Marathon drilling intersects 14.6 g/t PGM and gold and 0.18% copper
over 4 m in the W Horizon
Toronto, Ontario, July 26, 2007 - Marathon PGM Corporation (MAR -- TSX) ("Marathon" or the "Company") is pleased to announce the most recent results from the 2007 exploration campaign at the Company's 100% owned Marathon PGM-Cu Project, located 10 km northwest of Marathon, Ontario. These results for 13 holes demonstrate the continuity of mineralization between the southern end of the Main Zone and the northern end of the Malachite area and provide economically interesting intercepts that bode well for increasing the resource in this area.
CLICK HERE TO VIEW MARATHON PGM/Cu PROJECT DRILL HOLE MAP.
Drilling is currently focused at the south end of the Main Zone and north of high-grade hole M-07-306 in order to add to the existing resource. At current, assays are pending for 20 holes.
High Grade W Horizon Drilling
Drilling to the north of the Malachite zone is being carried out to define the boundary of the W horizon and condemn ground for mine development. This drilling includes holes M-07-350, 351, 354, 356 and 359. The best intersection occurs in hole 359 with 14.6 g/t PGM and gold and 0.18% copper over 4 m. Additional holes will be required in the vicinity of this hole to define the size of this mineralized shoot. Hole M-07-350 is a step-out hole, which demonstrates continuation of the W horizon. Hole M-07-351 is 100 m west of 350 and defines a pinchout of mineralized gabbro; however, it contains a good intersection of near surface mineralized magnetite-rich gabbro that is continuous over greater than 50 m strike length. Holes M-07-354 and 356 are step out holes which test the edge of the high-grade W horizon.
Main Zone Drilling
Drilling at the south end of the Main zone is being carried out for step out and infill purposes and includes holes M-07-348, 349, 352, 353, 355, 357 and 358. The best intersection occurs in hole 353 with 1.33 g/t PGM and gold and 0.30% copper over 68 m. Positive news came from holes M-07-357, and -358 which are definition drill holes near the footwall contact of the Main Zone. Holes M-07-349 and 352 are definition holes to test the edge of Main Zone mineralization. Holes M-07-355 and 360 are infill drill holes that help to define the resource.
Table 1: Significant Drill Hole Results
Hole |
Zone |
From (m) |
To
(m) |
True Thickness (m) |
Pd (g/t) |
Pt (g/t) |
Au (g/t) |
Total PGM and gold (g/t) |
Cu (%) |
M-07-348 |
Main |
24 |
36 |
12 |
0.60 |
0.50 |
0.08 |
1.18 |
0.44 |
M-07-349 |
Main |
149 |
161 |
12 |
0.72 |
0.26 |
0.09 |
1.07 |
0.43 |
M-07-350 |
W |
115 |
121 |
6 |
1.06 |
0.67 |
0.02 |
1.74 |
0.01 |
M-07-351 |
W |
71 |
83 |
12 |
0.41 |
0.31 |
0.07 |
0.79 |
0.11 |
M-07-352 |
Main |
78 |
80 |
2 |
1.70 |
0.59 |
0.55 |
2.83 |
0.25 |
M-07-352 |
Main |
132 |
134 |
2 |
0.34 |
0.80 |
0.11 |
1.25 |
0.61 |
M-07-353 |
Main |
189 |
257 |
68 |
0.96 |
0.26 |
0.11 |
1.33 |
0.30 |
M-07-354 |
W |
44 |
52 |
8 |
0.62 |
0.22 |
0.10 |
0.94 |
0.11 |
M-07-355 |
Main |
256 |
304 |
48 |
0.55 |
0.23 |
0.10 |
0.88 |
0.06 |
includes |
Main |
256 |
274 |
18 |
1.17 |
0.42 |
0.14 |
1.73 |
0.08 |
M-07-356 |
W |
69 |
83 |
14 |
0.63 |
0.17 |
0.06 |
0.87 |
0.06 |
M-07-357 |
Main |
78 |
88 |
10 |
0.25 |
0.15 |
0.06 |
0.46 |
0.05 |
M-07-357 |
Main |
152 |
168 |
16 |
1.19 |
0.32 |
0.10 |
1.61 |
0.48 |
M-07-358 |
Main |
190 |
198 |
8 |
0.63 |
0.13 |
0.06 |
0.82 |
0.19 |
M-07-359 |
W |
85 |
89 |
4 |
9.70 |
4.47 |
0.43 |
14.60 |
0.18 |
M-07-360 |
Main |
224 |
230 |
6 |
0.07 |
0.24 |
0.65 |
0.96 |
0.22 |
M-07-360 |
Main |
240 |
248 |
8 |
0.11 |
0.29 |
0.77 |
1.17 |
0.27 |
M-07-360 |
Main |
274 |
288 |
14 |
0.25 |
0.10 |
0.03 |
0.38 |
0.13 |
Bird River SillMarathon exploration staff are currently in the field at the Bird River Project in Southeastern Manitoba. Good progress is being made investigating geophysical anomalies through prospecting and sampling prior to a planned drill program to take place in the fall.
All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ont., to be assayed using fire assay and other standard techniques.
All exploration work is being performed under the guidance and supervision of Phillip C. Walford, President and Chief Executive Officer of the Company, a professional geologist and Qualified Person as defined by National Instrument 43-101. Mr. Walford has approved the contents of this press release.
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.
In April 2007, Marathon entered into an option agreement with Gossan Resources on the Bird River Sill Ni-Cu and PGM property, located in Southeastern Manitoba. Marathon is conducting exploration activities through 2007 at the Bird River Sill and will be drilling at the Page Zone in late autumn.
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 co
uld 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 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.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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 
WWW.MARATHONPGM.COM      
FOR MEDIA INQUIRIES, PLEASE CONTACT:
VANESSA NAPOLI, VNAPOLI@RENMARKFINANCIAL.COM
TEL: +1.514.939.3989