Platinum Exploration (PGM)

[kraftdinner]

Marathon increases Marathon property to 3,286 hectares


2005-04-22 07:41 MT - News Release

Mr. Phillip Walford reports

MARATHON PGM CORPORATION ADDS TO LAND HOLDINGS

Marathon PGM Corp. has added 1,056 hectares to its current 2,230 hectares on the company's 100-per-cent-owned Marathon PGM-Cu property located near Marathon, Ont. The property consisted of two Crown leases and six additional unpatented mining claim blocks. The company purchased seven additional unpatented mining claim blocks from two prospectors residing in the town of Marathon.

The claims were purchased for $60,000 plus a 2-per-cent defined net smelter return to the vendors for ore or minerals extracted from these claims. The net smelter royalty can be reduced to 1 per cent by making a payment of $1-million. These claims form a contiguous strip approximately six kilometres long and 1.5 kilometres wide connecting to the southeast end of the company's current land position. They add approximately five kilometres of addition land along the favourable contact of the intrusive gabbros of the Coldwell complex with the older volcanic rocks. This brings the total length of the contact on company property to eight kilometres. One copper occurrence is known on the new claims. In addition, the claims provide additional land for infrastructure, place the access road on company land and bring the claims down to Highway 17.

The new claim blocks bring the total land position to 3,286 hectares