Marathon Charts A Course for the Future

TORONTO, Sept. 10 /CNW/ - Marathon PGM Corporation (MAR-TSX) ("Marathon") announced details about Marathon Gold Corporation and the acquisition offer from Stillwater Mining Company (NYSE-SWC, "Stillwater").

Highlights:

    
    -   the Stillwater acquisition offer is structured to deliver shareholder
        value:
        one MAR share = 0.112 SWC share + C$1.775 cash + 0.5
        Marathon Gold Corporation share
    -   Marathon Gold Corporation is projected to have C$6 million cash and
        approximately 18 million shares upon completion of the transaction
    -   the Special Meeting of Marathon shareholders to approve the
        transaction is being planned for mid November 2010
    

"The news of Stillwater's acquisition offer confirms our long-term view that the Marathon Project would deliver value for our shareholders. The offer has been well received by the market and we are pleased to see this strong response to the news," said Phillip Walford, Marathon's President and Chief Executive Officer. "Over the next few months, we will be preparing for Marathon Gold's acquisition of the gold assets and continuation as a stand-alone company after the arrangement. We see the company as a pure gold play, backed with a strong cash base and with only 18 million shares outstanding."

Phillip Walford, P.Geo., President and Chief Executive Officer is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Mr. Walford has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.

About Marathon PGM Corporation:

Marathon is actively developing resources in the immediate vicinity of the Marathon Deposit to expand the life of the planned large tonnage, open pit mining operation. The Marathon Deposit is one of the largest PGM-Cu reserves in Canada and is expected to grow with the development of additional nearby resources. Marathon's optimized P+P reserve of approximately 91.45 million tonnes grading 0.832 g/t Pd, 0.237 g/t Pt, 0.085 g/t Au, 0.247% Cu and 1.44 g/t Ag, contains approximately 2.44 million ounces of Pd, 696,000 ounces of Pt, 251,000 ounces of Au, 497 million lbs of Cu and 4.23 million ounces of Ag. Marathon also has development and exploration stage properties in southeastern Manitoba and western Newfoundland respectively. Marathon's Management plans to build on its experience through the advancement of its properties and by examining other strategic opportunities.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Management's Discussion and Analysis for the year ended December 31, 2009.

Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

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For further information: David Leng, P.Geo:., Direct: +1.416.849.3432, Mobile: [phone], [email protected]