Valentine Lake JV Continues to Drill Multiple New High Grade Intercepts at the Leprechaun Gold Deposit

TORONTO, Feb. 18 /CNW/ --
TORONTO, Feb. 18 /CNW/ - Marathon Gold Corporation (TSX:MOZ) ('MGC') and
Mountain Lake Resources Inc. (TSX-V: MOA) ('Mountain Lake') are pleased
to announce significant new assay results from recent drilling of drill
holes VL-11-237 to VL-11-243 at the Leprechaun Gold Deposit (Figure -
LP). All drill intersections in this release are uncut.

Drilling in the main zone of the deposit has returned wide intervals
grading up to 1.31 g/t Au over 20m (TT) in VL-11-241 as well as
significant high grade intervals grading up to 12.73 g/t Au over 4m
including 50.09 g/t Au over 1m in VL-11-242 (Photo), 7.57 g/t Au over
9m including 15.26 g/t Au over 4m in VL-11-243, 6.45 g/t Au over 3m
including 14.92 g/t Au over 1m in VL-11-239, and 4.77 g/t Au over 3m
including 14.2 g/t Au over 1m in VL-11-240.

Additional high grade mineralization was also discovered extending from
the main zone into the foot wall zone of the Leprechaun Gold Deposit
with VL-11-238 returning 5.15 g/t Au over 6m including 29.31 g/t over
1m.

The drilling to date has focused in the NE portion of the Leprechaun
Gold Deposit. These latest positive drill results are very important
for the in-fill drilling of the deposit as well as the modeling of
mineralized tension gashes extending laterally into the footwall zone
as well as wide low-grade intercepts in the hanging wall zone of the
deposit.

The initial results of drilling at Valentine East are encouraging with
three drill holes (i.e.: VL-11-001 to VE-11-003), (Figure - VE)
intersecting wide (up to 70m) zones of pervasive alteration with
quartz-tourmaline-pyrite veining and assays from VE-11-001 grading up
to 1.21 g/t over 4m. The first holes of this program form a fence of
holes intended to provide the geological information in a zone where
historical drilling is scant. The results to date confirm that there is
wide spread quartz, pyrite, tourmaline veins with gold in the first
hole and visual zones of the same type of veining in the second hole
that is now completed and in the third hole underway. This is very
encouraging although much work remains.

Highlights:

    --  High grade mineralized upper main zone intercept grading 12.73
        g/t Au over 4m including 50.09 g/t Au over 1m in VL-11-242
        (Photo).
    --  High grade mineralized main zone intercept grading 7.57 g/t Au
        over 9m including 15.26 g/t Au over 4m in VL-11-243 which
        extends a previously identified lens 15 metres further north
    --  High grade mineralized main zone intercept grading 6.45 g/t Au
        over 3m including 14.92 g/t Au over 1m in VL-11-239 near
        surface
    --  High grade mineralized main zone intercept grading 4.77 g/t Au
        over 3m including 14.2 g/t Au over 1m in VL-11-240
    --  Wide main zone intercept in VL-11-241 grading 1.31 g/t Au over
        20m (TT) extends a wide area of the main zone further to the
        north
    --  High grade mineralization extending from the main zone into the
        footwall sediments grading 5.15 g/t Au over 6m including 29.31
        g/t over 1m in VL-11-238
    --  The continued infill and step out drilling at the Leprechaun
        Gold Deposit is expected to increase the Measured and Indicated
        Resource
    --  Drilling will continue in the NE part of the Leprechaun Deposit
        until site conditions allow for step out drilling further to
        the NE into the Sprite zone as well as westward into the
        hanging wall of the main deposit.

Phillip Walford, President and CEO of MGC stated 'The program is going
very well thanks to the super effort the crew is giving to overcome the
difficult winter conditions. The winter program will set some of the
priorities for drilling during the summer. We are testing Valentine
East and will be testing the Sprite prospect north of Leprechaun to
determine if we can develop resources on them during the summer
drilling program.'

TABLE 1: New Gold Results for the Leprechaun Gold Deposit and Valentine
East Prospect

