Marathon PGM Corporation

August 23, 2005 17:27 ET

Marathon PGM Corporation Adds to Land Holdings

TORONTO, ONTARIO--(CCNMatthews - Aug. 23, 2005) - Marathon PGM Corporation (TSX VENTURE:MAR) (the "Company") is pleased to announced that it has added 1,056 hectares to its current 3,286 hectares on the Company's 100% owned Marathon PGM Property ( the "Property"). Three claim blocks, 3015160, 3015161 and 3015162 were staked by the Company and three claim blocks, 1247007, 1247010 and 1247011 were purchased from two residents of Thunder Bay. The Property now consists of two Crown Leases and 19 unpatented mining claim blocks. The total land position is 4,342 hectares.

The claims staked by the Company are 100% owned with no royalty. The other three claim blocks were purchased for Cdn $24,000 plus a 3% defined net smelter return to the vendors. The net smelter royalty can be reduced by 1% by making a payment of Cdn $1 million. The claims are contiguous with the south end of the Property and cover the southern extension of a magnetic feature that appears to be related to the known mineralization in the north of the Property. The total length of the strike now covering the favourable contact of the intrusive gabbros of the Coldwell Complex and the older volcanic and sedimentary rocks now exceeds 12 km.

The drill program currently underway has now completed a total of 38 holes in the BR, Malachite and RD Zones. The drill has now moved to the Main Zone to begin definition drilling. While the drilling has progressed well, there has been a serious delay with assays because of the assay company's move to a new location. There are samples from 16 holes at the laboratory. The assay company has stated that they expect to be operating normally this week and will be working to clear up the backlog as quickly as possible.

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

On Behalf of the Board of Directors,
"Phillip C. Walford"
Phillip C. Walford
V.P. Exploration & Director

NOTE: A map is available on CCNMatthews' website at:

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

Contact Information