Marathon Completes Purchase of Bamoos Land Package
Marathon PGM Corporation announce that it has completed the purchase of the Bamoos Land Package from Benton Resources. Marathon purchased 100% ownership of a land package consisting of one mining lease and one claim block covering a total of 329 hectares, adjoining the northern border of the Marathon PGM-Cu Project located 10 km north of Marathon, Ontario. All terms of the purchase agreement have been met and land title has been transferred over to Marathon.
“Purchase of the Bamoos property is a strategic move and will benefit the Marathon Project. Being involved with Benton was a mutually beneficial experience and we hope there are other opportunities in the future,” commented Phillip Walford, Marathon’s President and CEO.
Stephen Stares, Benton’s President and CEO, stated, “we are delighted to see the Bamoos transaction come to a close and we look forward to seeing the project move forward. Marathon has an exceptional team and we’re excited to be involved with our equity position and the 2% Net Smelter Royalty.”
Purchase of the Bamoos Property demonstrates Marathon’s continued commitment to increase shareholder value. The purchase further maintains Marathon’s reserve and eases future resource development.