Marathon Gold Corp. / MOZ, MGDPF (TOR, OTC)

Update der PEA mit weiter verbesserten Werten - MOZ entwickelt sich zu einem "Schätzchen"

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Marathon Gold Announces Substantial Improvements in Updated PEA with 44% Increase in Recovered Gold, at the Valentine Lake Gold Camp, Newfoundland

TORONTO, ON – October 30, 2018 - Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the excellent results from an updated independent Preliminary Economic Assessment study ("PEA") on its 100% owned Valentine Lake Gold Camp that was led by John T. Boyd Company and Lycopodium Minerals Canada. The new PEA optimizes the development of the Valentine Lake Gold Camp mineral resource by open pit mining, and gold recovery by a combination of a milling circuit and heap leaching, incorporating gravity and flotation circuits with leaching of the concentrate and tails. The study is based on an initial 12-year mine life and produced an after- tax Net Present Value (“NPV”) of $493 million using a 5% discount rate. The financial model shows an after- tax Internal Rate of Return ("IRR") of 30% and a capital payback period of 2.5 years. All dollar figures are reported in US$ and after-tax unless stated otherwise.

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Marathon Drills Continue Hitting High-Grade Gold in the Southwest with 5.36 g/t Au over 11.0 meters, 3.63 g/t Au over 10 meters, and 18.40 g/t Au over 6.0 meters, Valentine Lake Gold Camp, Newfoundland

Highlights:

Drilling
• Infill drill holes MA-18-330 and MA-18-334 succeeded in intersecting high-grade gold intervals that extend along strike to both the northeast and southwest into adjacent zones of previously drilled high-grade mineralization within the southwestern end of the Marathon Deposit open pit (Figure 1). MA-18-330 intersected 5.36 g/t Au over 11.0 meters with 10.67 g/t Au over 2.0 meters and 12.27 g/t Au over 2.0 meters, and MA-18-334 intersected 18.40 g/t Au over 6.0 meters with 104.39 g/t Au over 1.0 meter and 1.92 g/t Au over 23.0 meters with 5.45 g/t Au over 5.0 meters.

• Drill holes MA-18-323 and MA-18-325 intersected high-grade zones of gold at both shallow and deeper levels of the open pit with MA-18-323 returning 3.63 g/t Au over 10.0 meters with 8.51 g/t Au over 3.0 meters and MA-18-325 returning 4.64 g/t Au over 5.0 meters with 10.87 g/t over 2.0 meters (Figure 1).

• Positive drilling results from additional infill drill holes in this less drilled southwestern part of the expanding Marathon Deposit open pit included MA-18-329 with 8.22 g/t Au over 4.0 meters, MA-18-335 with 1.90 g/t Au over 5.0 meters including 6.37 g/t Au over 1.0 meter and MA-18-322 with1.55 g/t Au over 8.0 meters with 5.65 g/t Au over 1.0 meter.

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New High-Grade Gold Zones in the Southwest Marathon Deposit: 17.39 g/t Au over 5.0 m, 19.63 g/t Au over 3.0 m & 4.90 g/t Au over 13.0 m, Valentine Lake Gold Camp, Newfoundland

New Drilling Results:
• Drill holes into the southwestern end of the Marathon Deposit intersected new zones of highgrade gold in areas of previous minimal drilling (Figure 1): o MA-18-343 intersected 17.39 g/t Au over 5.0 meters with 42.76 g/t Au over 2.0 meters o MA-18-341 intersected 19.63 g/t Au over 3.0 meters with 56.04 g/t Au over 1.0 meters o MA-18-337 intersected 4.90 g/t Au over 13.0 meters with 24.49 g/t Au over 3.0 meters o MA-18-336 intersected 4.96 g/t Au over 9.0 meters with 18.21 g/t Au over 2.0 meters

Marathon Deposit Infill Drilling Confirms Continuity of High-Grade Gold Veining between adjacent Drill Holes in Pit Shell, Valentine Lake Gold Camp, Newfoundland

