2017 News Releases

April 06, 2017

Mawson Drills 13.7 Metres at 2.0 g/t Gold at Rajapalot, Finland

Vancouver, Canada – Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces drill results from thirteen diamond drill holes from the 2017 winter program at the Company’s 100% owned Rajapalot Project in Northern Finland. With these results, the mineralized zone has been significantly extended, with gold mineralization discovered on the western, southern and eastern margins of the previous mineralization footprint. Four drill rigs continue to drill 24/7.

Key Points:

  • PAL0048, drilled 1.75 km southeast of Palokas intersected:
    • 6.0 metres @ 2.0 g/t gold from 53 metres and 13.7 metres @ 2.0 g/t gold from 82 metres;
    • Mineralized zone without a lower cut off comprises 42.7 metres @ 1.0 g/t gold from 53.0 metres in magnetite, pyrrhotite, biotite and chlorite altered rocks;
    • PAL0048 is the most easterly hole drilled at Rajapalot to date and mineralization remains open;
  • PAL0043, drilled 1.5 km southwest of Palokas and 1.1 km west of PAL0048 intersected:
    • 12.0 metres @ 1.2 g/t gold from 10.6 metres;
    • This hole targeted a VTEM anomaly and is the westernmost hole reported from Rajapalot to date, which opens a new area of exploration potential to the west;
  • PAL0040, drilled 450 metres southeast of PAL0043 and 75 metres south west of PAL0037 (56 metres @ 0.53 g/t gold from 33 metres Mawson Press Release March 06, 2017) intersected:
    • 5.0 metres @ 1.2 g/t gold from 37.3 metres;
    • This is the southernmost drill hole at Rajapalot, opening a new area of exploration potential to the south;
  • Forty-two holes (PAL0027-PAL0069) have been completed to date, totalling 8,721 metres of diamond drill core. With this release, assay results from a total of 19 holes have been reported, while results are pending for an additional 23 completed holes. A further 10 diamond drill holes are planned to be drilled before the completion of the winter program.

Mr. Hudson, Chairman and CEO, states, "The bold exploration approach taken by Mawson during the 2017 winter program is now paying dividends. By stepping out to previously known the limits of the mineralized system at Rajapalot, the gold mineralized footprint has been significantly expanded and demonstrated to be open on the western, southern and eastern margins. In combination with the significant hydrothermal alteration observed in all holes, it is clear a large mineralized system exists at Rajapalot. With less than 50% of assays received from holes drilled to date, and four rigs still drilling 24/7, we look forward to further news flow."

A plan view of the drill results is provided in Figure 1. Tables 1, 2 and 3 include all relevant collar and assay information. The true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness.

These drill results support the discovery of a new style of gold-bearing system at South Rajapalot, as described in Mawson Press Release March 06, 2017. Mineralization is characterized by an extensive area of potassic-iron-sulphide alteration located up to 1,800m south of the Palokas prospect. Drilling has defined a zone that now extends for 1,200m along strike and 400m in width that remains open.

Gold-anomalous alteration has been drilled to date over a 1,200 m x 400 m area in South Rajapalot. It consists of sulphide, magnetite, biotite and chlorite hydrothermal mineral assemblages hosted in predominately grey albitites. Textures range from veined albitic granofels through fractured and brecciated to locally schistose. Veining and fracture fill minerals include magnetite, pyrrhotite and magnetite-pyrrhotite (+/- quartz). Local retrograde chlorite after biotite and vein-controlled chlorite+/- tourmaline and magnetite are also present. Preliminary hand-held XRF analysis confirms the presence of associated scheelite and molybdenite, the former visible under UV light as tiny veinlets and disseminations. The iron-rich nature of the mineralized rocks is a common theme in either the oxide or sulphide form, with a variably sulphidic and chloritic overprint. The alteration is clearly post-metamorphic, reduced, and most likely driven by granitoid intrusions. Chlorite is regarded as the lowest temperature silicate mineral with gold, structurally controlled in apparent association with quartz veins. Altered rocks enclosing the mineralized package contain locally abundant talc and tourmaline.

Technical and Environmental Background

Two diamond drill rigs (K1 & K2) from the Arctic Drilling Company OY (ADC) with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.6 mm) diameter core. Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging in Mawson’s Rovaniemi facilities, core intervals averaging 1 metre for mineralized samples and 2 m for barren samples were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples were transported by Mawson personnel or commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared at Kempele and analyzed for gold at Raahe using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical process.

