Mr. Phillip Walford reports

MARATHON GOLD ANNOUNCES AMENDMENT TO NEWS RELEASE DISCLOSURE

Marathon Gold Corp. has amended its disclosure record in recent press releases as it relates to the reporting of mineral resource estimates in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

In Marathon's press releases dated May 15, May 22, June 4 and July 11, 2019, the section in each release, entitled About Marathon Gold Corp., reported the aggregate grade and contained ounces associated with the most recently announced mineral resource estimate for the Valentine gold camp, which was communicated initially in a press release dated Oct. 30, 2018. This practice is not in accordance with NI 43-101, which requires any reporting of mineral resource information to include tonnage with the grade. The tonnage is now included in the resource statement.

Marathon presents below the details and main assumptions concerning its most recent mineral resource estimate. It is important to note that this estimate does not reflect the results of the 38,000 metres of drilling completed since September, 2018, on the four deposits associated with the Valentine gold camp, the results of the successful metallurgical program completed in the second quarter of 2019 on lower-grade material from the Leprechaun and Marathon deposits, and the potential impact of higher gold prices.

Qualified person

Phillip Walford, professional geoscientist, president and chief executive officer, Marathon's qualified person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.

About Marathon Gold Corp.

Marathon is a Toronto-based gold company rapidly advancing its 100-per-cent-owned Valentine gold camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. Marathon has confirmed the feasibility of the Valentine gold camp, which currently hosts four near-surface NI 43-101-compliant, mainly pit-shell-constrained, deposits with measured resources totalling 16.6 million tonnes at a grade of 2.18 grams per tonne (g/t), containing 1,166,500 ounces of gold, indicated resources totalling 28.5 million tonnes at a grade of 1.66 g/t, containing 1,524,900 ounces of gold, and inferred resources totalling 26.9 million tonnes at a grade of 1.77 g/t, containing 1,531,600 ounces of gold. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open-pit shell. Both deposits are open at depth and on strike.

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