$0.210
TSX:MAW
$0.119
FSE:MXR
$0.184
PK:MWSNF

2018 News Releases

Mawson Drills 4.0 Metres @ 17.7 g/t Gold At The Raja Prospect

Vancouver, Canada — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX: MAW) (Frankfurt: MXR) (PINKSHEETS: MWSNF) announces results from five new drill holes at the Company’s 100% owned Rajapalot gold-cobalt project in Northern Finland. Holes are reported from three prospect areas and all intersected gold mineralization.

Key Points:

  • The best result reported is PAL0092 which intersected 4.0 metres @ 17.7 g/t gold from 246 metres (Figures 1-4) at the Raja prospect. Cobalt assays are awaited (see Mawson New Release May 14, 2018);
  • PAL0092 was drilled 45 metres west of drill hole PAL0093 which intersected 31.7 metres @ 8.4 g/t gold from 244.1 metres (see Mawson News Release March 01, 2018 and Figures 1-4) showing significant encouragement for the continuity of high-grade gold mineralization at Raja;
  • PAL0116, drilled up-plunge from PAL0092 and PAL0093, intersected 5.0 metres @ 3.3 g/t gold from 144.0 metres and 2 metres @ 3.6 g/t gold from 154.0 metres. Cobalt assays are awaited;
  • PAL00116 was drilled 50 metres east of PAL0085 which intersected 9.9 metres @ 4.1 g/t gold from 124.0 metres (see Mawson News Release March 01, 2018);
  • Over 470 metres of down plunge continuity of high grade gold-cobalt mineralization has now been demonstrated at the Raja prospect alone, with mineralization remaining unconstrained down-plunge and partly across strike. Gold-cobalt mineralization is associated with sufficient sulphide to form an electrical conductor, and interpretation of VTEM geophysical data indicates potential down-plunge extent from surface for greater than 900 metres;
  • To date, only 3 from 16 drill holes at Raja have been assayed for cobalt, including PAL0075, drilled up-plunge from PAL0116 and PAL0085, which intersected 10.8 metres @ 1,299 ppm Co, 6.2 g/t Au (8.7 g/t AuEq) from 8.7 metres (see Mawson News Release May 14, 2018). A systematic cobalt assay program of approximately 3,000 Rajapalot samples continues with further assays to be reported in the coming months.
  • The winter diamond drill program totalled 16,204 metres in 75 drill holes across four exploration permit areas. Including those published here, assays from 28 drill holes have been released from Rajapalot and East Rompas. A further 47 drill holes are currently being logged and assayed.
  • Diamond drilling is planned to restart during August 2018 at Hirvimaa and Männistö exploration permit areas.

Mr. Hudson, Chairman and CEO, states, "Our Raja prospect, which is one of many prospect areas, continues to deliver. High-grade gold has again been intersected at Raja and drilled down plunge for greater than 450 metres with a width exceeding 100 metres. The continuity and predictability of high-grade mineralization is encouraging, with 4.0 metres @ 17.7 g/t gold in PAL0092, 5.0 metres @ 12.4 g/t in PAL0118 and 31.7 metres @ 8.4 g/t gold in PAL0093 all recently drilled. With cobalt assays outstanding from these drill holes, and thousands of gold and cobalt assays still in the laboratory, we look forward to announcing data as they become available.”

This release provides results from 5 drill holes: PAL0092 (Raja), PAL0104 (Raja), PAL0115 (Rumajärvi), PAL0116 (Raja) and PAL0122 (South Palokas).Drill holes not reported above (PAL0104, PAL0115 and PAL0122) also intersected anomalous gold mineralization and assay results are provided in Tables 2 and 3. A plan view of the drill results and named prospects is provided in Figure 1. Cross and long section views and a prospect plan are included as Figures 2–4. Tables 1–3 include all relevant collar and assay information. Assuming a predominant stratabound control, true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Intersections are reported with a lower cut of 0.5 g/t gold over 1 metre lower cut, no upper cut-off was applied.

In other news, a pilot hyperspectral study of 832 metres of drill core (PAL0092, PAL0093 and PAL0097) is in progress using the TerraCore SisuRock Gen 2 system (3 cameras). This study aims to understand the relationship between high-grade gold and hydrothermal silicate alteration, in particular, hydrous silicates, muscovite, biotite and amphiboles.

