Published: July 14, 2020 |

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Marathon Gold Corporation released an update on community programs that it is supporting in the central region of Newfoundland and Labrador (NL). These programs represent both long-standing development initiatives focused on the six communities within the area of greatest social and economic impact of the Valentine Gold Project and, more recently, new funding initiatives made in response to economic impacts experienced in the region associated with the COVID-19 pandemic. In total, up to $200,000 of financial support is being committed.

“The community financial support that we are describing today represents Marathon’s long-term commitment to the well being of the central Newfoundland region where we propose to develop a significant gold-mining business at the Valentine Gold Project. In addition to our ongoing community development programs, we are also acknowledging the extraordinary economic dislocation that the region has experienced due to the COVID-19 pandemic. This is despite the impressive results Newfoundland and Labrador has achieved in its containment of the virus. This containment is what is allowing us to continue our work at the Valentine Gold Project camp,” said Matt Manson, president and CEO.

“In 2020, Marathon was awarded $89,000 from the Junior Exploration Assistance Program of the NL Government to support the ongoing exploration at the Valentine Gold Project. Our COVID-19 community response funding announced today represents a matching investment back into the communities of central Newfoundland, helping to offset the adverse impacts that many essential local service organizations have experienced on their normal fund-raising activities,” added Manson.

DEVELOPMENT PROGRAMS

Marathon has committed up to $110,000 in funding to support a variety of development initiatives selected by each community in the region. These include much needed upgrades to the T.A. Soper Memorial Stadium in the town of Buchans and support for visitor experiences in Millertown, such as signage and a new memorial garden. Financial support has also been committed to the 2020 Millertown Come Home Festival and Fishing Derby, both of which have now been postponed to 2021. Support for maintenance to the Buchans Junction Bridge has been provided in addition to support for upgrades to the Buchans Junction Fire and Town Hall. Funds have also been committed to the communities of Bishop’s Falls, Badger and Grand Falls-Windsor in support of locally directed community improvement programs and events.

RESPONSE TO COVID-19

In addition to these ongoing community development programs, Marathon has committed a further $90,000 in financial support for several service organizations dealing with the economic impact of the recent COVID-19 pandemic on the region. This includes $30,000 to the South and Central Health Foundation supporting local hospitals in acquiring PPE supplies and specialized low-contact medical equipment. Additional funds have been committed to volunteer organizations in each of the region’s six communities in the areas of food security, support for vulnerable populations, and PPE supplies for service organizations such as volunteer fire departments and Boys and Girls Clubs.

About Marathon Gold
Marathon Gold Corporation engages in the acquisition, exploration, and development of mineral resource projects in Canada. The company explores for gold, and precious and base metal deposits. Its flagship property is the Valentine Lake gold property located in Newfoundland and Labrador, Canada. The company was incorporated in 2009 and is headquartered in Toronto, Canada.

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