Latest drill resultsMarathon Gold Reports Latest Drill Results from the Berry Zone, Valentine Gold Project Results include 2.61 g/t Au over 85m, 1.57 g/t Au over 21m, 1.32 g/t Au over 20m, 3.44 g/t Au over 10m and 2.80 g/t Au over 12 m TORONTO, ON – October 21, 2020 - Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to report drill results from recent exploration drilling at the Valentine Gold Project, central Newfoundland (the “Project”). These latest results represent fire assay data from fourteen drill holes completed as part of the in-fill drill program at the Berry Zone within the 6km long Sprite Corridor. Highlights include: • VL-20-873 intersected 2.61 g/t Au over 85 metres, including 21.68 g/t Au over 2 metres and 13.87 g/t Au over 2 metres, and 1.32 g/t Au over 20 metres; • VL-20-875 intersected 3.44 g/t Au over 10 metres, including 20.80 g/t Au over 1 metre, and 1.57 g/t Au over 21 metres including 13.33 g/t Au over 1 metre; and • VL-20-870 intersected 2.80 g/t Au over 12 metres, including 12.64 g/t Au over 1 metre. All quoted intersections comprise uncut gold assays in core lengths. All significant assay intervals are reported in Table 1. Matt Manson, President & CEO commented: “These most recent assay results from the Valentine Gold Project represent the first holes drilled as part of our in-fill drill program at the new Berry Zone (Figure 1). This program is designed to provide drill coverage at an average 25 metre spacing with a view to an initial mineral resource estimate at Berry by the first quarter of next year. These fourteen holes are located along the western boundary of the in-fill area and within welldeveloped mineralization in the central portion of the zone (Figure 2). The drilling completed to date at Berry appears to show a characteristic “Main Zone” type sequence of mineralization extending from section 13350E through a particularly intense zone of mineralization between sections 13600E and 13800E and continuing northeast to at least section 14050E, where it remains open. Intermittent hanging wall mineralization has been intersected to the northwest of this Main Zone sequence. These relationships are reminiscent of the nearby Leprechaun Deposit. We currently have four exploration rigs active at Valentine. In addition to continued in-fill drilling at Berry, step out drilling is being conducted along the Sprite Corridor from Berry northeastwards to the Frozen Ear Pond (“FEP”) Road junction, from the margin of the Marathon Deposit southwestwards to the FEP, and scout drilling is being conducted in the “Narrows” area northeast of Marathon. Results from this drilling will be released in the coming weeks grouped by area of activity.” Gold mineralization at the Valentine Gold Project is contained predominantly within shallowly southwest dipping, en-echelon stacked Quartz-Tourmaline-Pyrite-Gold (“QTP-Au”) veins. At the Leprechaun and Marathon Deposits, as well as at the new Berry Zone, these QTP-Au veins form densely stacked and northwest plunging “Main Zone” envelopes within intrusive host rocks on the hanging wall (northwest) side of the Valentine Lake Shear Zone. The extent of mineralization appears related to the size and frequency of sheared mafic dykes which extend northeastsouthwest within the hanging wall, parallel to the shear zone. Exploration drilling is generally undertaken in two orientations: down steeply towards the northwest at a high angle to the individual veins and down-plunge of the Main Zone stacking, or obliquely towards the southeast sub-parallel to the individual veins and across the strike of Main Zone mineralization.