05 14-maypresentation final
TRANSCRIPT
May 2012
Rapidly Developing North American Gold Resources at Low Cost and Low Risk
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Forward Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except for statements of historical fact relating to the Company, 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 Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com . 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, results or otherwise.
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Investment Highlights
Three robust gold projects
Valentine Lake Project in central Newfoundland (50/50 JV with Mountain Lake Resources)
Fully permitted Golden Chest Mine in Idaho’s prolific Coeur d’Alene Mining District (50/50 JV with New Jersey Mining Company) - Can earn 60% by putting $3.5 M in the ground
Bonanza Mine in Oregon’s prolific Greenhorn Gold District (100% owned)
Near-term resource growth
potential
Blue Sky
Several near-term catalysts
Initial Resource Estimate at Golden Chest Mine Updated Resource Estimate at Valentine Lake Project Potential to advance Golden Chest Mine to development as early as 2013 given
underground infrastructure and permits in place
Aggressive drilling programs - 40,000 m 2012 drill program at Valentine Lake Project - 25,000 m 2012 drill program at Golden Chest Mine NI 43-101 compliant resource estimates at the Valentine Lake Project and the Golden
Chest Mine
Several large properties with large geological systems Five gold prospects identified along 17 km of strike at Valentine Lake Project
- Leprechaun Gold Deposit Resource contained within 750 m strike Significant exploration potential at both Valentine Lake Project and Golden Chest Mine
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Proven Management
Phillip Walford, P.Geo. | President , CEO & Director • 40 years in the mining industry, primarily in mining geology • Has held senior management roles at a number of companies
throughout the Americas, including Anaconda Gold, Geomaque Exploration, LAC Minerals, Pamour Porcupine Mines, and Hudson Bay Exploration and Development
Sherry Dunsworth, P.Geo. | VP of Exploration • 25+ years in the mining industry • Has held positions with Anaconda Gold and Marathon PGM • Former member of the Mineral Rights Adjudication Board of
Newfoundland and Labrador • Former Geoscience Councilor for the Association of
Professional Engineers and Geoscientists of Newfoundland and Labrador
Jim Kirke, CA | CFO • 15+ years involvement in the mining industry • Former CFO of BacTech Mining and Golden Odyssey Mining
Phillip Walford, P.Geo. | See Management
George Faught, CA | Non-Executive Chairman • 30+ years in the financial management and resources
industries • Former CFO of North American Palladium
Joe Spiteri, P.Geo. | Director • 30+ years in the mining industry • Former senior Manager and Officer with Placer Dome,
Northgate Explorations, Lac Minerals and Campbell Resources
Page Chilcott | Director • Former President of the Vancouver Stock Exchange
David Poynton | Director • 30+ years of legal and business experience • Former Senior VP, General Counsel and Corporate Secretary for
Iberian Minerals and Cadillac Ventures
Management Board of Directors
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Capital Structure
Share Price Performance
Share Price (05-01-12) $0.94
Shares Outstanding 29,871,928
Warrants ($1.80) 2,140,995
Options (at $1.61) 2,689,000
Fully diluted 34,701,923
Market Cap ~C$28 million
Investors Stillwater (15%) Sprott
Sentry Select
Capitalization
Analysts • Fraser Mackenzie • Octagon Capital Corp.
Pri
ce (
CA
D)
Month
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Focused on North American Gold Resources
Marathon Gold takes a 3-Prong approach to de-risking your investment
Marathon Gold currently has 554,650 oz of Resource and growing!
Current Resource Development (100%)
Valentine Lake Project: M&I 424,000 oz Au @ 2.05 g/t Au, Inferred 305,000 oz Au @ 1.65 g/t Au
Golden Chest Mine: M&I 147,000 oz Au @ 1.47 g/t Au, Inferred 233,300 oz Au @ 1.46 g/t Au
Marathon Gold
Focused on developing gold Resources in
Canada and USA only- current Resources are
expanding!