The qualified person for Mawson's Finnish projects, Dr. Nick Cook, President for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.

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

Mawson Resources Limitedis 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.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, CEO
Further Information
www.mawsonresources.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary
+1 (604) 685 9316, 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, 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, changes in world metal markets, changes in equity markets, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, 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.

Table 1: Collar Information from 2017 Winter drilling at the Palokas Prospect

HoleID East North Azimuth Dip RL Depth (m) Comment
PAL0027 3408668 7373860 116 60 175 301.6 Feb 21, 2017
PAL0028 3408723 7373889 116 60 175 92.3 Feb 21, 2017
PAL0029 3408629 7373987 116 60 175 209.3 Feb 21, 2017
PAL0030 3408608 7373943 116 60 174 194.8 Feb 21, 2017
PAL0031 3408701 7373954 116 60 174 131 Mar 06, 2017
PAL0032 3408800 7374095 116 60 175 174.2 Mar 06, 2017
PAL0033 3408125 7373140 150 60 173 215.8 Mar 06, 2017
PAL0034 3408167 7373072 150 60 176 143.55 Reported here
PAL0035 3408095 7372898 135 60 176 191.8 Reported here
PAL0036 3408122 7372856 135 60 175 115.05 Reported here
PAL0037 3408008 7372395 116 60 177 244.3 Mar 06, 2017
PAL0038 3407903 7372442 116 60 177 300.5 Reported here
PAL0039 3408010 7372472 116 50 177 248.8 Reported here
PAL0040 3407938 7372359 116 50 177 200.1 Reported here
PAL0041 3407936 7372539 116 50 174 341.35 Reported here
PAL0042 3407841 7372408 116 50 173 257.15 Results Awaited
PAL0043 3407843 7372798 116 60 176 339 Reported here
PAL0044 3407645 7372424 90 50 173 250.6 Results Awaited
PAL0045 3407533 7372698 116 50 173 352.1 Reported here
PAL0046 3408153 7372322 135 60 179 108.05 Reported here
PAL0047 3410582 7373349 150 50 161 100.3 Results Awaited
PAL0048 3408815 7372268 90 50 173 188.2 Reported here
PAL0049 3408269 7372635 180 60 177 254.9 Results Awaited
PAL0050 3410618 7373308 150 50 161 103.5 Results Awaited
PAL0051 3408810 7372200 90 50 173 153.85 Results Awaited
PAL0052 3410568 7373393 150 50 161 100.2 Results Awaited
PAL0053 3408283 7372532 180 60 177 260.8 Results Awaited
PAL0054 3410651 7373254 150 50 163 154.5 Results Awaited
PAL0055 3408380 7372320 150 50 176 190.7 Results Awaited
PAL0056 3408708 7372201 90 50 174 268.15 Results Awaited
PAL0057 3410688 7373202 150 50 166 147 Results Awaited
PAL0058 3408712 7372254 90 50 174 258.25 Results Awaited
PAL0059 3408092 7372458 150 60 178 157 Results Awaited
PAL0060 3410986 7371862 70 50 138 153 Results Awaited
PAL0061 3409765 7372753 150 60 161 259.7 Results Awaited
PAL0062 3408753 7372465 155 60 177 237 Results Awaited
PAL0063 3407948 7372718 116 60 174 173.9 Results Awaited
PAL0064 3411066 7371882 70 50 139 120 Results Awaited
PAL0065 3410951 7371899 70 50 138 97.5 Results Awaited
PAL0066 3408970 7372540 160 60 174 252.2 Results Awaited
PAL0067 3410020 7373122 135 60 162 203 Results Awaited
PAL0068 3409009 7372420 160 60 172 255.7 Results Awaited
PAL0069 3408447 7373350 116 60 172 220 Results Awaited

Table 2: Better intersections from the 2017 Winter Drill Program reported. 0.5g/t Au over 1m lower cut (unless stated), no upper cut-off

