Marathon PGM Corporation

Published : September 04th, 2008

Completes 2008 Drilling Program on BCF JV Property, Intersecting 1.41g/t PGM and Au and 0.34% Cu Ove

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Marathon Completes 2008 Drilling Program on BCF JV Property, Intersecting 1.41g/t PGM and Au and 0.34% Cu Over 100m

     TORONTO, Sept. 4 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company", MAR-TSX) announced today the latest drilling results from the
Bamoos-Claw Lake-Four Dams ("BCF") Property, which is being explored under an
option and joint venture agreement with Benton Resources (TSX.v:BTC). The BCF
property adjoins the northern margin of the Company's Marathon Project north
of Marathon, Ontario.

     Highlights:

     -   hole MB-08-42 intersected 100m grading 1.41g/t PGM and Au and
         0.34% Cu
     -   hole MB-08-33 intersected 92m grading 1.32g/t PGM and Au and 0.30% Cu
     -   BCF drilling will be added to upcoming reserve estimate
     -   delineating the northern margin of mineralization is important for
         mine planning purposes

     Significant results from the BCF drilling include two intersections of
92m and 100m intersection at grades slightly better than the average for the
Main Zone. The first intersection in hole MB-08-33 consists of 92m grading
0.30% Cu and 1.32g/t PGM and Au including 27m grading 0.54% Cu and 3.00g/t PGM
and Au. The second intersection in hole MB-08-42 consists of 100m grading
0.34% Cu and 1.41g/t PGM and Au including 16m grading 0.67% Cu and 3.01 g/t
PGM and Au. This intersection is significant as it occurs 35m south along
strike of hole MB-08-10 which also contained 100m of mineralization.
     The joint venture with Benton Resources has been of great importance to
Marathon. The JV agreement allows for mining of the boundary pillar that would
otherwise be required by law to be left between Marathon's and Benton's
properties. Consequently, the resources to the north and south of this
boundary will be added to the upcoming reserve estimates. Marathon has the
right to mine ore up to 200m north of the BCF boundary prior to the JV being
completed.
     The Marathon resource has grown very quickly due to intersections of very
thick zones of mineralization. A number of greater than 100m intersections
will be added to the existing resource, which will expand the resource
tonnage.
     "Drilling and trenching has enabled us to sort out the complicated
geology on the JV property and confirm the continuation of the Main Zone by
first tracing it down dip and then following it north at depth," said David
Good, VP of Exploration.

     Results for best intersections from Marathon-Benton JV Drilling
     ---------------------------------------------------------------

     -------------------------------------------------------------------------
                                  True                         Total PGM
                 From    To    Thickness  Pd       Pt     Au     and Au   Cu
     Hole         (m)    (m)      (m)    (g/t)   (g/t)  (g/t)    (g/t)    (%)
     -------------------------------------------------------------------------
     MB-08-24     115    121        6    1.06    0.23    0.07    1.36    0.10
     -------------------------------------------------------------------------
     MB-08-28     320    354       34    0.42    0.13    0.05    0.60    0.27
     -------------------------------------------------------------------------
     MB-08-32       2     38       36    0.81    0.22    0.09    1.13    0.30
     -------------------------------------------------------------------------
     MB-08-33      38    130       92    0.96    0.27    0.10    1.33    0.30
     -------------------------------------------------------------------------
     MB-08-34    1.32     28    26.68    2.17    0.66    0.17    3.00    0.54
     -------------------------------------------------------------------------
     MB-08-35    1.57      6     4.43    1.30    0.36    0.16    1.81    0.27
     -------------------------------------------------------------------------
     MB-08-35      14     40       26    0.70    0.19    0.05    0.94    0.16
     -------------------------------------------------------------------------
     MB-08-38     151    163       12    1.02    0.22    0.09    1.32    0.12
     -------------------------------------------------------------------------
     MB-08-38     334    346       12    0.72    0.22    0.08    1.01    0.24
     -------------------------------------------------------------------------
     MB-08-39      35     39        4    1.41    0.45    0.17    2.03    0.57
     -------------------------------------------------------------------------
     MB-08-39      45     63       18    1.50    0.32    0.09    1.91    0.37
     -------------------------------------------------------------------------
     MB-08-41     172    176        4    1.04    0.27    0.08    1.38    0.39
     -------------------------------------------------------------------------
     MB-08-42     156    256      100    0.98    0.32    0.11    1.41    0.34
     -------------------------------------------------------------------------
     MB-08-42     158    164        6    1.37    0.36    0.18    1.90    0.50
     -------------------------------------------------------------------------
     MB-08-42     176    192       16    2.07    0.73    0.21    3.01    0.67
     -------------------------------------------------------------------------
     MB-08-42     206    212        6    1.18    0.34    0.13    1.65    0.51
     -------------------------------------------------------------------------
     MB-08-42     242    252       10    1.28    0.37    0.14    1.79    0.39
     -------------------------------------------------------------------------
     (1) Holes MB-08-25, -29, -30, -36, -37 and -40 intersected no significant
         values and holes 26, 27, 28, 31, and 33 intersected lower values.

