1. Rapidly Developing North American Gold Resources at Low Cost and Low Risk
Winter Presentation 2012
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2. Forward Looking
TSX:MOZ
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.

3. Proven Management
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Management Board of Directors
Phillip Walford, P.Geo. | President , CEO & Director Phillip Walford, P.Geo. | See Management
• 40 years in the mining industry, primarily in mining geology
• Has held senior management roles at a number of companies George Faught, CA | Non-Executive Chairman
throughout the Americas, including Anaconda Gold, Geomaque • 30+ years in the financial management and resources
Exploration, LAC Minerals, Pamour Porcupine Mines, and Hudson industries
Bay Exploration and Development • Former CFO of North American Palladium
Sherry Dunsworth, P.Geo. | VP of Exploration Joe Spiteri, P.Geo. | Director
• 25+ years in the mining industry • 30+ years in the mining industry
• Former member of the Mineral Rights Adjudication Board of • Former senior Manager and Officer with Placer Dome,
Newfoundland and Labrador Northgate Explorations, Lac Minerals and Campbell
• Former Geoscience Councilor for the Association of Professional Resources
Engineers and Geoscientists of Newfoundland and Labrador
Page Chilcott | Director
Jim Kirke, CA | CFO • Former President of the Vancouver Stock Exchange
• 15+ years involvement in the mining industry
• Former CFO of BacTech Mining and Golden Odyssey Mining David Poynton | Director
• 30+ years of legal and business experience
• Former Senior VP, General Counsel and Corporate Secretary for
Iberian Minerals and Cadillac Ventures

4. Strong Balance Sheet TSX:MOZ
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Strong Balance Sheet Share Price Performance
Share Price (02-08-12) $0.93
Shares Outstanding 29,871,928
Price (CAD)
Warrants ($1.80) 2,140,995
Options (at $1.61) 2,689,000
Fully diluted 34,701,923
Market Cap ~C$27.7million
Investors Stillwater (15%)
Sprott
Sentry Select Month
Analysts
•Haywood Securities
•Fraser Mackenzie
•Octagon Capital Corp.
•Pope and Company
•Canaccord

5. Company Highlights TSX:MOZ
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 Three gold projects in mining-friendly jurisdictions
- Valentine Lake Project in central Newfoundland (50/50 JV with Mountain Lake
Resources)
Three robust gold
- Fully permitted Golden Chest Mine in Idaho’s prolific Coeur d’Alene Mining District
projects (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)
 Aggressive drilling programs
- approx. 36,000 m of drilling completed at the Valentine Lake Project by Marathon
Near-term
Gold; expanding the existing resource
resource growth - 40,000 m 2012 drill program at Valentine Lake Project
potential - 10,000 m 2011 program completed at Golden Chest Mine
- 25,000 m 2012 drill program at Golden Chest Mine
 Quartz veining new gold discovery at the Leprechaun Gold Deposit (J. Frank Zone)
Significant  Five gold prospects identified along 17 km of strike at Valentine Lake Project
exploration - Leprechaun Gold Deposit Resource contained within 750 m strike
pipeline  Significant exploration potential at both Valentine Lake Project and Golden Chest Mine
Several near-  Initial Resource Estimate at Golden Chest Mine expected Q1-2012
 Updated Resource Estimate at Valentine Lake Project expected late Q1- 2012
term catalysts  Potential to advance Golden Chest Mine to development as early as 2013 given
underground infrastructure and permits in place

6. Our Projects TSX:MOZ
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Legend
Advanced Stage
1. Valentine Lake
– Leprechaun Deposit
2. Golden Chest
Early Stage
1. Bonanza
2. Baie Verte
3. Finger Pond

7. Newfoundland TSX:MOZ
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8. Valentine Lake Project:
Flagship Project TSX:MOZ
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9. Valentine Lake Project:
Leprechaun Gold Deposit TSX:MOZ
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 The most explored deposit among the 5 known gold
occurrences
 Leprechaun deposit has been extended along strike
and down-dip
 Coarse and free gold have excellent metallurgical
recoveries with ~50% by gravity, total >90%
 NI 43-101 compliant Resource Estimate
Total Tonnes Cut Au (g/t) Au oz
Resource (MM)
 Aggressive 40,000 m drill program underway Above 0.50
g/t cut off1
 Resources Estimate update expected Q1 2012 Measured 2.1 MM 2.768 187,000
Indicated 1.2 MM 2.363 90,000
M+I 3.3MM 2.622 277,000
Inferred 4.4 MM 2.007 285,000
Total 562,000

10. Leprechaun Gold Deposit TSX:MOZ
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Ideal for open Pit
View SW towards Leprechaun Pond

