Marathon PGM Corporation

Published : July 16th, 2008

Ore Fault Drilling Hits 4.5m of 1.32% Ni, 0.14% Cu, and 1.31g/t PGM and Gold, NI 43101 Compliant Res

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Keywords :   Canada | Copper | Diamond | Gold | Nickel | Platinum | Silver | Zinc |

Attention Business Editors:

Ore Fault Drilling Hits 4.5m of 1.32% Ni, 0.14% Cu, and 1.31g/t PGM and Gold, NI 43101 Compliant Resource Expected in Q4

     TORONTO, July 16 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company", MAR-TSX) is pleased to report the final results from the resource
development drilling program at the Ore Fault Zone ("OFZ") within the Bird
River Project, southeast Manitoba. Drilling at the OFZ intersected multiple
zones of Nickel-Copper-Platinum Group Metals ("Ni-Cu-PGM") mineralization and
Zinc-Silver-Copper ("Zn-Ag-Cu") mineralization.

     Highlights:

     -   35m intersection of Ni-Cu-PGM mineralization grading 0.41% Ni,
         0.10% Cu and 0.57g/t PGM and Au including a 4.5m intersection grading
         1.32% Ni, 0.14% Cu and 1.31g/t PGM and Au
     -   the NI43-101 compliant OFZ resource estimate will be completed in Q4

     "We have confirmed at least two continuous zones of mineralization along
150m of strike length to a depth of approximately 250m that are open to the
north and down dip. We are already planning the next phase of drilling to
continue to expand both zones," said David Good, VP of Exploration.

     Ore Fault North Zone - Drilling Results
     -------------------------------------------------------------------------
                                                    Total
                                                     PGM
                            True                     and
                 From   To  Width   Pd    Pt    Au   Au    Ag    Zn   Cu   Ni
       Hole      (m)   (m)   (m)  (g/t) (g/t) (g/t) (g/t) (g/t) (%)   (%)  (%)
     -------------------------------------------------------------------------
     MF-08-18  103.55  127  23.45  0.33  0.09 0.02  0.44   2.35 0.02 0.15 0.33
     -------------------------------------------------------------------------
     MF-08-18    129   132   3.00  0.10  0.02 0.12  0.24   2.43 1.56 0.09 0.21
     -------------------------------------------------------------------------
     MF-08-19    177   212  35.00  0.44  0.12 0.01  0.57   2.91 0.06 0.10 0.41
     -------------------------------------------------------------------------
     including   177  181.5  4.50  1.17  0.13 0.01  1.31   1.06 0.01 0.14 1.32
     -------------------------------------------------------------------------
     MF-08-19    246   251   5.00  0.02  0.01 0.02  0.05  10.86 0.12 0.28 0.01
     -------------------------------------------------------------------------
     MF-08-19    276   278   2.00  0.29  0.07 0.01  0.38   6.00 0.06 0.23 0.29
     -------------------------------------------------------------------------
     MF-08-19    279   297  18.00  0.04  0.02 0.01  0.07   9.72 0.64 0.24 0.03
     -------------------------------------------------------------------------
     including   279   281   2.00  0.25  0.04 0.07  0.36  13.40 2.52 0.43 0.15
     -------------------------------------------------------------------------
       and       293   297   4.00  0.02  0.01 0.01  0.04  18.10 0.77 0.48 0.02
     -------------------------------------------------------------------------
     MF-08-19    308   309   1.00  0.01  0.01 0.18  0.20  19.50 0.47 0.62 0.01
     -------------------------------------------------------------------------
     MF-08-19    312   313   1.00  0.02  0.02 0.04  0.07  16.00 0.14 0.46 0.01
     -------------------------------------------------------------------------
     MF-08-20    111   116   5.00  0.02  0.02 0.01  0.04   3.58 0.74 0.06 0.01
     -------------------------------------------------------------------------
     MF-08-21   50.2    53   2.80  0.07  0.02 0.02  0.11   5.46 0.44 0.15 0.07
     -------------------------------------------------------------------------
     MF-08-21     59    62   3.00  0.26  0.04 0.02  0.32   5.37 0.92 0.12 0.18
     -------------------------------------------------------------------------

     Ore Fault Mineralization and Resource Development Drilling

     The final holes of the campaign intersected multiple horizons of
Ni-Cu-PGM and Zn-Ag-Cu mineralization hosted within sulphide lenses that
typically dip 50 to 70 degrees to the west. Mineralization generally
correlates well between holes, along strike and across section. Individual
holes that provided significant information regarding mineralization are
MF-08-18, -19 and -20 and -21.
     Hole MF-08-19 displayed good down-dip continuity of Ni-Cu-PGM and
Zn-Ag-Cu mineralization from hole MF-08-07, which intersected 19.7m grading
4.6% Zn. Mineralization in MF-08-19 is approximately 70m downdip from
MF-08-07, which demonstrates the extensive thicknesses and widths of
mineralization found to date at the OFZ.
     In summary, the 2008 drilling campaign provided good correlation of
mineralization across sections and corroborates that mineralization remains
open down dip and to the north.
     Marathon's geological interpretation from the OFZ drilling reveals that
there are two mineralized systems. Ni-Cu-PGM sulphide mineralization is hosted
within north-west trending and moderately dipping (~50 to 70 degrees west)
ultramafic units of the Bird River Sill and north trending VMS-type Zn-Ag-Cu
mineralization hosted within near vertical quartz veins and associated
chlorite-garnet schist.
     Marathon is awaiting results of a Crone geophysical down-hole survey,
which was completed on 8 holes at the OFZ. The down-hole survey is a widely
used exploration tool to assist in detection of off-hole mineralization. A
geophysical anomaly to the south of the Ore Fault Zone will be tested in the
next drilling program planned for early 2009.
     Semi-massive to massive sulphide lenses at the OFZ exhibit higher metal
values. Marathon used a tight drill density in order to properly define these
metal rich lenses and provide higher degrees of confidence of the OFZ resource
estimate, which is expected to be completed in the fourth quarter of 2008.
     Marathon has an option to earn 100% of the 446 hectare Ore Fault Property
from Bird River Mines Inc (see MAR release of January 7, 2008). The Ore Fault
Property is part of a larger area called the Bird River Project that consists
of 7,301 ha that Marathon has an option to earn up to 70% of this project from
Gossan Resources (see MAR release of April 17, 2007). The Bird River Project
covers a strike length of 22km and has numerous known showings of Ni-Cu-PGM
mineralization. Marathon's drilling has only tested the easternmost 3km of the
Bird River Project.

     To view a drill map please click on
     http://www.marathonpgm.com/newsmaps/2008-33.jpg

     Samples consist of NQ-size drill core that are split by Diamond saw on
site, prepared at ALS Chemex Vancouver, and assayed by fire assay with an
ICP-OES finish (for Pt, Pd and Au) and acid dissolution and ICP-OES finish for
base metals. Marathon's quality assurance-quality control (QA-QC) program
consists of insertion of standards of known PGM content and duplicates every
30 samples. After sampling, the remaining half core is retained on site for
future verification and reference purposes.
     David Good, P.Geo., VP 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 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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