Marathon PGM Corporation

Published : August 27th, 2008

Acquires Remaining Discovery Shares Pursuant to Compulsory Acquisition

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Marathon Acquires Remaining Discovery Shares Pursuant to Compulsory Acquisition

     TORONTO, Aug. 27 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company") today announced that it has completed the compulsory acquisition
procedure set out in the British Columbia Business Corporations Act ("BCBCA")
to acquire the remaining Discovery PGM Exploration Ltd. ("Discovery") common
shares not acquired pursuant to the take-over bid offer announced on April 7,
2008 (the "Offer"). Under the BCBCA, since the Company had acquired more than
90% of Discovery's outstanding common shares under the Offer that expired on
May 28, 2008, it was entitled to acquire Discovery's remaining outstanding
common shares. Under the compulsory acquisition, the Company has issued 0.0794
of a Marathon common share for every Discovery share, the same share exchange
ratio as under the Offer.
     Any Discovery shareholder that (i) is a U.S. Person (as such term is
defined in Regulation S under the United States Securities Act of 1933, as
amended) or (ii) holds Discovery shares on behalf of a U.S. Person or (iii) is
a shareholder resident in a jurisdiction in which Marathon shares may not be
lawfully delivered will receive the cash proceeds from the sale of the
Marathon shares that would have otherwise been distributed to them.
     The Company has now issued a total of 2,403,229 common shares in exchange
for Discovery's total outstanding common shares pursuant to the Offer.

     Early Warning Requirements under Applicable Securities Laws

     As a result of the compulsory acquisition of the additional Discovery
Shares, Marathon has now acquired an aggregate of 30,267,368 common shares of
Discovery, which represents 100% of the common shares of Discovery. There are
warrants to purchase 200,000 Discovery common shares that have not been
exercised. The Company has begun negotiations with the holders regarding the
potential purchase of the warrants.
     This press release shall not constitute an offer to purchase or a
solicitation of an offer to sell securities in any jurisdiction. A copy of the
early warning report filed pursuant to the applicable securities legislation
is available online at www.sedar.com under Discovery's profile or may be
obtained by contacting Marathon at 330 Bay Street, Suite 1505, Toronto,
Ontario, M5H 2S8, Telephone 416-861-0851.

     CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: Except for
statements of historical fact relating to the Company, certain information
contained herein constitutes "forward-looking statements". Forward-looking
statements are frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made and are subject to a variety of
risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These risks and uncertainties include but are not limited to those
identified and reported in Management's Discussion and Analysis for the year
ended December 31, 2007. Circumstances or management's estimates or opinions
could change, and management disclaims any obligation to revise or update
forward-looking statements, whether for new information, future events or
otherwise. The reader is cautioned not to place undue reliance on
forward-looking statements.

     On Behalf of Marathon PGM:
     "Phillip C. Walford"
     Phillip C. Walford, P.Geo.
     President, Chief Executive Officer
     gen@marathonpgm.com
     Tel: +1.416.987.0711

     %SEDAR: 00020574E
For further information: David Leng, P.Geo: dleng@marathonpgm.com, Tel:
(905) 537-5377; Fax: (416) 861-1925

.

Marathon PGM Corporation

EXPLORATION STAGE
CODE : MAR.TO
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Marathon PGM is a nickel and zinc exploration company based in Canada.

Marathon PGM holds various exploration projects in Canada.

Its main exploration properties are BIRD RIVER - PAGE BLOCK, MARATHON, BIRD RIVER - NI ZONE, BIRD RIVER - ZN & CU ZONE and GEORDIE LAKE in Canada.

Marathon PGM is listed in Canada and in United States of America. Its market capitalisation is CA$ 9.2 millions as of today (US$ 7.1 millions, € 6.2 millions).

Its stock quote reached its lowest recent point on August 14, 1998 at CA$ 0.02, and its highest recent level on June 03, 2011 at CA$ 7.50.

Marathon PGM has 17 700 000 shares outstanding.