11. Leprechaun Gold Deposit:
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Continuity of Mineralization 9

12. Leprechaun Gold Deposit:
Ideal for Open Pit TSX:MOZ
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13. Leprechaun Gold Deposit:
Ideal for Open Pit TSX:MOZ
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14. Leprechaun Gold Deposit:
Ideal for Open Pit TSX:MOZ
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15. Leprechaun Gold Deposit, New
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Discovery: J. Frank Zone 13
Extends 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

16. Leprechaun Gold Deposit, New
Discovery: J. Frank Zone TSX:MOZ
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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

17. J. Frank Zone:
Coarse Visible Gold TSX:MOZ
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18. Finger Pond Deposit: 100%
Owned TSX:MOZ
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Located 30 km on-strike and to the southwest from the Valentine Lake Project
Historical exploration work outlines a number of gold and base metal showings along the 20
km strike length
Exploration work planned for 2012
Marathon Gold Corporation

19. Idaho TSX:MOZ
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20. Golden Chest Mine:
Historical Producer TSX:MOZ
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 Past producing mine located within Idaho’s
prolific Coeur d’Alene Mining District
 Mining historically focused on high grade
(>17 g/t) veins (Katie+Dora, Idaho, etc)
 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
 Stable rich mining heritage and beside major
road
 10,000 m of drilling completed in 2011
 25,000 m of drilling planned for 2012
Largest historical gold producer in Coeur d’Alene Mining
District

21. Golden Chest Mine TSX:MOZ
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Patented claims and historic
open pit Resource
Open pit potential and
significant potential for reserve
growth through continued
underground drilling

22. Golden Chest Mine:
Near Surface Open-Pit TSX:MOZ
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2011 Drill Program Complete DDH-11-39 – 47.6 m @ 1.94 g/t Au
 56 drill holes
DDH-11-37 – 29.0 m @ 1.51 g/t Au
 10,000 m
 Initial Resource Estimate Q1 2012 DDH-11-38 – 21.0 m @ 1.86 g/t Au
 Underground rehabilitation underway
in the historic high grade area
DDH-11-35 – 30.5 m @ 0.86 g/t Au
2012 Drill Program DDH-11-27 – 15.5 m @ 0.59 g/t Au
 25,000 m DDH-11-30 – 21.0 m @1.30 g/t Au

23. Oregon TSX:MOZ
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24. Bonanza Mine:
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Historical High Grade Producer 22
 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
 Exploration work to commence Q2 2012

25. Summary of Reserves and
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Resources 23
Reserves & M and I Inferred
Deposit Tonnes Au Grade Gold Tonnes Au Grade Gold (oz)
g/t (oz) g/t
Valentine Lake1
3,284,000 2.6 276,843 4,409,000 2.0 285,000
Historic Reserves & M and I Historic Inferred
Deposit Tonnes Au Grade Gold Tonnes Au Grade Gold (oz)
g/t (oz) g/t
Historic Golden Chest
2,3 242,058 5.1 37,885 - - -
(underground)
Historic Golden Chest3
(open pit) 1,227,150 1.35 53,263 5,522,850 0.98 174,000
Attributable
Marathon 2,376,604 3.0 183,995 4,965,925 1.5 230,000
Reserves & Resources
1. Source: Technical Report on the Mineral Resource Estimate for the Leprechaun Gold deposit Valentine Lake Gold Project Central Newfoundland, Canada, dated January 31, 2011
2. Source: New Jersey Mining Company’s Form 10-L for the fiscal year-ended December 31, 2010
3. The Golden Chest Mine is a 50/50 Joint Venture with New Jersey Mining Company, therefore Marathon Gold Reserves and Resource account for half
4. These are historical estimates reported on the Golden Chest property which Marathon is not treating as current mineral resources or mineral reserves under NI 43-101. A qualified person has
not done sufficient work to classify the historical estimates as a current mineral resource or mineral reserve and they should not be relied upon

26. Reasons to Invest TSX:MOZ
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 Located in mining-friendly Newfoundland, Canada , Idaho and Oregon, USA
 Strong infrastructure; highway/road access, water, fully equipped on sight
LOCATION camps
 Socio-economic and political stability
 Over 80 years of proven Management experience in mining exploration,
MANAGEMENT development and production
 We have the GOLD - our focus is no longer to find the gold but develop and
grow the resources that we have
DEVELOPING  Golden Chest – Initial Resource Estimate expected Q1 2012
RESOURCES  Valentine Lake Project – Updated Resource Estimate expected 2012
 40,000 m drill program planned for 2012 at Valentine Lake Project
 25,000 m drill program planned for 2012 at Golden Chest
 Orgogenic gold deposits at Valentine and Golden Chest have significant
SIGINFICANT
exploration potential
EXPLORATION  Mineralization covering only a fraction of Valentine’s total 30 km strike has
POTENTIAL been delineated

27. TSX:MOZ
www.marathon-gold.com