Mawson Strengthens Technical Team and Comments on Cameco's Entry into Finland
Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MRY. Mr Michael Hudson, President & CEO, announces changes to senior technical positions within the Company and comments on the recent entry of Cameco Corporation, one of the world's largest uranium producers, into Finland.
Mr Terry Lees has accepted the role of Vice President of Exploration. Mr Lees obtained his Bachelor of Applied Science (Geology) from RMIT in 1978, then a Master of Science (Geology) from the University of Tasmania in 1987, and a Master of Environment from Melbourne University in 2004. He has over 30 years of global experience in the mining and exploration industry. Recently he was Exploration Manager with Copper Strike Ltd, while previously he concentrated on grassroots exploration through to feasibility studies for gold and base metal properties.
Dr Erkki Vanhanen, who came to Mawson via Areva NC in 2010, has added Sweden to his Nordic responsibilities and assumes the Role of Exploration Manager Scandinavia. Dr Vanhanen graduated from a Master of Science in Geology and Mineralogy in 1981 and completed his PhD in Geology and Mineralogy in 2001. Both degrees were completed at the University of Oulu. Dr Vanhanen's professional experience has primarily been in gold and uranium exploration for 25 years including 15 years generating, implementing and managing exploration projects in the field. He spent 3 years with Areva Resources Finland OY as Technical Director and 23 years with the Geological Survey as Finland, with a final role as Division Manager, Bedrock and Raw Materials.
Mr Rolando Ligarda continues in his role as Exploration Manager of South America. Mr Ligarda is a geologist with 24 years experience in exploration for mineral deposits in Peru, Chile and Argentina, with a strong record of discovery. He has past experience with SIMSA, Rio Tinto, Pasminco, Buenaventura, Meridian/Yamana and Hochschild, with extensive experience developing and organizing programs for the exploration, development and the evaluation of mineral projects. He was part of the teams involved in the discovery of the Yanque, Pukaqaqa, Marcapunta and Millo projects.
Mr Mark Saxon, a co-founder of Mawson, resigns from his role as VP Exploration due to his increased responsibilities as President and CEO of Tasman Metals Ltd, but remains a Director of the Company.
"We are fortunate to have technical leaders of the caliber of Messer's Lees, Vanhanen and Ligarda leading Mawson's energy and metal exploration efforts in Scandinavia and Peru. This team will ensure Mawson continues to explore and discover while maintaining its high technical standards. In addition, we thank Mr Saxon for his dedicated efforts and solid technical leadership over many years. We look forward to his continued guidance at Board level," said Mr Hudson.
Mawson also announces that Mr. Lees has been granted stock options to purchase up to 150,000 common shares of Mawson at $2.35 per share for a period of three years.
In other news, the Company welcomes the entry of Cameco Corporation, one of the world's largest uranium producers into Finland via a uranium off take agreement with Talvivaara Mining Company Plc and upfront investment of up to US$60M to cover the construction costs of a uranium extraction circuit investment.
"This is a generational decision in terms of uranium production for Scandinavia" commented Mr Hudson. "Once permitted and constructed, Talvivaara's and Cameco's uranium production will be the first in Finland for more than 50 years. This news strongly validates Mawson's focus as the leading uranium explorer in the region."
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a resource acquisition and development company with METAL and ENERGY interests.
Mawson has distinguished itself as the leading Scandinavian uranium exploration company, with advanced projects in Sweden and Finland. As the European Union moves to reduce its reliance on carbon-based energy sources and continues to debate energy security, Mawson is well positioned to provide Europe with the option to fuel its future. Areva NC holds 9.5% of the Company and provides Mawson with a solid technical shareholder.
In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new gold-copper discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European and South American portfolio, Mawson is ideally positioned to enhance its status as a leader in the uranium and gold industries.
Shares Outstanding: 50,555,753. Cash: approximately C$13 million.
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
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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.