Marathon PGM Corporation
TSX VENTURE : MAR

May 24, 2006 14:48 ET

Marathon Announces Drill Results for Dunlop Zone

TORONTO, ONTARIO--(CCNMatthews - May 24, 2006) - Marathon PGM Corporation ("Marathon" or the "Company") (TSX VENTURE:MAR) is pleased to announce the first results from the Company's 2006 exploration program. The assays from the first drill hole, DM-06-01 are complete. Copper values averaging 0.36 % over 62 m were encountered from the casing depth of 4 m to 66 m. This interval includes from 22 m to 44 m grading 0.49 % copper. There were only minor amounts of platinum group metals ("PGM's") and gold in the intersection.

A total of 9 holes have been drilled to date in the Dunlop Zone while waiting for the road to the Malachite, BR, RD and Main Zone to be repaired. All drill holes to date have intersected disseminated to massive patches of iron sulfides with chalcopyrite in varying amounts. The Dunlop Zone appears to be a large breccia formed of gabbros with fragments of volcanic and sedimentary rock intruded by syenites. Geophysical surveys indicate a strike length of approximately 700 m and drilling to date indicates a width of up to 300 m. Prospectors have found copper showings in the gabbro for several hundred metres along the metasedimentary and volcanic contact beyond the range of the geophysical survey. The two fences of drilling as on the accompanying map are 200 m apart and will be used for a down-hole geophysical survey.

The Company expects to move the drills up to the Malachite Zone at the end of the week. Logging and sampling of old Anaconda drill holes south of the Malachite zone indicates that the mineralized Two Duck Lake Gabbro is present. Drill hole DH-101 had one intersection of interest, from 39.5 m to 44.6 m grading 0.02 g/t gold, 0.32 g/t platinum, 0.34 g/t palladium and 0.02 % copper. This hole is located 600 m south of the Malachite Zone. Two other old Anaconda holes drilled 300 m south of DH-101 intersected good values with DH-96 intersecting 10 m of 1.6 g/t PGM's and 0.3% copper. This area has had very little exploration from the Malachite Zone to the edge of the Dunlop lease, a distance of 7 km. Prospecting has begun and surface expressions of the zones intersected in DH-93 and DH-96 have been located. Another zone of gabbro with chalcopyrite has also been found 250 m east of DH-96. This zone has not been tested by drilling. Work is continuing to delineate the size and extent of the two zones.

All exploration work is being performed under the supervision of Phillip C. Walford, President of the Company, a Professional geologist and Qualified Person as defined by national Instrument 43-101. All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario to be assayed. Further Company information may be found on the Company's web site at www.marathonpgm.com.

On Behalf of the Board of Directors,

"Phillip C. Walford"

Phillip C. Walford, President, CEO & Director

NOTE: To view the map associated with this press release please visit the following link - http://www.ccnmatthews.com/docs/mar0524.pdf

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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