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1
October 2012
Rapidly Developing North American Gold Resources at Low Cost and Low Risk
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Forward Looking InformationCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATIONExcept for statements of historical fact relating to the Company, 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 Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com .
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, results or otherwise.
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Two robust gold projects
Advancing two high grade gold projects located in mining-friendly jurisdictions― Flagship Valentine Lake Project in central Newfoundland (100% owner and
operator)― Fully permitted Golden Chest Mine (50/50 JV with New Jersey Mining
Company) in Idaho’s prolific Coeur d’Alene Mining District
Continuing to grow resource
base
Significant exploration
upside
Proven Management
Team
Over 80 years of management experience in mining exploration, development and production
Same management and technical team behind Marathon PGM (sold to Stillwater for $123 million in Dec. 2010)
Recently announced open pit and underground resource estimate and a 61% increase in contained gold at the Valentine Lake Project― Measured and Indicated: 9.54 million tonnes @ 2.22 g/t Au containing 682,000
oz Inferred: 1.96 million tonnes @ 2.30 g/t Au containing 145,000 oz Updated resource estimate at Golden Chest Mine expected in Q4-2012
Mineralization covering only a fraction of Valentine’s total 30 km strike has been delineated― One drill rig is currently turning on the newly discovered J. Frank Zone
southwest extension― Leprechaun deposit remains open at depth and along strike
Company Highlights
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Capitalization
Capital Structure
Share Price (10-18-12) $0.75
Shares Outstanding 50,181,514
Warrants (average price $1.93) 3,650,650
Options (at $1.61) (at $0.65)
1,740,0001,690,000
Fully diluted 58,157,164
Market Cap ~C$38 million
Analysts• Fraser Mackenzie• Octagon Capital Corp.• Haywood Securities; Tear Sheet• Canaccord; Tear Sheet
Share Price
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Proven Management
Phillip Walford, P.Geo. | President , CEO & Director• 40 years in the mining industry, primarily in mining geology• Has held senior management roles at a number of companies
throughout the Americas, including Anaconda Gold, Geomaque Exploration, LAC Minerals, Pamour Porcupine Mines, and Hudson Bay Exploration and Development
Sherry Dunsworth, P.Geo. | VP of Exploration• 25+ years in the mining industry• Has held positions with Anaconda Gold and Marathon PGM• Former member of the Mineral Rights Adjudication Board of
Newfoundland and Labrador• Former Geoscience Councilor for the Association of
Professional Engineers and Geoscientists of Newfoundland and Labrador
Jim Kirke, CA | CFO• 15+ years involvement in the mining industry• Former CFO of BacTech Mining and Golden Odyssey Mining
Phillip Walford, P.Geo. | See Management
George Faught, CA | Non-Executive Chairman• 30+ years in the financial management and resources
industries• Former CFO of North American Palladium• Vice Chairman of Aberdeen International
Joe Spiteri, P.Geo. | Director• 30+ years in the mining industry• Former senior Manager and Officer with Placer Dome,
Northgate Explorations, Lac Minerals and Campbell Resources
• Current Director of AuRico Gold, Roxgold, and Stillwater Mining
Page Chilcott | Director• Former President of the Vancouver Stock Exchange
David Poynton | Director• 30+ years of legal and business experience• President and CEO of Daycon Minerals• Former Senior VP, General Counsel and Corporate Secretary for
Iberian Minerals and Cadillac Ventures
Management Board of Directors
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Deliverables and Objectives
Q4-2011 Acquired the Bonanza Mine, an historic high-grade producing mine in Oregon; 100% owned
Q1-2012Reported initial NI 43-101 compliant resource estimate at the Golden Chest MineUpdated NI 43-101 compliant resource estimate at the Valentine Lake Project, increasing contained M&I gold by 53%
Q2-2012 Acquired Mountain Lake Resources to become 100% owner and operator of the Valentine Lake Gold Project
Q3-2012 Completed 7,000 m drill program at Golden Chest Mine
Q4-2012Updated the NI 43-101 compliant resource at the Valentine Lake Project, incorporating 19,800 m of additional drilling and increasing contained M&I gold by an additional 61%
UpcomingUpdate NI 43-101 resource estimate at Golden Chest MineContinue to drill the newly discovered J. Frank Zone southwest extension
Accomplishments – Last 12 Months
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Marathon Gold takes a 3-Pronged approach to de-risking your investment
Current Resources (at 100%)Valentine Lake Project:
Open Pit Resource – M&I: 561,000 oz @ 2.14 g/t Au Inferred: 56,000 oz @ 1.93 g/t AuUnderground Resource – M&I: 121,000 oz @ 2.75 g/t Au Inferred: 89,000 oz @ 2.60 g/t Au
Golden Chest Mine: Initial Resource - M&I 121,100 oz Au @ 1.35 g/t Au, Inferred 179,000 oz Au @ 1.45 g/t Au
Marathon Gold
Focused on developing gold resources in
Canada and USA only- current resources are
expanding!
