Bird River Resource Expansion Continues



    TORONTO, Feb. 27 /CNW/ - Marathon PGM Corporation ("Marathon") (TSX:MAR)
is pleased to report the initial assay results from the first phase of
drilling at the Ore Fault Zone within the Bird River Project, southeast
Manitoba. The Bird River Project is a joint venture with Gossan Resources
(TSX.v-GSS). 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"). These holes are within
the current resource pitshell and will add to the resource base.

    
    Highlights:
    -   12.3 m intersection of Ni-Cu-PGM mineralization grading 0.33 % Ni,
        0.13 % Cu, and 0.73 g/t PGM and Au in a sulphide lens within hole
        MF0926
    -   5.0 m intersection of Cu-Zn-Ag mineralization grading 3.79 % Zn,
        0.56% Cu and 13.73 g/t Ag in a sulphide lens within hole MP0926
    -   on-section continuity of higher grade mineralization established at
        Ore Fault

    "We successfully developed two resources for the Bird River Project in our
first year. Now, our focus is to expand these resources and develop the higher
grade lenses within these deposits," said Phillip Walford, President and CEO.

    Ore Fault Zone - Assay Results
    -------------------------------------------------------------------------
    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)
    -------------------------------------------------------------------------
    MF0926    117 129.3  12.3 0.52  0.14  0.07   0.73  2.25   tr   0.13 0.33
    -------------------------------------------------------------------------
    MF0926  134.1  140   5.0   tr    tr    tr     tr  13.73  3.79  0.56  tr
    -------------------------------------------------------------------------
    (1) "tr" denotes trace concentrations
    

    Ore Fault Zone Mineralization and Drilling Focus

    Drilling focused on two types of mineralization that occur together,
Ni-Cu-PGM mineralization and Cu-Zn-Ag mineralization. The Cu-Zn-Ag
mineralization dips vertically and has been traced over a strikelength of 350
m.
    Hole MF0926 is a step out hole on higher grade lenses of Ni-Cu and
Cu-Zn-Ag mineralization which converge at surface. Hole MF0927 was drilled 50
m to the west to test downdip continuity of the mineralized lenses. Assays are
pending for hole MF0927. During the first phase of drilling, holes MF0926 and
MF0927 were completed in order to increase tonnage and improve the resource
classifications. Holes MF0926 and MF0927 were drilled on section 4660 and
separated by a distance of 50 m, in an area that returned good intersections
of mineralization last year, (19.7m intersection of the lower Zn-Cu-Ag zone
grading 4.61% Zn, 0.74% Cu, 51.1g/t Ag and 0.15g/t PGM and Au within a
semi-massive sulphide lens in hole MF0807, see Marathon press release of
25-Mar-08).

    Page Zone Mineralization and Drilling Focus

    Drilling at the Page Zone was completed in order to increase tonnage and
improve the resource classifications. Holes were aimed at high grade material
with step-out and in-fill drilling. Drilled holes were all shallow and
typically intersected mineralization at less than 60 m depth. These holes
intersected stacked sulphide lenses of Ni-Cu-PGM mineralization, which is
similar to results from last year's drilling, (15.5m intersection of Ni-Cu-PGM
mineralization grading 0.81% Ni, 0.35% Cu, and 0.67g/t PGM and Au in a
sulphide lens within hole MP0808, see Marathon press release of 26-May-08).
    The first phase of the 2009 drilling program is now complete with a total
of 971 m in 7 holes. Two holes (534 m) were drilled at the Ore Fault Zone,
five holes (437 m) were drilled at the Page Zone. Marathon is presently
awaiting assays for 5 holes drilled at the Page Zone and 1 hole at Ore Fault.
    The Bird River Project is a joint venture with Gossan Resources
(TSX.v-GSS). Marathon currently owns 53% of the Project and is able to earn a
larger ownership by continuing to advance the project if Gossan elects not to
participate in exploration programs. 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. Marathon's drilling to date has only tested 3 km of the east end of the
Bird River Project.
    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. 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.

    %SEDAR: 00020574E




For further information:

For further information: On Behalf of Marathon PGM: "Phillip C.
Walford", Phillip C. Walford, P.Geo., President, Chief Executive Officer, Tel:
(416) 987-0711, gen@marathonpgm.com; For more information, please contact:
David Leng, P.Geo., Tel: (416) 849-3432, Fax: (416) 861-1925,
dleng@marathonpgm.com

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