Mr. Matt Manson reports

MARATHON GOLD PUBLISHES 2022 SUSTAINABILITY REPORT

Marathon Gold Corp. has published its 2022 sustainability report for the Valentine gold project in the central region of Newfoundland and Labrador.

Matt Manson, President, and CEO commented "This is our second annual Sustainability Report for the Valentine Gold Project, a mining project under full construction. During 2022, we saw the completion of what was three years of social and environmental assessment for Valentine, with approvals to proceed to construction received from both the Newfoundland and Labrador and federal regulators. As I write this, we have completed approximately 11 months of construction, and are on track to deliver first gold in the first quarter of 2025."

Matt Manson continued "With more than 440 people employed as either a contractor or Marathon employee, the Valentine Gold Project has already become one of Newfoundland and Labrador's largest employers. The most important statistic in any mining project is health and safety, and I am proud that the 2022 Sustainability Report shows a safe workplace for our people. This will always take priority in our business. The report also describes our approach to the social, environmental, and cultural responsibilities we carry as the developer of what will be the largest gold mine in the Atlantic Canada region, and the largest mine of any type on the island of Newfoundland."

Marathon's 2022 Sustainability Report is now available at: https://marathon-gold.com/environmental-social-and-governance/.

About Marathon

Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Project comprises a series of five mineralized deposits along a 32-kilometre system. A December 2022 Updated Feasibility Study outlined an open pit mining and conventional milling operation producing 195,000 ounces of gold a year for 12 years within a 14.3-year mine life. The Project was released from federal and provincial environmental assessment in 2022 and construction commenced in October 2022. The Project has estimated Proven Mineral Reserves of 1.43 Moz (23.36 Mt at 1.89 g/t) and Probable Mineral Reserves of 1.27 Moz (28.22 Mt at 1.40 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 2.06 Moz (29.23 Mt at 2.19 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.90 Moz (35.40 Mt at 1.67 g/t). Additional Inferred Mineral Resources are 1.10 Moz (20.75 Mt at 1.65 g/t Au). Please see the NI 43-101 Technical Report "Valentine Gold Project, NI 43-101 Technical Report and Feasibility Study" effective November 30, 2022, Marathon's Annual Information Form for the year ended December 31, 2022 and other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and assumptions relating to the Valentine Gold Project.

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