2013 News Releases

April 03, 2013

Mawson Drills 0.5 Metres at 148 g/t Gold Uncut at South Rompas, Finland

60 Second Press Release

Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MXR, PINKSHEETS- MWSNF announces the second batch of drill results from the 2013 winter drilling program at the North Rompas, South Rompas and North Rajapalot prospects in Finland. Results from the remaining 29 holes of a 51 diamond drill hole program are reported below. The best intersection returned is 0.5 metres at 148 g/t gold and 0.42% U3O8 from 16.5 metres depth in drill hole ROM0074 at South Rompas.

Key points:

  • Highlight results are 0.5 metres at 148 g/t gold and 0.42% U3O8 from 16.5 metres in drill hole ROM0074 and 1.4 metres at 17.6 g/t gold and 0.03% U3O8 from 5.8 metres in drill hole ROM0079 from South Rompas (Figures 1 and 2);
  • At South Rompas, drilling has clearly defined a gold-mineralized envelope;
  • At Rajapalot, drilling has intersected broad low-grade gold zone, 8 kilometres east of the Rompas trend;
  • In total 51 drill holes have been completed this winter at Rompas-Rajapalot, with 29 drill holes for 2,462 metres drilled at North Rompas; 14 holes for 753 metres at South Rompas and 8 holes for 762 metres at North Rajapalot (Figure 1).

Mr. Michael Hudson, President & CEO, states, "The majority of the new results presented here, which include 0.5 metres at 148 g/t gold at a shallow depth are from South Rompas (Figure 2), where the vein-style gold mineralization is shaping up. Notably, 9 of the 14 drill holes at South Rompas intersected gold bearing structures. Bulk testing is now required to estimate the true grade of the gold which varies from bonanza grades to lower grades over short intervals. It is also encouraging to see gold discovered in this program on lower priority geophysical targets at Rajapalot, 8 kilometres to the east of Rompas.

As previously discussed, a further 80% of highest priority targets on the Rompas-Rajapalot project remain within areas where the Company is not yet permitted to drill. This includes the extensive disseminated style mineralization discovered in 2012 at Rajapalot. Although Mawson holds the mineral rights within these areas, drilling is not permitted until the Company submits its environmental program and a modified claim decision is granted by the Finnish authorities. It remains critical to the development of the Rompas-Rajapalot project that we work in conjunction with the Finnish authorities to gain drilling access to our best exploration targets in the shortest possible timeframes."

Eight drill holes from North Rompas are reported, namely holes ROM0061 to ROM0068 (Figure 3). Holes ROM0061 -- ROM0063 were drilled on wider cross sections at 100-200 metres spacing while holes ROM0064 to ROM0068 were drilled on 40-50 metre spaced crossed sections (Table 2). Fourteen drill holes are reported from South Rompas, namely holes ROM0069 to ROM0082 (Figure 2). These holes were drilled on 10-15 metre spaced crossed sections (Table 2). Eight drill holes are reported from North Rajapalot, namely holes PAL001 to PAL007 (Figure 1).

Drilling at North Rajapalot encountered low grade mineralization, as evidenced in PAL0003 and PAL0003B which respectively intersected 2.5 metres at 0.3 g/t Au and 3.1 metres at 0.4 g/t Au. Although sub- economic, this additional information will help understand the controls and distribution of gold mineralization in this virgin area, located 8 kilometers east of Rompas (Figure 1).

At Rompas, the highest grade gold mineralization occurs in individual structures which may have a small horizontal footprint, perhaps less than the current drill spacing, within the much larger mineralized envelope. To date, drilling has not defined the scale, orientation or the continuity of the high grade gold within the broader mineralized envelope. The true thicknesses of the high grade structures remain unknown. However, down hole radiometric measurements are a good proxy for gold mineralization, and indicate that there are continuous zones of higher radioactivity with variable grades of gold mineralized structures, which now need to be tested via bulk sampling.

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-Rajapalot 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
Mariana Bermudez/Donna Werbes +1 (604) 685 9316
Seema Sindwani +1 647-478-3017
Email: info@mawsonresources.com

Technical Background

Samples were transported by Mawson personnel from site to ALS Chemex Ltd's laboratory in Piteå, Sweden or Sevillle, Spain 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 drilling was undertaken by ADC Arctic Drilling Company Ltd Oy of Finland who provided HQ diameter core. Drill recoveries are excellent and average close to 100% in fresh rock. After photographing and logging, core intervals averaging 0.7 metres in length were cut in half at the Geological Survey of Finland core facilities in Rovaniemi, Finland. These half core one metre samples weigh less than three kilograms. The samples were then transported by Mawson personnel to ALS Chemex Ltd's laboratory in Piteå, Sweden (or Seville, Spain) 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 <100µm in diameter. The qualified person for Mawson's Finnish projects, Mr Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.

