Marathon Gold Secures Financing for 2012 Newfoundland, Idaho Exploration Programs; Shares Down 2%

Marathon Gold Corporation (MOZ.TO) today went down 2% to $1.30 from yesterday's $1.33 close but was trading at day high after announcing the closing of C$10 million equity financing.

The company said it intends to use the net proceeds from the offering for planned 2012 exploration programs on its Newfoundland and Idaho gold projects, including a 40,000 m drill program at the Valentine Lake joint venture with Mountain Lake Resources Inc. and a 25,000 m drill program at the Golden Chest joint venture with New Jersey Mining Company, and for general corporate and working capital purposes.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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