08:13:58 EDT Mon 25 May 2020
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Marathon Gold Corp
Symbol MOZ
Shares Issued 179,098,202
Close 2020-03-13 C$ 1.00
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Marathon to close Valentine early amid virus concerns

2020-03-13 16:22 ET - News Release

Mr. Matt Manson reports

MARATHON GOLD PROVIDES UPDATE ON VALENTINE PROJECT SITE ACTIVITIES DURING COVID-19

Marathon Gold Corp. is providing an update on site activities at its Valentine gold project, located in central Newfoundland, in response to the continuing concerns around COVID-19.

Marathon is currently conducting a 44,000-metre exploration drill program at the Valentine gold project and a separate site condemnation drill program, with three drill rigs and approximately 50 people in its exploration camp. This work is progressing ahead of schedule. As of this weekend, the company will have completed 57 exploration drill holes over 9,554 metres in the areas of the Sprite corridor and Footwall zone 1 and 21 condemnation drill holes over 2,937 metres in the area of the proposed waste rock pile for the Marathon deposit.

The Valentine gold project is considered to be a remote work environment and, with the well-being of its employees and contractors in mind, the company has assessed that should a team member present symptoms of COVID-19 at camp, it would be unable to follow the appropriate protocols of self-isolation and care management required. Accordingly, the company has elected to close its camp for the annual spring break-up and maintenance period approximately two weeks earlier than is typical at this time of the year. During this extended spring closure, which is now expected to continue for approximately one month, the camp will be staffed with a normal two-person to three-person site management crew.

Given the information currently at hand, and the work completed to date, the company does not anticipate that this early spring site closure will materially impact its overall 2020 exploration and site condemnation program, subject to revised work protocols being developed and adopted in the interim.

Work continues on its continuing prefeasibility study for the Valentine gold project, which is expected to be completed on schedule early in the second quarter.

Acknowledgments

Marathon acknowledges the financial support of the junior exploration assistance program, department of natural resources, government of Newfoundland and Labrador.

About Marathon Gold Corp.

Marathon is a Toronto-based gold company advancing its 100-per-cent-owned Valentine gold project located in central Newfoundland, one of the top mining jurisdictions in the world. The Valentine gold project comprises a series of mineralized deposits along a 20-kilometre system of gold-bearing quartz-tourmaline-pyrite veins.

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