Marathon Hits Thickest Ever Intersection of PGM-Cu Mineralization, 183m of 0.24% Cu and 0.37g/t PGM and Au



    TORONTO, July 29 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company", MAR-TSX) is pleased to announce the latest results from drilling
from the Marathon Project, near Marathon, Ontario.

    
    Highlights:

    -   hole M-08-461 intersected 183m of 0.37g/t PGM and Au and 0.24% Cu
    -   confirmation of westward extension of W Horizon margin
    -   updated Marathon resource calculation expected in August
    

    David Good, VP of Exploration noted, "What's most exciting about this
intersection is that the bottom 70 m penetrated mineralization below the
footwall contact and confirms another deep and thick intersection in historic
hole DDH88 that was not previously included in the resource calculation.
Hole DDH88 is located 50m to the north of hole 461 and intersected 73m grading
0.33%Cu and 0.83 g/t PGM+Au at a depth of 400-465m below the surface."

    
    Results from Marathon Drilling
    ------------------------------
    -------------------------------------------------------------------------
                              True                             Total
               From    To   Thickness  Pd      Pt      Au     PGM and    Cu
      Hole      (m)    (m)     (m)    (g/t)   (g/t)   (g/t)   Au (g/t)   (%)
    -------------------------------------------------------------------------
    M-08-455    138    144      6     0.82    0.48    0.24     1.55     0.15
    -------------------------------------------------------------------------
    M-08-455    138    142      4     1.04    0.46    0.32     1.82     0.19
    -------------------------------------------------------------------------
    M-08-456    108    112      4     1.06    0.30    0.06     1.42     0.02
    -------------------------------------------------------------------------
    M-08-457    130    136      6     0.47    0.29    0.06     0.82     0.03
    -------------------------------------------------------------------------
    M-08-457    168    172      4     0.45    0.15    0.04     0.64     0.11
    -------------------------------------------------------------------------
    M-08-458    241    251     10     0.42    0.19    0.05     0.65     0.07
    -------------------------------------------------------------------------
    M-08-458    288    300     12     0.44    0.17    0.13     0.74     0.12
    -------------------------------------------------------------------------
    M-08-458    308    346     38     0.33    0.08    0.04     0.45     0.24
    -------------------------------------------------------------------------
    M-08-459     22     28      6     1.10    0.24    0.14     1.48     0.26
    -------------------------------------------------------------------------
    M-08-459     90     96      6     0.26    0.13    0.07     0.47     0.14
    -------------------------------------------------------------------------
    M-08-459    154    158      4     2.56    1.00    0.24     3.79     0.12
    -------------------------------------------------------------------------
    M-08-460      6     12      6     0.58    0.19    0.09     0.86     0.11
    -------------------------------------------------------------------------
    M-08-461    280    463    183     0.25    0.08    0.04     0.37     0.24
    -------------------------------------------------------------------------
    M-08-461    280    294     14     0.44    0.19    0.07     0.70     0.39
    -------------------------------------------------------------------------
    M-08-461    397    463     66     0.31    0.09    0.05     0.45     0.32
    -------------------------------------------------------------------------
    M-08-461    399    409     10     0.38    0.13    0.06     0.57     0.41
    -------------------------------------------------------------------------
    M-08-461    423    463     40     0.32    0.10    0.05     0.47     0.34
    -------------------------------------------------------------------------
    M-08-462     57     65      8     0.05    0.05    0.02     0.13     0.17
    -------------------------------------------------------------------------
    M-08-462    187    197     10     0.94    0.44    0.31     1.69     0.06
    -------------------------------------------------------------------------
    M-08-463    260    268      8     0.12    0.07    0.03     0.22     0.20
    -------------------------------------------------------------------------
    

    Importance of Hole 461
    ----------------------
    A 183m intersection within hole M-08-461 grading 0.24% Cu and 0.37g/t PGM
and Au represents the thickest intersection of Main Zone mineralization ever
discovered within the Marathon deposit. The mineralization extends 80m below
the deepest part of the current resource pitshell, greatly improving the
chances of extending the pit. This hole is a success because it went past the
footwall to test a previously indicated deeper layer of sulphides. Discovering
such a wide intersection validates the concept of deeper sulphide layers. The
lower 66m of the intersection is higher in copper, grading of 0.32% Cu and
0.45g/t PGM and Au.

    W Horizon Drilling
    ------------------
    Six holes (M-08-455, -56, -57, -58, -59, -60 and -62) were drilled at 50
to 100m spacing, to test for continuity of the high-grade W horizon. All of
these holes hit the W horizon, with two significant intersections in holes
M-08-459 and -455, which intersected 4m grading 3.79g/t PGM and Au and 0.12%
Cu and 4m grading 1.82g/t PGM and Au and 0.19% Cu, respectively.

    Magnetite Horizon Intersections
    -------------------------------
    Mineralization associated with semi-massive to massive magnetite horizons
has long been recognized within the hanging wall of the main zone
mineralization and has the potential to reduce the overall strip ratio. Holes
M-08-459 and -460 are located within the pitshell and are associated with
magnetite horizons. Hole 459 contains 6m at 0.26% Cu and 1.48g/t PGM+Au and
hole 460 contains 6m at 0.11% Cu and 0.86 g/t PGM+Au.

    (To view a drill map please click on
    http://www.marathonpgm.com/newsmaps/2008-34.jpg)

    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 on track for completion in September.
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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