VANCOUVER, March 28, 2013 /CNW/ – Wexford Capital LP (“Wexford“) announced today that on March 27, 2013 Wexford Spectrum Trading
Limited (“WST“) and Wexford Catalyst Trading Limited (“WCT“, and together with WST, the “Wexford Funds“), two private investment funds managed by Wexford, acquired
173,110,175 common shares of Marlin Gold Mining Ltd. (“Marlin Gold“), representing 45.57% of Marlin Gold’s issued and outstanding common
shares (“Shares“). The Shares were acquired pursuant to Marlin Gold’s rights offering
(the “Rights Offering“) as described in the final long form prospectus of Marlin Gold dated
February 6, 2013, at a price of $0.08 per Share.

Following completion of the Rights Offering, the Wexford Funds
beneficially hold, directly or indirectly, 274,558,726 Shares and 17,045,500 warrants expiring February 17, 2014 (“Warrants“), representing 73.46% of Marlin Gold’s issued and outstanding Shares
on a partially diluted basis. Immediately prior to the completion of
the Rights Offering, the Wexford Funds owned, directly or indirectly,
101,448,551 Shares and 17,045,500 Warrants. The Shares were acquired to
increase the ownership interest of the Wexford Funds in Marlin Gold.
The Wexford Funds may from time to time acquire additional securities,
dispose of some or all of the existing or additional securities or may
continue to hold the securities of Marlin Gold.

For further information and to obtain a copy of the early warning report
filed under applicable Canadian securities laws in connection with the
Rights Offering, please see Marlin Gold’s profile on the SEDAR website www.sedar.com.

About Wexford Capital LP

Wexford is an SEC registered investment advisor based in Greenwich,
Connecticut with over $4.7 billion of assets under management. Wexford
has particular expertise in the energy/natural resources sector with
actively managed investments in coal, oil and gas exploration and
production, energy services, mining and related sectors.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
the term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

SOURCE Wexford Capital LP