     Please click on http://www.marathonpgm.com/newsmaps/2008-40.jpg to view a
drill map.
     In general, BCF drilling intersected mineralization that is
characteristic of the Marathon deposit. Mineralization was found both
on-or-near-surface as well as deeper and downdip to the west. Outcropping
mineralization is being trenched and mapped, as Marathon has done extensively
to the south on the Marathon project. Trenching north of section 6350 has
defined extensions of mineralization, which will assist next year's drilling
campaign aimed at outlining new resources.
     Drilling of the BCF property has provided Marathon with additional
resources for the DFS, as well as furthering exploration. Details of geology
assist and guide exploration, while the mineralized boundaries will be used
for mine development and planning. The total PGM and Cu resource now held by
Marathon in the Coldwell Complex exceeds 120 measured and indicated million
tonnes. This resource will increase when the results of this year's drilling
on the Marathon Property and BCF JV Property are included. The Coldwell
Complex is evolving as a major potential source of PGM and Cu in Canada.
     Marathon's collaborative work with Benton has been of mutual benefit.
Boundaries of mineralization have been expanded by Marathon's drilling, as
well as historical holes completed by Fleck, Anaconda and recent holes by
Benton. Substantial intersections that establish continuity of mineralization
on-section, across adjacent sections and down-dip have potential to add tonnes
to the upcoming reserve estimate.
     All of the samples were sent to Accurassay, an accredited laboratory in
Thunder Bay, Ontario, to be assayed using fire assay and other standard
techniques.
     David Good, P.Geo., VP of Exploration is Marathon's Qualified Person in
compliance with National Instrument 43-101 with respect to this release. Dr.
Good has reviewed the contents for accuracy and has approved this press
release on behalf of Marathon.

     About Marathon PGM Corporation:

     Marathon is in the process of completing a definitive feasibility study
on the Marathon PGM-Cu deposit, which is nearing completion. Marathon also has
development and exploration stage properties in southeastern Manitoba and
western Newfoundland and Labrador. Marathon's management plans to build on
this focus through the advancement of its properties, focusing on resource
development and by examining other strategic PGM and base metal opportunities
within Canada.

     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
     Tel: +1.416.987.0711
     gen@marathonpgm.com

     %SEDAR: 00020574E
For further information: David Leng, P.Geo: Tel: (416) 849-3432, Fax: (416)
861-1925, dleng@marathonpgm.com

.
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

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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6/10/2009(Marathon)Completes Purchase of Bamoos Land Package
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6/1/2009(Marathon)Better Metallurgy and Economics
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12/19/2008(Marathon)Project Receives Positive Feasibility Study
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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...
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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...
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8/11/2010Receives Initial Metallurgical
5/13/2010Announces 8,000 Meter Drilling
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4/27/2010Joseph G. Spiteri Appointed to Marathon PGM
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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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