Projects have solid infrastructure and are
located in mining-friendly jurisdictions
Projects have >1,000,000 oz Au potential of good grade potential
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Deposit Tonnes
Au Grade g/t
Gold (oz)
Tonnes Au Grade g/t
Gold (oz)
Valentine Lake Project1
Global Updated Resource Estimate
6,450,000 2.05 424,000 5.740,000 1.65 305,000
Summary of Global Resources
Inferred Resources
1. Source: Technical Report on the Mineral Resource Estimate for the Leprechaun Gold deposit Valentine Lake Gold Project Central Newfoundland, Canada, dated March 29, 2012 2. The Golden Chest Mine is a 50/50 Joint Venture with New Jersey Mining Company, therefore Marathon Gold Reserves and Resource account for half
Deposit Tonnes
Au Grade g/t
Gold (oz)
Tonnes Au Grade g/t
Gold (oz)
Reserves & M and I Inferred Resources
Golden Chest Mine Global Initial
Resource Estimate 2
3,107,000 1.47 147,000 4,978,000 1.46 233,300
TOTAL M&I and TOTAL Inferred
Valentine Lake Project and Golden
Chest Mine
9,557,000 1.86 571,000 10,718,000 1.56 538,300
Reserves & M and I
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Our Projects
Legend
Advanced Stage
1. Valentine Lake – Leprechaun Deposit
2. Golden Chest
Early Stage
1. Bonanza 2. Baie Verte 3. Finger Pond
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Newfoundland
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Valentine Lake Project: Flagship Project
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Leprechaun Gold Deposit: Updated NI 43-101 Resource Estimate
Updated NI 43-101 compliant Resource Estimate; M&I Increase of 54%
Aggressive 40,000 m drill program
underway The most explored deposit among the five
known gold occurrences Leprechaun Gold Deposit has been
extended along strike and down-dip
Hanging-wall zones are open in all directions
Coarse and free gold have excellent metallurgical recoveries with ~50% by gravity, total >90%
GLOBAL RESOURCE ESTIMATE
Total Resource Above 0.50 g/t cut
off1
Tonnes
Cut Au (g/t)
Au oz
Measured 1,378,000 1.90 84,000
Indicated 5,068,000 2.09 340,000
M+I 6,446,000 2.05 424,000
Inferred 5,742,000 1.65 305,000
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Valentine Lake Project Resource Growth
050,000
100,000150,000200,000250,000300,000350,000400,000450,000
2011Measured
andIndicated
2012Measured
andIndicated
2011Inferred
2012Inferred
Valentine Lake Project Resource Growth
2011 Measuredand Indicated
2012 Measuredand Indicated
2011 Inferred
2012 Inferred
424,000 oz Au
305,000 oz Au
Measured and Indicated has increased by 53% since 2011 – based on 25,000 m of drilling and growing!
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Leprechaun Gold Deposit: Resource Boundary Expansion
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Leprechaun Gold Deposit: Ideal for Open Pit
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Leprechaun Gold Deposit: Ideal for Open Pit
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Leprechaun Gold Deposit: Ideal for Open Pit
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High grade grab samples consisting of quartz-tourmaline-pyrite with coarse visible gold returned assays of up to 581.88 g/t Au, 287.95 g/t Au, 152.75 g/t Au and 88.60 g/t Au
The newly exposed quartz-tourmaline-pyrite-gold stacked veins occur 100 m into the hanging-wall Ongoing prospecting and stripping continues to exposes additional quartz veining along strike and
into the hanging wall Channel sampling continues, with assays pending
Leprechaun Gold Deposit, New Discovery: J. Frank Zone
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Leprechaun Gold Deposit, New Discovery: J. Frank Zone Extends deposit in excess of 850 m in length and 250 m in width, and is located up to 1.5 km southwest along strike from the current resource boundary of the Leprechaun Gold deposit
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Selected 2012 Drill Results
• Marathon expects a steady stream of drill results from its 40,000 m drill program • The deposit remains open down-dip and along strike to the northeast and southwest
Hole ID From To Length Gold
VL-12-393 115 130 13.5 4.31
including 120 122 1.8 25.42
and 135 139 3.6 8.85
including 136 137 0.9 32.31
