Marathon Gold Corp T.MOZ

Marathon Gold Announces Appointment of James Gowans to Board

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Marathon Gold Announces Appointment of James Gowans to Board of Directors

TORONTO, May 14, 2020 (GLOBE NEWSWIRE) -- Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce the appointment of James (Jim) Gowans to its Board of Directors, effective June 1, 2020.

Mr. Gowans has over 30 years of experience in mineral exploration, technical and economic project studies, and mine construction, commissioning and operations.

Mr. Gowans has been Interim President and Chief Executive Officer of Trilogy Metals Inc. since September 2019 and will remain in that role until May 31, 2020, after which he will continue to serve as a director of the company.

Previously, Mr. Gowans was President and Chief Executive Officer of Arizona Mining Inc. from 2016 to 2018 when the company was purchased by South32 Limited. Prior to that, he was with Barrick Gold Corporation as Senior Advisor to the Chairman from August to December 2015, Co-President from July 2014 to August 2015, and Executive Vice President and Chief Operating Officer from January to July 2014. From 2011 to 2014, Mr. Gowans was the Managing Director of Debswana Diamond Company (Pty) Ltd., and prior to that he held executive positions at various companies including De Beers SA, De Beers Canada Inc., PT Inco Indonesia and Placer Dome Inc.

George Faught, Chair of the Board stated, “We are very excited to welcome Jim to our Board of Directors. The breadth and depth of his construction, operational and leadership experience in the mining sector are an ideal fit for Marathon’s current stage of development. We look forward to working with Jim to advance the Valentine Gold Project and build value for our shareholders.”

In addition to Trilogy Metals Inc., Mr. Gowans serves on the boards of directors of Cameco Corp., New Gold Inc. and Titan Mining.

About Marathon

Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in central Newfoundland, 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) and Total Measured Mineral Resources (inclusive of the Mineral Reserves) of 1.9 Moz (31.7 Mt at 1.86 g/t) and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.19 Moz (23.2 M t 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.

For more information, please contact:

Matt Manson President & CEO Tel: [phone] [e-mail]

Hannes Portmann CFO & Business Development Tel: [phone] [e-mail]

Amanda Mallough Senior Associate, Investor Relations Tel: [phone] [e-mail]

To find out more information on Marathon and the Valentine Gold Project, please visit www.marathon-gold.com.

A copy of the short form preliminary prospectus is available online on SEDAR at www.sedar.com.

Cautionary Statement Regarding Forward-Looking Information