Marathon Completes Financing with Rambler and Announces Exploration Plans at Valentine Lake

Marathon Completes Financing with Rambler and Announces Exploration Plans at 
Valentine Lake 
TORONTO, Dec. 11, 2013 /CNW/ - Marathon Gold Corporation ("Marathon" or the 
"Company") (TSX: MOZ) announced the closing of its subscription agreement (the 
"Subscription Agreement"), previously announced on December 4, 2013, with 
Rambler Metals and Mining Canada Limited ("Rambler"), a 
wholly-owned subsidiary of Rambler Metals and Mining plc (TSXV: RAB, AIM: 
RMM) pursuant to which Rambler will subscribe for common shares of Marathon by 
way of a non-brokered private placement for guaranteed subscription proceeds 
of $500,000, with an option to invest an additional $1.5 million. 
The terms of the Subscription Agreement are set out below: 

    --  Rambler has purchased 1,176,470 common shares at a price of
        $0.2125 per share, for total proceeds of $250,000.  The share
        price for this subscription was based on a 10% premium to the
        60-day volume-weighted average price ("VWAP") of Marathon's
        shares prior to the signing of the Subscription Agreement.
    --  Rambler will subsequently subscribe for additional common
        shares with a value of $250,000.  The share price for this
        subscription, which will close no later than April 30, 2014,
        will be the greater of a 10% premium to the 60-day VWAP or a
        10% premium to the 5-day VWAP on the day prior to Rambler
        giving notice of its intention to subscribe these shares.
    --  Marathon has granted Rambler rights to purchase additional
        shares in four quarterly tranches of up to $375,000 per tranche
        commencing May 1, 2014 (the "Rights").  The pricing applicable
        to all investments pursuant to the Rights will be the greater
        of a 10% discount to the 60-day VWAP or a 10% discount to the
        5-day VWAP on the day prior to Rambler giving notice of its
        intention to subscribe these shares.  If Rambler does not
        exercise its purchase rights in any quarter, they may elect to
        carry such rights forward for an additional three months
        subject to Marathon's consent under the same pricing conditions
        as the quarterly terms.
    --  Marathon has granted Rambler the right to participate in future
        financings to maintain its proportionate interest in Marathon's
        shares, and Marathon and Rambler have agreed that any
        investments both pursuant to the Rights and subsequently to
        March 31, 2016 will be capped such that Rambler's interest
        remains below 20%, except by mutual agreement.

The proceeds of this and subsequent investments by Rambler will be focused on 
advancing Marathon's Valentine Lake Project. This initial investment will be 
used to drill test the trenching results from Marathon's third quarter 
exploration program at the Sprite and Victory Zones. The Victory trenches are 
approximately 400 meters along strike from the resource boundary of the 
Victory Gold Deposit, and the area between the trenches and the resource 
boundary will be test drilled as well.

AboutMarathon Gold Corporation

Marathon is a Toronto based gold resource development company focused on the 
Valentine Lake property in central Newfoundland. Marathon's mission is to 
rapidly advance the Valentine Lake Project. For more information

About theValentine Lake Project

The Valentine Lake property, owned 100% by Marathon Gold Corporation, hosts 
two well defined gold deposits with NI 43-101 compliant resources: the 
Leprechaun Gold Deposit and the Victory Gold Deposit. The Leprechaun Gold 
Deposit is located near the south-western end of theValentine Lake property, 
and the Victory Gold Deposit is located 13 kilometers along strike to the 
north-east. These gold deposits form part of a 23 km long, highly 
prospective gold-bearing mineralized corridor focused along the Valentine Lake 
Thrust Fault.

The Leprechaun Gold Deposit has a NI 43-101 compliant Open Pit and Underground 
Resource (refer to August 1, 2013 news release). The Open Pit Resource is 
Measured 3.5 million tonnes containing 247,000 oz Au, and Indicated6.2 
million tonnes containing 412,000 oz Au, and Inferred 1.2 million tonnes at 
1.82 g/t Au containing 71,000 oz Au. The Underground Resource is Measured 
108,000 tonnes containing 17,000 oz Au, and Indicated 764,000 tonnes 
containing 100,000 oz Au, and Inferred 349,000 tonnes containing 69,000 oz Au.

The Victory Gold Deposit (formerly Valentine East Hill) has an Open Pit 
Resource (refer to August 1, 2013 news release). The Open Pit Resource is 
Indicated761,000 tonnes containing 41,000 oz Au, and Inferred 199,000 tonnes 
containing 9,000 oz Au. Both deposits are open to expansion.


Except for statements of historical fact relating to Marathon Gold 
Corporation, 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 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.

SOURCE  Marathon Gold Corporation 
Phillip Walford President and CEO Tel: 1-416-987-0711 
Christopher Haldane Investor Relations Manager Tel: 1-416-987-0714   
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CO: Marathon Gold Corporation
ST: Ontario
-0- Dec/11/2013 20:17 GMT
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