Marathon Step Out Drilling Expands W Horizon, 4.58g/t PGM and Au over 6m



    TORONTO, June 24 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company", MAR-TSX) is pleased to announce results from infill drilling of the
high-grade W horizon at the Marathon Project, near Marathon, Ontario.

    
    Highlights:

    -   hole M-08-443 intersected 4.58g/t PGM and Au over 6m (from 73-79m)
    -   step out holes confirm down dip extension along 250m section of the W
        horizon
    -   the W horizon remains open down dip and has a north-south strike
        length of 1,200m
    -   increased density and closing gaps in drilling will improve tonnage
        and resource classifications of the high grade W horizon
    

    David Good, VP of Exploration noted, "This successful step-out drilling
will add precious metals and copper to the W horizon resource and at higher
than average grades compared to the Main Zone."

    
    Results from Marathon Drilling
    ------------------------------

    -------------------------------------------------------------------------
                               True                           Total PGM
               From      To  Thickness    Pd     Pt     Au     and Au    Cu
    Hole        (m)     (m)     (m)      (g/t)  (g/t)  (g/t)    (g/t)    (%)
    -------------------------------------------------------------------------
    M-08-438     7      13       6       0.06   0.96   0.02     1.03    0.02
    -------------------------------------------------------------------------
               115     123       8       1.43   0.35   0.29     2.06    0.48
    -------------------------------------------------------------------------
    M-08-440   178     186       8       1.43   1.18   0.12     2.74    0.26
    -------------------------------------------------------------------------
    M-08-441   136     146      10       1.57   0.42   0.44     2.44    0.50
    -------------------------------------------------------------------------
    M-08-443    73      79       6       3.18   1.25   0.15     4.58    0.08
    -------------------------------------------------------------------------
    M-08-439 and -442 intersected no significant values.
    

    Current Drilling
    ----------------
    Marathon's infill drilling on the high-grade W horizon has provided
further detail into the extent of mineralization. All drill holes intersected
downdip extensions of the W horizon and are outside of the current resource
pitshell. This drilling is focused in an area that previously had little
drilling.
    Near surface mineralization in hole M-08-438 hosted within magnetite
layers has the potential to play a critical role in reducing the strip ratio.
Further down the hole, the high grade W horizon was intersected.
    Drilling on the Marathon property for the purpose of the feasibility
study is now complete, with the exception of 2 condemnation holes to be
drilled in July in coordination with the feasibility study. Marathon has
resumed drilling on the Benton JV property in order to expand resources.
    (To view a drill map please click on
http://www.marathonpgm.com/newsmaps/2008-30.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. 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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MARATHON PGM CORPORATION

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