TORONTO, Ont, April 5 /CNW Telbec/ - Marathon PGM Corporation (the
"Company") is pleased to announce that it has been presented with the
Northwestern Ontario Prospectors Association ("NWOPA") award for "Developer of
the Year" for 2006.
The award was given at the NWOPA annual meeting on April 5, 2007. Phillip
Walford, President and CEO, accepted the award on behalf of the Company. Also
present to accept the award were David Good (VP of Exploration), Sherry
Dunsworth (Project Manager), Dave Galley (Prospector), Rod Swire (Prospector)
and Ray Mason (Feasibility Study Manager).
Mr. Walford commented, "The substantial progress that has been achieved
is due to the dedication of an experienced team. Collectively, we are very
gratified with this achievement and have the satisfaction of looking at a
This prestigious award was given for the Company's aggressive development
of the Marathon project from initial drilling in 2004 to a favourable
preliminary economic assessment in 2006 and the commencement of a feasibility
study in early 2007. The Company more than doubled the in-pit resources of
PGM, gold and copper from the beginning of drilling in 2004 and now has a
measure and indicated resource of 2.9 million ounces of PGM and gold and
514 million pounds of copper, as reported in the Company's press release dated
February 19, 2007.
Based on the updated preliminary economic assessment, the Marathon
project has an estimated minelife of 13.5 years at an annual production of
approximately 195,000 ounces PGM and gold and 36.5 million pounds of copper. A
35,000 meter drilling campaign is currently underway to increase the resource.
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
About the Marathon PGM - Cu Project
The Company has a 100% interest in the Marathon PGM - Cu Project, located
about 10km north of Marathon, Ontario. A major drilling program is underway to
expand the resource on the 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
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
On behalf of Marathon PGM,
"Phillip C. Walford"
Phillip C. Walford
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