Marathon Completes 2008 Drilling Program on BCF JV Property, Intersecting 1.41g/t PGM and Au and 0.34% Cu Over 100m



    TORONTO, Sept. 4 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company", MAR-TSX) announced today the latest drilling results from the
Bamoos-Claw Lake-Four Dams ("BCF") Property, which is being explored under an
option and joint venture agreement with Benton Resources (TSX.v:BTC). The BCF
property adjoins the northern margin of the Company's Marathon Project north
of Marathon, Ontario.

    
    Highlights:

    -   hole MB-08-42 intersected 100m grading 1.41g/t PGM and Au and
        0.34% Cu
    -   hole MB-08-33 intersected 92m grading 1.32g/t PGM and Au and 0.30% Cu
    -   BCF drilling will be added to upcoming reserve estimate
    -   delineating the northern margin of mineralization is important for
        mine planning purposes
    

    Significant results from the BCF drilling include two intersections of
92m and 100m intersection at grades slightly better than the average for the
Main Zone. The first intersection in hole MB-08-33 consists of 92m grading
0.30% Cu and 1.32g/t PGM and Au including 27m grading 0.54% Cu and 3.00g/t PGM
and Au. The second intersection in hole MB-08-42 consists of 100m grading
0.34% Cu and 1.41g/t PGM and Au including 16m grading 0.67% Cu and 3.01 g/t
PGM and Au. This intersection is significant as it occurs 35m south along
strike of hole MB-08-10 which also contained 100m of mineralization.
    The joint venture with Benton Resources has been of great importance to
Marathon. The JV agreement allows for mining of the boundary pillar that would
otherwise be required by law to be left between Marathon's and Benton's
properties. Consequently, the resources to the north and south of this
boundary will be added to the upcoming reserve estimates. Marathon has the
right to mine ore up to 200m north of the BCF boundary prior to the JV being
completed.
    The Marathon resource has grown very quickly due to intersections of very
thick zones of mineralization. A number of greater than 100m intersections
will be added to the existing resource, which will expand the resource
tonnage.
    "Drilling and trenching has enabled us to sort out the complicated
geology on the JV property and confirm the continuation of the Main Zone by
first tracing it down dip and then following it north at depth," said David
Good, VP of Exploration.

    
    Results for best intersections from Marathon-Benton JV Drilling
    ---------------------------------------------------------------

    -------------------------------------------------------------------------
                                 True                         Total PGM
                From    To    Thickness  Pd       Pt     Au     and Au   Cu
    Hole         (m)    (m)      (m)    (g/t)   (g/t)  (g/t)    (g/t)    (%)
    -------------------------------------------------------------------------
    MB-08-24     115    121        6    1.06    0.23    0.07    1.36    0.10
    -------------------------------------------------------------------------
    MB-08-28     320    354       34    0.42    0.13    0.05    0.60    0.27
    -------------------------------------------------------------------------
    MB-08-32       2     38       36    0.81    0.22    0.09    1.13    0.30
    -------------------------------------------------------------------------
    MB-08-33      38    130       92    0.96    0.27    0.10    1.33    0.30
    -------------------------------------------------------------------------
    MB-08-34    1.32     28    26.68    2.17    0.66    0.17    3.00    0.54
    -------------------------------------------------------------------------
    MB-08-35    1.57      6     4.43    1.30    0.36    0.16    1.81    0.27
    -------------------------------------------------------------------------
    MB-08-35      14     40       26    0.70    0.19    0.05    0.94    0.16
    -------------------------------------------------------------------------
    MB-08-38     151    163       12    1.02    0.22    0.09    1.32    0.12
    -------------------------------------------------------------------------
    MB-08-38     334    346       12    0.72    0.22    0.08    1.01    0.24
    -------------------------------------------------------------------------
    MB-08-39      35     39        4    1.41    0.45    0.17    2.03    0.57
    -------------------------------------------------------------------------
    MB-08-39      45     63       18    1.50    0.32    0.09    1.91    0.37
    -------------------------------------------------------------------------
    MB-08-41     172    176        4    1.04    0.27    0.08    1.38    0.39
    -------------------------------------------------------------------------
    MB-08-42     156    256      100    0.98    0.32    0.11    1.41    0.34
    -------------------------------------------------------------------------
    MB-08-42     158    164        6    1.37    0.36    0.18    1.90    0.50
    -------------------------------------------------------------------------
    MB-08-42     176    192       16    2.07    0.73    0.21    3.01    0.67
    -------------------------------------------------------------------------
    MB-08-42     206    212        6    1.18    0.34    0.13    1.65    0.51
    -------------------------------------------------------------------------
    MB-08-42     242    252       10    1.28    0.37    0.14    1.79    0.39
    -------------------------------------------------------------------------
    (1) Holes MB-08-25, -29, -30, -36, -37 and -40 intersected no significant
        values and holes 26, 27, 28, 31, and 33 intersected lower values.
    

    Please click on http://www.marathonpgm.com/newsmaps/2008-40.jpg to view a
drill map.
    In general, BCF drilling intersected mineralization that is
characteristic of the Marathon deposit. Mineralization was found both
on-or-near-surface as well as deeper and downdip to the west. Outcropping
mineralization is being trenched and mapped, as Marathon has done extensively
to the south on the Marathon project. Trenching north of section 6350 has
defined extensions of mineralization, which will assist next year's drilling
campaign aimed at outlining new resources.
    Drilling of the BCF property has provided Marathon with additional
resources for the DFS, as well as furthering exploration. Details of geology
assist and guide exploration, while the mineralized boundaries will be used
for mine development and planning. The total PGM and Cu resource now held by
Marathon in the Coldwell Complex exceeds 120 measured and indicated million
tonnes. This resource will increase when the results of this year's drilling
on the Marathon Property and BCF JV Property are included. The Coldwell
Complex is evolving as a major potential source of PGM and Cu in Canada.
    Marathon's collaborative work with Benton has been of mutual benefit.
Boundaries of mineralization have been expanded by Marathon's drilling, as
well as historical holes completed by Fleck, Anaconda and recent holes by
Benton. Substantial intersections that establish continuity of mineralization
on-section, across adjacent sections and down-dip have potential to add tonnes
to the upcoming reserve estimate.
    All of the samples were sent to Accurassay, an accredited laboratory in
Thunder Bay, Ontario, to be assayed using fire assay and other standard
techniques.
    David Good, P.Geo., VP of 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, which is nearing completion. 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:

For further information: David Leng, P.Geo: Tel: (416) 849-3432, Fax:
(416) 861-1925, dleng@marathonpgm.com

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