Marathon PGM Corporation
TSX VENTURE : MAR

March 27, 2006 13:37 ET

Marathon Announces The Purchase Of The Dunlop Property

TORONTO, ONTARIO--(CCNMatthews - March 27, 2006) - Marathon PGM Corporation ("the Company")(TSX VENTURE:MAR) is pleased to announce the Company has signed an agreement with W. Bruce Dunlop to purchase two mineral leases contiguous with the Company's claims near Marathon, Ontario. The agreement calls for a cash payment of $ 250,000 CDN to the vendor. The vendor will retain a 3 % NSR (net smelter return) that can be reduced to a base of 1.5 % NSR by payments of $ 500,000 CDN per 0.5 % NSR. A claim block has also been staked by Marathon to the east of the Dunlop property and between two Marathon claim blocks. The Dunlop leases cover 91 hectares and the claim block covers approximately 120 hectares giving Marathon a total property size of approximately of 4,585 hectares. (attached map)

The acquisition consolidates the Company's land position and provides another exploration target x kilometres to the south of the present resources. The Dunlop Property hosts copper mineralization that was discovered in 1956 during the construction of HWY 17 near the town of Marathon. An 800 m long IP anomaly outlines the mineralization. The copper occurs in coarse grained gabbro along the contact of the Coldwell Complex similar to the Marathon Deposit. Assessment files at the Ministry of Natural Resources in Thunder Bay have records of 14 drill holes in the zone. Kinasco Exploration and Mining Limited drilled ten holes and encountered disseminated iron sulphides and chalcopyrite in all the holes. Only the assays for two holes were reported and these were hole K-1 that intersected 495 ft of gabbro and metasediments averaging 0.28 % copper including 50 ft of 0.41 copper and 42 ft of 0.42 copper, and K-2 which intersected 436 ft averaging 0.19 % copper. Conwest Exploration Company Limited drilled two holes in 1964 with similar results to Kinasco reporting the best intercept in the first hole of 100 ft grading 0.40 % copper. No assays for platinum and palladium were made. Noranda Exploration also drilled two holes in 1992 with similar copper results and reported low platinum and palladium values however; the potential for PGM mineralization has not been completely tested. The above information is historical in nature and can not be verified.

Some orientation exploration will take place on the Dunlop property during the 2006 field season. The current in-pit resource areas on the main property are the priority. Exploration will begin in April with the examination of Anaconda drill core to the south of the Malachite zone in preparation for prospecting in that area. Anaconda drill hole DH 93 and 96 intersected approximately 10 m grading 1.6 g/t pgm and 0.30 % copper 1km to the south of the Malachite Zone with virtually no exploration between the zone and the drill holes. Preparations will also be made in April for the commencement of drilling in May in the Malachite BR and RD zones to be followed by the Main Zone. The Company plans to drill a minimum of 10,000 m this year.

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"

For a map of the Marathon PGM-Cu Project in Marathon, Ontario, please click on the link below:

http://www.ccnmatthews.com/docs/mar327.jpg

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

Contact Information