Marathon Gold Confirms Berry Regulatory Assessment Process Proceeding to Plan

TORONTO, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce that it has received confirmation from the Impact Assessment Agency of Canada (“IAAC”) that changes to the Valentine Gold Project (the “Project”) to accommodate an open pit and associated infrastructure at the Berry Deposit (the “Berry Complex”) do not constitute a new Designated Project, and as such do not require a new impact assessment under the Impact Assessment Act (“IAA”). This means that the assessment and subsequent permitting of the Berry Complex can proceed as previously anticipated, comprising an Environmental Assessment (“EA”) of a “new undertaking” by the provincial regulator, and a modified Decision Statement by the federal regulator. Consistent with previous guidance and the Project’s December 2022 Updated Feasibility Study, Marathon anticipates these review processes will be completed during 2023 and 2024, well in advance of the scheduled commencement of mining at Berry in the second quarter of 2025.

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