1

Fall 2012

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

TSX:MOZ

2

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.

TSX:MOZ

3

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

TSX:MOZ

4

Capitalization

Capital Structure

Share Price (09-11-12) $0.80

Shares Outstanding 50,181,514

Warrants (average price $1.93) 3,650,650

Options (at $1.61) (at $0.65)

1,740,0001,690,000

Fully diluted 58,157,164

Market Cap ~C$40 million

Analysts• Fraser Mackenzie• Octagon Capital Corp.

Share Price

TSX:MOZ

5

Focused on Developing North American Gold Resources

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

Current Resources (at 100%)Valentine Lake Project: M&I 424,000 oz Au @ 2.05 g/t Au, Inferred 305,000 oz Au @ 1.65 g/t Au

Golden Chest Mine: M&I 147,000 oz Au @ 1.47 g/t Au, Inferred 233,300 oz Au @ 1.46 g/t Au

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

TSX:MOZ

6

Our Projects

Legend

Advanced Stage

1. Valentine Lake– Leprechaun Deposit

2. Golden Chest

Early Stage

1. Bonanza2. Baie Verte3. Finger Pond

TSX:MOZ

7

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

TSX:MOZ

8

Corporate Strategy Going Forward

“We Add Value by Adding Quality Ounces”

Marathon Gold’s 2012/2013

Strategy

GROWTH

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

UPDATING RESOURCES

- 22,000 m of drilling to be added to the Valentine Lake Project Resource by the end of the year-7,000 m of drilling to be added to the Golden Chest Mine Resource

CONSERVING CAPITAL

- 1 drill turning- Prospecting, trenching and geological mapping

TSX:MOZ

9

Valentine Lake Project, Newfoundland (100%)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%

Total 58,500 m drilling (2010-2012), of which 22,000 m (2012) is to be added to the Resource by year end 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

3 Dimensional Model of the Leprechaun Gold Deposit, Main Zone Alteration and Surface Resource Boundary

Surface

Section 9800

Section 10550

Open to Depth

Elevation

- 400m

- 100m

- 200m

- 300m

TSX:MOZ

10

Selected 2012 Drill Results; Resource Update by Q4 2012

• 22,000 m of drilling to be added to the updated Resource Estimate in Q4 201• The deposit remains open down-dip and along strike to the northeast and southwest

* True Thickness

Zone Hole ID From (m) To (m) Length*(m) Gold (g/t)

LGD VL-12-393 115 130 13.5 4.31

VL-12-395 252 261 7.7 11.28

VL-12-402 277 301 21.6 4.05

VL-12-403 210 232 20.9 7.23

VL-12-407 289 304 13.5 9.19

VL-12-408 153 172 18.1 13.81

VL-12-410 277 289 11.4 8.06

VL-12-437 228 240 10.2 6.10

VL-12-440 369 396 21.6 3.81

FZ VL-12-431 92 157 61.75 0.64

TSX:MOZ

11

Newfoundland, Valentine Lake Project 100% Owned: Flagship Project

TSX:MOZ

12

Newfoundland, Valentine Lake Project 100% Owned - Deposit Expansion

TSX:MOZ

13

Newfoundland, Valentine Lake Project 100% Owned : Leprechaun Deposit

TSX:MOZ

14

Newfoundland, Valentine Lake Project 100% Owned : Leprechaun Deposit

TSX:MOZ

15

Newfoundland, Valentine Lake Project 100% Owned : Leprechaun Deposit

TSX:MOZ

16

Leprechaun Gold Deposit: Coarse and Free Gold

TSX:MOZ

17

Newfoundland, Finger Pond

TSX:MOZ

18

Idaho - Golden Chest MineProlific Coeur d’Alene Mining District

Idaho Hill

View West

TSX:MOZ

19

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

18,034 m drilled to date (2011-2012)

7,000 m of drilling to be added to the updated Resource Estimate

Past 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

Katie - Dora

“H” Vein

TSX:MOZ

20

Idaho, Golden Chest MineOpen-Pit & Underground Potential

Open pit potential and significant opportunity for reserve growth with underground drilling

2011 Drilling – 102 DDH’s – 11,456m

2012 Drilling – 50 DDH’s - total 6,578m to date

TSX:MOZ

21

Oregon

Circa 1904

BONANZA MINE

TSX:MOZ

22

Oregon, Bonanza Mine (100%):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

TSX:MOZ

23

Bonanza Mine: Property Boundary

Basalt

Volcanic

Volcaniclastic

Basalt

Slate

Slate

North Vein

Bonanza Vein

South Vein

TSX:MOZ

24

Bonanza Mine: Property Boundary

TSX:MOZ

25

Reasons to Invest

LOCATION

Mining-friendly jurisdictions: Newfoundland, Idaho and Oregon

Established infrastructure; road access, water, fully equipped on-site camp

Socio-economic and political stability; no native issues

TSX:MOZ

26

www.marathon-gold.com416-987-0714

Phillip WalfordPresident and CEOpwalford@marathon-gold.com

Jennie GuayInvestor Relations Managerjguay@marathon-gold.com