The Dromore Investment Company, Limited, 117902 Canada Inc., W. A. Investments Ltd., Smith Vincent & Co. Ltd., Forfuture Limited, Martha Vincent, G. Mark Curry and the Murphy Foundation Incorporation (collectively, the "Shareholders")



    MARATHON PGM CORPORATION

    TORONTO, Jan. 18 /CNW/ - Certain related holding companies, individuals
and trusts that are all related to the Vincent and/or Curry families of
Toronto (the "Shareholders"), who may be considered to act "jointly or in
concert" for purposes of Canadian securities legislation, announced today that
they own an aggregate of 4,329,380 Common Shares of Marathon PGM, representing
approximately 19.91% of the issued and outstanding Common Shares, based on a
total of 21,744,653 Common Shares issued and outstanding.

    
    Such Common Shares are owned as follows:

    ------------------------------------------------------------
          Beneficial Owner              Number of    Percentage
                                    Common Shares     Ownership
                               Beneficially Owned
    ------------------------------------------------------------
    The Dromore Investment                900,000         4.14%
     Company, Limited
    ------------------------------------------------------------
    117902 Canada Inc.                  1,516,880         6.98%
    ------------------------------------------------------------
    W.A. Investments Ltd.                 300,000         1.38%
    ------------------------------------------------------------
    Smith Vincent & Co. Ltd.            1,200,000         5.52%
    ------------------------------------------------------------
    Forfuture Limited                     100,000         0.46%
    ------------------------------------------------------------
    Martha Vincent                        180,000         0.83%
    ------------------------------------------------------------
    G. Mark Curry                          22,500         0.10%
    ------------------------------------------------------------
    The Murphy Foundation                 110,000         0.51%
     Incorporated
    ------------------------------------------------------------
    

    The Common Shares were acquired by the Shareholders in the ordinary
course of business for investment purposes. The Common Shares were not
acquired for the purpose of changing or influencing the control of Marathon
PGM and were not acquired jointly or in concert with any person in a
transaction having such a purpose. The Shareholders have no intention of
making an offer generally to acquire Marathon PGM.
    This press release is being issued in accordance with the early warning
requirements of applicable Canadian securities laws.





For further information:

For further information: Kit Vincent, Suite 808, 1200 Bay St, Toronto,
Ontario, (416) 964-6411

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MARATHON PGM CORPORATION

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