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Webcast January 30, 2020

Overview

Finland

The Rompas-Rajapalot exploration project is Mawson’s flagship properties in Finnish Lapland. Both high-grade gold and cobalt has been discovered within a camp-scale area over 10 sq. km.

Initial discoveries of nuggety, high-grade, gold-uraninite-bearing dolomite veins developed over a 6km trend at Rompas led to the maiden drill program returning 6m at 617 g/t gold from 7m depth in drill hole ROM0011 in 2011.

At Rajapalot, approximately 8 km east, the discovery of Palokas in 2013 by drilling returned high-grade, disseminated gold including 19.5m at 7.4 g/t gold from 1.3m in PRAJ0006 and 5.4m at 37.6 g/t gold from 2.5m in PRAJ0009, with significant cobalt mineralization also identified across the project ie PAL0075: 10.8 metres @ 1,299 ppm Co, 6.2g/t Au (8.7g/t AuEq) from 8.7 metres. The most recent nearly 14 km drill program (Nov ’19 - April ‘20) — which saw 5 rigs turning — aimed to infill and extend the Palokas, South Palokas, and Raja resource areas delivering three times the drill data for an updated resource estimate at the end of Q3 2020.

Interpretation of the geology indicates 65km of host stratigraphy exists within Mawson's permit area. In combination with widespread hydrothermal alteration and gold mineralization, expectations for further drilling success remain high with large drill programs ongoing on the project. Learn More

In late January 2020 Mawson announced a multifaceted agreement with major landholder Nagambie Resources Limited (NAG:ASX) in the Victorian Goldfields of Australia. The Company believes its Finnish assets and newly acquired Australian assets are a natural fit, bringing together a high-quality gold exploration portfolio in two safe and mining friendly jurisdictions. Mawson's Victorian entry provides blue sky exploration potential in the hottest gold address in the world with a right of first refusal on the largest contiguous tenure block in the State (3,600sqkm). The portfolio contains drilled projects with drill results including 17 metres at 7.0 g/t gold from 66 meters drilled within an 11 kilometre trend that remains open. It also includes historic high-grade mines that have never been tested below 50 metres immediately along strike from Mandalay Resource’s high-grade Costerfield mine.

Rajapalot and Rompas Plan View