2015 News Releases

March 16, 2015

Mawson Extends Palokas Gold Prospect, Finland

Vancouver, Canada -- Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the results of recently completed 3D induced polarization "IP" and shallow diamond drilling programs and outlines upcoming work plans for the Palokas prospect in Lapland, Arctic Finland.

Key Points:

  • A 600 metre long conductive anomaly (Figures 1 and 2) has been defined by a pseudo-3D pole-dipole IP and resistivity survey at Palokas Prospect extending down plunge from drilled near-surface gold mineralization (ie 19.5 metres @ 7.4 g/t gold from 1.3 metres depth (see Mawson Press Releases October 03, 2013, October 16, 2013 and January 20, 2014);
  • The thickness of the conductive body increases with depth and is open below the 250 metre investigative depth of the survey;
  • Final results from near-surface investigative drilling has returned results including 0.3m @ 49.6 g/t Au from 17.7 metres in drillhole PRAJ0097 located 1000 metres from the Palokas prospect (Figure 3). Results from recent drilling are located above the conductive body defined by the 3D-IP program;
  • The Company has purchased and will take delivery this week, of a hand portable Winkie diamond drill to extend its drill depth capacity from 40 metres down to 120 metres. Drilling with the Winkie rig, which remains subject to final permitting, is planned to commence at Palokas in April, to test below known gold mineralization.

Mr Michael Hudson, President & CEO states, "The geophysical results reported present a compelling target down plunge from known mineralization at the Palokas gold project. Our new hand portable rig with extra depth capacity will advance our understanding of the 1.2km long Palokas mineralized system below the 30 metres depth we have tested to date. Subject to final permitting, we will start drilling in April."

The IP area surveyed commenced more than 250 metres north of Palokas to 500 metres south of the Palokas prospect. Gold at Palokas is associated with pyrrhotite which forms the conductive and chargeable anomaly associated with drilled gold mineralization and has been confirmed by petrophysics. The thickness of the conductive body increases with depth and is open below the 250 metre investigative depth of the survey. The body plunges south and has little or no surface expression where recent near-surface drilling has provided near-miss and thinner mineralized gold hits.

The recently completed hand portable drill program consisted of 33 holes for 1160.5 metres with an average hole depth of 35.1 metres. Four additional holes did not drill through to basement. The final ten drill holes are reported here and shown in Tables 1 and 2. The best results from the final ten holes include 0.3m @ 49.6 g/t Au from 17.65m in PRAJ0097, 1.15m @ 1.49 g/t Au from 8.3m in PRAJ0099 and 2.2m @ 1.73 g/t Au from 18.75m in PRAJ0105. These results are considered to form up dip from gold mineralization and represent near miss signatures. This is supported by the recent 3D IP geophysical survey.

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

Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rompas and Rajapalot gold projects in Finland.

Technical Background

The core sampling was undertaken by Mawson Staff who provided EW (25.2 mm) diameter core. Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging, core intervals averaging 1 metre in length were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. These half-core one metre samples weigh less than 0.7 kilograms. The remaining half core is retained on site for verification and reference purposes. Analytical samples were transported either commercial transport, or by Mawson personnel from site to ALS Chemex Ltd's laboratory in PiteƄ, Sweden. Samples were prepared at PiteƄ and sent to ALS Chemex Ltd's laboratory in Vancouver, Canada to be analyzed by Au-ICP21, GRA-21, ME-MS41u 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 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.

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
Seema Sindwani +1 647-478-3017
Mariana Bermudez +1 604-685-9316
Email: info@mawsonresources.com

Forward Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, including statements regarding anticipated exploration activities and the intended financing are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, equipment failure, unexpected geological conditions, permitting, operational delays, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.


Figure 1: 3D IP resistivity Shells (2.0 to 2.5 (log[Ohm-m]) from Palokas to South Palokas showing 600 metre strike length low resistive/conductor. Conductor correlates with drilling at Palokas and plunges below drilling at South Palokas.



Figure 2: Longitudinal section showing apparent resistivity from Palokas to South Palokas showing 600 metre strike length low resistive/conductor. Conductor correlates with drilling at Palokas and plunges below drilling at South Palokas.



Figure 3: Rajapalot Gold Project, Palokas Prospect: Update on hand-portable drill results 15:3:2015.


Table 1: Collar Information from the hand portable, low impact drill rig from the Palokas Prospect, Rajapalot, Finland.

