Mr. Matthew Manson reports

MARATHON GOLD ANNOUNCES APPOINTMENT OF HANNES PORTMANN AS CHIEF FINANCIAL OFFICER

Marathon Gold Corp. has appointed Hannes Portmann as chief financial officer, effective Oct. 16, 2019.

Mr. Portmann is a mining executive with significant financial management and capital markets experience. Most recently (2008 to 2018) he was employed by New Gold Inc. in a series of progressively more senior roles including executive vice-president, business development, and ultimately, president and chief executive officer. Prior to New Gold, he was a member of the Merrill Lynch investment banking mining group (2006 to 2008) and the assurance and advisory practices of PricewaterhouseCoopers LLP (2002 to 2006). Mr. Portmann is a chartered professional accountant.

Matt Manson, president and CEO, stated: "On behalf of the board of directors, I am excited to welcome Hannes to the Marathon Gold team. Hannes will assume immediate responsibility for the day-to-day financial management of our business. At the same time, he will take on an expanded mandate covering business development, drawing upon his extensive mining industry and capital markets experience. Hannes's skill sets are extremely complementary to those of our existing senior leadership team, and I look forward to partnering with him as we move forward with the development of the Valentine gold project in Newfoundland."

Mr. Portmann holds a bachelor of science in mining engineering from Queen's University and a master of management and professional accounting from the Rotman School of Management, University of Toronto. Mr. Portmann is also a member of the board of directors of SilverCrest Metals Inc.

Mr. Manson added: "We also wish to express our gratitude to Jim Kirke, chief financial officer and corporate secretary, who will be leaving the company after a transitionary period. Mr. Kirke has played an integral part in the success of Marathon Gold and its predecessor companies, and we wish him well in his future endeavours."

About Marathon Gold Corp.

Marathon is a Toronto-based gold company rapidly 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. The project is accessible by year-round road and is in close proximity to the provincial electrical grid. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits.

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, government of Newfoundland and Labrador.

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