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: Best Results from drill holes ROM0061-ROM0068 (North Rompas) ROM0069-ROM0082 (South Rompas) and PAL0001-PAL0007 (North Rajapalot) (lower cut 0.5 g/t gold or 100ppm U308)
Drill holes ROM0060, 61, 62, 63, 64, 66, 69, 75 and PAL0001-007 did not contain results above the lower cut.

HoleID Depth From (m) Depth To (m) Interval (m) Au ppm U308 ppm Location
ROM0074 16.5 17.0 0.5 148.0 4162 South Rompas
ROM0079 5.8 7.2 1.4 17.6 270 South Rompas
ROM0080 32 33.4 1.4 9.2 20 South Rompas
ROM0081 41.3 42.5 1.2 7.7 267 South Rompas
ROM0078 55.4 56.1 0.7 3.1 215 South Rompas
ROM0073 0.55 1.4 0.85 0.8 33 South Rompas
ROM0073 4.2 5.6 1.4 1.3 14 South Rompas
ROM0068 30.3 31 0.7 2.5 1403 North Rompas
ROM0071 16 17.4 1.4 0.9 27 South Rompas
ROM0071 25.8 27.2 1.4 1.2 2 South Rompas
ROM0072 18.7 20.1 1.4 0.8 19 South Rompas
ROM0072 41.8 42.5 0.7 2.3 118 South Rompas
ROM0070 17.7 18.2 0.5 1.9 104 South Rompas
ROM0076 41.4 41.9 0.5 0.4 120 South Rompas
ROM0077 31.9 32.4 0.5 0.2 219 South Rompas
ROM0077 10.3 10.8 0.5 0.1 672 South Rompas
ROM0065 77.8 78.4 0.6 0.1 310 North Rompas
ROM0067 20.2 20.7 0.5 0.0 136 North Rompas
ROM0067 52.9 53.6 0.7 0.0 171 North Rompas


Table 2: Drillhole collar details from this news release (Finnish Grid KKJ Zone 3, located by GPS)

Hole ID Easting Northing RL Total Depth (m) Dip Azimuth
PAL0001 3408918 7374484 175.5 110.95 -45 135
PAL0002 3408911 7374426 175.5 98.75 -46 135
PAL0003 3409829 7374326 176.78 14.05 -45 150
PAL0003B 3409828 7374328 176.78 160.5 -45 150
PAL0004 3409940 7374270 176.5 121.5 -45 150
PAL0005 3409940 7374356 176.4 51.55 -45 150
PAL0006 3409973 7374302 174.4 95.5 -44 150
PAL0007 3411292 7374694 175 104.3 -45 150
ROM0060 3399290 7378459 105.85 81.1 -46 57
ROM0061 3399298 7378550 104.68 98 -46 58
ROM0062 3399298 7378550 104.57 88.8 -45 59
ROM0063 3399274 7378718 102.98 94.8 -45 57
ROM0064 3399353 7378386 109.47 101.2 -45 60
ROM0065 3399328 7378343 106.9 103.7 -45 57
ROM0066 3399287 7378313 105 100.3 -46 57
ROM0067 3399367 7378365 110.7 103.6 -46 57
ROM0068 3399351 7378300 106.72 60.5 -45 57
ROM0069 3401331 7373814 189.04 71.35 -65 77
ROM0070 3401351 7373819 189.6 59.7 -50 257
ROM0071 3401340 737393.4 190.4 37.2 -55 80
ROM0072 3401340 7373793 190.36 50.2 -68 80
ROM0073 3401359 7373797 190.87 25.8 -45 260
ROM0074 3401359 7373797 190.9 38.1 -66 260
ROM0075 3401371 7373772 190.82 44.8 -64 260
ROM0076 3401371 7373772 190.84 53.3 -46 260
ROM0077 3401367 7373783 190.25 41.3 -45 260
ROM0078 3401379 7373785 190 65.1 -50 260
ROM0079 3401358 7373811 189.9 53.35 -45 260
ROM0080 3401366 7373813 190.19 58.6 -45 260
ROM0081 3401366 7373813 190.19 62.9 -60 260
ROM0082 3401375 7373837 189.49 92.5 -59 260