GOLD and 3.6 % Antimony IN Deepest Hole at Sunday Creek, Victoria, Australia
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE DECEMBER 13, 2021
MAWSON DRILLS 3.0 m @ 41.4 g/t GOLD AND 12.0 % ANTIMONY WITHIN 11.7m @ 12.4 g/t
GOLD AND 3.6 % ANTIMONY IN DEEPEST HOLE AT SUNDAY CREEK, VICTORIA, AUSTRALIA
Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Compa n y ” ) ( T S X : M A W ) ( F r a n k f u r t : M X R )
(PINKSHEETS: MWSNF) is pleased to announce assay results from three diamond drill h oles (MDDSC023-25) drilled at
the 100%-owned Sunday Creek project in the Victorian Goldfields of Australia. The Sunday Creek epizonal-style gold project
is located 56 kilometres north of Melbourne and within 19,365 hectares of granted exploration tenements.
Highlights:
11.7 metres @ 12.4 g/t Au and 3.6 % Sb (16.0 g/t AuEq) from 362.0 metres in hole MDDSC025,
including:
o 3.0 metres @ 41.4 g/t Au and 12.0 % Sb (53.4 g/t AuEq) from 364.0 metres;
o 0.5 metres @ 14.3 g/t Au and 4.4 % Sb (18.7 g/t AuEq) from 370.8 metres;
MDDSC025 is the deepest drill hole drilled at Sunday Creek (320 metres vertical depth), and highest-grade gold-
stibnite mineralization to date on the project (Tables 1-3, Figures 1-3)
The proposed spin-out of Mawson’s Australian assets onto the Australian Stock Exchange (“ASX”) is progressing
well, with Mawson recently receiving ASX’s positive reply for Southern Cross Gold’s In-principle Advice submission
to support Southern Cross Gold’s suitability for admission to t he official list of the ASX. Southern Cross Gold is
now moving to the pre-IPO private placement financing stage to fund continued exploration, drilling, working
capital and IPO expenses in Australia.
Michael Hudson, Executive Chairman, states: “Sunday Creek is one of the best discoveries to be made in the
modern renaissance of the Victorian goldfields. With bolder and larger step-outs the project continues to
deliver. Our deepest hole at the project to date has intersected the highest grades and widths we have seen.
This is the eighth intersection exceeding 100 “grade (g/t) x wi dth (m)” on the project. Mineralization
remains open at depth and the system continues 10 kilometres to the east covering historic mines, without
a single drill hole test.”
MDDSC025 is a large step-out, located 380 metres east of MDDSC021 (Figure 1), the previous deepest intersection drilled
at the project (21.7 metres @ 4.7 g/t Au and 1.0 % Sb (5.6 g/t AuEq from 274.7 metres) (Figure 2). MDDSC025 (Figure 3)
intersected:
11.7 metres @ 12.4 g/t Au and 3.6 % Sb (16.0 g/t AuEq) from 362.0 metres in hole MDDSC025, including:
o 3.0 metres @ 41.4 g/t Au and 12.0 % Sb (53.4 g/t AuEq) from 364.0 metres or 6.5 metres @
20.6 g/t Au and 6.0 % Sb (26.6 g/t AuEq) from 362.5 metres;
o 0.5 metres @ 14.3 g/t Au and 4.4 % Sb (18.7 g/t AuEq) from 370.8 metres;
MDDSC024 metres at Gladys, drilled 180 metres SW of MDDSC025 intersected:
o 5.0 metres @ 1.1 g/t Au and 0.3 % Sb (1.5 g/t AuEq) from 195.0 metres;
MDDSC022 at Rising Sun and MDDSC023 at Gladys did not intersect significant mineralization (Figure 1).