HoleID Easting Northing Total Depth (m) Dip Azimuth Date Reported
PRAJ0070 3408517 7373548 33.4 -60 115 October 07, 2014
PRAJ0071 3408506 7373549 43.2 -60 115 October 07, 2014
PRAJ0072 3408528 7373536 27.55 -60 115 October 07, 2014
PRAJ0073 3408542 7373530 15.8 -60 115 October 07, 2014
PRAJ0074 3408493 7373506 26.55 -60 155 October 07, 2014
PRAJ0075 3408486 7373517 28.27 -82 155 October 07, 2014
PRAJ0076 3408156 7372824 33.45 -60 59 October 07, 2014
PRAJ0077 3408168 7372831 35 -60 60 December 16, 2014
PRAJ0078 3408173 7372822 21.05 -60 115 December 16, 2014
PRAJ0079 3408160 7372818 23 -60 90 December 16, 2014
PRAJ0080 3408261 7372792 40.4 -60 115 December 16, 2014
PRAJ0081 3408241 7372787 41.4 -60 115 December 16, 2014
PRAJ0082 3408268 7372777 40.75 -60 115 December 16, 2014
PRAJ0083 3408314 7372378 33.2 -60 115 December 16, 2014
PRAJ0084 3408233 7372360 15.2 -60 115 December 16, 2014
PRAJ0085 3408389 7372277 43.4 -60 60 December 16, 2014
PRAJ0086 3408452 7372339 32.55 -60 20 December 16, 2014
PRAJ0087 3408852 7372282 8.85 -60 115 DID NOT REACH BASEMENT
PRAJ0088 3408815 7372268 4.95 -60 115 DID NOT REACH BASEMENT
PRAJ0089 3408815 7372268 5.7 -80 115 DID NOT REACH BASEMENT
PRAJ0090 3408818 7372227 43.34 -60 90 Here
PRAJ0091 3408840 7372188 37.4 -60 115 December 16, 2014
PRAJ0092 3408145 7373053 35.46 -60 115 December 16, 2014
PRAJ0093 3408131 7373059 40.95 -60 115 December 16, 2014
PRAJ0094 3408127 7373079 36.64 -60 180 Here
PRAJ0095 3408255 7373122 8.4 -60 135 DID NOT REACH BASEMENT
PRAJ0096 3408116 7372969 31.4 -60 115 December 16, 2014
PRAJ0097 3408107 7372978 37.35 -60 170 Here
PRAJ0098 3408442 7373471 27.65 -60 160 Here
PRAJ0099 3408435 7373485 34.95 -60 160 Here
PRAJ0100 3408427 7373499 31 -60 160 Here
PRAJ0101 3408419 7373516 48 -60 160 Here
PRAJ0102 3408415 7373536 48.05 -60 160 Here
PRAJ0103 3408401 7373553 49.7 -60 160 Here
PRAJ0104 3408466 7373511 32.2 -60 115 Here
PRAJ0105 3408447 7373519 46.55 -60 115 Here
PRAJ0106 3408430 7373528 45.7 -60 115 Here


Table 2: Assay data from the hand portable, low impact drill rig from the Palokas Prospect, Rajapalot, Finland.
A lower cut of 0.5 g/t over 1 metre was applied.

HOLE ID Summary Result Comment Date Reported
PRAJ0070 2m @ 9.1 g/t Au from 25.4m 28 Oct 2014
PRAJ0071 1.75m @ 1 g/t Au from 34.7m 28 Oct 2014
PRAJ0072 1.0m @ 14.8 g/t Au from 16.3m 28 Oct 2014
PRAJ0073 3.0m @ 5.1 g/t Au from 8.65m 28 Oct 2014
PRAJ0073 1.0m @ 0.5 g/t Au from 12.75m 28 Oct 2014
PRAJ0075 3.0m @ 2.8 g/t Au from 14.4m 28 Oct 2014
PRAJ0075 1.0m @ 0.5 g/t Au from 20.95m 28 Oct 2014
PRAJ0075 1.0m @ 1.3 g/t Au from 22.95m Stopped in mineralization 28 Oct 2014
PRAJ0076 3.9m @ 3.2 g/t Au from 23m Visible gold at 24.2m December 16, 2014
PRAJ0080 1.0m @ 1.3 g/t Au from 10m December 16, 2014
PRAJ0080 3.4m @ 2 g/t Au from 14m December 16, 2014
PRAJ0080 3.0m @ 1.4 g/t Au from 35.9m Stopped in mineralization December 16, 2014
PRAJ0081 1.0m @ 0.6 g/t Au from 2.65m December 16, 2014
PRAJ0081 0.9m @ 1.8 g/t Au from 21.55m December 16, 2014
PRAJ0082 1.0m @ 0.8 g/t Au from 5m December 16, 2014
PRAJ0082 1.0m @ 0.7 g/t Au from 9m December 16, 2014
PRAJ0082 1.0m @ 0.5 g/t Au from 21.2m December 16, 2014
PRAJ0096 1.1m @ 1.5 g/t Au from 17.5m December 16, 2014
PRAJ0096 0.4m @ 3 g/t Au from 20.9m December 16, 2014
PRAJ0097 0.3m @ 49.6 g/t Au from 17.65m Here
PRAJ0099 0.9m @ 0.69 g/t Au from 6.5m Here
PRAJ0099 1.2m @ 1.49 g/t Au from 8.3m Here
PRAJ0099 0.4m @ 0.75 g/t Au from 11.35m Here
PRAJ0099 0.8m @ 0.73 g/t Au from 19.55m Here
PRAJ0100 0.9m @ 1.06 g/t Au from 21.75m Here
PRAJ0101 0.8m @ 0.78 g/t Au from 33.75m Here
PRAJ0104 1.2m @ 1.41 g/t Au from 4.5m Here
PRAJ0104 1.0m @ 1.1 g/t Au from 7.5m Here
PRAJ0105 2.2m @ 1.73 g/t Au from 18.75m Here
PRAJ0106 2.0m @ 0.99 g/t Au from 13.15m Here
PRAJ0106 1.1m @ 1.54 g/t Au from 35.95 Here