TORONTO, April 27 /CNW/ - Marathon PGM Corporation (MAR-TSX) ("Marathon") today announced Joseph G. Spiteri, P.Geo., has been appointed to the Company's Board of Directors.
With his appointment, Mr. Spiteri joins current directors Phillip C. Walford, Jim Frank, Page Chilcott, George Faught and Greg Hahn. As a former Senior Manager or Officer of several mining companies (Placer Dome, Northgate Explorations, Lac Minerals and Campbell Resources), Mr. Spiteri brings more than 30 years of extensive experience in evaluations, development and operations to the Marathon Board. During his career, Joe has helped build several deposits from exploration stage projects through development into producing mines. He is a member of The Canadian Institute of Mining and The Association of Professional Geoscientists of Ontario. Mr. Spiteri earned his Honours Bachelor's of Science degree in earth science from the University of Toronto in 1976.
"Joe's experience in mine building and project commissioning will add value to our Board and to the company. I am very pleased we can have him join our team at this promising time of Marathon's growth," said Phillip Walford, Marathon's President and Chief Executive Officer.
Phillip Walford, P. Geo., President and CEO, is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Mr. Walford has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.
About Marathon PGM Corporation:
Marathon is exploring resource development potential in the immediate vicinity of the Marathon Deposit to expand the life of the planned large tonnage, open pit mining operation. The Marathon Deposit is one of the largest PGM-Cu reserves in Canada and is expected to grow with the development of additional nearby resources. Marathon's optimized P+P reserve of 91.45 million tonnes grading 0.832 g/t Pd, 0.237 g/t Pt, 0.085 g/t Au, 0.247% Cu and 1.44 g/t Ag, contains 2.44 million ounces of Pd, 696,000 ounces of Pt, 251,000 ounces of Au, 497 million lbs of Cu and 4.23 million ounces of Ag. Marathon also has development and exploration stage properties in southeastern Manitoba and western Newfoundland respectively. Marathon's Management plans to build on its experience through the advancement of its properties and by examining other strategic opportunities.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. 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, 2009.
Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.
SOURCE MARATHON PGM CORPORATION
For further information: For further information: David Leng, P.Geo:. Tel: (416) 849-3432, firstname.lastname@example.org