Marathon PGM Corporation

Published : September 08th, 2009

Marathon's Drilling Pushing New Boundaries

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Marathon's Drilling Pushing New Boundaries

TORONTO, Sept. 8 /CNW/ - Marathon PGM Corporation ("Marathon" or "the Company", MAR-TSX) today announced the second set of results from the 2009 campaign at the Marathon PGM-Cu Project.

    Highlights:
    
    -   hole M-09-480 intersected 67.7 m grading 0.47 g/t PGM and Au and
        0.25 % Cu in the new zone located within the pit boundary
    -   these holes test the new 4800 zone of mineralization on the eastern
        margin of the pit boundary

"It's important to note that two of the holes confirm the connection of the new zone to previously defined mineralization," said David Good, VP of Exploration.

Drilling Focus

Holes M-09-474 to M-09-480 are near the eastern edge of the pit shell to test west dipping outcropping mineralization on strike and down dip.

Hole M-09-480 is collared in the new zone of mineralization, within 50 m of the pit shell boundary and intersected a thick sequence of PGM-Cu mineralization. Twenty five meters to the north, holes M-07-474 and -475 are situated 50 m west and east of previously announced hole M-09-473 (please see Marathon release of 20-Aug-09). On adjacent sections to the north by 25 and 50 m, holes M-09-479 and -477, respectively, encountered mineralization at surface and traced it down dip. M-09-477 connected with the up dip extension of previously identified mineralization and joined the new zone to previously modeled mineralization.

In summary, the reported holes successfully confirmed the on strike and down dip extensions of mineralization of the 4800 zone. The new zone is wedge shaped which is 200 m wide at the base and up to 125 m along strike.

Marathon has designed the 2009 drilling campaign to improve drill density, and resource classifications. Increasing the proportion of measured and indicated resources directly translates into proven and probable reserves.

    Marathon Drilling: Initial Results
    ----------------------------------
    -------------------------------------------------------------------------
                               True                         Total PGM
               From    To   Thickness    Pd     Pt     Au     and Au     Cu
    Hole        (m)    (m)      (m)    (g/t)  (g/t)  (g/t)     (g/t)     (%)
    -------------------------------------------------------------------------
    M-09-474      7     13        6     0.19   0.09   0.05     0.33     0.12
    -------------------------------------------------------------------------
    M-09-475      7     15        8     0.43   0.13   0.10     0.65     0.38
    -------------------------------------------------------------------------
    M-09-477   1.25      5     3.75     0.89   0.36   0.18     1.43     0.13
    -------------------------------------------------------------------------
    M-09-477     13     33       20     0.15   0.07   0.04     0.27     0.14
    -------------------------------------------------------------------------
    M-09-479     23     33       10     0.55   0.16   0.06     0.76     0.18
    -------------------------------------------------------------------------
    M-09-480   2.32     70     67.7     0.31   0.09   0.07     0.47     0.25
    -------------------------------------------------------------------------
    includes   2.32     26     23.7     0.40   0.10   0.06     0.56     0.32
    -------------------------------------------------------------------------
    or           18     26        8     0.59   0.19   0.10     0.87     0.47
    -------------------------------------------------------------------------
    and          64     70        6     0.49   0.08   0.13     0.70     0.44
    -------------------------------------------------------------------------
    (1) Holes M-09-476 and -478 intersected no significant values

Please click on http://www.marathonpgm.com/newsmaps/2009-20.jpg to view a drill map.

Reserve Statement and Mine Plan

Marathon delivered an updated resource statement (see Marathon Press Release dated August 20, 2009) as part of the on-going optimization of the definitive feasibility study ("DFS") expected in Q4. The optimized DFS will include new mineable reserves, an updated mine plan and capital expenditure figures.

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 currently optimizing an earlier definitive feasibility study on the Marathon PGM-Cu deposit, which was completed in December of 2008. Marathon also has development and exploration stage properties in southeastern Manitoba and western Newfoundland, respectively. Marathon's management plans to build on its experience through the advancement of its properties and by examining other strategic opportunities.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. 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, 2008.

Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

    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

. <

Marathon PGM Corporation

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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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1/25/2007Measured and Indicated In-Pit Resource Grows 39%
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