Mawson Announces Grant of Stock Options and Rsus
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE SEPTEMBER 15, 2021
MAWSON ANNOUNCES GRANT OF STOCK OPTIONS AND RSUs
Vancouver, Canada – Mawson Gold Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS:MWSNF) announces that pursuant to the Company’s Stock Option Plan and Restricted Share Unit Plan
(“RSUs”), the Company has granted 250,000 stock options and 700,000 RSUs to certain officers and employees of the
Company, exercisable and issuable for up to 950,000 common shares of the Company (the “ Common Shares”). The
stock options are exercisable at $0. 22 per Common Share for a period of three years. The RSUs vest immediately and
entitle the holder to receive one Common Share for each RSU granted. Each of the Stock Option Plan and RSU Plan were
last approved by the Company’s shareholders at the annual general meeting held on November 18, 2020.
About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Gold Limited is a gold exploration and development company and has distinguished itself as a leading exploration company with
a focus on the flagship Rajapalot gold-cobalt project in Finland and its Victorian gold properties in Australia.
Mawson’s flagship is the 100%-owned Rajapalot gold-cobalt project, located just south of the Arctic Circle in Finnish Lapland. At Rajapalot
the Company has made a significant greenfield discovery and on 26 August 2021 published an updated Inferred Mineral Resource. The
updated resource estimation was completed by Eemeli Rantala, AFRY – P.Geo, Ville-Matti Seppä, AFRY – EurGeol of Finland and Craig
Brown, Mining Associates Pty Ltd – FAusIMM of Australia. All authors are independent “qualified persons” as defined by NI 43 -101. The
NI 43-101 technical report is entitled “Mineral Resource Estimate NI 43 -101 Technical Report — Rajapalot Property” and is available
under Mawson’s profile on SEDAR at www.sedar.com and on Mawson’s website at www.mawsongold.com
The August 2021 base case open pit and underground constrained Inferred Mineral Resource was estimated at 10,907,000 tonnes @ 2.5
g/t gold (“Au”), 443 ppm cobalt (“Co”), which equates to 3.0 g/t gold equivalent (“AuEq”) for 887,000 ounces (“oz”) Au or 1,041,980 oz
AuEq. The AuEq value was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/1005) and using a gold price of US$1,590
per ounce and a cobalt price of US$23.07/lb. Mineral Resources are stated at a 0.3 g/t AuEq open pit cut-off and 1.1 g/t AuEq underground
cut-off from five block models comprising 8 prospects.
The 2021 base case resource increases gold grade by 19% (AuEq grade by 12%) and contained gold ounces by 47% (contai ned gold
equivalent ounces by 35%) as compared to the previous Rajapalot resource estimation published on September 14, 2020.
Qualified Person
The Qualified Person, Dr Nick Cook, Mawson’s Chief Geologist, and a Fellow of the Australasian Institute of Mining and Metallurgy, has
reviewed and verified the technical contents of this release.
On behalf of the Board,
"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 forward -looking information within the meaning of applicable Canadian securities laws
(collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements and are based
upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access
financing, appropriate equipment and sufficient labor. Forwa rd-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 ca utions 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; ability to achieve goals; that the political environment in which the Company operates wi ll continue to support the
development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID -19
virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a singl e asset; planned drill programs
and results varying from expectations; 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 disclose d under the heading "Risk Factors" in
Mawson's most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Mawson, in
light of management’s experience and perception of current conditions and expected developments, Mawson can give no assurance that such expectations
will prove to be correct. 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