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Rompas-Rajapalot Overview

Quick Overview

The Rompas-Rajapalot exploration project is the Company’s flagship properties, located just south of the Arctic Circle in Finnish Lapland. These are straddles the boundary of the Ylitornio and Rovaniemi municipalities. Mawson is focussed on two target areas at Rompas-Rajapalot:

1. A primary target of disseminated gold mineralization at Rajapalot, where discovery at the Palokas Prospect of high grade and thick core sample results include 19.5 metres @ 7.4 g/t gold from 1.3 metres from PRAJ0006 5.4 metres @ 37.6 g/t gold from 2.5 metres from PRAJ0009 (including 1.0 metres @ 189.0 g/t gold from 6.9 metres); 6.8 metres @ 14.7 g/t gold from 34.4 metres and 10.0 metres @ 11.06 g/t gold from - 2 - 110.2 metres. This disseminated mineralization is coincident with geophysical anomalies that extend for more than 4 kilometres. Follow up drilling along the strike extent produced results including 27.0 metres @ 3.3 g/t gold (no cut) from 64.0 metres including 3.0 metres @ 2.9 g/t gold from 64 metres, 2.0 metres @ 5.6 g/t gold from 70.0 metres and 8.8 metres @ 7.5 g/t gold from 82.2 metres in PAL0075 and 13.5 metres @ 4.0 g/t gold from 180 metres in PAL0062. At the Raja Prospect, some 1,500 metres south of Palokas, drill hole PAL0093 intersected 31.7 metres @ 8.4 g/t gold from 244.1 metres, including 10.9 metres @ 21.0 g/t gold from 252.2 metres. This prospect now extends for over 400 metres down plunge, with a geophysical signature of over 900 metres to be drill tested.

2. The Company’s secondary target is the Rompas vein-style target area. The first drill program at South Rompas included the highlight of 6 m @ 617 g/t gold from 7 metres in drill hole ROM0011 which includes 1 metre @ 3,540 g/t gold from 11 metres depth. The second drill program, conducted over the winter (December 2012 - January 2013) confirmed the presence and variable continuity within metabasalts of high grade, nuggety gold at both North and South Rompas and included results from North Rompas of 0.4 metres @ 395 g/t gold and 0.41% uranium in drill hole ROM0052 and at South Rompas the top 24% all assays from trenches and drilling now grade 100 g/t or more. At the Raja prospect, drill results support the discovery of a new coherent mineralized body (ie PAL0093 31.7 metres @ 8.4 g/t gold from 244.1 metres). A 120 metre step-out on the mineralized trend from PAL0093 intersected mineralization in the second drill hole, PAL0118 including a 23 metre zone averaging 3.4 g/t gold (uncut). The Raja mineralization has now been drilled over 500 metres from surface with mineralization unconstrained laterally and down plunge.

The interpretation of the geology indicates that more than 65 kilometres of host stratigraphy exists within Mawson's permit area. In combination with the thick and widespread occurrence of hydrothermal alteration associated with the gold mineralisation in these drill holes and others at Rajapalot, and the abundant gold-bearing hydrothermal sericite-, biotite- and magnetite-bearing boulders in the area, expectations for further drilling success remain high. Learn More

Ownership

As at May 31, 2016, the Company holds a total of 2 granted exploration permits, 11 exploration permit applications and 2 reservations in Finland. At Rajapalot/Rompas a permitted area of 23,184 hectares exists, which consist of 13 exploration permits and permit applications.

Status of Mawson’s Claims in Finland

Number

Area

(ha)

Exploration Permits*

2

2,469

Exploration Permit Applications

11

20,715

Reservations

2

2,247

* Two under administrative appeal - working under past conditions under enforcement order

Location

The Rompas area is situated a few kilometres south of the Arctic Circle. The area is located mainly in the municipality of Ylitornio, but some areas in the SE of the project belong to the town of Rovaniemi, the capital of Lapland . The distance to both municipality centres is about 50 km.

Access to the area is good with a paved road located between between Ylitornio and Rovaniemi. A local forestry road network is also present in the area. The distance to the nearest railroad station is 30km east at Muurola. A railway station is also present at Ylitornio, which is currently under upgrade for three iron projects located in the Kolari and Pajala areas in Finland and Sweden. In addition, an international airport is situated ten kilometres north of Rovaniemi.

The landscape of the area consists of forest and flat mire terrains with shallow undulating hills in places. No houses are located in the claimed area.

Property History

The area was discovered by an airborne radiometric surveys in 2008 by Areva NC. Follow-up exploration was conducted geologists who had previous Geological Survey of Finland ("GTK") experience in the area. Reconnaissance sampling and geological and radiometric mapping was started in 2008 with some follow-up work in 2009. More than 150 new, separate occurrences of high uranium and extremely high gold contents were located in bedrock. At that time, however, AREVA decided to reduce activities in Finland and subsequently Mawson purchased the property from AREVA in April 2010.

Rajapalot is a grassroots discovery made by Mawson in mid 2012. Prior to August 2012 Rajapalot was unknown and had never been sampled.


Conclusion

Rompas is an exciting new gold discovery 100% owned by Mawson.

Given the scale, tenor of mineralization and frequency of discovery in an area with only 2% outcrop we believe Rompas to be one of the most exciting exploration-stage gold discoveries in the world today.