Projects have solid infrastructure and are
located in mining-friendly jurisdictions
Projects have +1 million oz Au at good
grades
Focused on Rapidly Developing North American Gold Resources
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Corporate Strategy Going Forward
“We Add Value by Adding Quality Ounces”
Marathon Gold’s 2012/2013
Strategy
GROWTH
- Progressing the Valentine Lake Project towards the million ounce mark- Longevity in a volatile market
UPDATING RESOURCES
- A new Open Pit and Underground Resource Estimate released October 22, 2012-7,000 m of drilling to be added to the Golden Chest Mine Resource
CONSERVING CAPITAL
- 1 drill rig turning- Prospecting, trenching and geological mapping
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Our Projects
Legend
Advanced Stage
1. Valentine Lake– Leprechaun Deposit
2. Golden Chest
Early Stage
1. Bonanza2. Baie Verte3. Finger Pond
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Deposit Tonnes Au Grade g/t
Gold (oz) Tonnes Au Grade
g/t Gold (oz)
Open Pit 8,160,000 2.14 561,000 897,000 1.93 56,000
Underground 1,371,000 2.80 121,000 1,062,000 2.60 89,000
Total 9.531.000 2.22 682,000 1,959,000 2.29 145,000
Inferred Resources
Deposit Tonnes Au Grade g/t
Gold (oz) Tonnes Au Grade
g/t Gold (oz)
Inferred Resources
Golden Chest Mine1 2,788,000 1.35 121,100 3,847,500 1.45 179,000
Global Resource 10,925,000 1.86 742,500 3,882,750 1.56 234,500
Summary of Global Resources
M and I Resources
M and I Resources
1 The Golden Chest Mine is a 50/50 joint venture with New Jersey Mining Company
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Valentine Lake Project, Newfoundland (100%)Leprechaun Gold Deposit: Updated NI 43-101 Resource Estimate
Total 58,500 m drilling (2010-2012), of which 19,800 m (2012) was added to the resource
Updated global NI 43-101 compliant resource estimate; M&I increase of 61%
New open pit and underground NI 43-101 resource estimate
2012/2013 drilling program will be focused on developing and upgrading resources underground, expanding the open pit resource along strike and defining new deposits along strike of the current resource to the northeast and the southwest
Coarse and free gold have excellent metallurgical recoveries with ~50% by gravity, total >90%
Open Pit @ 0.50 g Au/t cut-off
Underground@ 1.5 g Au/t cut-off Total
Category Tonnes(kt)
Grade(g/t)
Au(kOz)
Tonnes(kt)
Gold(g/t)
Gold(kOz)
Tonnes(kt)
Grade(g/t)
Au(kOz)
Measured 2,892,000 2.25 209,000 141,000 3.34 15,000 3,033,000 2.30 224,000
Indicated 5,274,000 2.07 352,000 1,219,000 2.69 106,000 6,645,000 2.20 458,000
Total M&I 8,166,000 2.14 561,000 1,371,000 2.75 121,000 9,385,000 2.22 682,000
Inferred 897 1.93 56 1,062 2.60 89 1,959 2.29 145
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Newfoundland, Valentine Lake Project 10+ Mile Long GOLD Corridor
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Newfoundland, Valentine Lake Project 100% Owned - Deposit Expansion
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Newfoundland, Valentine Lake Project 100% Owned : Leprechaun Gold Deposit
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Newfoundland, Valentine Lake Project 100% Owned : Leprechaun Gold Deposit
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Newfoundland, Valentine Lake Project 100% Owned : Leprechaun Gold Deposit
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J. Frank Zone: New High-Grade Gold Extension 400 m strike length
Discovered during summer 2012 prospecting and trenching program
Multiple high-grade gold-bearing quartz–tourmaline–pyrite veins over a 400 m strike length and extending up to 180 meters into the hanging wall
The Sprite, the Leprechaun Gold Deposit and the J. Frank Zone is now more than 3 km long