*0.5g/t Au over 2m lower cut

Hole ID Depth From (m) Depth To (m) Width (m) Au g/t Date Reported
PAL0027 27.46 31.01 3.6 2.5 Feb 21, 2017
PAL0027 34.41 41.21 6.8 14.7 Feb 21, 2017
PAL0027 44.20 47.20 3.0 3.2 Feb 21, 2017
PAL0028 21.70 22.70 1.0 0.8 Feb 21, 2017
PAL0028 37.60 39.25 1.7 3.9 Feb 21, 2017
PAL0029 95.65 96.65 1.0 0.7 Feb 21, 2017
PAL0030 110.20 120.20 10.0 11.6 Feb 21, 2017
PAL0030 135.70 138.60 2.9 1.0 Feb 21, 2017
PAL0030 143.85 146.85 3.0 5.3 Feb 21, 2017
PAL0031 85.4 86.4 1.0 1.5 Mar 06, 2017
PAL0032 No significant results Mar 06, 2017
PAL0033 152.5 154.7 2.2 7.7 Mar 06, 2017
PAL0034 No significant results Reported here
PAL0035 No significant results Reported here
PAL0036 No significant results Reported here
PAL0037 33 35 2.0 3.6 Mar 06, 2017
PAL0038 No significant results Reported here
PAL0039 112.8 113.1 0.4 2.9 Reported here
PAL0040 37.3 42.3 5.0 1.2 Reported here
PAL0041 179 180 1.0 1.3 Reported here
PAL0041 242.6 243.6 1.0 1.2 Reported here
PAL0043* 10.6 22.6 12.0 1.2 Reported here
PAL0045 No significant results Reported here
PAL0046 No significant results Reported here
PAL0048 53 59 6.0 2.0 Reported here
PAL0048 82 95.7 13.7 2.0 Reported here
No lower cut: 42.7m @ 1.0g/t from 53.0m

Table 3: Individual assay data from drill holes PAL0040, PAL0043 and PAL0048

Hole ID Depth From (m) Depth To (m) Width (m) Au g/t
PAL0040 37.3 38.3 1.0 1.7
PAL0040 38.3 39.3 1.0 1.6
PAL0040 39.3 40.3 1.0 1.8
PAL0040 40.3 41.3 1.0 <0.05
PAL0040 41.31 42.3 1.0 1.1
PAL0043 10.6 11.6 1.0 2.59
PAL0043 11.6 12.6 1.0 3.79
PAL0043 12.6 13.6 1.0 1.31
PAL0043 13.6 14.6 1.0 0.5
PAL0043 14.6 15.6 1.0 0.06
PAL0043 15.6 16.6 1.0 0.06
PAL0043 16.6 17.6 1.0 1.19
PAL0043 17.6 18.6 1.0 0.38
PAL0043 18.6 19.6 1.0 0.08
PAL0043 19.6 20.6 1.0 0.21
PAL0043 20.6 21.6 1.0 3.11
PAL0043 21.6 22.6 1.0 0.81
PAL0048 53 54 1.0 0.50
PAL0048 54 55.1 1.1 3.93
PAL0048 55.1 56 0.9 1.76
PAL0048 56 57 1.0 2.69
PAL0048 57 58 1.0 1.09
PAL0048 58 59 1.0 1.51
PAL0048 59 60 1.0 0.09
PAL0048 60 61 1.0 0.09
PAL0048 61 62 1.0 0.21
PAL0048 62 63 1.0 <0.05
PAL0048 63 64 1.0 <0.05
PAL0048 64 65 1.0 0.17
PAL0048 65 66 1.0 0.12
PAL0048 66 68 2.0 0.35
PAL0048 68 70 2.0 0.06
PAL0048 70 71 1.0 <0.05
PAL0048 71 72 1.0 <0.05
PAL0048 72 73 1.0 <0.05
PAL0048 73 74 1.0 <0.05
PAL0048 74 75 1.0 <0.05
PAL0048 75 76 1.0 <0.05
PAL0048 76 77 1.0 <0.05
PAL0048 77 78 1.0 <0.05
PAL0048 78 79 1.0 <0.05
PAL0048 79 80 1.0 <0.05
PAL0048 80 81 1.0 0.05
PAL0048 81 82 1.0 <0.05
PAL0048 82 84 2.0 0.49
PAL0048 84 86 2.0 0.61
PAL0048 86 86.8 0.8 1.59
PAL0048 86.8 87.82 1.0 1.66
PAL0048 87.8 88.5 0.7 3.74
PAL0048 88.5 89.2 0.7 0.61
PAL0048 89.2 90.2 1.0 6.34
PAL0048 90.2 91.2 1.0 3.88
PAL0048 91.2 92.3 1.1 0.05
PAL0048 92.3 93.3 1.0 5.59
PAL0048 93.3 94.3 1.0 0.84
PAL0048 94.3 95 0.7 1.72
PAL0048 95 95.7 0.7 2.79