Mawson Completes 3 Holes at Sunday Creek and Commences Drilling at the High-Grade Redcastle Gold Project in Victoria, Australia
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE SEPTEMBER 17, 2020
Mawson Completes 3 Holes at Sunday Creek and Commences Drilling at the High-Grade
Redcastle Gold Project in Victoria, Australia
Vancouver, Canada — Mawson Resources Limite d (“Mawson”) or (the “Company”) (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) is pleased to provide an update of exploration activities in Australia. Initial
drilling at Sunday Creek has been completed with first results due before the end of the month. The drill rig has moved to
the Redcastle project and a second drill rig will be mobilized to Mawson’s Victorian projects next week. Multiple geophysical
crews are active at the Redcastle gold project.
Key points:
Three initial drill holes for 345 metres have been completed at the Sunday Creek gold project in the Victorian
Goldfields. The target was high-grade veining with associ ated mineralised halos, typical of epizonal-style gold
mineralization at the Apollo-Golden Dyke prospect.
o First results are expected before month’s end;
The drill rig has moved to the high-grade Redcastle Gold Project where extremely high gold grades were mined
over a 4.5 x 7 square kilometre area containing over 24 historic mining areas. They include the Welcome Group
of mines that were exploited over 2 kilometres str ike length from 1859–1865, down to a maximum depth of 125
metres and extracted 20,583 oz @ 254.6 g/t gold;
A second diamond drill rig is expected to be mobilized to Mawson’s Victorian projects next week. A total program
of 5,000 metres is planned for the remainder of 2020 in Victoria; and
Geophysical surveys are ongoing at the Redcastle gold project with two induced polarization crews and one ground
magnetics crew. Dipole-dipole IP and detailed gravity will al so be undertaken at Redcastle, before crews move to
Sunday Creek to perform gradient IP, 3D IP and ground magnetics over the coming months.
Mr. Hudson, Chairman and CEO, states: “The search for the next high-grade epiz onal gold deposit is well underway. All
hands are on deck as we execute on our drilling and geophysical programs in Australia. We are excited to have completed
the first targeted diamond drill holes through the mineralized zone at Sunday Creek and results will start to flow during late
September.”
At the Sunday Creek gold project the target is high-grade veining with associated mineralized halos, typical of epizonal-
style gold mineralization at the Apollo-Golden Dyke prospect.
Historic gold mines at Sunday Creek occur over a greater than 11-kilometre trend. Modern drilling at Sunday Creek
has focussed on shallow, previously mined surface workings, to an average of 80 metres depth. Selected historical
drill results include: CRC013: 21 metres @ 4.8 g/t gold from 9 metres including 2 metres @ 28.8 g/t gold
from 15 metres, and VCRC022: 8 metres @ 11.3 g/t gold from 66 metres including 2 metres @ 40.3 g/t gold
from 70 metres;
At Redcastle the depth extensions of four historic vein areas will be diamond drill tested over the next month for the first
time since mining ceased in the last 1890’s. Additionally, geophysical surveys are ongoing at the Redcastle gold project
with 2 induced polarization crews and one ground magnetics crew. Dipole-dipole IP and detailed gravity will also be
undertaken at Redcastle, before crews move onto Sunday Creek to perform gradient IP, 3D IP and ground magnetics over
the coming months
At Redcastle, extremely high gold grades were mined over a 4.5 x 7 square kilometre area that contains over 24
historic mining areas, They include the Welcome Group of mines that were exploited over 2 kilometres strike
length from 1859–1865, down to a maximum depth of 125 metres and produced 20,583 oz @ 254.6 g/t gold.
Victoria has produced more than 80 million ounces of gold and has seen three booms: the 1850s, early 1900s, and the last
three years. Two different styles of gold mineralization predominate in Victoria. The deep orogenic (“mesozonal”) style and
the shallow orogenic “epizonal” style. The mesozonal style is well represented in the Bendigo and Ballarat regions that are
often represented by huge mineralizing systems containing abundant nuggety gold that are typically extremely difficult to
accurately model in modern resource calculations. Mawson is sharply focused on the high-grade epizonal-style (i.e.
Fosterville-style).
Qualified Person
Michael Hudson (FAusMM), Chairman and CEO for the Company, is a qualified person as defined by National Instrument 43-101 –
Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of th e scientific and technical inform ation in
this press release.
None of the drill and trench data have been independently verifi ed by Mawson at this time. The historical data pre-dates the
implementation of NI 43 101 and are quoted for information purposes only. Drilling and trench information from Sunday Creek by CRA
Exploration, Ausminde and Beadell Resources had a variety of assays and check assays reported in historical reports. It is reported that
the primary analysis for gold was completed by fire assay with an atomic adsorption finish by NATA registered laboratories. XRF assays
were used for antimony.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)
Mawson Resources Limited is an exploration and development company. Mawson ha s 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,
infoatmawsonresources.com
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, timing and
successful completion of the geophysics and drill programs planned at Redcastle and S unday Creek, capital and other costs varyi ng
significantly from estimates, changes in world metal markets, changes in equity market s, the potential impact of epidemics, pan demics
or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on the Company’s business,
planned drill programs and results varying from expectations, de lays in obtaining results, equi pment failure, unexpected geolog ical
conditions, local community relations, dealings with non-government al organizations, delays in operations due to permit grants,
environmental and safety risks, and other ri sks and uncertainties disclosed under the he ading "Risk Factors" in Mawson's most r ecent
Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made an d,
e x c e p t a s m a y b e r e q u i r e d b y a p p l i c a b l e s e c u r i t i e s l a w s , M a w s o n disclaims any intent or obligat ion to update any forward-lookin g
statement, whether as a result of new information, future events or results or otherwise.