VL-12-395 252 261 7.7 11.28
including 252 254 1.7 41.8
VL-12-403 210 232 20.9 7.23
including 228 230 1.9 48.99
VL-12-402 277 301 21.6 4.05
including 297 299 1.8 24.55
VL-12-407 289 304 13.5 9.19
including 291 293 1.8 34.92
VL-12-408 153 172 18.1 13.81
including 164 166 1.9 109.941. True Thickness
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Idaho Golden Chest Mine
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Golden Chest Mine: Historical Producer with Initial NI 43-101 Compliant Resource
Initial Resource Estimate based on 10,000 m of
drilling in 2011 - M&I 147,000 oz Au - Inferred 233,000 oz Au Aggressive 20,000 m drill program underway Past producing mine located within Idaho’s
prolific Coeur d’Alene Mining District -Road accessibility Recent localized mining by JV partner New
Jersey Mining Company, produced 8,500 t of ore with an average grade of 6.90 g/t and an average recovery of ~94%
Can earn 60% by putting $3.5 M in the ground
Fully permitted surface and timber rights with
an existing reserve and exploration potential
GLOBAL RESOURCE ESTIMATE
Total Cut-off 0.40 g/t
Tonnes
g/t Au
Au oz
M+I 3,107,000 1.47 147,000
Inferred 4,978,000 1.46 233,300
IN OPEN PIT Total Cut-off
0.40g/t
Tonnes g/t Au Au oz
M+I 2,788,000 1.35 121,100
Inferred 3,847,500 1.45 179,000
GC-12-106 – 3.9 m @ 8.22 g/t Au GC-12-107 – 5.2m @ 12.39 g/t Au GC-12-117 – 5.1 m @ 3.56 g/t Au
Selected 2012 Drill Results1
1. True Thickness
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Golden Chest Mine: Near Surface Open-Pit
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Oregon
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Bonanza Mine: Historical High-Grade Producer
100% Owned Historical Producer
• 128,500 tons grading 1.2 oz/ton and 99,900 oz Au was produced
with an average recovery of 65% • Historic mining cut off grade of 0.60
oz/ton (17 grams)
Three main veins are important for mining • South Vein • Bonanza Vein; can be followed on
surface from more than 2,500 ft • North Vein
The veins vary from a foot to 6 ft wide and locally can be up to 30 ft wide, dipping steeply to the southwest
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Bonanza Mine: Property boundary
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Reasons to Invest: Delivering on Milestones
2010 2011 2012 2013
Stillwater Resources purchases Marathon PGM for $110 Million
Gold assets of Marathon PGM are spun out; Marathon Gold is formed
Golden Chest Mine is acquired
Initial Resource Estimate is released on Valentine Lake Project
25,000 m drill program commences at Valentine Lake
10,000 m drill program commences at Golden Chest Mine
Bonanza Mine is acquired
40,000 m drill program commences at Valentine Lake Project
20,000 m drill program commences at Golden Chest Mine
Initial NI 43-101 Resource Estimate released on the Golden Chest Mine
Updated NI 43-101 Resource Estimate released on Valentine Lake Project; M&I increase of 53%
PEA anticipated for Valentine Lake Project
2009
Valentine Lake Project acquired by Marathon PGM
Updated Resource Estimate at Valentine Lake Project expected Q1 2013
Updated Resource Estimate at Golden Chest Mine expected Q1 2013
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Reasons to Invest
LOCATION
Mining-friendly jurisdictions: Newfoundland, Idaho and Oregon
Strong infrastructure; road access, water, fully equipped on sight camp
Socio-economic and political stability
MANAGEMENT
Over 80 years of proven management experience in mining exploration, development and production
RESOURCE DEVELOPMENT
Valentine Lake Project:
- NI 43-101 compliant Updated Resource Estimate with M&I increase of 53%
-40,000 m drill program underway
Golden Chest Mine:
-NI 43-101 compliant Initial Resource Estimate
-20,000 m drill program underway
Doubling drill programs in 2012
SIGNIFICANT EXPLORATION
POTENTIAL
Orgogenic gold deposits at Valentine Lake and Golden Chest have significant exploration potential
Mineralization covering only a fraction of Valentine’s total 30 km strike has been delineated
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www.marathon-gold.com 416-987-0714
Phillip Walford President and CEO [email protected]
Jennie Guay Investor Relations Manager [email protected]