Marathon Gold showcases Valentine exploration potential at 2023 PDAC

Marathon Gold will be showcasing the exploration potential of the Company’s 100% owned Valentine Gold Project at the 2023 Prospector’s and Developer’s Association of Canada convention in Toronto between March 5-8. Marathon’s Newfoundland & Labrador based exploration team, led by Dave Ross, VP Geology and Exploration, will be available at booth # 2241. Matt Manson, President & CEO, will be presenting on Tuesday March 7 at 9:10am at the Atlantic Edge symposium and on Tuesday March 7 at 2:14pm in the Investors Exchange. The Valentine Gold Project is under construction, and when complete will be the largest gold mine in Atlantic Canada. An Updated Feasibility Study released in December, 2022 described a 3 pit-mine plan delivering 195,000 oz Au per annum at an AISC of US$1,007 per oz for the first 12 years of a 14.3 year mine life. Proven and Probable Mineral Reserves are 2.7 Moz Au, with first gold scheduled for the first quarter of 2025. Marathon’s exploration priorities for the Project during construction are: delivering more ounces of mineable gold mineralization within the scope of the existing 3-pit mine plan, and making new discoveries leading to new Mineral Resources elsewhere on the Valentine property outside the scope of the current mine plan. 2022 diamond drilling at the Berry Deposit, and a 70,000 metre Reverse Circulation drill program at the Leprechaun and Marathon Deposits during 2023 and 2024, will support the former objective. At PDAC, Marathon will be showcasing opportunities for new Mineral Resources and discovery. These include: Latest exploration results at Eastern Arm and Western Peninsula prospecting areas, showing gold geochemical anomalies including significant counts of gold grains in till samples following the 2022 discovery of QTP mineralization in bedrock and float; Latest drill results at Victory Deposit, including 3.50 g/t Au over 9.6m, 2.11 g/t Au over 15m, and 0.93 g/t Au over 13m; and A fresh look at the Frank Zone: discovered in 2011, but with the same geological characteristics as the nearby Berry and Leprechaun Deposits. Historical drill results include 12.52 g/t Au over 2.9m, 10.87 g/t Au over 3m, and 2.03 g/t Au over 16m.