Marathon discovers additional mineralization outside current resource pit,
10m of 4.51 g/t PGM and gold and 0.43% copper

Toronto, Ontario, October 22nd, 2007 - Marathon PGM Corporation (MAR -- TSX) ("Marathon" or the "Company") is pleased to announce the most recent drill results from the 2007 exploration campaign at the Company's 100% owned Marathon PGM-Cu Project, located 10 km northwest of Marathon, Ontario.

Phillip Walford, President and CEO, stated "Results from the 2007 campaign have been very consistent, which is of great benefit when building new resources. With 180 drill holes to add to the resource this fall, and the addition of drill intercepts outside of the existing resource, this is expected to have a positive impact on the new resource calculation."

Drilling accomplished a number of goals in providing definition of the footwall and more importantly expanding the known extent of mineralization.  Holes M-07-393, 394, 395, and 397 were drilled in order to develop resources south and west of the existing resource pit.  Mineralization was intersected in these holes up to 200 m beyond the existing resource pit, further demonstrating the importance of these holes.  Holes M-07-389, 399 and 402 were drilled in order to test the western extent of mineralization at depth, which thickens substantially - an aspect discovered as a result of drilling in 2006.  Holes M-07-389, 399 and 402 all successfully intersected extremely thick zones (up to 120 m) of Main Zone mineralization and also discovered extensions of mineralization below the existing resource pit.

 A number of intersections into the Magnetite horizon were encountered. There are no resources estimates on this type of mineralization, which overlies the deeper part of the mineralization and extends to the west. Some of this material is included as waste in the current designed pit. As a result of intercepts in this material, we anticipate an increase in the resource and reduction in the overall strip ratio of the current pit.

A large unexplored area open to the south of hole M-07-391 and north of M-07-394 (please see diagram) will be drilled by Marathon in January of 2008 with the intent of further increasing the resource.

Holes drilled outside of the existing resource intersected appreciable mineralization above the current cut-off grade and thickness.  Incorporation of these holes into the existing resource data base are expected to further increase beyond that which has been reported to date.

Table 1: Significant Drill Hole Results

(To see a map of drillholes, please go to http://www.marathonpgm.com/newsmaps/2007-32.jpg)

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.

All exploration work is being performed under the guidance and supervision of Phillip C. Walford, President and Chief Executive Officer of the Company, a professional geologist and Qualified Person as defined by National Instrument 43-101.  Mr. Walford has approved the contents of this press release.

About Marathon PGM Corporation
The Company has a 100-per-cent interest in the Marathon PGM -- Cu project, located about 10 kilometers north of Marathon, Ont. The project is currently undergoing a definitive feasibility study and a 35,000 m drill campaign. As announced previously, the company has completed a revised preliminary economic assessment in compliance with the provisions of National Instrument 43-101, showing a measured resource of 39.2 million tonnes containing 1.6 million ounces of PGM and gold and 285 million pounds of copper, and an indicated resource of 28.9 million tonnes containing 1.1 million ounces of PGM and gold and 178 million pounds of copper. An additional low-grade resource was also identified in the report completed by P&E Mining Consultants Inc. and filed on SEDAR on April 5, 2007.

As part of its growth strategy, in April 2007, Marathon entered into an option agreement with Gossan Resources on the Bird River Sill PGM and Cu-Ni property, located in southeastern Manitoba.  Prospecting and data compilation of the Bird River property is focused over several key areas, including the Coppermine, Page East, Page West and Galaxy Zones.  Marathon can earn-in up to a total 70% interest by completing a bankable feasibility study and arranging project financing. 

In August 2007, Marathon acquired the Steel Mountain PGM and Cu-Ni property in western Newfoundland and Labrador and has commenced the initial phase of exploration on this 227.5 km2 property.  The Company holds a 100% interest in the Steel Mountain property.

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, 2006. 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 

For more information, please contact:
David Leng, P.Geo: dleng@marathonpgm.com
Tel:  +1.416.849.3432  
Fax: +1.416.861.1925 

FOR MEDIA INQUIRIES, PLEASE CONTACT:
VANESSA NAPOLI, VNAPOLI@RENMARKFINANCIAL.COM
TEL. : +1.514.939.3989