Marathon PGM Corporation
TSX VENTURE : MAR

June 28, 2005 14:24 ET

Marathon Announces Exploration Results from Drilling and Prospecting of First Drill Hole in BR Zone Intersects 12m Grading 8.32g/t PGM & 0.17 % Cu

TORONTO, ONTARIO--(CCNMatthews - June 28, 2005) - Marathon PGM Corporation (TSX VENTURE:MAR) (the "Company") is pleased to announce the results of recent exploration work on the Marathon Property. The first drill hole in the 2005 drilling program, M-05-33, intersected 12m grading 8.32 g/t PGM and 0.17 % copper as well as a second zone of 10m grading 1.42 g/t PGM and 0.39 % copper. The intersection is 100m down dip from hole M-04-18 which intersected 16m grading 1.48 g/t PGM and 0.08 % copper and is 100m north of hole M-04-21 which intersected 34m grading 3.87 PGM and 0.21 % copper.

The second drill hole, M-05-34, 30m down dip of M-05-33, encountered low grade PGM and copper values however the mineralization was not cut off. The results are presented in the table below. Seven additional holes have been drilled and three more are planned in this program to explore the BR Zone. All holes to date have encountered iron and copper sulfides. The results of these holes will be used for further drilling this year to better understand the high-grade PGM lenses in this zone. The tendency for higher PGM values to be present in the upper mineralized zones appears to be more pronounced south of the Main Zone. The BR Zone is open to the north, south and west.

Also important prospecting during May and June extended the Malachite Zone 100m further north and the BR Zone over 100m further south. Each zone gave two areas of good grades from surface sampling in both PGMs and copper. The highest grade sample in these areas was in the Malachite Zone where one sample graded 12.84 PGM and 0.54 % copper. These areas have now been stripped and washed and are being mapped. Further stripping was completed between the Malachite Zone and BR Zone where mapping and prospecting has now linked the sulfide mineralized gabbro of the Malachite Zone to the BR Zone. None of the areas has been drilled but will be during the current 8,000m to 10,000m drilling program. The prospecting and mapping has expanded the resource potential considerably in the region hosting the Malachite, BR and Rd Zones. There is now over 900m of prospective strike length to explore, much of it with little or no drilling. The rapid expansion of exploration targets is a measure of the property's potential and the skills of the exploration team.



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Est-
imated
Inter- true Total
From To section width Pd Pt Au PGM Cu
Hole (m) (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%)
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M-05-33 57.0 67.0 10.0 7.0 5.59 2.00 0.73 8.32 0.21
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includes 59.0 61.0 2.0 1.4 17.60 5.06 2.46 25.11 0.40
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75.0 85.0 10.0 7.0 1.03 0.25 0.14 1.42 0.39
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M-05-34 69.0 81.0 12.0 8.4 0.15 0.12 0.03 0.30 0.08
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97.0 107.0 10.0 7.0 0.17 0.06 0.03 0.26 0.16
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119.0 127.0 8.0 5.6 0.17 0.02 0.03 0.22 0.11
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Malachite
Rock
Samples
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71 1.29 0.32 0.19 1.80 0.25
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72 2.00 0.73 0.25 2.98 0.54
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73 9.30 2.80 0.74 12.84 0.56
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74 0.97 0.26 0.11 1.34 0.24
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75 0.87 0.14 0.10 1.11 0.12
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RD rock
samples
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85 0.80 0.37 0.15 1.32 0.14
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86 1.16 0.42 0.18 1.76 0.84
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87 2.25 0.46 0.22 2.93 0.57
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88 2.24 0.45 0.24 2.93 0.72
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89 1.40 0.30 0.19 1.89 0.41
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90 1.55 0.49 0.27 2.31 0.42
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All exploration work is being performed under the guidance and supervision of Phillip C. Walford, President for 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 Web Site at http://www.marathonpgm.com.

On Behalf of the Board of Directors,

"Phillip C. Walford"

Phillip C. Walford

NOTE: A map is available on CCNMatthews' website at

http://www2.ccnmatthews.com/database/fax/2000/mar0628.pdf


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