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12/18/2009 Closes First Tranche of Non-Brokered Private Placement Flow...
Nominations of Marathon PGM Corporation
8/8/2007 appoints Raymond Mason as VP of Operations
Financials of Marathon PGM Corporation
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11/14/2007 Announces 2007 Q3 Financial Results
8/2/2007 Announces 2007 Q2 Financial Results
5/15/2007Announces 2007 Q1 Financial Results
Project news of Marathon PGM Corporation
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7/27/2010Cu Project Advances: Permitting, Financing and Metallurgy
7/21/2010(Marathon)Hits 33.54 g/t (uncut) Gold Across 4 m (0.98 oz/ton uncut ac...
3/22/2010(Geordie Lake)Excellent Geordie Lake Drill Results
11/24/2009(Marathon) Receives Optimized Definitive Feasibility Study - Significa...
10/7/2009(Geordie Lake)Development Plans for Geordie Lake Deposit
9/29/2009(Marathon) Wraps Up 2009 Campaign with 4.31 g/t PGM+Au and 0.19% Cu ov...
9/16/2009(Marathon)Drilling Program Hits High Grade Outside Pit Shell
9/10/2009(Marathon)Announces Analyst Day at Marathon PGM-Cu Project
9/8/2009(Marathon)Marathon's Drilling Pushing New Boundaries
7/6/2009(Marathon)Project DFS Being Optimized
6/10/2009(Marathon)Completes Purchase of Bamoos Land Package
6/12/2009(Bird River - Page Block)Marathon Intersects Sulphide Lenses at Coppermine Zone
6/1/2009(Marathon)Better Metallurgy and Economics
3/11/2009(Bird River - Page Block) Reports Positive Drill Results at Bird River
2/27/2009(Bird River - Page Block)Bird River Resource Expansion Continues
2/3/2009(Bird River - Page Block)Marathon Files Technical Report on Feasibility Study and Res...
1/15/2009(Bird River - Page Block) Develops Two Resources on Bird River Project
12/19/2008(Marathon)Project Receives Positive Feasibility Study
11/6/2008(Marathon)Project Receives Support from Pic River First Nation
8/12/2008Definitive Feasibility Study Update
7/29/2008(Marathon)Hits Thickest Ever Intersection of PGM-Cu Mineralization, 18...
7/16/2008(Bird River - Page Block)Ore Fault Drilling Hits 4.5m of 1.32% Ni, 0.14% Cu, and 1.31...
1/28/2008(Marathon) Entering into Option and JV Agreement with Benton Resources...
12/12/2007(Bird River - Page Block)Reviews Progress of 2007 and Plans for 2008
10/24/2007(Marathon)reports final holes of 2007 campaign and hits thickest ever ...
9/11/2007 intersects 44 m of 1.48 g/t PGM and gold and 0.36% copper o...
7/26/2007(Marathon)Drilling intersects 14.6 g/t PGM and gold and 0.18% copper o...
4/18/2007(Marathon)drills 8 m of 3.1 g/t PGM+Au in W Zone
4/4/2007(Marathon)drilling continues to expand W and RD Zones
3/21/2007(Marathon)Drilling Expands High Grade W Zone and Establishes New Poten...
2/17/2007(Marathon)hits high-grade Palladium, Platinum and Rhodium in 2 holes, ...
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10/6/2011(Marathon)Marathon Intersects Best Interval at the Leprechaun Gold Dep...
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8/11/2010Receives Initial Metallurgical
5/13/2010Announces 8,000 Meter Drilling
5/4/2010New Geordie Lake Resource: Increased Metals, Grade and
4/27/2010Joseph G. Spiteri Appointed to Marathon PGM
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12/23/2009Enters Option and JV Agreement for Mountain Lake's Valentine...
8/26/2009Marathon Converting Waste to Ore
7/15/2009Improving Resources Classifications at Marathon
12/11/2008Project accepted into MPMO Projects List
9/4/2008Completes 2008 Drilling Program on BCF JV Property, Intersec...
8/27/2008Acquires Remaining Discovery Shares Pursuant to Compulsory A...
8/19/2008Growth Continues, Ore Fault Property Acquisition Completed
2/4/2008Cabo Awarded Marathon PGM Corporation Contract
1/7/2008 Fault Agreement Approved by Bird River Mines Shareholders, ...
11/1/2007Finalizes Option Agreement for Ore Fault and Plans Drill Cam...
10/11/2007and Bird River Mines Inc., Announce an Option Agreement for ...
10/4/2007 completes 40,000 m drilling campaign and expects new minera...
10/3/2007: CEO Interview
10/2/2007signs Memorandum of Understanding with the Ojibways of Pic R...
9/21/2007 Samples 7.09 g/t PGM and gold,
8/29/2007extends mineralized zone to 800 m at the Coppermine Zone, Bi...
8/24/2007acquires PGM-Ni-Cu property in the Steel Mountain Complex, N...
8/16/2007- CEO Interview
8/13/2007hits 6 m of 7.48 g/t PGM and gold and 0.06% copper in W Hori...
7/12/2007discovers additional mineralization outside perimeter of exi...
6/28/2007drilling discovers mineralization outside of resource open p...
6/25/2007drilling hits mineralization at WD zone 3 km south of Malach...
6/11/2007Promising First Results from Bird River Property for Maratho...
5/11/2007Drilling Continues Expansion of W Zone and Southern Resource
4/18/2007acquires Bird River Ni-Cu+PGM Property through option
1/25/2007Measured and Indicated In-Pit Resource Grows 39%
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