Mr. Phillip Walford reports

MARATHON'S DEEP DRILLING INTERSECTS 5.0 METERS OF 11.08 G/T AU AT DEPTH OF 900 METERS (3,000 FT.), VALENTINE LAKE GOLD CAMP, NEWFOUNDLAND

Marathon Gold Corp. has released high-grade gold assays through thick intervals of stacked quartz-tourmaline-pyrite (QTP) veining with visible gold in drill holes MA-17-174 and MA-17-175, the deepest holes ever drilled at the Marathon deposit, Valentine Lake gold camp. These subvertical holes, spaced 180 metres apart along strike, were drilled down through the mineralized corridor of the Marathon deposit and both intersected abundant, wide intervals of QTP (quartz-tourmaline-pyrite) veining with numerous occurrences of visible gold (VG) at depths of up to 950 metres. As a result of drilling from 2014 to date, the uniformity of mineralization in the Marathon deposit, encountered both at depth and along strike, is indicative of an extensive and strong mineralizing system.

Drill hole MA-17-175 intersected wide intervals of intermittent moderate to high-grade gold to depths of 966 metres, including 1.77 g/t Au over 101 metres with 6.48 g/t Au over seven metres and 7.92 g/t Au over four metres, 4.09 g/t Au over 19.0 metres with 12.54 g/t Au over five metres and 3.25 g/t Au over 32.0 metres with 11.08 g/t over five metres. Drill hole MA-17-174 continued to return significant intermittently spaced gold intervals to a depth of 782 metres along the hangingwall edge of the mineralized corridor. The deeper intervals included 3.05 g/t Au over three metres, 6.65 g/t Au over three metres and 3.31 g/t Au over three metres. Both of these deep drill holes clearly demonstrate the potential for definition of additional gold resources beneath the lower limit of the February, 2017, resource body.

Marathon deposit model

The Marathon deposit is a classic orogenic gold deposit. These types of gold deposits are found throughout the world and have produced the majority of the world's gold. The Timmins and Val d'Or orogenic-type gold deposits are noted for having gold deposited at more than two kilometres of depth, which gives them great underground mining potential. The company sees the same underground mining potential at the Marathon deposit.

Highlights:

• Best intercepts in MA-17-174 included 1.36 g/t Au over 76.0 metres with 3.37 g/t Au over 20.0 metres as well as deeper intercepts of 3.05 g/t Au over three metres, 6.65 g/t Au over three metres and 3.31 g/t Au over three metres.
• Best intercepts in MA-17-175 included 1.77 g/t Au over 101.0 metres with 6.48 g/t Au over seven metres and 7.92 g/t Au over four metres, 4.09 g/t Au over 19.0 metres with 12.54 g/t Au over five metres and 3.25 g/t Au over 32.0 metres with 11.08 g/t over five metres.
• The two drill holes intersected numerous narrow, high-grade zones at depth separated by lower-grade material. The extensive nature of this mineralization on the hangingwall of the mineralized corridor suggests that there may be better mineralization toward the centre of the corridor and that will require additional drilling to prove up.
• Drill holes MA-17-176, MA-17-178 and MA-17-179 were designed to pass through the mineralized corridor at higher elevations than MA-17-174 and MA-17-175 and have successfully encountered typical QTP veins with visible gold. Assays for these three holes are pending.

"The results of the deep exploration drilling of MA-17-174 and MA-17-175 are very exciting. The potential for deep gold mineralization has been clearly demonstrated. The stage is set for exploring to depth for underground resources and additional open-pit resources at the Marathon deposit. Our goal for the next phase of drilling is to rapidly develop these resources by following the 40- to 100-metre-wide mineralized corridor of gold mineralization, which is open along strike in both directions, and also extends to at least 1,000 metres in depth and possibly more," said Phillip Walford, president and chief executive officer.

      SIGNIFICANT FIRE ASSAY INTERVALS FROM DRILL HOLES MA-17-174 AND 
        MA-17-175, MARATHON GOLD DEPOSIT, VALENTINE LAKE GOLD CAMP 

DDH          From    To      Core length       True thickness        Gold  
No.           (m)   (m)              (m)                  (m)       (g/t)

MA-17-174      33    37                4                  3.8       2.35*
              204   207                3                  2.9       3.00*
              223   299               76                 72.2       1.36*
including     279   299               20                 19.0       3.37*
              342   377               35                 33.3       1.80*
including     357   361                4                  3.8       8.57*
              399   402                3                  2.9        1.26
              412   420                8                  7.6        1.08
              467   471                4                  3.8        1.49
              476   479                3                  2.9        2.03
              482   485                3                  2.9        1.29
              503   506                3                  2.9        2.60
              515   518                3                  2.9        3.05
              521   524                3                  2.9        1.51
              664   667                3                  2.9        1.42
              707   710                3                  2.9        1.47
              720   723                3                  2.9        6.65
              759   764                5                  4.8        2.65
              767   770                3                  2.9        2.54
              779   782                3                  2.9        3.31
MA-17-175     196   297              101                 96.0        1.77
including     205   212                7                  6.7        6.48
including     216   223                7                  6.7        3.98
including     227   230                3                  2.9        3.20
including     233   238                5                  4.8        4.16
including     247   251                4                  3.8        7.92
              279   283                4                  3.8        3.24
              531   550               19                 18.1        4.09
including     543   548                5                  4.8       12.54
              570   573                3                  2.9        3.05
              643   646                3                  2.9        2.60
              767   770                3                  2.9        1.69
              804   807                3                  2.9        1.45
              839   843                4                  3.8        2.64
              851   854                3                  2.9        1.47
              881   913               32                 30.4        3.25
including     888   893                5                  4.8       11.08
              948   951                3                  2.9        2.85
              962   966                4                  3.8        3.13

* Previously released interval (April 13, 2017).                 

Acknowledgments

Marathon acknowledges the financial support of the JEA program, Department of Natural Resources, government of Newfoundland and Labrador. The Research & Development Corp. of Newfoundland and Labrador has granted approximately 75 per cent of the costs of the current seismic program to Marathon Gold and the company appreciates this support.

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 were 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 thicknesses (75 per cent to 95 per cent of core length).

About Marathon Gold Corp.

Marathon is a gold exploration company rapidly advancing its 100-per-cent-owned Valentine Lake gold camp located in Newfoundland, one of the top mining jurisdictions in the world. The Valentine Lake gold camp currently hosts four near-surface, mainly pit-shell-constrained gold resources totalling 1,388,200 ounces gold at 1.91 g/t (measured and indicated) and 766,500 ounces gold at 2.24 g/t (inferred) (February, 2017).

We seek Safe Harbor.