Mawson Exploration Update and Launch of New Website
Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY Vancouver: Mr. Michael Hudson, President & CEO, presents an exploration update and announces the launch of a new company website.
The new website at www.mawsonresources.com reflects Mawson's focus as a European uranium exploration company. The new website incorporates the latest technical advancements in design, including RSS feeds. A new webcast from senior management can also be viewed directly from the homepage.
Recent corporate developments have included undertaking a CDN$750,000 private placement with Pinetree Capital Ltd. With no debt, Mawson's cash position is more than CDN$11 million.
During the period in Sweden, the Company announced the discovery of the Urban Hill prospect in Hotagen and the staking of the Kappel project in central Sweden.
Field mapping and spectrometer surveying lead to the discovery of Urban Hill, comprised of four high grade mineralized outcrops in a 150 metre by 20 metre area. Nine spectrometer assays from these outcrops ranged from 0.04% eU3O8 to 2.90% eU3O8 and averaged 1.13% eU3O8. Mineralization in each outcrop is hosted by fractures which are exposed up to 20 metres in length. The fractures, each up to 10 centimetres wide, strike 180 degrees north and are closely spaced over combined widths of up to 12 metres.
Three exploration claims at Kappel were selected across a 15 km trend where high grade sandstone hosted/roll front mineralization has been intersected in historic drilling. This is a new form of mineralization for Sweden and demonstrates the potential for new camp to be identified. Better historical drill intersections include: 2.65 m @ 1.54% eU3O8 from 21.8 m (drill hole AVI75402) 2.65 m @ 1.05% eU3O8 from 3.2 m (drill hole AVI75401). Historic data is now being compiled from Kappel and a field program planned for later in the northern summer.
Exploration activity in Sweden has also focused on preparation for a significant drill program at Hotagen which is planned to commence later this year. Work has included structural mapping, petrographical studies, analysis of recent drill programs, alteration studies and 3D mapping.
In Spain, Mawson holds 2 granted investigation permits and one investigation permit application in the Extremadura district of SW Spain. The Company's Don Benito uranium claims surround the La Haba open pit uranium mine and historic resource area which ceased operation in 1990. The mine and historic resource area are held within the 3,865 hectare La Haba State Mineral Reserve to which Mawson has no entitlement. The Company has completed digitizing of the exploration and mining database of Don Benito, which includes more than 150 kilometres of drilling. This data will fast track the identification of exploration targets over the 40 kilometres uranium mineralized trend held by the Company. Additionally, Mawson remains in close discussion with the Spanish authorities regarding the Mineral State Reserve area. Consolidation of mineral tenure in the Don Benito area is one key for the successful development of the project and will determine Mawson's ultimate work programs in Spain for the year.
No significant work took place in Finland during the period as the Company waits for granting of its uranium claims.
Mr Hudson states, "Mawson continues to develop its uranium portfolio in nuclear energy reliant countries in Europe. Mawson's focus is firmly on expanding the resource base of economically robust uranium deposits in Spain (Don Benito) and Sweden (Hotagen, Kappel). With a strong cash position of CDN$11 million and a multi-jurisdiction European portfolio, Mawson is ideally positioned to enhance its status as a leader in the uranium exploration industry. We welcome you to visit our new website to learn more about Mawson and stay up to date with developments in the company."
The qualified person for the Mawson's uranium projects, Mark Saxon, director and vice-president of exploration for Mawson, and a member of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
On behalf of the Board,
Michael Hudson, President & CEO
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058
Forward Looking Statement. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement. The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.