Mawson Commences 8,000 Metre Regional Diamond Drill Program at Rajapalot
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE January 13, 2022
Mawson Commences 8,000 Metre Regional Diamond Drill Program at Rajapalot
Vancouver, Canada — Mawson Gold Limited (“Mawson”) or (the “Com pany”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) is pleased to announce the commencement of the 2022 winter dril l program at its Rajapalot
gold-cobalt project in northern Finland, with the arrival of the first diamond drill rig on site. An 8,000 metre drill progra m
is planned over the next 4 months.
Highlights:
8,000 metre program targeting predominately regional-scale gold-cobalt prospects
Drilling has commenced, with a second rig arriving next week
Objective is to grow the exploration target beyond the immediate confines of the 1 million ounce
gold equivalent Rajapalot Inferred Mineral Resource
Targeting leverages discovery teams’ decade long experience and extensive geological database
to identify and rank targets across the approximate 170km 2 project area that remains
underexplored
Mr. Fairhall, CEO, states “It is exciting to have the rigs turning again at Rajapalot. For the first time in a long time, we are
able to dedicate significant attention and drill metres to grow ing the footprint of the project. With such pervasive gold-
cobalt markers in our till, boulders and geophysical anomalies spread across the sixty kilometers of mapped host horizon,
we are flush with high priority targets that have never seen a drill hole. This creates huge potential to replicate our 1 million
ounce gold equivalent inferred re source discovery success over the last 3 years into a much larger area, and chart the
course for future resource growth. Combined with our permitting and technical de-risking work, we are rapidly advancing
the project on all fronts.”
Drilling commenced at Rajapalot on January 11, with a second ri g planned to mobilise in week commencing 17 th January
as part of an 8,000 metre planned winter program. After two yea rs of sharp focus to drill out resources, Mawson’s
exploration lens has returned ba ck to a regional scale within i ts 100%-owned large and strategic 18,349 hectare ground
holding in the Peräpohja Schist belt. The drill program leverages the intimate understanding of the mineral system defining
the 1.04 Moz @ 3.0 g/t gold equivalent (“AuEq”) 2021 Inferred Mineral Resource estimate (link) to demonstrate the camp-
scale opportunity to grow resources at Rajapalot, through focus ing on targets that are distin ct from the resource areas.
Target priorities consider the full suite of exploration data gathered on the project, including base of till (link), outcrop and
boulder sampling (link), magnetics, induced polarization, and electromagnetic surveys.
Mawson holds first mover advantage into the Peräpohja Schist belt with its gold-cobalt discovery. Adjacent tenure holders
to Mawson include Rio Tinto, First Quantum and Latitude 66 Cobalt.
Technical Background and Qualified Person
The Qualified Person, Michael Hudson, Executive Chairman of Maw son Gold, and a Fellow of the Australasian Institute of
Mining and Metallurgy, has reviewed and verified the technical contents of this release.
Gold equivalent “AuEq” = Au+(Co/1005) based on assumed prices of cobalt US$23.07/lb and gold US$1,590/oz. Details of
Mawson’s Inferred Mineral Resource can be read in the Company’s news release dated August 26, 2021 (here).
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 the flagship Rajapalot gold-cobalt project in Finland. Mawson also owns or is joint venturing into three 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,
"Ivan Fairhall”
Ivan Fairhall, Director and CEO
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, 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 will 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 th e mining
industry in general; reliance on a single asset; planned drill programs and results varying from expectations; unexpected geol ogical
conditions; local community relations; dealings with non-govern mental organizations; delays in operations due to permit grants ;
environmental and safety risks; and other risks and uncertainti es disclosed under the heading "Risk Factors" in Mawson's most recent
Annual Information Form filed on www.sedar.com. While these fac tors 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.