Marathon completes 40,000 m drilling campaign and expects new mineral resource estimate in November 2007



    TORONTO, Oct. 4 /CNW Telbec/ - Marathon PGM Corporation (MAR -- TSX)
("Marathon" or the "Company") is pleased to announce completion of the
40,000 m drilling campaign, and the most recent drill results from the 2007
exploration campaign at the Company's 100% owned Marathon PGM-Cu Project,
located 10 km northwest of Marathon, Ontario.
    Phillip Walford, President and CEO, stated "Completing the largest
drilling campaign on the Marathon property is a true milestone. The results
from the 2007 drilling will be added to the upcoming resource estimate, which
we expect in November. With over 180 holes to add to the existing database and
over 30 holes yet to be released, we are all looking forward to seeing the new
resource."

    W Horizon Drilling

    The best intersections were in holes M-07-376, which contained 8 m of
3.47 g/t PGM and gold and 0.005% copper and hole M-07-378, which intersected
2 m of 6.25 g/t PGM and gold and 0.005% copper. These holes traced the
continuity of the W horizon a further 300 m downdip, adding significantly to
the potential to expand the resource, since these holes are less than 50 m
north of the high-grade mineralization intersected in hole M-07-306 (see MAR
release of April 19, 2007).

    Main Zone Drilling

    Drilling in the Main Zone returned assay values, and provided information
regarding the extent of the mineralized envelope and the topography of the
footwall. Holes M-07-377, -378, -379, -380, -386 and -387 intersected multiple
horizons of mineralization, generally with grades representative of the Main
Zone. These holes intersected mineralization outside of the existing resource
pit, with the potential of extending the resource up to 300 m downdip as
demonstrated by hole M-07-378. Holes M-07-384 and -385 intersected lower
grades but demonstrate that the mineralized envelope is larger than expected.
    Holes M-07-382 and -383 defined an inflection point in the footwall rocks
characterized by narrowing mineralization. Hole M-07-381 was a condemnation
hole required for mine planning.
    (To see a map of drillholes, please go to
http://www.marathonpgm.com/newsmaps/2007-30.jpg)

    
    Table 1: Significant Drill Hole Results
    -------------------------------------------------------------------------
                               Thick-                      Total PGM
     Hole      Zone  From  To   ness     Pd     Pt     Au     and Au      Cu
                      (m)  (m)    (m)  (g/t)  (g/t)  (g/t)      (g/t)     (%)
    -------------------------------------------------------------------------
    M-07-376     W   174  182      8   2.51   0.91   0.05       3.47   0.005
    -------------------------------------------------------------------------
    M-07-376  Main   232  262     30   0.15   0.07   0.13       0.35    0.24
    -------------------------------------------------------------------------
    M-07-377  Main   403  407      4   0.67   0.58  0.004       1.25    0.01
    -------------------------------------------------------------------------
    M-07-378     W   204  206      2   4.38   1.82   0.05       6.25   0.005
    -------------------------------------------------------------------------
    M-07-378  Main   226  238     12   0.71   0.42   0.11       1.24    0.14
    -------------------------------------------------------------------------
    includes  Main   232  238      6   1.30   0.38   0.21       1.89    0.28
    -------------------------------------------------------------------------
    M-07-378  Main   246  250      4   0.32   0.22   0.04       0.58    0.02
    -------------------------------------------------------------------------
    M-07-379  Main   155  167     12   0.69   0.26   0.14       1.09    0.08
    -------------------------------------------------------------------------
    includes  Main   161  167      6   0.58   0.32   0.20       1.10    0.13
    -------------------------------------------------------------------------
    M-07-379  Main   175  191     16   0.15   0.13   0.12       0.40    0.11
    ------------------------------------------------------------------------
    M-07-379  Main   217  225      8   0.15   0.22   0.06       0.43    0.26
    -------------------------------------------------------------------------
    M-07-380  Main    36   40      4   1.39   0.33   0.12       1.84    0.18
    -------------------------------------------------------------------------
    M-07-380  Main   320  328      8   0.37   0.09   0.03       0.49    0.22
    -------------------------------------------------------------------------
    M-07-382  Main   210  214      4   0.45   0.01   0.13       0.59    0.30
    -------------------------------------------------------------------------
    M-07-383  Main   155  159      4   0.20   0.07   0.05       0.32    0.13
    -------------------------------------------------------------------------
    M-07-384  Main   249  255      6   0.28   0.15   0.06       0.49    0.20
    -------------------------------------------------------------------------
    M-07-384  Main   271  317     46   0.48   0.21   0.06       0.75    0.16
    -------------------------------------------------------------------------
    includes  Main   271  293     22   0.68   0.23   0.06       0.97    0.23
    -------------------------------------------------------------------------
    M-07-384  Main   335  371     36   0.46   0.14   0.07       0.67    0.46
    -------------------------------------------------------------------------
    includes  Main   363  371      8   0.80   0.26   0.12       1.18    1.05
    -------------------------------------------------------------------------
    M-07-385  Main    83  105     22   0.59   0.14   0.06       0.79    0.27
    -------------------------------------------------------------------------
    M-07-386  Main   160  166      6   0.79   0.21   0.08       1.08    0.13
    -------------------------------------------------------------------------
    M-07-386  Main   190  198      8   0.33   0.09   0.05       0.47    0.15
    -------------------------------------------------------------------------
    M-07-386  Main   210  234     24   0.54   0.22   0.09       0.85    0.47
    -------------------------------------------------------------------------
    

    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. Assay results of 21 holes of the 2007 campaign are currently
pending.
    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.
    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 and Cu-Ni
property in western Newfoundland and Labrador 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.

    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 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
    gen@marathonpgm.com
    Tel: +1.416.987.0711




For further information:

For further information: David Leng, P.Geo, dleng@marathonpgm.com,  + 1
(905) 537-5377, Fax: +1 (416) 861-1925; For media inquiries, please contact:
Vanessa Napoli, vnapoli@renmarkfinancial.com, +1 (514) 939-3989

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