Marathon PGM Corporation

Published : September 21st, 2007

Samples 7.09 g/t PGM and gold,

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Keywords :   Copper | Gold | Growth |

Marathon Samples 7.09 g/t PGM and gold, 0.69% Cu, 1.88% Ni, 2.11% Pb and 2.12% Zn at Steel Mountain Property

Toronto, Ontario, September 21st, 2007 - Marathon PGM Corporation (MAR -- TSX) ("Marathon" or the "Company") is pleased to announce the initial results from the 2007 exploration campaign on the recently staked Steel Mountain property, located in western Newfoundland.  Marathon has received the highest ever recorded assay values for the Steel Mountain Complex and confirmed historical values of PGM and polymetallic mineralization in two known showings.  Marathon has also identified a number of new targets that warrant future exploration and plans to continue prospecting and geological mapping through the rest of the year, with an airborne geophysical survey under consideration for the spring of 2008.

Prospecting Confirms Historical Values and Finds New Targets
Marathon compiled historical data and initiated prospecting of the Lower Sheep Brook ("LSB") and Upper Sheep Brook ("USB") areas during the summer of 2007.  LSB mineralization consists of two narrow (up to 20cm) tapered lenses of massive sulphide exposed over a trenched area 5 m by 8 m in size.  Grab samples collected in 2007 from the LSB showing returned assays of up to 2.72g/t Pt, 4.3g/t Pd, 17.7% Cu, 0.15% Co, 1.88% Ni, 2.88% Pb and 2.58% Zn.

The USB showing, located 3.5 km northeast of the LSB showing, consists of a 40 cm wide massive sulphide zone exposed over 2.5 m within anorthosite.  The 2007 grab samples collected from the USB showing returned assays of up to 0.47g/t Pt, 0.09g/t Pd, 0.66% Cu, 0.04% Ni, 0.1% Pb and 0.07% Zn.  The 2007 grab sample assay results verify historic assay results and, as in the case of the LSB showing, significantly improve upon historic Pt and Pd values.

THIS PRESS RELEASE CONTAINS A TABLE AND MAPS.  TO VIEW FULL DOCUMENT, PLEASE CLICK HERE.

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.

As part of its growth strategy, in April 2007, Marathon entered into an option agreement with Gossan Resources on the Bird River Sill PGM and Cu-Ni property, located in southeastern Manitoba.  Prospecting and data compilation of the Bird River property is focused over several key areas, including the Coppermine, Page East, Page West and Galaxy Zones.  Marathon can earn-in up to a total 70% interest by completing a bankable feasibility study and arranging project financing. 

In August 2007, Marathon acquired the Steel Mountain PGM-Polymetallic property in western Newfoundland and has commenced the initial phase of exploration on this 227.5 km2 property.  The Company holds a 100% interest in the Steel Mountain property, located 25 km southwest of the town of Stephenville, western Newfoundland.  The Steel Mountain property is underlain by the early to mid-Proterozoic aged Steel Mountain Complex. The complex, consisting of variably deformed and altered anorthositic to gabbroic rocks, lies in fault contact with the Long Range Fault. The Long Range Fault runs through Newfoundland and is known to have gold mineralization associated with the Fault and with splays off of the Fault.  Sporadic past prospecting has yielded historical grab sample assays of up to 1.48g/t Pt, 1.08g/t Pd, 1.17% Ni, 0.62% Cu and 0.11% Co for the Lower Sheep Brook showing and 1.78g/t Pt, 1.19g/t Pd, 1.10% Ni, 0.29% Co and 1.23% Zn for the Upper She ep Brook showing.  Magnetite pods and Au-bearing quartz veins hosted by the Steel Mountain anorthosite adjacent to Marathon's property has yielded over 500,000 tonnes of magnetite and up to 162.7g/t Au in grab samples and 3.04g/t Au over 40cm in drill core.  Future exploration plans include continued prospecting, stream and lake sediment sampling, and mapping in the fall of 2007 followed by an airborne geophysical survey over the entire property in the spring of 2008.

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 op inions 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

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            

 

For media inquiries, please contact:

VANESSA NAPOLI, VNAPOLI@RENMARKFINANCIAL.COM
TEL: +1.514.939.3989


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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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
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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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