One drill rig is currently turning in the new extension in the southwest area
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J. Frank Zone: One drill rig turning
Channel sampling of Trench 8175 returned surface intervals of 4.73 g/t Au over 24.68 meters including 20.45 g/t Au over 3.11 meters and 11.22 g/t Au over 4.2 meters, and 2.51 g/t Au over 4.45 meters
Channel Sample Intervals - Trench 8175, SW J. Frank Zone
Trench # From (m) To (m) Length (m) Au gpt (uncut)
8175 1.9 26.58 24.68 4.73including 1.9 5.01 3.11 20.54including 21.41 25.61 4.2 11.22
29.66 34 4.34 0.95 47.36 57.74 10.38 0.19 135.76 140.21 4.45 2.51
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Valentine Lake Project: 3.5 km Strike Length with Coarse and Free Gold
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Newfoundland: Finger Pond
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Idaho - Golden Chest MineProlific Coeur d’Alene Mining District
Idaho Hill
View West
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Idaho, Golden Chest Mine: NI 43-101 Resource Estimate, Near Surface Open-Pit
Initial Resource Estimate based on 10,000 m of drilling in 2011
18,034 m drilled to date (2011-2012)
7,000 m of drilling to be added to the updated Resource Estimate
Past produced 8,500 t of ore with an average grade of 6.90 g/t and an average recovery of ~94%
Fully permitted surface and timber rights with an existing reserve and exploration potential
Katie - Dora
“H” Vein
Golden Chest Mine Open Pit
Resource Estimate
Total Cut-off 0.40g/t
Tonnes g/t Au Au oz
M+I 2,788,000 1.35 121,100
Inferred 3,847,500 1.45 179,000
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Idaho, Golden Chest MineOpen-Pit & Underground Potential
Open pit potential and significant opportunity for reserve growth with underground drilling
2011 Drilling – 102 DDH’s – 11,456 m
2012 Drilling – 50 DDH’s - total 6,578 m to date― Recent highlights: 9.7 g/t Au over 7.7 m,
including 30.3 g/t Au over 2.4 m; 4.4 g/t Au over 20.6 m, including 10.8 g/t Au over 7.0 m
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Oregon
Circa 1904
BONANZA MINE
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Oregon, Bonanza Mine (100%):Historical High-Grade Producer
100% Owned
Historical Producer• 128,500 tons grading 1.2 oz/ton and
99,900 oz Au was produced with an average recovery of 65%
• Historic mining cut off grade of 0.60 oz/ton (17 grams)
Three main veins are important for mining • South Vein • Bonanza Vein; can be followed on
surface from more than 2,500 ft• North Vein
The veins vary from a foot to 6 ft wide and locally can be up to 30 ft wide, dipping steeply to the southwest
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Bonanza Mine: Property Boundary
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Bonanza Mine: Property Boundary
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Reasons to Invest
LOCATION
Mining-friendly jurisdictions
Established infrastructure; road access, water, fully equipped on-site camp
Socio-economic and political stability; no native issues
MANAGEMENT
Over 80 years of proven management experience in mining exploration, development and production
RESOURCE DEVELOPMENT
Valentine Lake Project:New NI 43-101 compliant Open Pit and Underground Resource Estimate with M&I increase of 61%Updated resource estimate at Golden Chest upcoming
SIGNIFICANT EXPLORATION
POTENTIAL
Classic lode gold deposit at Valentine Lake has significant exploration potential
Mineralization covering only a fraction of Valentine’s total 30 km strike has been delineated
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www.marathon-gold.com416-987-0714
Phillip WalfordPresident and [email protected]
Jennie GuayInvestor Relations [email protected]