TORONTO, Oct. 7 /CNW/ - Marathon PGM Corporation ("Marathon" or "the

Company", MAR-TSX) is pleased to announce results of recently completed work

and plans for exploration and development work of the Geordie Lake deposit,

located 14km northwest of the town of Marathon, Ontario.

Development and expansion of the Geordie Lake deposit has the potential

to extend the projected operational mine life of the Marathon Project well

beyond the current projected 10 years. The combined measured and indicated

resource for the Marathon and the Geordie Lake deposits currently exceeds 150

million tonnes.

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Highlights

- current Geordie Lake (measured and indicated) in-pit resource (M+I) -

25.98 million tonnes @ 0.34 % Cu, 0.55 g/t Pd, 0.034 g/t Pt,

0.06 g/t Au and 2.3 g/t Ag

- contained metals (measured and indicated) - 531,000 oz PGM+Au,

195.7 million lb Cu, 1.94 million oz Ag

- current resource estimate was based on lower metal prices (2002)

- planned exploration and development work to commence in early 2010

- additional zones discovered to the west and east of the Geordie Lake

deposit

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Phillip Walford, President and CEO of Marathon commented "We successfully

expanded the Marathon deposit from 27 million tonnes to over 120 million

tonnes in less than 5 years. As our growth continues, it's natural that we

start development plans to make Geordie Lake an additional source of ore. This

is an important step for us because it will expand the operational mining

life."

Geordie Lake: Generalized Geology and Mineralization

Multiple layers of PGM-Cu mineralization are hosted within the north

trending Geordie Lake gabbro. Mineralized layers range in thickness from 4 to

62 m, dip to the west at approximately 45 degrees and can be traced over a

strike length of 1,800 m. The deposit is open down dip to the west and along

strike to the north.

Work Completed in 2009

In 2009 Marathon geologists re-logged all Geordie Lake drill holes,

revised the geological cross sections and subsequently developed a refined

interpretation of the deposit. Compilation work outlined a near-surface,

higher grade zone of mineralization which is traceable over 1,200 m. Marathon

believes there is exceptional potential to rapidly expand this high-grade zone

with increased drilling density.

Beyond the drill defined limits of the Geordie Lake deposit, 2 other

areas of mineralization have been identified. At the northern end of the

deposit, an area of mineralization to the east could represent a parallel

layer of mineralization, as it is parallel to the Geordie Lake trend and

PGM-Cu mineralization was intersected in a single hole but never followed up.

Two kilometers north of the Geordie Lake deposit, samples gathered from

prospecting revealed anomalous PGM-Cu mineralization (up to 0.64%Cu and 0.15

g/t PGM+Au).

Discovery of these new zones provides potential for finding additional

resources. Historically, the main focus was the Geordie Lake deposit and

little effort was given to explore outside the known Geordie Lake deposit.

To view a cross section of the Geordie Lake deposit, please click on

http://www.marathonpgm.com/newsmaps/2009-24.jpg

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Selected Historical Drilling Results: Geordie Lake Deposit

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Total

True PGM and

From To Width Pd Pt Au Au Ag Cu

Hole (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t) (%)

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G-00-08 158.01 169.20 11.19 1.02 0.05 0.07 1.13 3.68 0.59

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G-01-01 178.35 199.70 21.35 1.03 0.07 0.08 1.17 2.95 0.50

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G-01-03 117.38 132.62 15.24 0.77 0.04 0.06 0.88 4.17 0.68

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G-01-07 126.52 137.55 11.03 1.13 0.06 0.09 1.28 6.50 0.93

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G-01-10 38.41 47.56 9.15 1.26 0.09 0.08 1.43 7.14 0.76

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G-01-12 228.66 252.52 23.86 0.94 0.04 0.06 1.04 4.31 0.75

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G-01-13 217.62 266.01 48.39 0.89 0.07 0.13 1.09 2.79 0.53

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G-02-03 189.11 201.77 12.66 1.20 0.10 0.09 1.39 4.46 0.80

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G-02-04 194.81 213.08 18.27 1.03 0.07 0.07 1.16 3.92 0.54

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Planned Work for 2010

Marathon believes there is good potential to expand the resource through

a planned program of prospecting, channel sampling and strategically planned

infill and step-out drilling. Exploration plans for 2010 will focus on

drilling down-dip and along-strike in order to expand the current resource.

The mineral resources in this press release were estimated using the

Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on

Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM

Standing Committee on Reserve Definitions and adopted by CIM Council December

11, 2005.

David Good, 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 PGM Corporation is presently optimizing an earlier definitive

feasibility study on the Marathon PGM-Cu deposit, which is expected to be

completed in Q4. Marathon is also 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 updated in-pit M&I

resource contains 2.58 million ounces of Pd, 769,000 ounces of Pt, 280,000

ounces of Au, 625 million lbs of Cu and 5.5 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, 2008.

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.

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/For further information: David Leng, P.Geo., Tel: (905) 537-5377, Fax:

(416) 861-1925,