People & Purpose

About Marathon Gold

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. Once developed, the Valentine Gold Project will be the largest gold mine in Atlantic Canada.

Based on a Pre-Feasibility Study completed in April 2020, the Valentine Gold Project is expected to have a 12-year mine life based on conventional open pit mining and milling, a 36% after-tax rate of return based on an initial capital investment of C$272 million. First production is scheduled for 2023.

The Valentine Gold Project will have a significant impact on the economy of the Central Region, with over 400 jobs during construction and operation, and over C$100m of annual average purchasing of goods and services.

Marathon’s objective is the financing, development and successful operation of the Valentine Gold Project. We seek to accomplish this with zero harm to our people, protection of the environment, and respect for communities and Indigenous groups.

Readers are referred to the Technical Report dated April 21, 2020 for further details and assumptions relating to the Valentine Gold Project.