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2012 News Releases

August 20, 2012

Mawson Announces Final Phase 1 Drill Results and Updates Summer Exploration Program at Rompas, Finland

For brief webcast see "60 Second Press Release"

Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MXR, PINKSHEETS- MWSNF announces the final results from the Phase 1 drill program and updates results from the summer field program from the Rompas gold project in Northern Finland.

Mr. Michael Hudson, President & CEO, states, "Our first drill program at Rompas returned some very exciting results, notably 6 metres at 617 g/t gold in drill hole ROM0011 including 1 metre at 3,540 g/t gold, released on May 31, 2012 and 1 metre at 114.5 g/t gold in drill hole ROM0015, released on July 10, 2012. These results confirm the significance of the hundreds of bonanza grade surface occurrences that were channel sampled over the last two years and with the new drill information, we are now starting to define a continuous envelope which contains the high grade gold. Nevertheless, we are only beginning to scratch the surface of a project that exceeds 6 kilometres in strike length. Due to drill access limitations, only two small, lower priority areas were tested during this Phase 1 program.

In addition, new early stage Rompas-style surface discoveries have recently been made 8 kilometres east of Rompas at Rajapalot, significantly adding to the prospectively of this exciting area."

Rompas Drilling

Full results from Phase 1 drilling area now available, as provided in Table 1. New results released here include 1 metre at 4.3 g/t gold from 17 metres depth and 1 metre at 3.2 g/t gold from 68 metres in drill hole ROM0037.

Although the program only tested a small proportion of the 6 kilometre strike of mineralization (Figure 1a) down to an average depth of 50 metres, some spectacular drill discoveries were made. In total 39 holes for 4,187.8 metres were drilled at South Rompas in two small areas: the North (160 metre strike) and South Blocks (250 metre strike) (Figures 3 and 4). Drilling along the remainder of the trend awaits further permitting. The North Block corresponds to significant surface mineralization and was drill tested with 15 holes for 1,683.6 metres (Figures 5a and 5b). Ten holes drilled in the North Block returned gold of >0.5 g/t over one metre or better. Drilling in the South Block was of a lower priority, as it tested the southern extension of the interpreted mineralized trend under soil cover (Figure 6). Twenty-four holes for 2,504.3 metres were drilled over 240 metres of strike, two of which returned gold of >0.5 g/t over one metre or better. A majority of drilling in the South Block was designed in an east-west traverse to better understand the geology beneath glacial soils, and investigate nearby geophysical anomalies.

Assay results reported in this release are from 16 drill holes: ROM0020, ROM0025, ROM0028 and ROM0035-ROM0037 from the North Block of South Rompas (Figures 3 and 4) and ROM0016, ROM0019, ROM0021, ROM0024, ROM0026 ROM0031-ROM0034, ROM0038, ROM0039 from the South Block of South Rompas (Figures 6). Drilling was completed on 20 to 40 metre spaced sections with drill holes averaging 100 metre depth, with 1 to 4 holes drilled on each section. Holes were mostly drilled at 45 degrees to the west and east (Table 2).

Compilation of drilling data has led to an improved understanding of the Rompas mineral system. Drilling confirmed the width and scale of a >100 metre wide hydrothermal veined mineral system with a defined hanging wall and footwall. The zone is variably but consistently calc-silicate (actinolite/tremolite and calcite) veined with multiple zones up to 20 metres wide hosting 20% to 30% veining. Some veins host significant gold with visible gold noted in 12 drill holes. Mineralized veins are similar in texture and composition to those that are not mineralized. Recent research has defined an altered mafic volcanic as host to mineralization and delineated a geochemical halo which has the capability to show the extent of an envelope that hosts the high-grade gold (Figures 5a, 5b and 7). Although bonanza gold grades may not be continuous at the scale of current drilling (20 to 40 metre spaced sections), this envelope enables better drill targeting at both prospect scale and within individual high grade structures.

On receiving further drill permissions, Mawson will test the priority targets along the 6 kilometre long Rompas trend, and drill test closer to the bonanza grade veins discovered during this Phase 1 program.

Summer Exploration Program Update

In addition to the recently completed drill program, a 12 person team has been undertaking an active summer exploration program at Rompas and surrounding areas. Work completed to date includes 62 line kilometres of geophysical surveying (gradient array induced polarization) over the Rompas trend; a 1,200 sample soil grid and rock chip program over the prospective sequence in the semi-regional Rompas trend and regional prospecting.

