Marathon Wraps Up 2009 Campaign with 4.31 g/t PGM+Au and 0.19% Cu over 12 m

TORONTO, Sept. 29 /CNW/ - Marathon PGM Corporation ("Marathon" or "the Company", MAR-TSX) today announced the final set of results from the 2009 drilling campaign at the Marathon PGM-Cu Project.

    
    Highlights:

    -  high grade lens is enlarged with 12 m intersection grading 4.31 g/t
       PGM+Au and 0.19 % Cu in hole M-09-485
    -  infill drilling in Malachite zone to improve resource classification
    -  newly defined mineralized zone within the pit shell
    

Marathon's CEO, Phillip Walford noted, "Our exploration team completed a successful and cost effective program that has found new ore in the Main Zone, additional near surface high grade mineralization outside the pit and increased the measured and indicated category."

Drilling Focus

The final holes of the 2009 campaign confirmed continuity of mineralization and will upgrade resource classifications.

Hole M-09-485 is on section 4000 and has expanded a high grade lens within the W horizon. It is located 30 m away from previously announced holes M-09-484 and M-09-434 which graded 5.96 g/t PGM+Au and 0.21 % Cu over 4 m and 3.95 g/t PGM and Au over 30 m (from 50-80m), including 8.09g/t PGM and Au and 0.09% Cu over 10 m (from 64-74 m), respectively.

These three holes define one of the highest grade zones that has recently been drilled. This developing high grade zone was not included in the reserves or the current mine plan due to drill hole density.

Hole M-09-486 is an infill hole collared on the eastern margin of the Malachite zone. The multiple intersections will improve the classification of resource blocks in this vicinity. M-09-487 and -489 are infill holes between two pits of the Malachite zone. Identifying mineralized zones between the pits may join the lobes of the pit.

Marathon has designed the 2009 drilling campaign to improve drill density and resource classifications. Increasing the proportion of measured and indicated resources directly translates into proven and probable reserves.

    
    Marathon Drilling Results

    ----------------------------------------------------------------------
      Hole     From  To     True      Pd     Pt     Au    Total PGM   Cu
                (m)  (m)  Thickness  (g/t)  (g/t)  (g/t)    and Au    (%)
                             (m)                            (g/t)
    ----------------------------------------------------------------------
    M-09-485    67   91      24       2.06   0.51   0.18     2.75    0.17
    ----------------------------------------------------------------------
    including   69   81      12       3.27   0.76   0.28     4.31    0.19
    ----------------------------------------------------------------------
       and      87   91       4       2.27   0.63   0.23     3.14    0.26
    ----------------------------------------------------------------------
    M-09-486     1    5       4       0.99   0.31   0.17     1.48    0.16
    ----------------------------------------------------------------------
    M-09-486    33   61      28       0.36   0.17   0.06     0.59    0.16
    ----------------------------------------------------------------------
    including   53   61       8       0.39   0.19   0.07     0.66    0.23
    ----------------------------------------------------------------------
    M-09-487    55   65      10       0.68   0.32   0.08     1.08    0.03
    ----------------------------------------------------------------------
    M-09-487   111  119       8       0.79   0.22   0.06     1.07    0.23
    ----------------------------------------------------------------------
    M-09-488    36   74      38       0.30   0.11   0.06     0.48    0.07
    ----------------------------------------------------------------------
    including   48   56       8       0.52   0.18   0.08     0.79    0.29
    ----------------------------------------------------------------------
    M-09-490    12   52      40       0.50   0.16   0.09     0.75    0.21
    ----------------------------------------------------------------------
    including   16   32      16       0.83   0.28   0.10     1.20    0.22
    ----------------------------------------------------------------------
    (1) M-09-489 intersected no significant values
    

Please click on http://www.marathonpgm.com/newsmaps/2009-23.jpg to view a drill map.

Reserve Statement and Mine Plan

Marathon delivered an updated resource statement (see Marathon Press Release dated August 20, 2009) as part of the on-going optimization of the definitive feasibility study ("DFS") expected in Q4. The optimized DFS will include new mineable reserves, an updated mine plan and capital expenditure figures.

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 currently optimizing an earlier definitive feasibility study on the Marathon PGM-Cu deposit, which is expected to be completed in the fourth quarter of 2009. Marathon also has development and exploration stage properties in southeastern Manitoba and western Newfoundland, respectively. Marathon's management plans to build on its experience through the advancement of its properties and by examining other strategic opportunities.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. 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, 2008.

Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

%SEDAR: 00020574E

SOURCE MARATHON PGM CORPORATION

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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