Marathon Intersects High Grade Polymetallic Mineralization at Ore Fault: 6.8 m of 2.03% Cu, 4.01% Zn, 200 g/t Ag and 0.58 g/t PGM and Au



    TORONTO, Feb. 21 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company") is pleased to report initial assay results from drilling at the Ore
Fault North within the Bird River Property in southeast Manitoba.

    
    Highlights
    ----------
    -  polymetallic high grade zones (up to 3% Cu, 5% Ni, 4% Zn, and
       200 g/t Ag) have been identified at the Ore Fault North
    -  mineralization occurs as multiple lenses within a 100m thick envelope
       that trends north-south for over 300 m
    -  8 holes were completed with sulphide zones reported in every hole,
       remaining assays are pending
    -  zones of mineralization are open along strike and to depth
    -  Ni-Cu and Zn-Cu lenses are very similar to what was mined at the
       nearby Dumbarton mine

    Dave Good, Marathon's VP of Exploration stated, "The historical
exploration focus on the Ore Fault property was nickel. Hole MF-08-03 confirms
the nickel mineralization and also highlights a previously understated
Zn-Cu-Ag and PGM mineralization that occurs in 14 other historic drill holes
from the 1970's."

    Assay Results from Marathon's Drilling
    -------------------------------------------------------------------------
                              Est.                                       PGM
                              True                                       and
            From   To  Width Width Cu   Ni   Zn    Ag   Au    Pt    Pd    Au
    -------------------------------------------------------------------------
    Hole     (m)   (m)  (m)   (m)  (%)  (%)  (%)  (g/t)(g/t) (g/t) (g/t)(g/t)
    -------------------------------------------------------------------------
    MF0801  91.4  94.4  3.0  3.0  0.19 0.35 0.06   2.5 0.02  0.06  0.28  0.36
    -------------------------------------------------------------------------
    MF0803 175.4 196.0 20.6 18.0  0.88 0.19 1.60  79.0 0.06  0.04  0.28  0.38
    -------------------------------------------------------------------------
    incl.  175.4 183.4  8.0    7  0.25 0.30 0.13  10.9 0.03  0.08  0.24  0.36
    -------------------------------------------------------------------------
    incl.  188.2 195.0  6.8  6.0  2.03 0.14 4.01 200.0 0.11  0.02  0.46  0.58
    -------------------------------------------------------------------------


    Historical Assay Results(1)
    -------------------------------------------------------------------------
                                  Est.
                                  True                         Au   Pt   Pd
            From     To   Width  Width  Cu    Ni    Zn   Ag    (2)  (2)  (2)
    -------------------------------------------------------------------------
    Hole     (m)     (m)   (m)          (%)   (%)   (%) (g/t) (g/t)(g/t)(g/t)
    -------------------------------------------------------------------------
    Copper and Zinc Rich Zones
    -------------------------------------------------------------------------
    4       21.09   28.96   7.9   7.8  2.44  0.35  2.02   50   n/d  n/d  n/d
    -------------------------------------------------------------------------
    13      53.25   55.87   2.6   2.5  2.99  0.05  1.87   43   n/d  n/d  n/d
    -------------------------------------------------------------------------
    24     201.17  213.06  11.9  11.9  0.75  0.02  4.26   44   n/d  n/d  n/d
    -------------------------------------------------------------------------
    Nickel Rich Zones
    -------------------------------------------------------------------------
    89-16   233.6     240   6.4   5.2  0.59  1.17  0.04   16   n/d  n/d  n/d
    -------------------------------------------------------------------------
    21      163.1   178.3    15    15  0.29  0.87  0.03  1.7   n/d  n/d  n/d
    -------------------------------------------------------------------------
    Nickel Rich Channel Sample
    -------------------------------------------------------------------------
                            5.0   5.0  0.75  5.54  9.88   51   n/d  n/d  n/d
    -------------------------------------------------------------------------

    (1) NI43101 Technical Report On the Ore Fault Property, SE Manitoba,
        Canada (N.T.S. : 52L-5NE & 6NW), Prepared for: Bird River Mines Inc.,
        Author: Horst W. Petak, Ph.D., P.Eng., P.Geo., PHW Consulting
        Winnipeg, March 31st, 2005.
    (2) n/d - not determined
    

    A total of 8 drill holes have been completed along a zone of nickel
mineralization that trends north-south for approximately 300m. Mineralization
in the 8 holes typically occurs as multiple lenses of disseminated to
semi-massive sulphides that are usually 1 to 10 m thick and can generally be
correlated across several holes. A section of mineralization in hole MF-08-03
that consists of semi-massive and stringer sulphides including abundant
sphalerite, chalcopyrite and pyrrhotite returned assay results of 0.88% Cu,
0.19% Ni, 1.6% Zn, 79 g/t Ag and 0.38 g/t PGM and Au across 16m including 5.3m
of 2.03% Cu, 4.01% Zn, 200 g/t Ag and 0.58 g/t PGM and Au. Interestingly, the
intersection is zoned from a Ni-Cu top and Zn-Cu-Ag base.

    Exploration Focus

    Marathon's exploration strategy is comprised of the application of
geophysics, interpretation of historical data and drill target definition with
the goal of defining a resource for each of the zones. This systematic
approach to exploration is being applied to five zones of mineralization - Ore
Fault North, Ore Fault South, Page West, Page East and Galaxy. Subsequent to
drilling at Ore Fault North, the rig moved to the Page Zone and completed two
holes to date.
    "This looks like a mine to me based on my 30 plus years of mining
experience. The question we have to answer is how big is it." said Phillip
Walford, P.Geo., Marathon's President and CEO.
    Marathon has an option to earn to earn 100% of the Ore Fault Property,
which covers 446 hectares, from Bird River Mines Inc (see MAR release of
07-Jan-08). The Ore Fault Property is part of a larger area called the Bird
River Project that consisting of 7,301 ha that Marathon has an option to earn
up to 70% of this project from Gossan Resources (see MAR release of
17-Apr-08).

    (To see a map of the Ore Fault Property, click on
    http://www.marathonpgm.com/newsmaps/2008-05.jpg).

    Samples consist of NQ-size drill core that are split by diamond saw on
site, prepared at ALS Chemex Vancouver, and assayed by fire assay with an
ICP-OES finish (for Pt, Pd and Au) and aqua regia or four acid dissolution and
ICP-OES finish for base metals. Marathon's quality assurance-quality control
(QA-QC) program consists of insertion of standards of known PGM content and
duplicates every 30 samples. After sampling, the remaining half core is
retained on site for future verification and reference purposes.
    David Good, P.Geo, Marathon's V.P. Exploration, is the 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.

    About Marathon PGM Corporation

    Marathon is in the process of completing a definitive feasibility study
on the Marathon PGM-Cu deposit. 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, 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"

    %SEDAR: 00020574E




For further information:

For further information: Phillip C. Walford, P.Geo., President, Chief
Executive Officer, Tel: (416) 987-0711, gen@marathonpgm.com; For more
information, please contact: David Leng, P.Geo: Tel: (416) 849-3432, Fax:
(416) 861-1925, dleng@marathonpgm.com

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