Marathon PGM Corporation
TSX VENTURE : MAR

March 29, 2006 16:39 ET

Marathon Announces Completion of Technical Report and Resource Estimate; Additional Drilling Recommended to Increase In-Pit Resource

TORONTO, ONTARIO--(CCNMatthews - March 29, 2006) - Marathon PGM Corporation ("the Company") (TSX VENTURE:MAR) is pleased to announce completion of the Technical Report and Resource Estimate (NI-43-101 & 43-101F1) for its Marathon PGM-Copper deposit. This report has been filed on Sedar and provides details of the In-Pit Resource estimation.

In February, 2006 a NI 43-101 compliant resource estimate was completed by independent mining consultant and Qualified Person, Eugene Puritch, P. Eng., of P&E Mining Consultants Inc. of Brampton, Ontario ("P&E"). The Company announced this resource with a Press Release dated February 27, 2006. The metal prices, metallurgical recoveries and other factors used in the report are in the previously announced press release of February 27 and in the detailed report.

The estimation of an in-pit resource represents a significant advancement in the development of the property from a "global resource" to one that is potentially minable. This resource is 90% measured and indicated, the highest resource classes, demonstrating high confidence in the tonnage and metal content. The high tonnage of the resource, 40 million tonnes of measured and indicated, is a very important basis for the Preliminary Economic Analysis study now underway by P&E Mining Consultants.



Mineral Resource within Pit Shell Tables(1)
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P&E 2006 Resource, All Zones within Pit Shell
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Tonnes Palladium Platinum Gold Copper
Category millions (Pd) g/t (Pt) g/t (Au) g/t (Cu) %
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Measured 19.0 1.07 0.27 0.10 0.36%
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Indicated 21.0 1.06 0.30 0.11 0.35%
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Meas + Indic 40.0 1.07 0.29 0.10 0.36%
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Inferred 4.6 1.06 0.33 0.12 0.31%
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Contained Metals
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Pd Oz Pt Oz Au Oz Cu Lbs
Category (000) (000) (000) Millions
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Measured 655 167 58 153
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Indicated 718 205 70 164
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Meas + Indic 1,373 372 128 317
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Inferred 157 49 18 31
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(1) Mineral resources which are not mineral reserves do not have a
demonstrated economic viability. The estimate of mineral
resources may be materially affected by environmental,
permitting, legal, title, taxation, sociopolitical, marketing, or
other relevant issues.


The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council November, 2004.

The Technical Report and Resource Estimate on the Marathon PGM-CU Property had important conclusions regarding increasing the in-pit resources. P&E concluded that "Excellent potential exists to expand the overall current resources since most of the zones remain open in one or more dimensions having not been adequately defined at depth or in some cases along strike as well"

P&E recommended an 11,000 m drill program of 66 holes in the report to expand the resource. This program will be carried out beginning in May, 2006. Additional exploration targets exist on the property that were not the subject of the P&E report but will be drilled in 2006.

The Marathon Property is located about 10 km north of the town of Marathon, Ontario, Canada and is well located with respect to transportation infrastructure. The town of Marathon is adjacent to the Trans-Canada Highway on the northeast shore of Lake Superior, approximately 300 km east of the city of Thunder Bay. All work is being performed under the guidance and supervision of Phillip C. Walford, President & CEO for the Company, a Professional Geologist and Qualified Person as defined by National Instrument 43- 101.

Marathon PGM Corp.'s web site is www.marathonpgm.com.

On Behalf of the Board of Directors,

"Phillip C. Walford"

Phillip C. Walford, President, CEO & Director

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

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