As a result of the prospecting work, a new area of Rompas-style mineralization has been discovered at Rajapalot, 8 kilometres east of Rompas (Figure 1a). The area was targeted with airborne radiometrics and surface soil geochemistry (Figure 1b). Visible gold and uraninite has been found within carbonate veins within albitized basalt in 3 sites (2 boulders, one outcrop) within an 800 metre trend where 36 radioactive spots have been identified to date. All radioactive sites have been discovered under thin soil by means of hand-held spectrometers and routine sampling is yet to take place. This trend lies within a broader 5 kilometre long anomalous area where 96 radioactive sites have been located where the rocks contain uraninite within in albitized, sericitized, sulphide-bearing and variably amphibole altered quartzites. Reconnaissance grab sampling of some areas has been undertaken, work continues and results of sampling are awaited.

In other news, in keeping with the Company's strategy to focus in Scandinavia, Mawson has staked seven claim reservations through Finland for a total of 104,223 hectares which have potential for Rompas and other styles of mineralization. In addition, in Sweden the Company has staked six claim applications in three project areas for a total of 23,053 hectares. Information regarding these additional claims will be announced as further research is conducted.

Quality Control

Drilling was undertaken by Olstam Borrteknik AB of Sweden who provided 47 millimetre diameter core and Arctic Drilling Company Oy Ltd of Finland who provided 50.7 millimetre diameter core. Drill recoveries are excellent and average close to 100% in fresh rock. Drill intersections are estimated to be 70 to 90 per cent of the true width. After photographing and logging, core intervals averaging one metre in length were cut in half at the Geological Survey of Finland core facilities in Rovaniemi, Finland. These half core one metre samples weigh two to three kilograms. The samples were then transported by Mawson personnel to ALS Chemex Ltd's laboratory in Pitea, Sweden where the samples were prepared and sent to ALS Chemex Ltd's laboratory in Vancouver, Canada to be analyzed by Au-ICP21, GRA-21, ME-MS41u, PGM-ICP27 and ME-MS61u techniques. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process. The remaining half core is retained on site for verification and reference purposes. Test work has shown >90% of gold at Rompas to be fine and <100┬Ám in diameter.

The qualified person for Mawson's Finnish projects, Mr Terry Lees, VP Exploration for Mawson and Fellow of the Australian Institute of Geoscientists has reviewed and verified the contents of this release.

About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)

Mawson Resources Limited is a resource acquisition and development company. The Company has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, President & CEO

Investor Information
www.mawsonresources.com
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Seema Sindwani (Institutional IR) +1 647-478-3017
Nick Nicolaas (Retail IR) +1 (604) 657 4058
Email: info@mawsonresources.com

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.

Table 1: New and previously reported uncut assay results from drill holes ROM0001 to ROM0039 (0.5 g/t gold lower cut-off); previously reported in Mawson press releases dated May 31, 2012 and July 10, 2012. Holes ROM0001-ROM0006, ROM0016, ROM0019, ROM0021, ROM0023, ROM0024, ROM0026-ROM0033, ROM0038 and ROM0039 (southern block) and holes ROM0014, ROM0020, ROM0025, ROM0035 and ROM0036 (northern block) did not return mineralization above 0.5 g/t gold.

HOLE ID DEPTH FROM (m) DEPTH TO (m) WIDTH (m) GOLD g/t Date Reported
ROM0007 36 37 1 1.6 May 31 2012
ROM0008 100 101 1 0.5 here
ROM0009 46 47 1 1.7 May 31 2012
ROM0010 29 30 1 10.8 May 31 2012
ROM0010 49 50 1 0.5 here
ROM0011 7 8 1 22.8 May 31 2012
ROM0011 8 9 1 0.1 May 31 2012
ROM0011 9 10 1 0.0 May 31 2012
ROM0011 10 11 1 0.0 May 31 2012
ROM0011 11 12 1 3540.0 May 31 2012
ROM0011 12 13 1 137.0 May 31 2012
WEIGHTED AVERAGE 7 13 6 616.7
ROM0011 87 88 1 9.7 May 31 2012
ROM0011 97 98 1 0.5 here
ROM0011 114.5 115.5 1 0.8 here
ROM0012 17.8 18.8 1 6.3 May 31 2012
ROM0013 36.6 37.6 1 0.6 here
ROM0015 14.0 15.0 1 2.5 July 10 2012
ROM0015 44.0 45.0 1 114.5 July 10 2012
ROM0017 15.0 16.0 1 0.9 July 10 2012
ROM0017 23.0 24.0 1 6.6 July 10 2012
ROM0018 9.0 10.0 1 0.6 July 10 2012
ROM0022 10.0 11.0 1 0.7 July 10 2012
ROM0022 22.0 23.0 1 0.6 July 10 2012
ROM0022 145.0 146.0 1 1.0 July 10 2012
ROM0034 98 99 1 3.0 here
ROM0037 17 18 1 4.3 here
ROM0037 68 69 1 3.2 here

Table 2: Drill hole collar details of all holes in the completed in the Phase 1 program at Rompas (Finnish Grid KKJ Zone 3, updated and located by Differential GPS).

