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AGM and Special Meeting 2012

Rapidly Developing North American Gold Resources at Low Cost and Low Risk

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Forward Looking InformationCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATIONExcept 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.

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Proven Management

Phillip Walford, P.Geo. | President , CEO & Director• 40 years in the mining industry, primarily in mining geology• Has held senior management roles at a number of companies

throughout the Americas, including Anaconda Gold, Geomaque Exploration, LAC Minerals, Pamour Porcupine Mines, and Hudson Bay Exploration and Development

Sherry Dunsworth, P.Geo. | VP of Exploration• 25+ years in the mining industry• Has held positions with Anaconda Gold and Marathon PGM• Former member of the Mineral Rights Adjudication Board of

Newfoundland and Labrador• Former Geoscience Councilor for the Association of

Professional Engineers and Geoscientists of Newfoundland and Labrador

Jim Kirke, CA | CFO• 15+ years involvement in the mining industry• Former CFO of BacTech Mining and Golden Odyssey Mining

Phillip Walford, P.Geo. | See Management

George Faught, CA | Non-Executive Chairman• 30+ years in the financial management and resources

industries• Former CFO of North American Palladium

Joe Spiteri, P.Geo. | Director• 30+ years in the mining industry• Former senior Manager and Officer with Placer Dome,

Northgate Explorations, Lac Minerals and Campbell Resources

Page Chilcott | Director• Former President of the Vancouver Stock Exchange

David Poynton | Director• 30+ years of legal and business experience• President and CEO of Daycon Minerals• Former Senior VP, General Counsel and Corporate Secretary for

Iberian Minerals and Cadillac Ventures

Management Board of Directors

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Capitalization

Capital Structure

Pre-MOA Acquisition

Post-MOA Acquisition

Share Price (06-15-12) $0.87

Shares Outstanding 29,871,928 50,394,718

Warrants 2,140,995 4,712,550

Options (at $1.61) 2,689,000 2,689,000

Fully diluted 34,701,923 57,796,268

Market Cap ~C$26 million ~C$44 million

Analysts• Fraser Mackenzie• Octagon Capital Corp.

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Focused on North American Gold Resources

Marathon Gold takes a 3-Prong approach to de-risking your investment

Marathon Gold currently has 920,000 oz of Resource and growing!1

Marathon Gold

Focused on developing gold

Resources in Canada and USA only-

current Resources are expanding!

Projects have solid infrastructure and

are located in mining-friendly

jurisdictions

Projects have >1,000,000 oz Au potential of good grade potential

1. Assuming completion of the Mountain Lake Resources acquisition

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Our Projects

Legend

Advanced Stage

1. Valentine Lake– Leprechaun Deposit

2. Golden Chest

Early Stage

1. Bonanza2. Baie Verte3. Finger Pond

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Deposit Tonnes Au Grade g/t

Gold (oz)

Tonnes Au Grade g/t

Gold (oz)

100%-Owned Valentine Lake

Project1,2

Global Updated Resource Estimate

6,450,000 2.05 424,000 5.740,000 1.65 305,000

Summary of Global Resources

Inferred Resources

1. Source: Technical Report on the Mineral Resource Estimate for the Leprechaun Gold deposit Valentine Lake Gold Project Central Newfoundland, Canada, dated March 29, 2012.2. Assuming completion of the Mountain Lake Resources acquisition3. The Golden Chest Mine is a 50/50 Joint Venture with New Jersey Mining Company, therefore Marathon Gold Reserves and Resource account for half

Deposit Tonnes Au Grade g/t

Gold (oz)

Tonnes Au Grade g/t

Gold (oz)

Inferred Resources

Golden Chest Mine Global Initial

Resource Estimate 3 3,107,000 1.47 147,000 4,978,000 1.46 233,300

TOTAL M&I and TOTAL Inferred Valentine Lake

Project and Golden Chest Mine

9,557,000 1.86 571,000 10,718,000 1.56 538,300

M and I Resources

M and I Resources

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Corporate Strategy Going Forward

“We Add Value by Adding Quality Ounces”Marathon Gold’s

2012/2013 Strategy

CONSERVING CAPITAL

-1 drill turning-Prospecting and surveying

UPDATING RESOURCES

- 25,000 m of drilling to be added to the Valentine Lake Project Resource-6,600 m of drilling to be added to the Golden Chest Mine Resource

GROWTH

-Progressing the Valentine Lake Project and Golden Chest Mine towards the million ounce mark-longevity in a volatile market

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www.marathon-gold.com416-987-0714

Phillip WalfordPresident and CEOpwalford@marathon-gold.com

Jennie GuayInvestor Relations Managerjguay@marathon-gold.com

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Our Projects

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Newfoundland, Valentine Lake Project 100% Owned: Flagship Project

Deposit Expansion

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Leprechaun Gold Deposit: Updated NI 43-101 Resource Estimate

GLOBAL RESOURCE ESTIMATE

Total ResourceAbove 0.50 g/t

cut off1

Tonnes Cut Au (g/t) Au oz

Measured 1,378,000 1.90 84,000

Indicated 5,068,000 2.09 340,000

M+I 6,446,000 2.05

Inferred 5,742,000 1.65

Updated NI 43-101 compliant Resource Estimate; M&I Increase of 54%

XX m drilled to date; Updated Resource Estimate based on 25,000 m of drilling in 2011

Leprechaun Gold Deposit has been extended along strike and down-dip

Hanging-wall zones are open in all directions

Coarse and free gold have excellent metallurgical recoveries with ~50% by gravity, total >90%

424,000

305,000

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Idaho, Golden Chest Mine: NI 43-101 Resource Estimate, Near Surface Open-Pit

Initial Resource Estimate based on 10,000 m of drilling in 2011

XX m drilled to date

Produced 8,500 t of ore with an average grade of 6.90 g/t and an average recovery of ~94%

Fully permitted surface and timber rights with an existing reserve and exploration potential

GLOBAL RESOURCE ESTIMATETotal Cut-off

0.40 g/t

Tonnes g/t Au Au oz

M+I 3,107,000 1.47

Inferred 4,978,000 1.46

IN OPEN PITTotal Cut-off

0.40g/tTonnes g/t Au Au oz

M+I 2,788,000 1.35 121,100

Inferred 3,847,500 1.45 179,000

147,000

233,300

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Oregon, Bonanza Mine:Historical High-Grade Producer

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

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Bonanza Mine: Property Boundary

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Reasons to Invest:Delivering on Milestones

2010 2011 2012 2013

Stillwater Resources purchases Marathon PGM for $110 Million

Gold assets of Marathon PGM are spun out; Marathon Gold is formed

Golden Chest Mine is acquired

Initial Resource Estimate is released on Valentine Lake Project

25,000 m drill program commences at Valentine Lake

10,000 m drill program commences at Golden Chest Mine

Bonanza Mine is acquired

40,000 m drill program commences at Valentine Lake Project

Signed Acquisition Agreement with Mountain Lake Resources for 100% ownership of Valentine Lake

20,000 m drill program commences at Golden Chest Mine

Initial NI 43-101 Resource Estimate released on the Golden Chest Mine

Updated NI 43-101 Resource Estimate released on Valentine Lake Project; M&I increase of 53%

PEA anticipated for Valentine Lake Project

2009

Valentine Lake Project acquired by Marathon PGM

Updated Resource Estimate at Valentine Lake Project expected Q1 2013

Updated Resource Estimate at Golden Chest Mine expected Q1 2013