TORONTO, Aug. 8 /CNW Telbec/ - Marathon PGM Corporation (MAR -- TSX)
("Marathon" or the "Company") is pleased to announce the appointment of
Raymond Mason, BSc to the position of Vice President of Operations effective
August 1st, 2007.
Mr. Mason has over thirty-five years of experience in all facets of
mining including exploration, construction, process engineering, mine
engineering, property evaluation and senior mine management. Mr. Mason's
operational experience includes 6 open pit and 3 underground mines in northern
regions, which are similar to the Marathon PGM-Cu Project. He was with North
American Palladium Ltd. from 2001 though May 2006 and was General Manager of
the Lac des Iles mine.
"Ray's appointment to VP of Operations is a very important milestone, and
this proves how well the Marathon project is advancing. Ray's skills in mine
development and engineering are well suited to Marathon at this position of
the Company," stated Phillip Walford, President and Chief Executive Officer.
"He has a diverse array of experience, from which Marathon will benefit
greatly, especially the mining and processing of a Platinum Group Metals/base
metals ore body. Ray's proven track record of working in climates similar to
that of Marathon will be of enormous value in establishing a new mine in North
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 Marathon PGM Corporation
The Company has a 100-per-cent interest in the Marathon PGM -- Cu
project, located about 10 kilometers north of Marathon, Ont. The project is
currently undergoing a definitive feasibility study and a 35,000 m drill
campaign. As announced previously, the company has completed a revised
preliminary economic assessment in compliance with the provisions of National
Instrument 43-101, showing a measured resource of 39.2 million tonnes
containing 1.6 million ounces of PGM and gold and 285 million pounds of
copper, and an indicated resource of 28.9 million tonnes containing
1.1 million ounces of PGM and gold and 178 million pounds of copper. An
additional low-grade resource was also identified in the report completed by
P&E Mining Consultants Inc. and filed on SEDAR on April 5, 2007.
In April 2007, Marathon entered into an option agreement with Gossan
Resources on the Bird River Sill Ni-Cu and PGM property, located in
Southeastern Manitoba. Marathon is conducting exploration activities through
2007 at the Bird River Sill and will be drilling at the Page Zone in late
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, P.Geo.
President, Chief Executive Officer
For further information:
For further information: David Leng, P.Geo: firstname.lastname@example.org, (905)
537-5377, Fax: (416) 861-1925; www.marathonpgm.com; For media inquiries,
please contact: Vanessa Napoli, email@example.com, (514) 939-3989