Marathon PGM Corporation
TSX VENTURE : MAR

July 26, 2005 14:40 ET

Marathon PGM Announces Further Positive Exploration Results from Drilling

TORONTO, ONTARIO--(CCNMatthews - July 26, 2005) - Marathon PGM Corporation (TSX VENTURE:MAR) (the "Company") is pleased to announce results of the recent exploration work on its 100% owned Marathon Property. The highlights of the drilling include drill holes M-05-35 which intersected 8 m grading 3.07g/t PGM and 0.05% Cu and drill hole M-05-44 which intersected 8 m grading 10.97g/t PGM and 0.12% Cu. Both of these holes are located near other high grade intersections. The results of the additional 10 holes drilled to date are listed in table below. An additional 10 holes of this exploration phase of the program have been completed and are awaiting assaying. All holes drilled to date have intersected iron and copper sulfides, which is very encouraging. The locations are on the accompanying map. The current exploration program underway envisions 10,000 m of drilling, is 30% complete and may be extended pending results.

The drilling to date indicates that the BR Zone mineralization averages about 50 m in thickness with generally the top being PGM rich and the bottom being copper rich. The zone may be well mineralized with PGM and copper but is more likely to be in two zones with lower grade PGM and copper values between them. This pattern is clear in the drilling results. The higher grade sections of the BR Zone seem to be in lenses that require more drilling to define. The top of the mineralization has been less than 50 m below surface and appears to be gently dipping to the west as does the topography.

Drill holes M-05-33 and 35 indicate an area of high grade PGM values requiring more drilling and the area around M-04-21 and M-05-44 is also an area of high grade PGM and moderate copper values requiring more drilling. The lower intersection in M-05-44 of 24 m grading 1.19 PGM and 0.26% Cu was under fine grained gabbro that now appears to be a slab floating in the coarse grained gabbro. Drill holes M-05-45 and 46 drilled south of M-05-44 intersected iron and copper sulfides that appear to be the same zone but project farther east opening up the area between the BR and RD zones east of the access road to potential resources.



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Est.
Inter- True Total
Hole From To section width Pd Pt Au PGM Cu
(m) (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%)
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M-05-35 36.0 44.0 8.0 5.6 1.84 0.96 0.27 3.07 0.05
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M-05-36 28.0 32.0 4.0 2.8 0.76 0.23 0.09 1.08 0.12
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80.0 82.0 2.0 1.4 3.76 1.84 0.06 5.66 0.04
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M-05-37 50.0 56.0 6.0 6.0 1.11 0.62 0.12 1.85 0.05
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94.0 102.0 8.0 8.0 0.67 0.48 0.11 1.26 0.61
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M-05-38 24.0 26.0 2.0 1.8 1.72 0.84 0.01 2.57 0.01
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60.0 72.0 12.0 9.6 0.72 0.31 0.12 1.15 0.19
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106.0 116.0 10.0 8.0 0.20 0.06 0.01 0.27 0.19
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M-05-39 44.0 48.0 4.0 2.8 1.41 0.74 0.27 2.42 0.23
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66.0 74.0 8.0 5.6 0.13 0.06 0.05 0.24 0.18
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M-05-40 64.0 68.0 4.0 3.0 0.83 0.45 0.13 1.41 0.06
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88.0 92.0 4.0 3.0 1.26 0.48 0.20 1.94 0.23
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M-05-41 60.0 64.0 4.0 4.0 0.99 0.33 0.08 1.40 0.14
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84.0 92.0 8.0 8.0 0.06 0.04 0.05 0.15 0.16
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M-05-42 52.0 60.0 8.0 7.0 2.01 0.58 0.07 2.66 0.20
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68.0 70.0 2.0 1.8 1.44 0.42 0.06 1.92 0.20
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96.0 102.0 6.0 4.8 0.47 0.21 0.09 0.77 0.29
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M-05-43 54.0 58.0 4.0 2.8 3.41 0.94 0.12 4.47 0.05
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98.0 112.0 14.0 9.8 0.09 0.03 0.07 0.16 0.16
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M-04-44 46.0 54.0 8.0 8 8.51 2.05 0.41 10.97 0.12
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72.0 96.0 24.0 24 0.79 0.27 0.13 1.19 0.26
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includes 72.0 86.0 14.0 14 1.20 0.41 0.20 1.81 0.30
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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

CEO & Director

NOTE: A map is available on CCNMatthews' website at: http://www2.ccnmatthews.com/database/fax/2000/mar0726.pdf

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

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