Technical and Environmental Background

Five diamond drill rigs from the Arctic Drilling Company OY (“ADC”), Oy Kati Ab (“Kati”) and MK Core Drilling OY (“MK”), all with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.7 mm) or WL76 (57.5mm) 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 metres 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 and analyzed for gold at Kempele 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 a 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, Chairman & 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, 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 2018 Winter drilling at the Rajapalot Project (Finnish Grid, Projection KKJ2003)

HoleID

East

North

Azimuth

Dip

RL

Depth (m)

Prospect

Reported

PAL0083

3408879.4

7372218.7

60

60

172.1

101.7

Raja

Results Awaited

PAL0084

3408480.4

7373564.5

116

65

175.0

191.2

South Palokas

Results Awaited

PAL0085

3408764.2

7372323.9

60

70

173.5

215.7

Raja

Mar 01, 2018

PAL0086

3408742.9

7373932.4

116

60

175.0

135.0

Palokas

Results Awaited

PAL0087

3408764.2

7372324.0

60

50

172.0

241.7

Raja

Mar 01, 2018

PAL0088

3408764.2

7372323.9

60

88

173.5

221.5

Raja

Here

PAL0089

3408438.4

7373589.0

155

60

176.4

169.0

South Palokas

Mar 01, 2018

PAL0090

3408590.7

7374004.3

116

74

175.4

320.3

Palokas

Results Awaited

PAL0091

3408412.0

7373658.1

155

60

176.3

352.8

South Palokas

Mar 01, 2018

PAL0092

3408703.1

7372438.0

60

83

174.8

323.9

Raja

Here

PAL0093

3408703.1

7372438.0

60

75

174.8

329.8

Raja

Mar 01, 2018

PAL0094

3408525.5

7373608.3

116

60

174.2

191.0

South Palokas

Results Awaited

PAL0095

3408590.7

7374004.3

116

88

175.4

370.0

Palokas

Results Awaited

PAL0096

3408590.4

7373662.5

116

60

173.8

131.0

South Palokas

Results Awaited

PAL0097

3408703.1

7372438.0

60

69

174.8

344.7

Raja

April 10, 2018

PAL0098

3408379.1

7373476.6

116

60

173.7

199.9

South Palokas

Results Awaited

PAL0099

3408188.6

7372763.8

110

60

179.7

154.6

Terry’s Hammer

April 10, 2018

PAL00100

3408703.1

7372438.0

60

62

174.8

343.8

Raja

April 10, 2018

PAL00101

3408109.8

7372764.0

105

60

174.0

182.7

Terry’s Hammer

Results Awaited

PAL00102

3408757.7

7374034.7

116

60

176.9

202.7

Palokas

Results Awaited

PAL00103

3408053.3

7372789.4

105

60

173.4

172.9

Terry’s Hammer

Results Awaited

PAL00104

3408703.1

7372438.0

240

88

174.8

326.7

Raja

Here

PAL00105

3407898.2

7372624.5

120

60

173.0

220.9

Rumajärvi

Results Awaited

PAL0106

3408863.7

7373985.4

130

60

175.2

161.1

Palokas

Results Awaited

PAL0107

3408775.6

7372487.6

60

70

176.8

335.1

Raja

Results Awaited

PAL0108

3407960.9

7372405.2

116

60

176.4

226.9

Rumajärvi

Results Awaited

PAL0109

3407962.1

7372405.1

60

50

176.1

289.9

Rumajärvi

April 10, 2018

PAL0110

3408646.1

7373807.1

116

60

174.1

128.2

Palokas

April 10, 2018

PAL0111

3408577.4

7372513.9

60

69

178.3

432.3

Raja

April 10, 2018