Drilling Highlights:
• The first 2 drill holes of the 2019 infill drilling campaign in the Marathon Deposit have succeeded in intersecting wide zones of QTP-Au veining with abundant visible gold in the open-pit core area of the main mineralized corridor; the success of these holes confirms the lateral continuity of the higher-grade gold mineralization between adjacent drill holes at shallow depths in the Marathon Deposit (Figure 1):
o MA-19-348 intersected 3.92 g/t Au over 23.0 meters with 8.98 g/t Au over 4.0 meters and 6.86 g/t Au over 3.0 meters and a separate interval of 3.55 g/t Au over 10.0 meters with 6.52 g/t Au over 3.0 meters and other high-grade intervals as in Table 1. o MA-19-349 intersected several good zones, 2.10 g/t Au over 29.0 meters including 5.43 g/t Au over 4.0 meters and 4.65 g/t Au over 4.0 meters, 1.96 g/t Au over 24.0 meters including 3.86 g/t Au over 6.0 meters, 4.88 g/t Au over 2.0 meters and 1.33 g/t Au over 38.0 meters .
• The excellent gold grades from infill drill holes MA-19-348 and MA-19-349, drilled subvertical, down through en-echelon stacked, shallow SW dipping QTP veining and located between adjacent strongly mineralized drill holes in the main zone, further confirms that the geological model we have been using for the Marathon Deposit and proves the extensive lateral continuity of the QTP bearing veins between adjacent drill holes.

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Marathon’s Infill Drilling Continues to Confirm Open-Pit, High-Grade Gold Continuity, Valentine Lake Gold Camp, NL

Drilling Highlights:
• The Marathon Deposit infill drill holes MA-19-350, MA-19-351 and MA-19-352 intersected wide zones of QTP-Au veining with visible gold over a strike length of 100 meters within the open-pit core region of the main mineralized corridor; further confirming the geological model for lateral continuity of the higher-grade gold mineralization between adjacent drill holes at shallow depths in the Marathon Deposit (Figures 1 and 2):
o MA-19-352 intersected 4.14 g/t Au over 27.0 meters including 9.71 g/t Au over 7.0 meters, and 2.32 g/t Au over 39.0 meters including 4.77 g/t Au over 6.0 meters as well as other high-grade intervals (Table 1 and Figure 2). o MA-19-351 intersected 2.73 g/t Au over 24.0 meters including 7.57 g/t Au over 3.0 meters and 15.44 g/t Au over 1.0 meter.
o MA-19-350 intersected 2.29 g/t Au over 24.0 meters including 5.37 g/t Au over 3.0 meters, 9.11 g/t Au over 1.0 meter and 8.35 g/t Au over 1.0 meter.
• The thick, high-grade gold intervals from the infill drill holes MA-19-350 to MA-19-352, which were drilled subvertical, down through en-echelon stacked, shallow southwest dipping QTP veining and located between adjacent strongly mineralized drill holes in the main zone, further confirm the geological model for the Marathon Deposit and the extensive lateral continuity of the QTP veining between adjacent drill holes.

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Marathon Gold Completes Sale of Royaltyto Franco-Nevada for Proceeds of $18 Million

TORONTO, ON – February 21, 2019 - Marathon Gold Corporation (“Marathon” or the“Company”) (TSX: MOZ) is excited to announce that it has closed the sale of a 2% net smelterreturns royalty (the “NSR”) to Franco-Nevada Corporation (“Franco-Nevada”) (TSX, NYSE:FNV) linked to production at the Valentine Lake Gold Camp in central Newfoundland, for grossproceeds of CAD $18,000,000. The NSR applies to the entire Valentine Lake property andcovers the sales of precious and base metals and minerals. Marathon has an option to buyback 0.5% of the NSR for US $7 million until December 31, 2022.“Franco-Nevada's purchase of the NSR is a major endorsement of the Valentine Lake project byone of the best-known and regarded public royalty companies," said Phillip Walford, Presidentand CEO of Marathon. “The proceeds from this strategic financing transaction will allowMarathon to fast-track the completion of the Prefeasibility Study in 2019."Use of Proceeds:• Marathon is carrying out an aggressive program of engineering, drilling andenvironmental programs for the remainder of 2019, targeting completion of the PFS bythe end of 2019. A key element of this program is an infill drilling program focused onupgrading Inferred resources in the Leprechaun and Marathon pits to the Measured andIndicated categories. In addition, an exploration drill program will test the Sprite Gap.Condemnation drilling is also planned for infrastructure locations, along withgeotechnical drilling.• Marathon’s ongoing metallurgical test work program being conducted by SGS, under theguidance of consulting metallurgist John Goode, is a key component of the PFS and asubsequent feasibility study. The results to date from the metallurgical test work, whichcommenced in September 2018 to optimize metallurgical recoveries for both the millingand heap leach circuits, have been very encouraging.• The Environmental Assessment program is the critical path item for the project and thefirst steps in that program have begun with the development of the Project Description.Another component of the project is community and stakeholder consultation, which willbegin as a formal process in March 2019. To facilitate this process, the companyrecently hired an experienced professional James Powell P. Eng. to work with Bob BorstC. Eng and Sherry Dunsworth P. Geo.

