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Summer 2012
Rapidly Developing North American Gold Resources at Low Cost and Low Risk
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Forward Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except 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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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
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
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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Capitalization
Capital Structure
Share Price (08-01-12) $0.71
Shares Outstanding 50,181,514
Warrants (average price $1.93)
3,650,650
Options (at $1.61) (at $0.65)
1,740,000 1,690,000
Fully diluted 58,157,164
Market Cap ~C$36 million
Analysts • Fraser Mackenzie • Octagon Capital Corp.
Pri
ce (
CA
D)
Share Price
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Focused on North American Gold Resources
Marathon Gold takes a 3-Prong approach to de-risking your investment
Current Resources (at 100%) Valentine Lake Project: M&I 424,000 oz Au @ 2.05 g/t Au, Inferred 305,000 oz Au @ 1.65 g/t Au
Golden Chest Mine: M&I 147,000 oz Au @ 1.47 g/t Au, Inferred 233,300 oz Au @ 1.46 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 >1,000,000 oz Au potential of good grade potential
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Our Projects
Legend
Advanced Stage
1. Valentine Lake – Leprechaun Deposit
2. Golden Chest
Early Stage
1. Bonanza 2. Baie Verte 3. Finger Pond
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Deposit Tonnes
Au Grade g/t
Gold (oz)
Tonnes Au Grade g/t
Gold (oz)
100%-Owned Valentine Lake
Project1,2 Global Updated
Resource Estimate
6,450,000 2.05 424,000 5.740,000 1.65 305,000
Summary of Global Resources
Inferred Resources
1. Source: Technical Report on the Mineral Resource Estimate for the Leprechaun Gold deposit Valentine Lake Gold Project Central Newfoundland, Canada, dated March 29, 2012. 2. Assuming completion of the Mountain Lake Resources acquisition 3. The Golden Chest Mine is a 50/50 Joint Venture with New Jersey Mining Company, therefore Marathon Gold Reserves and Resource account for half
Deposit Tonnes
Au Grade g/t
Gold (oz)
Tonnes Au Grade g/t
Gold (oz)
Inferred Resources
Golden Chest Mine Global Initial
Resource Estimate 3
3,107,000 1.47 147,000 4,978,000 1.46 233,300
TOTAL M&I and TOTAL Inferred Valentine Lake
Project and Golden Chest Mine
9,557,000 1.86 571,000 10,718,000 1.56 538,300
M and I Resources
M and I 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 and Golden Chest Mine towards the million ounce mark
- Longevity in a volatile market
UPDATING RESOURCES
- 24,000 m of drilling to be added to the Valentine Lake Project Resource
-7,000 m of drilling to be added to the Golden Chest Mine Resource
CONSERVING CAPITAL
- 1 drill 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. Bonanza 2. Baie Verte 3. Finger Pond
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Valentine Lake Project, Newfoundland (100%)Leprechaun Gold Deposit: Updated NI 43-101 Resource Estimate
GLOBAL RESOURCE ESTIMATE
Total Resource Above 0.50 g/t
cut off1
Tonnes
Cut Au (g/t)
Au oz
Measured 1,378,000 1.90 84,000
Indicated 5,068,000 2.09 340,000
M+I 6,446,000 2.05
Inferred 5,742,000 1.65
Updated NI 43-101 compliant Resource Estimate; M&I
Increase of 54% Total 58,500m drilling (2010-2012), of which 24,000 (2012) drilling not in current Resource Leprechaun Gold Deposit has been extended along
strike and down-dip
Hanging-wall zones are open in all directions
Coarse and free gold have excellent metallurgical recoveries with ~50% by gravity, total >90%
424,000
305,000
3 Dimensional Model of the Leprechaun Gold Deposit, Main Zone Alteration and Surface Resource Boundary
Open to Depth
Elevation
- 400m
- 100m
- 200m
- 300m
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Selected 2012 Drill Results
• Marathon expects a steady stream of drill results from its 2012 drilling program • The deposit remains open down-dip and along strike to the northeast and southwest
* True Thickness
Zone
Hole ID From (m) To (m) Length*(m) Gold (g/t)
LGD VL-12-393 115 130 13.5 4.31
VL-12-395 252 261 7.7 11.28
VL-12-402 277 301 21.6 4.05
VL-12-403 210 232 20.9 7.23
VL-12-407 289 304 13.5 9.19
VL-12-408 153 172 18.1 13.81
VL-12-410 277 289 11.4 8.06
VL-12-437 228 240 10.2 6.10
VL-12-440 369 396 21.6 3.81
FZ VL-12-431 92 157 61.75 0.64
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Newfoundland, Valentine Lake Project
100% Owned: Flagship Project
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Newfoundland, Valentine Lake Project 100% Owned - Deposit Expansion
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Newfoundland, Valentine Lake Project
100% Owned : Leprechaun Deposit
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Newfoundland, Valentine Lake Project
100% Owned : Leprechaun Deposit
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Newfoundland, Valentine Lake Project
100% Owned : Frank Zone
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Leprechaun Gold Deposit: Coarse and Free Gold
Visible gold in outcrop – Leprechaun Deposit
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Idaho - Golden Chest Mine Prolific 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) 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
GLOBAL RESOURCE ESTIMATE Total Cut-off
0.40 g/t
Tonnes
g/t Au
Au oz
M+I 3,107,000 1.47
Inferred 4,978,000 1.46
IN OPEN PIT 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
147,000
233,300
Katie - Dora
“H” Vein
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Idaho, Golden Chest Mine Open-Pit & Underground Potential
Open pit potential and significant opportunity for reserve growth with underground drilling
2011 Drilling – 102 DDH’s – 11,456m 2012 Drilling – 50 DDH’s - total 6,578m to date
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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
Basalt
Volcanic
Volcaniclastic
Basalt
Slate
Slate
North Vein
Bonanza Vein
South Vein
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Bonanza Mine: Property Boundary
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Reasons to Invest
LOCATION
Mining-friendly jurisdictions: Newfoundland, Idaho and Oregon
Established infrastructure; road access, water, fully equipped on-site camp
Socio-economic and political stability
MANAGEMENT
Over 80 years of proven management experience in mining exploration, development and production
RESOURCE DEVELOPMENT
Valentine Lake Project:
- NI 43-101 compliant Updated Resource Estimate with M&I increase of 53%
-24,000 m of drilling to be added to the Resource
Golden Chest Mine:
-NI 43-101 compliant Initial Resource Estimate
-7,000 m of drilling to be added to the Resource
SIGNIFICANT EXPLORATION
POTENTIAL
Classic lode gold deposits at Valentine Lake and Golden Chest have 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.com 416-987-0714
Phillip Walford President and CEO [email protected]
Jennie Guay Investor Relations Manager [email protected]