Marathon drills 52 m of 0.49 % Cu and 0.96 g/t PGM and Au: Exceeding
Expectations at Geordie Lake

TORONTO, March 30 /CNW/ - Marathon PGM Corporation (MAR-TSX) ("Marathon") reports that the winter drilling campaign at the Geordie Lake Deposit is now complete. Drilling results will be incorporated into the new resource estimate that is to be released in Q2. The 100% owned Geordie Lake PGM-Cu Deposit ("Geordie Lake") is located 10 km northwest of the town of Marathon, Ontario.

    
    Highlights:

    -  hole G-10-17 intersected 52 m of 0.49 % Cu, 0.96 g/t PGM and Au and
       4.5 g/t Ag
    -  Main Zone intersections in 20 of 21 holes exceed the average grade of
       current resource
    -  Main Zone mineralization above 0.5 % Cu cut-off now up to 36 m thick
       and 800 m along strike (longitudinal section
       http://www.marathonpgm.com/images/geordielakelongsection.jpg )
    -  Hanging Wall and Main Zones of higher grade mineralization remain
       open along strike and down dip
    -  updated NI 43-101 compliant resource to be completed in Q2
    

"This winter's Geordie Lake drill program was highly successful. We finished the campaign on time, on budget and hit some of the highest grade and widest intersections ever seen at Geordie," said Phillip Walford, President and CEO. "Our estimate of the resource potential has gone up considerably. More drilling is certainly justified".

    
    Final Results from Geordie Lake Drilling
    ----------------------------------------

    -------------------------------------------------------------------------
                                                            Total
                            True                              PGM
      Hole     From    To  Width  Zone   Pd     Pt     Au  and Au    Ag   Cu
                (m)    (m)   (m)       (g/t)  (g/t)  (g/t)  (g/t)  (g/t)  (%)
    -------------------------------------------------------------------------
    G-10-17   194.0  246.0  52.0   MZ   0.85   0.06   0.06   0.96  4.50  0.49
    -------------------------------------------------------------------------
    includes  216.0  242.0  26.0   MZ   1.27   0.09   0.08   1.43  5.40  0.69
    -------------------------------------------------------------------------
    G-10-18   140.0  152.0  12.0   HW   0.40   0.03   0.03   0.46  1.59  0.33
    -------------------------------------------------------------------------
    includes  170.0  198.0  28.0   MZ   0.94   0.06   0.06   1.07  2.24  0.42
    -------------------------------------------------------------------------
    includes  186.0  192.0   6.0   MZ   1.31   0.08   0.09   1.48  3.98  0.75
    -------------------------------------------------------------------------
    G-10-19   142.0  108.0  38.0   MZ   0.64   0.04   0.05   0.74  2.02  0.41
    -------------------------------------------------------------------------
    G-10-20   124.0  178.0  54.0   MZ   0.62   0.03   0.05   0.70  1.61  0.42
    -------------------------------------------------------------------------
    includes  158.0  178.0  20.0   MZ   0.87   0.05   0.06   0.98  2.28  0.64
    -------------------------------------------------------------------------
    G-10-21    23.0   43.0  20.0   HW   0.52   0.03   0.04   0.58  1.31  0.29
    -------------------------------------------------------------------------
    includes   51.0   79.0  28.0   MZ   0.49   0.02   0.04   0.56  1.20  0.38
    -------------------------------------------------------------------------
    includes   73.0   79.0   6.0   MZ   0.77   0.04   0.05   0.87  2.57  0.75
    -------------------------------------------------------------------------
    HW - hanging wall zone, MZ - main zone
    

Mineralization, Geology, Drilling and Resource Estimate

Mineralization at the Geordie Lake Deposit is hosted within two thick and continuous PGM-Cu sulphide zones that strike north-south and dip at ~45 degrees to the west. The Main Zone is up to 62 m thick and occurs at the base of the layered gabbro. The Hanging Wall Zone is generally less than 20 m thick and of lower grade. An 8 to 36 m thick subzone containing 0.5 to 1.5 % Cu is located at the base of the Main Zone and is continuous along strike for over 800 m. This subzone is open down dip and along strike as shown in the Geordie Lake longitudinal section (http://www.marathonpgm.com/images/geordielakelongsection.jpg).

The current Geordie Lake resource is based on 34 drill holes and will be updated in Q2 with results from the recent 21 drill holes (drill location map http://www.marathonpgm.com/images/geordielakedrillmap.jpg ). Drilling was focused on thicker zones of PGM-Cu enriched basal mineralization and are expected to improve the grade and tonnage.

Mineralization has been identified in 55 drill holes over a strike length of 1.5 km and is open in both directions along strike and down dip. Expansion potential to the north is exceptional as recent rock sampling carried out by Marathon returned anomalous copper and PGM values, but no drilling has been completed in the area.

The current Geordie Lake measured and indicated mineral resource is 25.99 million tonnes grading 0.35 % Cu, 0.55 g/t Pd, 0.03 g/t Pt, 0.05 g/t Au, and 2.35 g/t Ag, and containing 195.7 million lbs of Cu, 456,800 ounces of Pd, 28,400 ounces of Pt, 45,800 ounces of Au, and 1.94 million ounces of Ag. The resource estimate of the Geordie Lake Property was performed by independent geological consultants and Qualified Persons, G.H. Giroux, P.Eng of Giroux Consultants of Vancouver, British Columbia ("Giroux") and Alan Stanley, P.Geo, and presented in the NI 43-101 Geordie Lake Technical Report (http://www.marathonpgm.com/news/2008/080708.pdf) press release dated July 8, 2008. Marathon is pursuing the Geordie Lake resource as a possible satellite deposit to the larger Marathon PGM-Cu deposit located 14 kilometers to the east, where the Company has completed a feasibility study recommending a processing rate of 22,000 tpd. The Geordie Lake Deposit could add significantly to the operating life of the Marathon PGM-Cu project.

All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario, to be assayed using fire assay and other standard techniques.

David Good, Ph.D., P.Geo., VP of Exploration is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Dr. Good has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.

About Marathon PGM Corporation:

Marathon is exploring resource development potential in the immediate vicinity of the Marathon deposit to expand mine 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 development of additional nearby resources. Marathon's optimized P+P reserve of 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 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.

%SEDAR: 00020574E

For further information: David Leng, P.Geo., Tel: [phone], [email protected]