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Marathon’s Infill Drilling Continues Hitting New High-Grade Open-Pit Gold: 12.49 g/t Au over 13.0m, 4.19 g/t Au over 12.0m and 3.73 g/t Au over 15.0m, Valentine Lake Gold Camp, NL

Drilling Highlights:
• The ongoing open-pit infill drilling program at the Marathon Deposit is designed to penetrate down through the main mineralized corridor with the aim of continuing to increase confidence in the lateral continuity of high-grade gold mineralization between adjacent drill holes, and also moving inferred into measured and indicated resource categories. These latest drill holes into the core of the Marathon open-pit deposit were very successful; having intersected numerous new wide high-grade gold intervals to be incorporated into a future resource update (Figures 1 and 2):
o MA-19-357 intersected 12.49 g/t Au over 13.0 meters including 22.55 g/t Au over 7.0 meters, and 3.73 g/t Au over 15.0 meters including 6.28 g/t Au over 4.0 meters. o MA-19-359 intersected 4.19 g/t Au over 12.0 meters including 14.20 g/t Au over 3.0 meters and 4.78 g/t Au over 9.0 meters including 12.18 g/t Au over 3.0 meters.
o MA-19-360 intersected 1.43 g/t Au over 40.0 meters including 4.03 g/t Au over 2.0 meters and 3.27 g/t Au over 2.0 meters.
2019 Program Update:
• The February 21, 2019 announced sale of a 2% NSR to Franco Nevada not only raised $18 million in proceeds to carry put our aggressive engineering, drilling and environmental programs; but also provides a major endorsement of the Valentine Lake project by one of the best known and regarded public royalty companies.
• The ongoing 2019 Marathon Deposit infill drilling campaign continues to focus on increasing both measured and indicated as well as inferred resources at what is already the largest resource in the Valentine Lake Gold Camp. The results of this infill drilling continue to validate the mineralization boundary in the block model as well as the lateral continuity of the high-grade mineralized zones.
• Advanced metallurgical testing being done by SGS of material from both the Marathon and Leprechaun Deposits is continuing with focus on optimizing both mill and heap leach recoveries which we expect completion in Q2.
• A Project Description is being prepared for submission to the Federal and Provincial regulators, a key step in the overall regulatory approvals process which we expect completion in Q2.

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Leprechaun Main Zone Infill Drilling Hits New High-Grade Gold: 11.83 g/t Au over 22.0m, 9.02 g/t Au over 22.0m and 2.52 g/t Au over 71.0m, Valentine Gold Camp, NL

Drilling Highlights:
• New intersections of high-grade gold have been discovered during drilling down through the en-echelon stacked quartz-tourmaline-pyrite veining of the Main Zone corridor, Leprechaun Deposit (Figures 1 and 2). These new high-grade gold intercepts, with abundant visible gold (Figure 2), have resulted in widening of the Main Zone corridor to up to 75 meters, extending the high-grade gold mineralization to the bottom of the proposed open pit, and further confirming the along-strike continuity of the high-grade gold between adjacent drill holes in the central portion of the Leprechaun Deposit. • o VL-19-679 intersected 11.83 g/t Au over 22.0 meters including 38.03 g/t Au over 4.0 meters, 9.02 g/t Au over 22.0 meters including 21.04 g/t Au over 8.0 meters, 25.78 g/t Au over 6.0 meters including 147.55 g/t Au over 1.0 meter, and 3.23 g/t Au over 8.0 meters. o VL-19-680 intersected 2.52 g/t Au over 71.0 meters including 9.06 g/t Au over 4.0 meters and 36.89 g/t Au over 1.0 meters, 20.10 g/t Au over 3.0 meters and 4.85 g/t Au over 4.0 meters.

