Marathon PGM Corporation

Published : March 11th, 2009

Reports Positive Drill Results at Bird River

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

Marathon Reports Positive Drill Results at Bird River

     TORONTO, March 11 /CNW/ - Marathon PGM Corporation ("Marathon") (TSX:MAR)
today provided the latest assay results from the first phase of drilling at
the Ore Fault and Page Zones within the Bird River Project, southeast
Manitoba. The Bird River Project is a joint venture with Gossan Resources
(TSX-V:GSS); Marathon, the operator, has a 53 % stake.
     Marathon's drilling intersected two distinct types of mineralization: (i)
lenses of Nickel-Copper and Platinum Group Metals ("Ni-Cu-PGM"); and (ii)
Copper-Zinc-Silver ("Cu-Zn-Ag"). The first phase of the 2009 drilling program
completed a total of 971 m in seven holes; two holes (534 m) were drilled at
the Ore Fault Zone and five holes (437 m) were drilled at the Page Zone. Holes
reported in this release lie within the current resource pitshells and will
add to the resource base.

     Highlights:

     -   2.8 m intersection of Ni-Cu-PGM mineralization grading 2.66 % Ni,
         2.10 % Cu, 15.25 g/t Ag and 2.03 g/t PGM + Au in a sulphide lens at
         the Page Zone within hole MP-09-17
     -   2.5 m intersection of Cu-Zn-Ag mineralization grading 2.23 % Zn,
         0.74 % Cu and 50.47 g/t Ag in a sulphide lens at the Ore Fault Zone
         within hole MF-09-27
     -   On-section continuity mineralization established at Ore Fault over
         strike length of 350 m

     Phillip Walford, Marathon's President and CEO stated that, "It is
important to note that over a 22 km strike length, only 3 km have been drill
tested by Marathon. Two holes reported here include wide intersections of
mineralization; the most impressive includes 28 m and 17 m true width, cut by
hole MF-09-27 in the Ore Fault Zone."

     Assay Results - Ore Fault Zone
     -------------------------------------------------------------------------
     Hole        From   To   True   Pd    Pt    Au  Total   Ag   Zn   Cu   Ni
                   (m)  (m) Width (g/t) (g/t) (g/t)  PGM  (g/t)  (%)  (%)  (%)
                               (m)                 and Au
                                                    (g/t)
     -------------------------------------------------------------------------
     MF-09-27      95   99.3  4.3 0.46  0.11  0.02  0.59  1.83 0.03 0.15 0.45
     -------------------------------------------------------------------------
     MF-09-27     158    186   28 0.52  0.12  0.02  0.66  2.54 0.01 0.16 0.41
     -------------------------------------------------------------------------
     Including    158  159.9  1.9 0.46  0.09  0.01  0.56  0.84 0.01 0.08 1.15
     -------------------------------------------------------------------------
     MF-09-27     271    276    5 0.82  0.17  0.07  1.06  9.75 0.28 0.27 0.39
     -------------------------------------------------------------------------
     MF-09-27     277  299.2   17 0.01  0.01  0.04  0.05 19.06 1.39 0.35 0.02
     -------------------------------------------------------------------------
     Including  284.6  287.8  2.5 0.01  0.01  0.21  0.23 50.47 2.23 0.74 0.01
     -------------------------------------------------------------------------
     Including  294.2  299.2    4 0.01  0.01  0.02  0.04 27.16 3.17 0.51 0.02
     -------------------------------------------------------------------------



