2005 News Releases

November 02, 2005

Flistjarn High Grade Uranium Project Granted

Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSXv -- MAW; Frankfurt -- MRY. Mr Michael Hudson, President & CEO, is pleased to announce the granting of the 200 hectare Flistjärn nr 1 exploration permit by the Swedish Mining Inspectorate (Bergstatten) for a term of three years.

As described in the Mawson News Release dated August 23, 2005, historical sampling by the Swedish Geological Survey encountered high uranium oxide grades in 1977. Ten samples assayed from a fracture network over an area of 600m by 550m, ranged from 0.07% U3O8 to 21.06% U3O8 and averaged 5.5% U3O8.

Uranium mineralization at Flistjärn lies on the south-western extension of a 14 kilometre long lineament which hosts a number of uranium prospects. The vein style mineralization at Flistjärn is hosted by a structurally-bound block of Paleozoic sediments within Precambrian volcanics, in the County of Jämtland close to the Norwegian border. Mineralization is characterized by vein fill of colloform pitchblende with lesser pyrite, chalcopyrite and silver-rich galena. The two principal mineralized structures dip sub-vertically and trend in a north-easterly direction for over 600 metres and 250 metres respectively. Each structure is comprised of veins and fractures across a total width of up to 2 metres. Other uranium occurrences exist in structures perpendicular to the main fracture network, parallel to the thrust which divides the Paleozoic and Precambrian age sequences. A map of the area can be found at http://www.mawsonresources.com/index.php?page=ProjectsFlist.

Surface rock chip sampling and geological mapping at Flistjärn will commence within the next month once appropriate stakeholder approvals have been sought.

The qualified person as defined by National Instrument 43-101 is Mark Saxon, a Director and the Vice-President of Exploration for Mawson, and Member of the AusIMM, has verified the information contained in this release.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, President & CEO

Investor Information
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Forward Looking Statement.
This news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange nor the Frankfurt Deutsche Börse have reviewed the information contained herein and, therefore, do not accept responsibility for the adequacy or accuracy of this news release.