Marathon PGM Corporation

Published : August 29th, 2007

extends mineralized zone to 800 m at the Coppermine Zone, Bird River Property, SE Manitoba

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Keywords :   Copper | Gold | Iron | Nickel | Palladium | Platinum |

Marathon extends mineralized zone to 800 m at the Coppermine Zone,
Bird River Property, SE Manitoba
 

Toronto, Ontario, August 29, 2007 - Marathon PGM Corporation (MAR -- TSX) ("Marathon" or the "Company") is pleased to provide an update of ongoing exploration at the Bird River Sill property ("Bird River").  Prospecting and data compilation of the Bird River property is proceeding over several key areas, including the Coppermine, Page East, Page West, and Galaxy Zones as well as 8 predefined airborne geophysical anomalies.  Multiple successes have arisen from the prospecting and exploration program.

Marathon has identified an 800 m zone of mineralization in the Coppermine Zone - located in the western end of the Bird River property, and confirmed mineralization approximately 130 m east of the Page East zone - located in the northeast end of the Bird River property.  The Coppermine and Page Zones are on-strike 20 km apart from each other and separated by highly prospective ground which is currently being explored.  It is clear that mineralization is more extensive than first thought in both zones and they are now priority drill targets for planned drilling in the first quarter of 2008.  Ground checking 3 of the 8 geophysical anomalies has discovered iron sulphide mineralization, with assays pending on the samples taken. 

THIS PRESS RELEASE CONTAINS A LOCATION MAP.  CLICK HERE TO VIEW PDF VERSION OF THIS PRESS RELEASE.

Finances
Marathon is well funded to complete the feasibility study on the 100% owned Marathon PGM-Cu property.  The Company has no money invested in high-risk investments.  All funds are in a series of 30-day bankers acceptance notes from the Toronto Dominion Bank.

Coppermine Zone
Prospecting and assays from grab samples has extended the strike length of mineralization north east of the Coppermine Zone to 800 m.  Marathon initially reported this mineralization (MAR release 11-Jun-07) at the west end of the Coppermine Zone, with reported values of up to 0.21% nickel, 0.44% copper, 1.21 g/t platinum and 1.39 g/t palladium.  A single hole located at the east end of the Coppermine Zone drilled by Canex Placer Ltd in 1973 (assessment file report 91832, Manitoba Mining District) contained an intersection grading 0.24% nickel, 0.42% copper, 1.02 g/t platinum and 1.19 g/t palladium over 12.2 m.  Additional  prospecting along strike from this hole yielded a total of 77 grab samples, of which 20 returned values of greater than 0.5 g/t platinum plus palladium, including 8 samples in the range of 1-3 g/t platinum plus palladium.

Page East Zone
Prospecting by Marathon has confirmed the extension of Page Zone mineralization at the footwall of the Bird River Sill by a distance of 130 m to the east.  The best assays from grab samples include 0.90% copper, 0.09% nickel and 0.73 g/t platinum plus palladium in sample C377551 and 0.11% copper, 0.42% nickel and 0.58 g/t platinum plus palladium in sample C377552.  The additional sampling has expanded the prospective strike length of Page Zone to over a kilometer.

Phillip Walford, President and CEO, stated "These results are very positive and have far exceeded our expectations.  It will be very interesting to see how many of the mineral showings in the 20 km between the Page and Coppermine Zones develop into deposits."

Geophysical Anomalies
A total of eight airborne geophysical anomalies, identified by an EM/magnetic survey flown in 2005, have been investigated by prospecting.  These geophysical anomalies span an east to west distance of 14 kilometres and are located immediately north of the Bird River Sill.  Prospecting has discovered iron sulphides at 3 of the 8 geophysical anomalies, named "D", "E" and "F". 

Following these recent prospecting successes, Marathon has staked additional claims around the original  joint venture block held with Gossan Resources Limited.

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.

In April 2007, Marathon entered into an option agreement with Gossan Resources on the Bird River Sill Ni-Cu and PGM property, located in Southeastern Manitoba.  Marathon is conducting exploration activities through 2007 at the Bird River Sill and is planning a drilling campaign.

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.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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:  +1.905.537.5377  
FAX: +1.416.861.1925 
WWW.MARATHONPGM.COM      

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

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, BIRD RIVER - ZN & CU ZONE, BIRD RIVER - NI ZONE, MARATHON 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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Financings of Marathon PGM Corporation
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Nominations of Marathon PGM Corporation
8/8/2007 appoints Raymond Mason as VP of Operations
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8/2/2007 Announces 2007 Q2 Financial Results
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Project news of Marathon PGM Corporation
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10/7/2009(Geordie Lake)Development Plans for Geordie Lake Deposit
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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...
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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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