Marathon Converting Waste to Ore



    TORONTO, Aug. 26 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company", MAR-TSX) today announced the initial phase of results from the 2009
campaign at the Marathon PGM-Cu Project. This drilling is aimed at a new
mineralized zone, reducing the strip ratio and converting waste (inferred
resources) into ore (revenue tonnes) for the upcoming new mine plan and
reserves.

    
    Highlights:

    -   hole M-09-473 intersected 40 m grading 0.88 g/t PGM and Au and 0.27 %
        Cu in the new zone located within the pit boundary

    -   all holes to be included in the new the mine plan
    

    "This drilling is testing the recently enhanced block model and a newly
identified zone with some pretty good results. It is important to note that
this material is within the pit shell and so will move tonnes from the waste
column to the reserve column," said David Good, VP of Exploration.

    Initial Drilling

    Holes M-09-470 and M-09-471 were drilled into blocks of inferred
resources in the middle of the pit and at the margin of the pit, respectively.
Hole M-09-472 was drilled underneath a block of footwall within the pit, and
successfully tested the model for mineralization. A newly identified
mineralized area located on the eastern margin of the pit was tested by
M-09-473 and confirmed continuous downdip mineralization from surface.
    This drilling is of high importance because increasing drill density in
such areas will add tonnes to the upcoming reserve estimate and play a role in
mine plan development.

    
    Marathon Drilling: Initial Results
    ----------------------------------
    -------------------------------------------------------------------------
                              True                             Total
                              Thick-                            PGM
                From    To     ness     Pd      Pt       Au    and Au    Cu
      Hole       (m)    (m)    (m)     (g/t)   (g/t)    (g/t)   (g/t)    (%)
    -------------------------------------------------------------------------
    M-09-470     110    138     28     0.87    0.22     0.10    1.19    0.23
    -------------------------------------------------------------------------
    M-09-471     122    134     12     0.48    0.13     0.07    0.67    0.25
    -------------------------------------------------------------------------
    M-09-472     109    157     48     0.36    0.13     0.05    0.54    0.20
    -------------------------------------------------------------------------
    includes     127    141     14     0.74    0.21     0.08    1.03    0.39
    -------------------------------------------------------------------------
    M-09-473    6.75     55     40     0.63    0.19     0.07    0.88    0.27
    -------------------------------------------------------------------------
    includes    6.75     23   13.5     0.93    0.23     0.10    1.25    0.36
    -------------------------------------------------------------------------
      and         41     55   11.6     0.74    0.25     0.07    1.06    0.36
    -------------------------------------------------------------------------
    

    Please click on http://www.marathonpgm.com/newsmaps/2009-19.jpg to view a
drill map.

    Reserve Statement and Mine Plan

    Marathon delivered an updated resource statement (see Marathon Press
Release dated August 12, 2009) as part of the on-going optimization of the
definitive feasibility study ("DFS") expected in Q4. The optimized DFS will
include new mineable reserves, an updated mine plan and capital expenditure
figures.
    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 currently optimizing an earlier definitive feasibility study
on the Marathon PGM-Cu deposit, which was completed in December of 2008.
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, 2008.
    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.

    
    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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MARATHON PGM CORPORATION

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