rights
   • Potential pathway to full-scale processing capability

This timeline provides multiple value inflection points whilst maintaining optionality for commercial development. Furthermore, the agreement includes no material obligation for Marquee to provide any minimum level of funding during the research term.

Strategic Positioning for Higher-Value Processing

Marquee views the agreement as an important strategic step in assessing whether advanced separation technologies managed within the Oak Ridge/DOE operating framework may have application to its existing JORC REE deposit at Redlings. The structure provides immediate research access whilst preserving a defined pathway to negotiate commercial rights during the term.

Key Strategic Advantages:

• Access to DOE-linked separation technology unavailable to competitors
• Potential to capture higher-margin downstream value
• Reduced dependence on third-party processing facilities
• Enhanced strategic relevance in critical minerals supply chains

The agreement allows Marquee to begin evaluating whether UT-Battelle's technology-linked downstream processing optionality may complement its upstream critical minerals exposure. This combination has the potential to broaden the company's strategic relevance. For instance, it could enable movement to the higher-value downstream end of the rare earth supply chain.

Key Insight:

Rare earth separation sits at a critical value inflection point in supply chains serving permanent magnets, electrification, defence systems and advanced manufacturing. Intellectual property and process pathways that may improve rare earth separation outcomes can command strategic importance well beyond the upstream exploration and development stage.

Investment Thesis: From Mining to Manufacturing

This agreement fundamentally changes Marquee's investment proposition by potentially enabling vertical integration into high-value downstream processing. The company has positioned itself uniquely in the rare earth sector through this DOE-linked partnership.

Market Positioning Benefits:

• Growing demand for secure rare earth separation capabilities
• Limited global separation capacity outside China
• Increasing focus on supply chain resilience in defence and technology sectors
• Premium valuations for vertically integrated rare earth companies

Risk Mitigation Features:

• No minimum funding obligations during research phase
• 24-month evaluation period before commercial commitment
• Existing JORC resource provides proven material for testing
• Option structure preserves flexibility

The agreement is directed to the extraction and separation of rare earth elements and rare earth oxides from Marquee's Redlings REE Project. During the research term, Marquee has the option to negotiate a commercial license for the use of the intellectual property. This relates to the extraction and separation of rare earth elements and rare earth oxides from the company's REE projects.

Why Investors Should Monitor Marquee Resources

The Marquee Resources DOE partnership has transformed its strategic positioning in the rare earth sector through this Oak Ridge National Laboratory collaboration. Unlike conventional exploration companies focused solely on resource development, Marquee now has access to advanced processing technology. This could potentially transform project economics and strategic value.

Key Tracking Catalysts:

• Technology Validation – Proof-of-concept results by September 2026 providing first indication of technology applicability

• Prototype Development – Expected first prototype by June 2027 demonstrating commercial viability potential

• Commercial Decision Point – Commercial license negotiation option by February 2028 representing key value inflection

• Resource Expansion – Substantial exploration upside with potential thirteen-fold resource expansion through infill drilling

• Strategic Positioning – Connection to DOE framework enhances credibility and potential for further collaboration

The combination of a substantial rare earth resource base with breakthrough separation technology access creates a differentiated investment proposition in the critical minerals sector. However, the agreement materially strengthens Marquee's strategic positioning in assessing downstream rare earth processing opportunities for the Redlings REE Project located in Western Australia.

Investment Consideration:

Marquee has evolved from a conventional rare earth explorer into a potential integrated processing company through its Oak Ridge National Laboratory partnership. With 12,430t of contained REO at Redlings and access to advanced separation technology, the company is positioned to potentially capture value across the entire rare earth supply chain. Investors should monitor upcoming milestones as Marquee validates this technology-resource combination over the next 24 months.

Want to Learn More About Marquee Resources' Rare Earth Breakthrough?

With exclusive access to DOE-linked separation technology and a substantial 12,430t REO resource at Redlings, Marquee Resources (ASX:MQR) has positioned itself uniquely in the critical minerals sector. This Oak Ridge National Laboratory partnership could transform the company from a conventional explorer into an integrated rare earth processor. To discover how this breakthrough technology agreement might unlock value from Marquee's projects and explore the investment opportunity in detail, visit www.marqueeresources.com.au for comprehensive company information and project updates.