     Assay Results - Page Zone
     -------------------------------------------------------------------------
     Hole        From   To   True   Pd    Pt    Au  Total   Ag   Zn   Cu   Ni
                   (m)  (m) Width (g/t) (g/t) (g/t)  PGM  (g/t)  (%)  (%)  (%)
                               (m)                 and Au
                                                    (g/t)
     -------------------------------------------------------------------------
     MP-09-14      31   41.6 10.6 0.41  0.10  0.04  0.55  1.17 0.01 0.31 0.42
     -------------------------------------------------------------------------
     MP-09-15    70.2     76  5.8 0.38  0.09  0.02  0.49  2.58 0.02 0.20 0.34
     -------------------------------------------------------------------------
     MP-09-17    16.1   18.9  2.8 1.66  0.34  0.03  2.03 15.25 0.03 2.10 2.66
     -------------------------------------------------------------------------
     MP-09-17    27.5   29.4  1.9 0.83  0.18  0.01  1.02  3.20 0.01 0.53 1.47
     -------------------------------------------------------------------------
     MP-09-18     6.7     14  7.3 0.30  0.07  0.02  0.39  1.08 0.01 0.18 0.31
     -------------------------------------------------------------------------
     (1) MP-09-16 intersected no significant values

     Ore Fault Zone Mineralization and Drilling

     Drilling has focused on two distinct types of mineralization that occur
together, lenses of Ni-Cu-PGM mineralization dipping at 45-60 degrees and
vertically dipping lenses of Cu-Zn-Ag mineralization. The Cu-Zn-Ag
mineralization has so far been defined in holes over a north-south strike
length of 350 m, vertical depth of 250 m and remains open down-dip and to the
south.
     Hole MF-09-27 is a step-out hole on higher grade lenses of Ni-Cu-PGM and
Cu-Zn-Ag mineralization which converge at surface. Hole MF-09-27 was drilled
50 m to the west of MF-09-26 to test down-dip continuity of the mineralized
lenses.
     Holes MF-09-26 and MF-09-27 were drilled on section 4660 in an area that
returned good intersections of mineralization last year, (19.7 m intersection
of the lower Zn-Cu-Ag zone grading 4.61 % Zn, 0.74 % Cu, 51.1 g/t Ag and 0.15
g/t PGM and Au within a semi-massive sulphide lens in hole MF-08-07, see
Marathon press release dated 25-Mar-08). The intersections of Cu-Zn-Ag
mineralization in holes MF-09-26 and -27 are continuous over a vertical depth
of at least 150 m.

     Page Zone Mineralization and Drilling Focus

     2009 drilling at the Page Zone was completed in order to increase grade,
tonnage and improve the resource classifications. Holes were aimed to
intersect high grade material through the use of step-out and in-fill
drilling. Drilled holes were all shallow, typically intersecting
mineralization at a vertical depth of less than 60 m. These holes intersected
stacked sulphide lenses of Ni-Cu-PGM mineralization, similar to results from
last year's drilling, (15.5 m intersection of Ni-Cu-PGM mineralization grading
0.81 % Ni, 0.35 % Cu, and 0.67 g/t PGM and Au in a sulphide lens within hole
MP-08-08, see Marathon press release dated 26-May-08).
     MP-09-17 successfully tested both up-dip mineralization from MP-08-09 on
section 700E and massive sulphide lenses along from MP-08-06 20 m to the west.
MP-09-18 was a step-out hole that successfully tested up-dip massive sulphide
lenses from MP-08-07 on section 680E.

     2009 Phase Two Drilling

     Marathon is planning the second phase of drilling for the Bird River
Project to focus on high-priority targets with the continued aim of expanding
resources, improving grade and classifications.
     Marathon owns 53% of the Bird River Project, however, Marathon's
ownership will be increasing according to the dilution clause, as Gossan did
not participate in this program. The Bird River Project is very large,
covering a strike length of 22 km of the Bird River Sill. Numerous known
showings of Ni-Cu-PGM mineralization are present throughout the Bird River
Sill.
     To view details on the Bird River Project's NI 43-101 Technical Report,
please visit Marathon's website by clicking on
http://www.marathonpgm.com/pdf/BRSNI43101.pdf.
     To view cross sections and locations of the Page, Ore Fault and other
mineralized zones within the Bird River Project, please visit Marathon PGM's
website by clicking the following link
     http://www.marathonpgm.com/pdf/presentation030209.pdf

     QA/QC

     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 completed a definitive feasibility study on the Marathon PGM-Cu
deposit in December of 2008. 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

. <
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Marathon PGM Corporation

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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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8/16/2007- CEO Interview
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6/28/2007drilling discovers mineralization outside of resource open p...
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