PAL0112

3408288.9

7373153.0

180

55

171.8

221.7

Hut

Results Awaited

PAL0113

3408532.9

7374097.2

116

70

174.3

20

Palokas

Results Awaited

PAL0114

3407874.3

7372385.0

116

47

174.7

218.4

Rumajärvi

Results Awaited

PAL0115

3407903.4

7372520.2

123

48

173.4

320.1

Rumajärvi

Here

PAL0116

3408861.0

7372371.6

240

82

173.8

186.7

Raja

Here

PAL0117

3408479.3

7373336.5

116

45

172.4

148.9

South Palokas

Results Awaited

PAL0118

3408577.4

7372513.9

60

62

178.3

445.6

Raja

April 10, 2018

PAL0119

3408915.9

7372341.2

240

88

172.9

178.2

Raja

Results Awaited

PAL0120

3408531.3

7373318.5

116

47

171.7

170.1

South Palokas

Results Awaited

PAL0121

3407986.0

7372584.6

116

50

177.5

249

Rumajärvi

Results Awaited

PAL0122

3408354.0

7373580.0

116

60

174.7

209.6

South Palokas

Here

PAL0123

3407939.0

7372655.0

120

60

173.8

198.45

Rumajärvi

Results Awaited

PAL0124

3408561.5

7372192.0

70

50

173.7

132.6

Raja

Results Awaited

PAL0125

3408577.4

7372513.9

60

56

178.3

112.5

Raja

Results Awaited

PAL0126

3408089.0

7373033.2

90

60

173.7

8.9

Hut

April 10, 2018

PAL0127

3409496.5

7374569.3

142

50

178.7

157.7

Hirvimaa

Results Awaited

PAL0128

3410577.1

7372673.7

35

50

150.5

305.7

Regional

Results Awaited

PAL0129

3409604.1

7372111.5

36

50

151.8

305

Regional

Results Awaited

PAL0130

3409436.6

7374642.8

142

50

179.4

212

Hirvimaa

Results Awaited

PAL0131

3410496.2

7372437.2

125

50

145.9

149.4

Regional

Results Awaited

PAL0132

3409524.4

7371979.3

36

50

163.7

300.1

Regional

Results Awaited

PAL0133

3410334.0

7373237.0

135

50

175.0

167.3

Regional

Results Awaited

PAL0134

3409376.7

7374729.6

142

50

182.4

281.2

Hirvimaa

Results Awaited

PAL0135

3410400.7

7373174.3

135

50

161.5

196.3

Regional

Results Awaited

PAL0136

3409442.3

7371858.5

216

60

165.5

293.3

Regional

Results Awaited

PAL0137

3410477

7373094

135

50

159.6

212

Regional

Results Awaited

PAL0138

3410583

7372990

135

50

156.8

221.2

Regional

Results Awaited

PAL0139

3409645

7374573

142

50

181.4

139.4

Hirvimaa

Results Awaited

PAL0140

3409356

7371737

216

60

159.9

440.5

Regional

Results Awaited

PAL0141

3411012

7372821

135

50

160

143.4

Regional

Results Awaited

PAL0142

3410964

7372857

135

50

163.2

157.3

Regional

Results Awaited

PAL0143

3409600

7374623

142

50

180.8

196.8

Hirvimaa

Results Awaited

PAL0144

3410155

7374828

155

50

179.7

110.5

Hirvimaa

Results Awaited

PAL0145

3412561

7373167

180

60

171.9

450.0

Regional

Results Awaited

PAL0146

3409475

7374738

142

50

181.5

249.9

Hirvimaa

Results Awaited

PAL0147

3410099

7374932

155

50

180.5

203.6

Hirvimaa

Results Awaited


Table 2: Better intersections from the 2018 Winter Drill Program.

Intersections are reported with a lower cut of 0.5g/t gold over 2 metre lower cut, except where indicated by **. No upper cut-off was applied.

Hole ID

Depth From (m)

Depth To (m)

Width (m)

Au (g/t)

