MARATHON STEP-OUT HITS 9.57 G/T (CUT) AU OVER 6.30 M (TT) AT VALENTINE PROJECT

Marathon Gold Corp. has released further very positive results from deep drilling of the Main zone at the Leprechaun gold deposit, Valentine Lake project, Newfoundland.

The drilling focused on targeting up to 100 meter down-dip extensions of high-grade Main Zone gold intercepts identified in earlier drilling by Marathon. These holes were drilled after the 2012 fall resource was estimated and were not included in that resource.

Highlights include:

New Main Zone high-grade cut gold intercepts: 9.57 g/t Au over 6.30 meters (TT) with 35.00 g/t Au (48.96 g/t Au uncut) over 0.90 meters (TT) in VL-12-504 (Photo 1).

New Main Zone high-grade cut gold intercepts: 6.91 g/t Au over 8.10 meters (TT) with 35.00 g/t Au (287.11 g/t uncut) over 0.90 meters (TT) in VL-12-503 (Photo 2).

Additional significant gold intercepts include 3.53 g/t Au over 5.40 meters (TT) with 8.80 g/t Au over 0.90 meters in VL-12-502, 4.60 g/t Au over 3.60 meters (TT) with 12.61 g/t Au over 0.90 m in VL-12-503, and 5.38 g/t Au over 2.70 meters (TT) with 15.36 g/t Au over 0.90 m in VL-12-505.

The new high-grade Main Zone gold intercepts represent 100 meter down dip step-outs from previous Marathon drilling of the Main Zone and show the continuation of the high-grade gold lenses well into the underground resource region of the Leprechaun Gold Deposit.

"The intersection of wide, high-grade Au intervals, 100 meters down dip of previous drilling on the Main Zone of the Leprechaun Gold Deposit is extremely positive", said Phillip Walford, President and CEO of Marathon. "We designed the drilling to hit down-dip projections of the Main Zone high-grade ore shoots and our model continues to prove correct as we advance the search for, and growth of our underground resource. The drill intersections demonstrate that the Leprechaun Gold Deposit is open to depth and that Main Zone mineralization continues with good grades down dip. The alteration and mineralization appears to be increasing to the north in the hanging wall"

TABLE 1: Significant Assay Intervals from drill holes at the Leprechaun Gold Deposit.

 

DDH      SectionZoneFromTo Core LengthTT(m)Gold(g/t) UncutGold(g/t) Cut*VL-12-502 10340  MZ 181 185     4      3.6      1.58                                     MZ 227 230     3      2.7      1.07                                     MZ 288 294     6      5.4      3.53                    including        MZ 288 289     1      0.9      8.80                    VL-12-503 10280  MZ 185 188     3      2.7      2.58                    including        MZ 186 187     1      0.9      6.56                                     MZ 217 221     4      3.6      4.60                    including        MZ 220 221     1      0.9      12.61                                    MZ 227 230     3      2.7      1.10                                     MZ 240 243     3      2.7      1.96                                     MZ 261 270     9      8.1      8.46           6.91     including        MZ 267 268     1      0.9      48.96         35.00     VL-12-504 10010  HW  26 29      3       3       1.57                                     MZ 188 191     3      2.7      2.40                                     MZ 243 246     3      2.7      5.18                                     MZ 300 303     3      2.7      2.37                                     MZ 314 321     7      6.3      45.58          9.57     including        MZ 315 316     1      0.9     287.11         35.00                      MZ 338 341     3      2.7      5.09                    VL-12-505 10410  HW 113 116     3     2.85      1.06                                     HW 123 126     3     2.85      2.28                                     MZ 264 268     4      3.6      1.32                                     MZ 291 294     3      2.7      5.38                    including        MZ 291 292     1      0.9      15.36                   

 

Note the 35 g/t capping level in the Main Zone was determined by RPA for the latest 2012 resource.

The Valentine Lake Project is 100% owned by Marathon Gold Corporation (July 9, 2012 news release). Marathon has begun a 10,000 meter winter 2013 diamond drilling program focused along the highly prospective 23 kilometer strike length of the Valentine Lake Property. All grades in this release are uncut, and all thicknesses are estimated true thicknesses.

All of the samples were analyzed at Eastern Analytical Laboratory Ltd., in Springdale, Newfoundland. Samples were assayed using lead collection fire assay with AA (atomic absorption) finish. Due to the coarse nature of the gold at the Leprechaun Gold Deposit, the metallic screening method is used on economically important intersections using standard fire assay techniques. The reported values in this release are fire assay results.

Sherry Dunsworth, M.Sc., P. Geo., VP of Exploration, Marathon's Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.

About the Valentine Lake Project