Marathon Gold Announces Appointment of Cathy Bennett to Board of Directors

TORONTO, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce the appointment of Cathy Bennett to its Board of Directors, effective January 27, 2021.

Ms. Bennett is a successful business executive with over 35 years of experience across multiple sectors including mining, government, energy, manufacturing, and technology. Between 2014 and 2018, Ms. Bennett was a Member of the Newfoundland & Labrador House of Assembly, with service in government as Minister of Finance and President of Treasury Board, and Minister for the Status of Women.

Ms. Bennett currently serves on the boards of directors of the Business Development Bank of Canada, Kraken Robotics Inc. (TSX-V: PNG), Vigilant Management, a private infrastructure consulting company, and TaskForceNL, a not-for-profit social enterprise leading the sales and manufacturing efforts of Health Canada certified Personal Protective Equipment in Newfoundland and Labrador. Amongst many previous affiliations with businesses and service organisations within Newfoundland and Labrador and the broader Atlantic Canada region, Ms. Bennett has served on the boards of Nalcor Energy, New Millennium Iron Ore, Bell Aliant, the Institute of Corporate Directors (NL) and the Atlantic Provinces Economic Council.

George Faught, Chair of the Board stated, “We are very excited to welcome Cathy to our Board of Directors. Cathy’s strong ties to Newfoundland & Labrador as well as the breadth and depth of her business experience make her an ideal fit for the Company’s current stage of development. We believe Cathy will add considerable value and strength to our Board and we look forward to working with her to advance the Valentine Gold Project and build value for our shareholders.”

About Marathon

Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Project comprises a series of four mineralized deposits along a 20-kilometre system. An April 2020 Pre-Feasibility Study outlined an open pit mining and conventional milling operation over a twelve-year mine life with a 36% after-tax rate of return. The Project has estimated Proven Mineral Reserves of 1.3 Moz (26.3 Mt at 1.52 g/t) and Probable Mineral Reserves of 0.6 Moz (14.8 Mt at 1.23 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.9 Moz (31.7 Mt at 1.86 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.19 Moz (23.2 Mt at 1.60 g/t). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Please see the Technical Report dated April 21, 2020 for further details and assumptions relating to the Valentine Gold Project.