Mawson has now completed twenty-six drill holes (MDDSC001-026) for 6,447.8 metres at the Sunday Creek gold-antimony
project since mid-2021 (Figures 1 and 2). Assays from 25 out of the 26 finalized holes have been released. The drill rig will
return to Sunday Creek in January 2022 after completing two dia mond drill holes at the Whroo JV project. Geophysical
surveys (3D induced polarization and ground magnetics) and deta iled LiDAR surveys have been completed. Mawson has
also completed a 1,200-point soil sampling program at Sunday Creek extending east-northeast from the drilling area to test
the 11-kilometre trend of historically mined epizonal dyke-host ed mineralization within Mawson’s tenured areas. The
integration of the LiDAR, soil sampling data, rock chips and geophysics is key to the expansion of the project along strike.
The previously announced spin-out Mawson’s Australian assets into a new entity, Southern Cross Gold Pty Ltd. ("Southern
Cross Gold") via an Initial Public Offering (“IPO”) for admission to the official list of ASX Limited (“ASX” or “Australian Stock
Exchange”) is progressing well. ASX’s positive reply has now be en received for Southern Cross Gold’s In-principle Advice
submission to support Southern Cross Gold’s suitability for admission to the official list of the ASX. Southern Cross Gold will
now move to the pre-IPO private placement financing stage to fund continued exploration, drilling, working capital and IPO
expenses in Australia from sophisticated and professional (“accredited”) investors.
Technical and Environmental Background: Tables 1–3 provide collar and assay data. The true thickness of the mineralized interval
is interpreted to be approximately 60 % of the sampled thicknes s. All drill results quoted have a lower cut of 0.3 g/t Au cut over a 2.0
metre width, with higher grades reported with a 5 g/t Au cut over 1.0 metre applied unless otherwise stated. Lab duplicates and quarter
core field duplicates demonstrate that mineralization is homogenous with a low nugget effect evident. A diamond drill rig from contractor
Starwest Pty Ltd was used in the program. Core diameter is HQ ( 63.5 mm) and oriented with excellent core recoveries averaging close
to 100% in both oxidized and fresh rock. After photographing and logging in Mawson’s core logging facilities in Nagambie, intervals were
d i a m o n d s a w n i n h a l f b y M a w s o n p e r s o n n e l . H a l f c o r e i s r e t a i n e d for verification and reference purposes. Analytical samples ar e
transported to On Site Laboratory Services’ Bendigo facility which operates under both an ISO 9001 and NATA quality systems. Samples
were prepared and analyzed for gold using the fire assay techni que (PE01S method; 25 gram charge), followed by measuring the g old
in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia
digestion and ICP-MS analysis. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold
content, quarter core duplicates and blanks within interpreted mineralized rock. In addition, On Site inserts blanks and standards into the
analytical process.
Gold Equivalent Calculation: It is the opinion of Mawson that all the elements included in t he metal equivalent calculation have a
reasonable potential to be recov ered. The gold equivalent (AuEq ) was calculated based on commodity prices as 21 March 2021. Th e
AuEq formula is as follows: AuEq(g/t) = (Aug/t) + (XX * Sb%), where XX = (US$5,600/100) / (US$1,750/31.1035) and the gold price =
US$1,750/oz and antimony price = US$5,600/tonne.
Qualified Person: Dr Nick Cook (FAusMM), Chief Geologist for the Company, is a qu alified person as defined by National Instrument
43-101 – Standards of Disclosure or Mineral Projects and has pr e p a r e d o r r e v i e w e d t h e p r e p a r a t i o n o f t h e s c i e n t i f i c a n d t e c h n ical
information in this press release.
About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)
Mawson Gold Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration
company with a focus on the flagship Rajapalot gold-cobalt proj ect in Finland. Mawson also owns or is joint venturing into thr ee high-
grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant
gold-cobalt resource in Finland.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Executive Chairman
Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316,
Forward-Looking Statement
This news release contains forward-looking statements or forwar d-looking information within the meaning of applicable securiti es laws
(collectively, "forward-looking statements"). All statements he rein, other than statements of h istorical fact, are forward-loo king
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 fo rward-
looking statements as a result of various factors, including, b ut not limited to, timing and successful completion of explorat ion and drill
programs planned at Sunday Creek and the Whroo Project, timing and successful completion of Southern Cross Gold’s Pre-IPO Priv ate
Placement, IPO and listing of Southern Cross Gold’s common shares on ASX, capital and other costs varying significantly from estimates,
changes in world metal markets, changes in equity markets, the potential impact of epidemics, pandemics or other public health crises,
including the current pandemic known as COVID-19 on the Company ’s business, risks related to negative publicity with respect t o the
Company or the mining industry in general; planned drill progra ms and results varying from expectations, delays in obtaining r esults,
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.
