Mr. Matt Manson reports

MARATHON GOLD ANNOUNCES RECEIPT OF FINAL COURT ORDER FOR ARRANGEMENT WITH CALIBRE

The Ontario Superior Court of Justice (Commercial List) has granted the final order in connection with the previously announced statutory plan of arrangement involving Marathon Gold Corp. and Calibre Mining Corp., pursuant to which Marathon shareholders (other than Calibre) will receive 0.6164 of a common share of Calibre for each common share of Marathon held.

Closing of the arrangement remains subject to certain customary closing conditions. Assuming the satisfaction of these closing conditions, the arrangement is expected to be completed on Jan. 24, 2024.

For a more detailed description of the arrangement, please refer to Marathon's management information circular dated Dec. 11, 2023, available on SEDAR+ and on Marathon's website.

About Marathon Gold Corp.

Marathon is a Toronto-based gold company advancing its 100-per-cent-owned Valentine gold project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Valentine gold 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 Valentine gold project was released from federal and provincial environmental assessment in 2022, and construction commenced in October, 2022.

We seek Safe Harbor.