Leprechaun Gold Deposit Continues to Grow with Latest Results Intersecting 3.15 g/t Au over 21.5m (true width) in New Zone

TORONTO AND HALIFAX, March 8 /CNW/ --
Drilling continues and more results are pending

TORONTO AND HALIFAX, March 8 /CNW/ - Marathon Gold Corporation (TSX: MOZ) ('Marathon Gold') and Mountain Lake Resources Inc. (TSXV: MOA) ('Mountain Lake') are pleased to announce the intersection of a wide zone of
mineralization grading 3.15 g/t Au over 21.5m including 9.78 g/t Au
over 2m and 9.31 g/t over 2.5m in VL-11-250 at the Leprechaun Gold
Deposit (Figure - LP). This mineralization represents a down dip extension of the wide zone
of mineralization reported in VL-11-246 (PR March 2, 2011) along the NE
edge of the Leprechaun Gold Deposit (Figure - LP), the first defined
gold resource within the highly prospective Valentine Lake Property in
central Newfoundland.

Highlights:

    --  The center of the new 21.5m wide (true width) mineralized
        intercept grading 3.15 g/t Au in VL-11-250 is located 60m below
        and 13m south of the mineralized zone previously reported in
        VL-11-246, which graded 3.75 g/t over 37.5 m (true width)

    --  The area of the Leprechaun Gold deposit bounded by VL-11-246
        and VL-11-250 was previously characterized as containing only
        isolated blocks of inferred mineralization in the December 2010
        resource and these drill holes will effectively pull the
        current Measured and Indicated resource down dip The
        mineralization in VL-11-249 is located up dip and along strike
        of the wide zone of gold mineralization intersected in
        VL-11-250

    --  The results from VE-11-003 are very encouraging as we continue
        to delineate zones of low grade mineralization in an area of
        Valentine East not previously drilled.

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

 _____________________________________________________________________
|         |         |      |      |        |  Core   |True |          |
|         |         |      | From |        |Width (m)|Width|          |
|    DDH  | Section | Zone | (m)  | To (m) |         | (m) |Gold (g/t)|
|_________|_________|______|______|________|_________|_____|__________|
|VE-11-003|   7150  |      |  131 |   134  |      3  |   3 |    1.61  |
|_________|_________|______|______|________|_________|_____|__________|
|VE-11-003|   7150  |      |  243 |   256  |     13  |  13 |    1.40  |
|_________|_________|______|______|________|_________|_____|__________|
|including|   7150  |      |  244 |   247  |      3  |   3 |    4.45  |
|_________|_________|______|______|________|_________|_____|__________|
|VL-11-249| 10487.5 |   MZ |   59 |    62  |      3  |   3 |    0.96  |
|_________|_________|______|______|________|_________|_____|__________|
|including| 10487.5 |   MZ |   60 |    61  |      1  |   1 |    2.82  |
|_________|_________|______|______|________|_________|_____|__________|
|         |         |      |      |        |         |     |          |
|_________|_________|______|______|________|_________|_____|__________|
|         |         |      |      |        |         |     |          |
|_________|_________|______|______|________|_________|_____|__________|
|VL-11-250|   10500 |   MZ |  120 |   127  |      7  | 3.5 |    3.45  |
|_________|_________|______|______|________|_________|_____|__________|
|VL-11-250|   10500 |   MZ |  161 |   204  |     43  |21.5 |    3.15  |
|_________|_________|______|______|________|_________|_____|__________|
|including|   10500 |   MZ |  161 |   172  |     11  | 5.5 |    6.19  |
|_________|_________|______|______|________|_________|_____|__________|
|including|   10500 |   MZ |  168 |   172  |      4  |   2 |    9.78  |
|_________|_________|______|______|________|_________|_____|__________|
|including|   10500 |   MZ |  189 |   201  |     12  |   6 |    4.54  |
|_________|_________|______|______|________|_________|_____|__________|
|including|   10500 |   MZ |  196 |   201  |      5  | 2.5 |    9.31  |
|_________|_________|______|______|________|_________|_____|__________|

Estimated  true widths, MZ = main zone

Phill Walford, President and CEO, for Marathon Gold stated, 'We are very
pleased with our early 2011 drill results as this year's exploration
program continues to intersect new wide zones of moderate to locally
high grade mineralization and should contribute significantly to our
ongoing resource development effort.'

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 future
updates 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.

About the Valentine Lake Joint Venture: The Valentine Lake Project is a 50/50 joint venture between Marathon
Gold and Mountain Lake. The Leprechaun Gold Deposit is situated at the
south-western end of the Valentine Lake Property and the Valentine East
Gold Zone is located 13 km along strike running in a north-easterly
direction.  These gold occurrences form part of a 23 km long, highly
prospective gold-bearing mineralized corridor. Marathon is the operator
of the Project, and the companies have agreed to jointly fund a $6
million budget in 2011 that will include a planned 25,000 metres of
drilling.

Leprechaun Deposit: The Leprechaun Deposit has a new (News release, December 16, 2010) NI 43-101 compliant Measured and Indicated Resource of 3,284,000
tonnes grading 2.62 g/t gold for a total estimated 277,000 ounces of
gold. The inferred mineral resource is 4,409,000 tonnes grading 2.01
g/t gold for an estimated 285,000 ounces of gold. The new resource was
estimated using a 0.5 g/t gold minimum cut-off over 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.

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 zero 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, Marathon's
Qualified Person, 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. (TSXV: 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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon Gold,
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'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 or results otherwise.

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