Marathon PGM Corporation

Published : August 19th, 2008

Growth Continues, Ore Fault Property Acquisition Completed

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Keywords :   Canada | Copper | Growth | Nickel | Palladium | Platinum |

Marathon's Growth Continues, Ore Fault Property Acquisition Completed

     TORONTO, Aug. 19 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company", MAR-TSX) is pleased to announce that it has acquired the Ore Fault
Property ("OFP") from Bird River Mines Inc (CNQ:BRMI). The OFP consists of 19
claims which cover 446 hectares and is located at the eastern margin of
Marathon's Bird River Project, which is under option from Gossan Resources
(GSS:TSX.V). The Gossan portion of the Bird River Project consists of 65
claims which cover 8,781 hectares.

     Highlights:

     -   acquisition of OFP will be subject to a Joint Venture with Gossan
         Resources
     -   the entire Bird River Project covers 22 km strike length of
         prospective ground
     -   multiple exploration targets identified
     -   two NI 43-101 compliant resource estimates for Bird River Project to
         be delivered in Q4
     -   Marathon is well financed with $20 million cash

     "Acquisition of the Ore Fault gives us a very prospective land package in
the Bird River Sill," said Phillip Walford, President and CEO "and gives us an
excellent opportunity to develop the Page and Ore Fault resources in just the
first year of exploration."

     Completed and Planned Work

     The initial campaign on the OFP consisted of prospecting, surface
sampling and drilling of twenty-one holes (4,308m). Marathon will release an
NI 43-101 compliant resource estimate for the OFP in Q4. Marathon is planning
a detailed mapping program of the OFP in order to enhance the exploration
model and define further drill targets. Marathon's success to date has been
the result of careful planning, hard work and technical proficiency.
     Multiple lenses of massive sulphide have been intersected at both the
Page and Ore Fault Zones, including 15m grading 1.71% Ni at Ore Fault and 6.5m
grading 1.65% Ni at Page. The lenses are contained within a 'footprint' of
larger zones of lower grade mineralization, as is typical of other magmatic
sulphide deposits. There is good potential for discovering other massive
sulphide lenses along the 20km strike length of the Bird River Sill by
following the footprint as identified in historic drilling. As an example, at
Coppermine Bay, located 20 km west of Page Zone, disseminated mineralization
with up to 3g/t PGM+Au occurs along 800m of strike length. 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.
     Dr. David Good, Marathon's VP of Exploration, completed an extensive
3-year study with the Geological Survey of Canada on global magmatic nickel
and PGM deposits. His familiarity with these types of deposits plays a
critical role in further enhancing and refining the exploration at the Bird
River Sill.
     "We accelerated our exploration plans because results exceeded
expectations and in less than a year we have enough data to calculate a
resource at two locations," said David Good, VP of Exploration.

     OFP Purchase

     Once Marathon's interest in the OFP reached 70%, Marathon exercised its
option to require BRMI to sell the remaining 30% interest in the OFP. Marathon
purchased the outstanding 30% interest in the OFP for a purchase price of
$1,450,000. BRMI shall retain a 1.0 % net smelter return royalty (the "NSR")
in all minerals and metals extracted from the OFP.
     Marathon had earned a 70% interest in the OFP by making aggregate cash
payments of $250,000 to BRMI and carrying out, as operator, $600,000 in
exploration expenditures on the OFP before August 1, 2008.

     Gossan-Marathon Joint Venture

     Acquisition of the OFP will be part of a 50/50 Joint Venture between
Marathon and Gossan Resources. The earn-in for the joint venture requires
Marathon to make payments of $500,000 to Gossan and spend $3 million on the
Gossan property by 30-April-2011. The expenditures on the Gossan and Ore Fault
properties now exceed the $3 million vesting requirements and payment of the
remaining cash to Gossan will trigger formation of the joint venture. As
operator of the JV, Marathon has the options of continuing with the 50/50
joint venture with a dilution clause or elect within 120 days of the formation
of the JV to go to a 65% interest by assuming all costs for a feasibility with
an additional 5% for completing the financing.
     Phillip Walford, P.Geo., President and CEO, is Marathon's Qualified
Person in compliance with National Instrument 43-101 with respect to this
release. Mr. Walford 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 on track for completion in September.
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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Financings of Marathon PGM Corporation
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
8/15/2008Announces 2008 Q2 Financial Results
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
9/12/2013(Marathon)Marathon Trenching Adds 300m Strike-length to Mineralized Zo...
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, ...
Corporate news of Marathon PGM Corporation
7/28/2015Marret Resource Corp. Releases Q2 2015 Financial Statements
7/17/2015Marret Asset Management Inc. - Issuance of Early Warning Rep...
7/7/2015Marret Resource Corp. Announces Record Date and Distribution
6/29/2015Marret Resource Corp. Announces Results of Annual and Specia...
5/12/2015IIROC Trade Resumption - MAR
5/12/2015Marret Resource Corp. announces shareholder proposal
5/12/2015IIROC Trading Halt - MAR
5/6/2015Marret Resource Corp. Releases Q1 2015 Financial Statements
4/20/2015Marret Resource Corp. provides update
3/31/2015Marret Resource Corp. Releases 2014 Year End Financial State...
12/1/2014IIROC Trade Resumption - MAR
12/1/2014Marret Resource Corp. suspends dividend; Provides update
8/20/2014Marret Resource Corp. Announces Monthly Dividend
8/20/2014Marret Resource Corp. Announces Monthly Dividend
12/11/2013Completes Financing with Rambler and Announces Exploration P...
5/1/2013(Marathon)Marathon Intersects Multiple High-Grade Intervals while Unde...
1/16/2013Marret Resource Corp. announces participation in Cline Minin...
1/16/2013Marret Resource Corp. announces participation in Cline Minin...
10/6/2011(Marathon)Marathon Intersects Best Interval at the Leprechaun Gold Dep...
10/3/2011(Marathon)Marathon Continues to Expand the Leprechaun Gold Deposit wit...
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
3/17/2010Drilling Confirms Near Surface Gold Mineralization at Leprec...
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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