Date Reported

PAL0085

124

133.9

9.9

4.1

Mar 01, 2018

PAL0085

137.9

138.9

1.0

0.5

Mar 01, 2018

PAL0085

170

171

1.0

1.7

Mar 01, 2018

PAL0089

86.65

88.65

2.0

1.2

Mar 01, 2018

PAL0089

92.45

93.45

1.0

1.7

Mar 01, 2018

PAL0089

101.2

102.2

1.0

0.6

Mar 01, 2018

PAL0091

145.9

155.8

9.9

2.5

Mar 01, 2018

includes

155

155.8

0.8

19.9

Mar 01, 2018

PAL0091

159.4

160.5

1.1

0.9

Mar 01, 2018

PAL0091

248.6

251.7

3.1

2.3

Mar 01, 2018

PAL0091

256.5

257.4

0.9

0.6

Mar 01, 2018

PAL0092

246.0

250.0

4.0

17.7

Here

PAL0093

186

187

1.0

0.6

Mar 01, 2018

PAL0093

244.05

275.7

31.7

8.4

Mar 01, 2018

includes

252.15

263

10.9

21.0

Mar 01, 2018

PAL0093

280.4

281.4

1.0

6.8

Mar 01, 2018

PAL0088

142.0

143.4

1.4

0.6

Apr 10, 2018

PAL0088

205.0

206.0

1.0

0.6

Apr 10, 2018

PAL0097

164.0

165.0

1.0

0.7

Apr 10, 2018

PAL0097

169.6

170.6

1.0

0.7

Apr 10, 2018

PAL0097

197.0

198.3

1.3

0.7

Apr 10, 2018

PAL0097

200.3

201.4

1.1

0.6

Apr 10, 2018

PAL0097

256.6

264.3

7.7

1.5

Apr 10, 2018

PAL0097

269.3

270.3

1.0

1.5

Apr 10, 2018

PAL0097

281.3

285.3

4.0

1.9

Apr 10, 2018

PAL0097

290.5

291.6

1.2

2.5

Apr 10, 2018

PAL0097

294.8

296.8

2.1

2.7

Apr 10, 2018

PAL0099

16.7

17.7

1.0

1.2

Apr 10, 2018

PAL0099

65.7

70.4

4.7

2.1

Apr 10, 2018

PAL0100

289.0

291.8

2.8

0.8

Apr 10, 2018

PAL0100

294.0

296.3

2.3

2.9

Apr 10, 2018

PAL0100

300.0

301.0

1.0

1.4

Apr 10, 2018

PAL0104

280.0

282.0

2.0

0.5

Here

PAL0109

15.6

23.0

7.4

2.4

Apr 10, 2018

PAL0109

79.2

80.2

1.0

0.6

Apr 10, 2018

PAL0109

83.2

84.2

1.0

0.6

Apr 10, 2018

PAL0110

25.2

26.3

1.1

4.0

Apr 10, 2018

PAL0110

37.6

42.3

4.8

2.5

Apr 10, 2018

PAL0115

122.0

123.0

1.0

0.6

Here

PAL0115

125.9

127.9

2.0

0.6

Here

PAL0115

165.0

166.0

1.0

1.1

Here

PAL0115

230.6

231.4

0.8

0.6

Here

PAL0116

144.0

149.0

5.0

3.3

Here

PAL0116

154.0

156.0

2.0

3.6

Here

PAL0118

322.0

329.0

7.0

2.8

Apr 10, 2018

PAL0118

368.1

391.2

23.1

3.4

Apr 10, 2018**

Including

381.0

386.0

5.0

12.4

Apr 10, 2018

Including

381.0

382.6

1.6

37.3

Apr 10, 2018

PAL0122

87.0

88.0

1.0

0.8

Here

PAL0122

124.2

125.0

0.9

1.0

Here

PAL0122

129.0

132.0

3.0

1.4

Here

PAL0126

6.65

7.5

0.85

0.64

Apr 10, 2018


Table 3: Individual assay data from reported drill holes.

Hole number

Sample ID

From

To

Length

Au ppm

PAL0092

253545

246.0

247.0

1.0

1.8

PAL0092

253547

247.0

248.0

1.0

1.8

PAL0092

253548

248.0

249.0

1.0

66.4

PAL0092

253549

249.0

250.0

1.0

0.7

PAL0104

270786

280.0

282.0

2.0

0.5

PAL0115

270786

122.0

123.0

1.0

0.6

PAL0115

270787

123.0

124.0

1.0

0.3

PAL0115

270788

124.0

124.9

0.9

0.1

PAL0115

270789

124.9

125.9

1.0

0.3

PAL0115

270790

125.9

126.9

1.0

0.5

PAL0115

270791

126.9

127.9

1.0

0.8

PAL0115

260230

165.0

166.0

1.0

1.1

PAL0115

260231

166.0

167.0

1.0

0.9

PAL0115

260277

230.6

231.4

0.8

0.6

PAL0116

257753

125.0

126.0

1.0

0.3

PAL0116

257754

126.0

127.0

1.0

0.1

PAL0116

257755

127.0

128.0

1.0

0.05

PAL0116

257763

135.0

136.0

1.0

0.1

PAL0116

257764

136.0

137.0

1.0

0.9

PAL0116

257772

144.0

145.0

1.0

2.67

PAL0116

257773

145.0

146.0

1.0

4.96

PAL0116

257774

146.0

147.0

1.0

0.26

PAL0116

257776

147.0

148.0

1.0

7.91

PAL0116

257777

148.0

149.0

1.0

0.93

PAL0116

257778

149.0

150.0

1.0

-0.05

PAL0116

257779

150.0

151.0

1.0

-0.05

PAL0116

257780

151.0

152.0

1.0

0.48

PAL0116

257782

152.0

153.0

1.0

0.11

PAL0116

257783

153.0

154.0

1.0

-0.05

PAL0116

257784

154.0

155.0

1.0

0.87

PAL0116

257785

155.0

156.0

1.0

6.33

PAL0122

257833

87.0

88.0

1.0

0.76

PAL0122

257835

88.0

89.0

1.0

0.09

PAL0122

257836

89.0

90.0

1.0

0.13

PAL0122

257868

124.2

125.0

0.8

1.0

PAL0122

257869

125.0

126.0

1.0

0.1

PAL0122

257871

126.0

127.0

1.0

0.2

PAL0122

257872

126.0

127.0

1.0

0.3

PAL0122

257873

127.0

128.0

1.0

0.5

PAL0122

257874

128.0

129.0

1.0

0.1

PAL0122

257876

129.0

130.0

1.0

0.8

PAL0122

257877

130.0

131.0

1.0

1.7

PAL0122

257878

131.0

132.0

1.0

1.1

PAL0122

257879

132.0

133.0

1.0

0.4

PAL0122

257880

133.0

133.7

0.7

0.1