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Marathon Gold Corp
Symbol MOZ
Shares Issued 159,431,702
Close 2018-09-06 C$ 0.89
Market Cap C$ 141,894,215
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Marathon Gold drills 149 m of 1.54 g/t Au at Valentine

2018-09-06 07:32 ET - News Release

Mr. Phillip Walford reports

INFILL DRILLING AT MARATHON DEPOSIT CONFIRMS THICK CONTINUOUS MINERALIZATION, 1.54 G/T AU OVER 149.0 METERS, VALENTINE LAKE GOLD CAMP, NEWFOUNDLAND

Marathon Gold Corp. has intersected a very wide, continuous interval of gold mineralization at open-pit depths within the northeast end of the main mineralized corridor of the Marathon deposit. Drill hole MA-18-303 was very successful in intersecting high-grade gold intervals within en echelon stacked QTP veining including 1.54 grams per tonne gold over 149.0 metres with 6.60 g/t Au over 5.0 m, 6.35 g/t Au over 6.0 m and 4.86 g/t Au over 6.0 m, as well as 1.47 g/t Au over 10 m (including 8.08 g/t Au over one m) and 6.54 g/t Au over 3.0 m. This drill hole was part of the current continuing infill drilling program at the Marathon deposit designed to upgrade inferred to the measured and resource category.

"The intersection of such a wide thick interval of mineralization with good gold grades in the pit shell is very encouraging in upgrading the Marathon resource," said Phillip Walford, president and chief executive officer of Marathon Gold. "The infill program is going very well to upgrade the resources in advance of the prefeasibility study. We are also drilling to reduce the strip ratios of the current resource pits and seeking new pit resources at Victory Southwest to build on the economic model from the very positive PEA released May 17, 2018."

               SIGNIFICANT ASSAY INTERVALS, MARATHON DEPOSIT, VALENTINE LAKE GOLD CAMP

Hole          From (m)     To (m)   Core length (m)   True thickness (m) Gold (g/t)   Gold (g/t, cut)*

MA-18-303          39         42                 3                  2.9       4.18
                   55         58                 3                  2.9       0.86
                   62         65                 3                  2.9       1.54
                   68         73                 5                  4.8       2.23
                   79         89                10                  9.5       1.47
including          88         89                 1                 0.95       8.08
                  100        249               149                141.6       1.54
including         109        111                 2                  1.9       4.43
including         129        134                 5                  4.8       6.60
including         144        148                 4                  3.8       4.27
including         185        191                 6                  5.7       6.35
including         208        210                 2                  1.9       4.38
including         229        235                 6                  5.7       4.86
                  297        302                 5                  4.8       3.89
                  307        310                 3                  2.9       1.78
                  364        367                 3                  2.9       1.68
                  386        389                 3                  2.9       3.72
                  398        401                 3                  2.9       6.54
                  408        411                 3                  2.9       1.86
                  427        430                 3                  2.9       1.53
                  446        449                 3                  2.9       1.77
MA-18-302          57         60                 3                  2.9       3.04
                  302        305                 3                  2.9       3.60
                  358        361                 3                  2.9       2.46
                  482        487                 5                  4.8       3.33
                  496        499                 3                  2.9       5.75
                  594        604                10                  9.5       1.86
including         601        604                 3                  2.9       3.10
MA-18-301          48         52                 4                  3.8       0.77
                  110        113                 3                  2.9       0.86
                  211        214                 3                  2.9       1.11
                  303        306                 3                  2.9       2.49
MA-18-300          11         15                 4                  3.6       1.45
                   43         53                10                  9.0       2.64
including          47         52                 5                  4.5       4.87
                   58         61                 3                  2.7       1.39
                  130        133                 3                  2.7       2.62
                  373        376                 3                  2.7       1.98
                  398        402                 4                  3.6      21.10             11.61
                  458        461                 3                  2.7       2.40
MA-18-299          84         87                 3                  2.9       1.43
                  485        488                 3                  2.9       4.68
MA-18-298          27         30                 3                  2.7       2.57
                   43         55                12                 10.8       1.98
including          47         50                 3                  2.7       6.87
                  512        515                 3                  2.7       3.11
                  529        533                 4                  3.6       5.06
                  621        624                 3                  2.7       2.64
                  631        634                 3                  2.7       1.36
                  
* Cut to 45 g/t Au.

Acknowledgments

Marathon acknowledges the financial support of the junior exploration assistance program, Department of Natural Resources, government of Newfoundland and Labrador.

Quality assurance/quality control

Sherry Dunsworth, MSc, PGeo, senior vice-president of exploration, Marathon's qualified person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Ltd. in Springdale, Nfld. All reported core samples are analyzed for Au by fire assay (30 grams) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in the table as core lengths and estimated true thickness (90 to 95 per cent of core length).

About Marathon Gold Corp.

Marathon Gold is a high-quality growth-oriented gold development company with a long-term strategy of moving the 100-per-cent-owned Valentine Lake gold camp through to production in central Newfoundland. Marathon recently completed a positive preliminary economic assessment that shows an average annual production of 188,500 ounces per year over the first 10 years, payback of 2.8 years, net present value (5 per cent) of $367-million (U.S.) and an internal rate of return of 25.3 per cent, all after tax. The Valentine Lake gold camp currently hosts four near-surface, mainly pit-shell-constrained deposits with measured and indicated resources totalling 2,137,100 ounces of gold at 1.99 g/t and inferred resources totalling 1,104,800 oz of gold at 1.99 g/t.

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