 _______________________________________________________
|         |       |    |    |   |Core |True |           |
|         |       |    |From|To |Width|Width|Gold       |
|DDH      |Section|Zone|(m) |(m)|(m)  |(m)* |Uncut (g/t)|
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-237| 10388 | MZ | 13 |16 |   3 |   3 |     1.19  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-237| 10388 | MZ | 23 |26 |   3 |   3 |     1.19  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-238| 10363 | FW | 75 |81 |   6 |   5 |     5.15  |
|_________|_______|____|____|___|_____|_____|___________|
|including| 10363 | FW | 80 |81 |   1 |   1 |    29.31  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-239| 10363 | MZ |  3 | 6 |   3 |   3 |     1.12  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-239| 10363 | MZ | 14 |17 |   3 |   3 |     0.84  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-239| 10363 | MZ | 23 |26 |   3 |   3 |     6.45  |
|_________|_______|____|____|___|_____|_____|___________|
|including| 10363 | MZ | 23 |24 |   1 |   1 |    14.92  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-240| 10413 | MZ | 27 |31 |   4 |   3 |     2.28  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-240| 10413 | MZ | 52 |55 |   3 |   3 |     4.77  |
|_________|_______|____|____|___|_____|_____|___________|
|including| 10413 | MZ | 54 |55 |   1 |   1 |    14.20  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-241| 10463 | FW | 19 |22 |   3 |   3 |     1.35  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-241| 10463 | MZ | 71 |97 |  26 |  20 |     1.31  |
|_________|_______|____|____|___|_____|_____|___________|
|including| 10463 | MZ | 88 |97 |   9 |   7 |     2.53  |
|_________|_______|____|____|___|_____|_____|___________|
|including| 10463 | MZ | 88 |92 |   4 |   3 |     4.89  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-242| 10475 | MZ | 36 |40 |   4 |   3 |    12.73  |
|_________|_______|____|____|___|_____|_____|___________|
|including| 10475 | MZ | 36 |37 |   1 |   1 |    50.09  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-242| 10475 | FW | 89 |93 |   4 |   3 |     1.19  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-243| 10488 | HW | 23 |33 |  10 |   8 |     0.42  |
|_________|_______|____|____|___|_____|_____|___________|
|VL-11-243| 10488 | MZ | 59 |68 |   9 |   8 |     7.57  |
|_________|_______|____|____|___|_____|_____|___________|
|including| 10488 | MZ | 64 |68 |   4 |   3 |    15.26  |
|_________|_______|____|____|___|_____|_____|___________|
|VE-11-001|  7150 |    | 84 |88 |   4 |   4 |     1.07  |
|_________|_______|____|____|___|_____|_____|___________|
|VE-11-001|  7150 |    |206 |210|   4 |   4 |     1.21  |
|_________|_______|____|____|___|_____|_____|___________|

* Estimated true thicknesses, HW = hanging wall, MZ = main zone, FW =
foot wall

Leprechaun Deposit: The Leprechaun Deposit has a new (MOZ Press Release, December 16, 2010)
NI 43-101 compliant Measured and Indicated Resource of 3,284,000 tonnes
grading 2.62 cut g/t gold for a total estimated 277,000 ounces of gold.
The inferred mineral resource is 4,409,000 tonnes grading 2.01 cut g/t
gold for an estimated 285,000 ounces of gold. The new resource was
calculated using a 0.5 g/t gold minimum cut-off and a 3 meter minimum
width. The Leprechaun Gold Deposit is open at depth and along strike
with 74% of the current M & I ounces occurring within 150m of surface.

All of the samples were analysed at Eastern Analytical Laboratory Ltd.,
in Springdale, Newfoundland. Samples were assayed using lead collection
fire assay with AA (atomic absorption) finish. Results from fire assay
are used for drill hole planning only. Assay results for the planned
update of the December, 2010 resource will be determined by an ongoing
metallic screening process. Due to the coarse nature of the gold at the
Leprechaun Deposit, the metallic screening method is used on
economically important intersections using standard fire assay
techniques. The reported values in this release are fire assay results.

Valentine East: Valentine East is a gold zone located 13 km along strike to the
northeast of the Leprechaun Deposit. Historical drilling of 21 widely
spaced drill holes tested the zone over a strike length of 800 m. Most
of the drilling was focused on mineralization approximately 250 m
northwest of the sedimentary contact with the gold bearing granite.
These holes indicated potential for wide zones of low-grade gold
mineralization near surface. The best hole was VL99-17, which
intersected 61.06 m grading 1.09 g/t, however 39.91 m of that intercept
was not sampled and was therefore added as zeros values to the grade
calculation. The current program will test the potential of this zone
and the 250 m of rock to the sedimentary contact where some gold has
been found on surface and in 4 historical drill holes drilled along the
granite/sedimentary contact

Sherry Dunsworth, M.Sc., P. Geo., VP of Exploration, is Marathon's
Qualified Person in compliance with National Instrument 43-101 with
respect to this release.  Ms. Dunsworth has reviewed the contents for
accuracy and has approved this press release on behalf of Marathon.

Gary Woods, P. Geo, President and CEO is Mountain Lake's Qualified
Person and has reviewed and approved the contents of this news release.

About Marathon Gold Corporation:

Marathon Gold Corporation ('Marathon') is one of Canada's newest gold
resource development companies, with projects located in the mining
friendly province of Newfoundland and Labrador and now a project in the
prolific Coeur d'Alene Mining District of Idaho.  Marathon has a tiered
project pipeline consisting of early stage exploration to advanced
resource development projects that may be built into mineable
reserves.  Marathon is continually evaluating new gold resource
development projects of merit that are located within the Americas. 
Marathon's focused and low-cost approach to resource development and
exploration has an established record of delivering rapid growth. 
Marathon is the operator of the Valentine Lake Project under the joint
venture with MOA.  For more information visit: www.marathon-gold.com

About Mountain Lake Resources Inc:

Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior
exploration company, whose corporate strategy is to build shareholder
value through the exploration and development of economically viable
mineral properties. Mountain Lake's current projects include: a 50%
interest in the Valentine Lake gold property (Newfoundland) under the
joint venture with Marathon Gold Corp; a 100% interest in the Glover
Island gold exploration property (Newfoundland); an option to earn a
100% interest in the Little River gold-antimony exploration property
(Newfoundland); a 100% interest in the Bobby's Pond base metals
property (Newfoundland); and a minority (~6.4%) stake in Etruscan
Diamonds Ltd., an alluvial diamond project (South Africa). For more
information visit: www.mountain-lake.com.

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