Figure 1: Plan location of the Sunday Creek Project historic mines and location Mawson drilling from this new release (MDDSC0022-25).
Figure 2: Longitudinal (“Long”) Section of the Golden Dyke to Apollo Mine Area highlighting Mawson drillholes MDDSC0022-25 reported here.
nd
co
Figure 3: Cross Section of the Apollo Mine area showing Mawson drillhole MDDSC025 reported here.
Figure 3: Annotated HQ drill core (63.5mm diameter) showing downhole depth and gold grades from MDDSC0025: 11.7 metres @
12.4 g/t Au and 3.6 % Sb (16.0 g/t AuEq) from 362.0 metres in hole MDDSC025, including 3.0 metres @ 41.4 g/t Au and 12.0 % Sb
(53.4 g/t AuEq) from 364.0 metres or 6.5 metres @ 20.6 g/t Au and 6.0 % Sb (26.6 g/t AuEq) from 362.5 metres and 0.5 metres @
14.3 g/t Au and 4.4 % Sb (18.7 g/t AuEq) from 370.8 metres.
Table 1: Collar information from Mawson’s drilling at the Sunday Creek Project
Coordinate Reference System GDA94, Zone 55 (EPSG:28355)
Area Hole_ID Easting Northing Dip Azimuth RL (m) Depth (m) Date Reported
Central MDDSC001 331080 5867769 -55.5 283.3 318 67 October 07, 2020
Central MDDSC002 331085 5867771 -65.6 241.9 318 150.3 October 27, 2020
Rising Sun MDDSC003 330776 5867892 -65.2 240.2 295 127.7 October 27, 2020
Golden Dyke MDDSC004 330637 5867822 -44 240.5 321 280 January 05, 2021
Apollo MDDSC005 331029 5867798 -45.5 89.6 311 160.1 January 05, 2021
Gladys MDDSC006 331023 5867799 -39.4 237.1 311 99.6 February 11, 2021
Gladys MDDSC007 330985 5867712 -42 70 321.5 150.8 February 11, 2021
Gladys MDDSC008 331044 5867763 -52 253.2 320 99.2 February 11, 2021
Gladys MDDSC009 331013 5867799 -50 260 311 105.9 February 11, 2021
Gladys MDDSC010 331033 5867798 -60 214 310.5 151.3 February 11, 2021
Gladys MDDSC011 331042 5867798 -55 270 310 215.8 March 22, 2021
Apollo MDDSC012 331172 5867842 -60 252.4 309 262.9 March 22, 2021
Apollo MDDSC013 331170 5867842 -68 223 309 43.4 Abandoned
Apollo MDDSC013A 331170 5867842 -68 223 309 270 July 06, 2021
Apollo MDDSC014 330985 5867712 -75 41.4 303.7 300 July 06, 2021
Apollo MDDSC015 331191.6 5867860 -65 253 306.7 29.8 Abandoned
Apollo MDDSC015A 331191.6 5867860 -65 253 306.7 423.2 July 06, 2021
Apollo MDDSC016 331104.4 5867822 -66 236 308.3 15.74 Abandoned
Apollo MDDSC016A 331104.4 5867822 -66 236 308.3 252.5 27 October, 2021
Apollo MDDSC017 331196.4 5867856 -72 260 307.6 450 27 October, 2021
Golden Dyke MDDSC018 330548 5867891 -55 195 307.6 300 27 October, 2021
Golden Dyke MDDSC019 330615.8 5867886 -57 195 300.39 196.4 27 October, 2021
Rising Sun MDDSC020 330755 5868012 -55 195 298.43 200 27 October, 2021
Rising Sun MDDSC021 330755 5868012 -65 200 298.43 321.4 27 October, 2021
Root Hog MDDSC022 330875 5868005 -55 200 307.19 282.5 27 October, 2021
Gladys MDDSC023 330981 5867845 -66 175 297.35 222.6 Here
Gladys MDDSC024 330981 5867845 -77 175 297.35 306.3 Here
Apollo MDDSC025 331154 5867964 -72 210 297.35 444.2 Here
Apollo MDDSC026 331111 5867971 -73 215 318.56 519.2 Here
Note: (1) The true thickness of t he mineralized interval is interpreted to be approximately 60-70% of the sampled thickness.