HOLE ID UTME UTMN RL TOTAL DEPTH (m) DIP TRUE AZIMUTH DRILL AREA
ROM0001 3401495 7373295 167 82.9 -44.3 88.1 SOUTH BLOCK
ROM0002 3401498 7373315 166 100.6 -43.6 77.6 SOUTH BLOCK
ROM0003 3401488 7373275 167 109.6 -43.8 76.5 SOUTH BLOCK
ROM0004 3401483 7373255 167 103.7 -43.6 83 SOUTH BLOCK
ROM0005 3401455 7373293 162 82.76 -43.6 82 SOUTH BLOCK
ROM0006 3401460 7373316 162 85.4 -43.4 88 SOUTH BLOCK
ROM0007 3401444 7373255 162 109.8 -44.3 90 SOUTH BLOCK
ROM0008 3401395 7373254 158 106.6 -43.1 83 SOUTH BLOCK
ROM0009 3401366 7373766 191 86.05 -44.7 80 NORTH BLOCK
ROM0010 3401323 7373759 191 93.1 -44.9 79 NORTH BLOCK
ROM0011 3401341 7373794 192 151.4 -45.4 80.3 NORTH BLOCK
ROM0012 3401333 7373815 190 100.55 -44.4 76.6 NORTH BLOCK
ROM0013 3401392 7373771 189 75.4 -44.8 268 NORTH BLOCK
ROM0014 3401308 7373788 190 161.8 -44.6 81 NORTH BLOCK
ROM0015 3401308 7373756 190 97 -44.5 266.1 NORTH BLOCK
ROM0016 3401345 7373254 154 91.6 -45 89 SOUTH BLOCK
ROM0017 3401302 7373757 190 62.4 -60.0 82.5 NORTH BLOCK
ROM0018 3401320 7373717 188 131.95 -44.8 242.3 NORTH BLOCK
ROM0019 3401295 7373254 152 98.2 -45 91 SOUTH BLOCK
ROM0020 3401331 7373686 186 135 -44.7 263.1 NORTH BLOCK
ROM0021 3401244 7373254 152 93.9 -44.3 79 SOUTH BLOCK
ROM0022 3401381 7373739 189 181.1 -44.7 256 NORTH BLOCK
ROM0023 3401200 7373257 151 95.3 -44.2 87 SOUTH BLOCK
ROM0024 3401156 7373257 150 87.95 -44.1 93 SOUTH BLOCK
ROM0025 3401354 7373851 189 115.5 -45.3 261 NORTH BLOCK
ROM0026 3401098 7373269 151 106.6 -49.3 91 SOUTH BLOCK
ROM0027 3401263 7373295 152 84.95 -49.2 88 SOUTH BLOCK
ROM0028 3401375 7373807 191 172 -45.3 260 SOUTH BLOCK
ROM0029 3401447 7373219 162 89.1 -45.2 83.6 SOUTH BLOCK
ROM0030 3401465 7373176 163 95 -44.2 88 SOUTH BLOCK
ROM0031 3401510 7373173 166 91.9 -45 85 SOUTH BLOCK
ROM0032 3401477 7373124 164 100.8 -44.8 78 SOUTH BLOCK
ROM0033 3401483 7373076 164 95.2 -44.4 77.2 SOUTH BLOCK
ROM0034 3401433 7373079 161 152.7 -44.5 73.3 SOUTH BLOCK
ROM0035 3401335 7373686 186 98 -44.4 79 NORTH BLOCK
ROM0036 3401334 7373686 186 102 -69.8 77.4 NORTH BLOCK
ROM0037 3401350 7373779 191 92.3 -49.7 77.5 NORTH BLOCK
ROM0038 3401539 7373293 171 143 -44.6 87.6 SOUTH BLOCK
ROM0039 3401612 7373293 169 124.7 -45 81.5 SOUTH BLOCK

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