2007 News Releases

January 29, 2007

Mawson Announces $8 Million Private Placement Financing

Vancouver, Canada - Mawson Resources Limited (the "Company") TSXv - MAW; Frankfurt - MRY. Mr. Michael Hudson, President and CEO, announces a non-brokered private placement financing of up to 4,000,000 units at $2.00 per unit, each unit consisting of one common share and one half warrant.

Each whole warrant will be exercisable at $2.75 for a period of one year from the date of closing of the private placement. Each warrant will be subject to forced conversion which comes into effect once the shares trade on a weighted average price of $3.50 for 20 consecutive trading days. The expiry date of the warrants will then be 30 days from the date of issue of a news release announcing the forced conversion.

A finder's fee of 7% cash is payable on a portion of the financing.

The net proceeds from the financing will be used for exploration expenses of the Company's projects in Sweden, Finland and Spain, for future property acquisitions and for general working capital.

On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO

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.