Marathon Takes Up Discovery Shares to Increase Holdings to Approximately 93.58%



    TORONTO, June 2 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company") today confirmed its May 28, 2008 announcement that an additional
1,630,067 common shares of Discovery PGM Exploration Ltd.,
(PTD:TSX.V)("Discovery") were validly deposited to the offer of Marathon (the
"Offer") and that Marathon has taken up and accepted for payment all of such
shares tendered and intends to issue Marathon common shares in payment for the
tendered Discovery common shares today, June 2, 2008.

    Early Warning Requirements under Applicable Securities Laws

    As a result of the taking up and acceptance of payment of the additional
Discovery Shares, Marathon has now acquired pursuant to the Offer an aggregate
of 28,417,111 common shares of Discovery, which represents approximately
93.58% of the common shares of Discovery on a fully-diluted basis, and 94.20%
of the outstanding common shares of Discovery. There are warrants to purchase
300,000 Discovery common shares that have not been exercised.
    Marathon intends to exercise its statutory right of compulsory
acquisition under the Business Corporations Act (British Columbia) to acquire
the remaining Discovery shares that were not deposited to the Offer. A notice
of compulsory acquisition will be mailed to all dissenting shareholders of
Discovery and filed on Discovery's SEDAR profile at www.sedar.com on or before
June 27, 2008.

    This press release shall not constitute an offer to purchase or a
solicitation of an offer to sell securities in any jurisdiction. A copy of the
early warning report filed pursuant to the applicable securities legislation
is available online at www.sedar.com under Discovery's profile or may be
obtained by contacting Marathon at 330 Bay Street, Suite 1505, Toronto,
Ontario, M5H 2S8, Telephone 416-861-0851.

    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
    gen@marathonpgm.com
    Tel: +1.416.987.0711

    %SEDAR: 00020574E




For further information:

For further information: David Leng, P.Geo: dleng@marathonpgm.com, Tel:
(905) 537-5377, Fax: (416) 861-1925

Organization Profile

MARATHON PGM CORPORATION

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