Table 2: Intersections from Mawson’s drilling from the Sunday Creek Project. Intersections are reported with a lower cut of 0.3 g/t Au
cut over 2.0 metre width, with higher grades reported with a 5 g/t Au cut over 1.0 metre.
Hole_ID From
(m)
To (m) Width(1)
(m)
Au g/t Sb % AuEq
g/t
MDDSC001 0.0 15.2 15.2 3.7 0.2 3.9
including 2.0 2.8 0.8 9.4 0.4 9.7
including 6.0 6.2 0.1 15.8 0.1 15.9
including 8.0 8.7 0.7 5.7 0.1 5.8
including 10.0 11.6 1.6 11.3 0.3 11.5
MDDSC001 56.0 56.9 0.9 2.2 0.0 2.2
MDDSC001 64.0 65.4 1.4 0.6 0.1 0.7
MDDSC002 16.0 17.5 1.5 1.2 0.3 1.4
MDDSC002 26.0 26.3 0.3 6.3 0.2 6.4
MDDSC002 39.0 41.0 2.0 1.4 0.0 1.4
MDDSC002 50.0 59.0 9.0 3.2 0.5 3.7
including 54.0 54.3 0.3 82.8 13.8 96.5
MDDSC002 76.0 76.5 0.5 1.0 0.0 1.1
MDDSC002 96.0 96.6 0.6 2.2 0.3 2.5
MDDSC002 109.0 110.1 1.1 21.4 3.3 24.7
MDDSC002 113.0 113.3 0.3 10.6 1.1 11.7
MDDSC002 116.0 130.3 14.3 2.9 0.5 3.3
including 116.0 116.3 0.3 25.6 0.0 25.6
including 117.0 117.4 0.4 18.0 2.8 20.8
including 119.0 119.6 0.5 7.0 7.3 14.3
including 123.0 124.1 1.1 5.2 0.8 6.0
including 128.0 128.2 0.2 7.1 0.0 7.1
MDDSC002 135.0 136.0 1.0 0.6 0.0 0.6
MDDSC002 143.0 144.0 1.0 1.8 0.0 1.8
MDDSC003 72.0 73.5 1.5 3.6 0.3 3.9
including 72.0 72.9 0.9 5.3 0.5 5.7
MDDSC003 76.0 81.5 5.5 1.6 1.4 3.0
including 79.0 79.6 0.6 5.9 10.0 15.8
MDDSC003 84.0 84.9 0.9 1.0 0.0 1.0
MDDSC003 91.0 92.4 1.3 0.4 0.6 1.0
MDDSC003 116.0 119.1 3.1 0.6 0.0 0.6
MDDSC005 15.0 15.3 0.3 0.7 0.0 0.7
MDDSC005 88.0 92.2 4.2 3.4 0.1 3.5
including 89.0 89.2 0.1 7.1 0.7 7.9
MDDSC005 99.0 99.2 0.2 1.3 0.4 1.6
MDDSC005 107.0 112.7 5.7 0.6 0.6 1.2
including 109.0 109.2 0.2 3.0 11.2 14.1
MDDSC005 120.0 135.7 15.7 2.6 1.0 3.6