Mawson Announces Diamond Drilling and Geophysics Underway IN Finland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE SEPTEMBER 23, 2020
MAWSON ANNOUNCES DIAMOND DRILLING AND GEOPHYSICS UNDERWAY IN FINLAND
Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) is pleased to announce that a diamond drill rig has been mobilized to the 100%-owned Rajapalot
gold project in Finland. In addition, geophysical electromagnetic (“EM”) surveys are ongoing.
Key points:
Drilling is underway at the all-year drill-permitted areas, Hirvimaa and East Joki;
The drill program is testing a combination of gold base-o f-till anomalies, conductors recognized in airborne
VTEMplus and ground TEM elec tromagnetic data and the inferred location of the stratigraphic host to the gold-
cobalt mineralization (Figure 1):
o Hirvimaa forms a 3-kilometre-long target zone located 500 metres north-east of the Palokas resource area;
o East Joki forms a 2-kilometre-long target zone located 1,000 metres north-east of the Raja resource area;
An initial 2,000 metre drill program is planned over the next two months;
A 20 kilometre drill program with 5 drill rigs is planned from mid to late December 2020 with the aim to expand the
Sept 2020 Mineral Resource, which doubled the resource published 20 months earlier; and
Electromagnetic (“EM”) geophysical surveys remain in progress, covering the entire trend at both Hirvimaa and
Eastern Joki.
Mr. Hudson, Chairman and CEO, states: "This is the first season we have been able to fully apply our geological and
geophysical understanding of the Rajapalot mineral system to the summer drill areas at Hirvimaa and East Joki. There is
no shortage of geological indications that mineralization co uld continue into these 99% glacial till covered areas. These
include drill sampled Palokas-style mineralized boulders at Hirvimaa (0.6 metres @ 21.3 g/t gold and 0.8 metres @ 13.1 g/t
gold) and anomalous base-of-till drillholes, combined with the ground-based electromagnetic conductors that we are now
generating (Figure 1). At any point, a discovery in these ar eas could be a game changer which would allow us all year-
round drilling. In the meanwhile, we look forward to the 5 drill rig program planned to start in December in our winter drill
areas in Finland and first results from the 2 drill rigs currently operating in Victoria, Australia.”
A series of airborne (VTEMplus) and ground geophysical EM surveys have been completed at Rajapalot to locate conductive
and magnetic gold-cobalt mineralization (Figure 1). Magnetic pyrrhotite associated with gold-cobalt mineralization is strongly
conductive and has reverse remanent magnetism. The coinci dence of these geophysical properties has been used to
successfully locate the mineralization found at the Raja, Palo kas and Rumajärvi resource areas (Figure 1) and map the
down-plunge extent of mineralization. Likewise, corresponding anomalies at Joki East and Hirvimaa form strong drill targets.
Qualified Person
Dr. Nick Cook (FAusMM), Chief Geologist for the Company, is a qu alified person as defined by National Instrument 43-101 – Stand ards
of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in t his press
release.
About Mawson Resources 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 project in Finland. The Australian gold acquisition provides Mawson with a strategic
and diversified portfolio of high-quality gold exploration assets in two safe jurisdictions.
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,
Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information wi thin the meaning of applicable securitie s laws
(collectively, "forward-looking statements") . All statements herein, other than statements of historical fact, are forward-look ing
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 for ward-
looking statements as a result of various factors, including, but not limited to, timing of the updated resource on the Company’s Finnish
projects, the Company’s expectations and timing of the resource expansion and definition program at Rajapalot, Finland, capital and
other costs varying significantly from estimates, changes in worl d metal markets, changes in equi ty markets, the potential impa ct of
epidemics, pandemics or other public health crises, including th e current outbreak of the novel coronavirus known as COVID-19 o n the
Company’s business, planned drill programs and results varying fr om expectations, delays in obta ining results, equipment failur e,
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 la ws, Mawson disclaims any intent or obligation to update any forw ard-
looking statement, whether as a result of new information, future events or results or otherwise.
Figure 1: Plan location of the Rajapalot project showing resource wireframes from the September 2020 resource estimate, modelled EM plates base-of-till (BOT) anomalous drill
holes and the summer permitted East Joki and Hirvimaa target areas.