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Marathon Drilling Further Confirming Continuity of Main Zone Gold: 3.52 g/t Au over 45.0m, 2.61 g/t Au over 75.0m and 1.82 g/t Au over 50.0m, Valentine Gold Camp, NL

Drilling Highlights:
• The ongoing infill drilling program at the Marathon Deposit is designed to penetrate down through the main mineralized corridor as well as into the hanging wall and foot wall zones of the open pit (Figure 1). The aim of the infill drilling campaign is three-fold: to increase confidence in the lateral and vertical continuity of high-grade gold mineralization by drilling between adjacent drill holes; to penetrate gold intervals in the hanging wall and footwall regions where there is wide spaced drilling; and to convert inferred into measured and indicated resource categories.
o Main Zone: MA-19-372 intersected 3.52 g/t Au over 45.0 meters with 16.16 g/t Au over 2.0 meters and 14.25 g/t Au over 4.0 meters, as well as 3.35 g/t Au over 16.0 meters with 18.28 g/t Au over 2.0 meters. o Main Zone: MA-19-370 intersected 2.61 g/t Au over 75.0 meters with 7.71 g/t Au over 6.0 meters, 20.27 g/t Au over 2.0 meters and 28.44 g/t Au over 2.0 meters.

o Main Zone: MA-19-361 intersected 1.82 g/t Au over 50.0 meters with 5.35 over 6.0 meters and 6.13 g/t Au over 3.0 meters.
o Hanging Wall: MA-19-364 intersected 2.23 g/t Au over 6.0 meters and 5.65 g/t Au over 3.0, and MA-19-365 intersected 1.84 g/t over 4.0 meters.

o Footwall Zone: MA-19-362 intersected 2.23 g/t Au over 11.0 meters, and MA-19-369 intersected 1.93 g/t Au over 8.0 meters.

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Leprechaun Open-Pit Drilling in Core of the Main Zone Corridor Hits: 4.27 g/t Au over 126.0 m, 3.02 g/t Au over 153.0 m, 4.11 g/t Au over 42.0 m and 5.06 g/t Au over 30.0 m, Valentine Gold Camp, NL

Drilling Highlights:
 Recent drilling hits new high-grade gold mineralization with abundant visible gold in the Main Zone corridor of the Leprechaun Deposit, further defining a continuous corridor of high-grade gold ranging from 30 meters to more than 80 meters wide, extending from surface for 300 meters to the bottom of the open pit and beyond, and stretching along strike for more than 270 meters (refer to Figures 1, 2 and 3). This current program of drilling downward at high-angle to and through the shallow SW dipping en-echelon stacked QTP-Au veining demonstrates significant additional width and higher gold grades for the Main Zone of the Leprechaun Deposit. It also shows the continuous nature of the highgrade gold from surface to depths beyond the bottom of the open pit, particularly significant in areas of limited previous drilling along the southwestern portion of the Main Zone gold corridor.
o VL-19-681 intersected 4.27 g/t Au over 126.0 meters including 12.21 g/t Au over 19.0 meters, 13.80 g/t Au over 5.0 meters, 8.63 g/t Au over 6.0 meters, 8.40 g/t Au over 6.0 and 67.97 g/t Au over 1.0 meters, and 4.11 g/t Au over 42.0 meters including 8.08 g/t Au over 11.0 meters, and 2.45 g/t Au over 33.0 meters (refer to Figure 3). o VL-19-686 intersected 3.02 g/t Au over 153.0 meters including 12.47 g/t Au over 8.0 meters, 5.66 g/t Au over 9.0 meters, 11.30 g/t Au over 4.0 meters, and 47.70 g/t Au over 1.0 meter, and 2.21 g/t Au over 17.0 meters, and 1.93 g/t over 43.0 meters (refer to Figure 2) .

o VL-19-688 intersected 5.06 g/t Au over 30.0 meters including 14.12 g/t Au over 8.0 meters, 5.04 g/t Au over 24.0 meters including 10.40 g/t Au over 2.0 meters and 71.31 g/t Au over 1.0 meters, and 4.06 g/t Au over 10.0 meters including 12.80 g/t Au over 2.0 meters.

o VL-19-687, collared further towards the southwest end of the Main Zone corridor in an area of limited previous drilling, also intersected significant intervals of gold mineralization including 4.32 g/t Au over 12.0 meters, 3.45 g./t Au over 7.0 meters, and 3.53 g/t Au over 5.0 meters.
o Drill holes along the outer northwest side (hanging-wall side) of the Main Zone corridor hit significant gold mineralization while also defining the outer margin of the mineralized corridor; returning intervals of 5.18 g/t Au over 8.0 meters and 6.48 g/t Au over 3.0 meters in VL-19-685, 8.06 g/t Au over 3.0 meters in VL-19-684, and 2.54 g/t Au over 4.0 meters in VL-19-683.

o The high-grade gold core of the Main Zone corridor of the Leprechaun Deposit now extends continuously for more than 270 meters along strike, extends from surface to a depth of more than 300 meters, and has a true width that ranges from 30 meters to more than 80 meters. Additional planned drilling is expected to increase the strike length of the high-grade core of the Main Zone corridor. TORONTO

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