Mawson Drill Planning Update FOR Rajapalot Finland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE MARCH 23, 2018
MAWSON DRILL PLANNING UPDATE FOR RAJAPALOT FINLAND
Vancouver, Canada — Mawson Resources Limite d (“Mawson”) or (the “Company”) (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces an update on drilling an d rig movements at its 100% owned
Rajapalot gold project in Finland.
Key Points:
Three drill rigs continue drilling at Rajapalot in the fully permitted Hirvimaa and Raja exploration permits and in-fill
base-of-till drilling is planned at Romp as within the fully permitted Männistö exploration permit areas (4,213
hectares in total) while winter conditions prevail (Figures 1 and 2);
Forty-four diamond drill holes for 9,838 metres have al ready been completed at the Kairamaat 2-3 exploration
permit area (1,462 hectares) this winter (Figure 1) which is part of Mawson’s regional 16,256 hectare land package
in Finland. Drilling is now finished in Kairamaat 2-3 due to an administrative court decision outlined below;
Results from the first five drill holes as reported March 01, 2018 were highly encouraging with PAL0093 intersecting
31.7 metres @ 8.4 g/t gold from 244.1 metres, including 10.9 metres at 21.0 g/t gold from 252.2 metres.
Results are pending for thirty-nine drill holes;
Drill program on track to complete 15,000 metres this winter.
Mr Hudson, Chairman & CEO states, "Owing to a complicated Finnish administrative system we have had to complete drilling
at Kairamaat 2-3 permit a few weeks earlier than anticipated. Three drill rigs continue to drill 24/7 in adjacent areas and
we remain on target to complete 15 kilometres of drilling at Rajapalot this winter. 39 drill holes remain to be reported, so
news flow will continue for the coming months. Our challeng e is to now search for extensions of the mineralized system
north of Palokas and to the east of Raja prospects and build up further targets for ongoing summer drilling.”
According to the Finnish Mining Act, after the first renewal period of up to 4 years, all exploration permits in Finland can be
renewed in 3-year maximum intervals, for a combined total of 15 years. The Kairamaat 2-3 exploration permit area of 1,462
hectares is part of Mawson’s larger ground holding of 16,256 hectares, of which a total of 4,213 hectares are granted.
Kairamaat 2-3 was first granted to Mawson as exploration claims in October 2011 under an older version of the Mining Act,
and then renewed in June 2014 and January 2018. On 12th January, 2018, the Finnish Mining Authority, TUKES, renewed
the Kairamaat 2-3 exploration permit, according to specific environmental assessments performed by Mawson, for an
additional 2 years. As a part of its permit decision, TUKES issued an enforcement of the earlier exploration permit conditions
to allow exploration work to commence immediately. As is standard in Finnish legislation, all administrative decisions are
appealable. Three appeals were filed against the TUKES decisi on to the Northern Finland Administrative Court on the
exploration permit decision with requests for abrogation of the enforcement order. The company has just been advised that
the Administrative Court made an interlocutory judgment in the enforcement order matter and decided to abrogate TUKES’
enforcement order and therefore drilling at Kairamaat 2-3 has been finished 2-3 weeks earlier than initially planned. Winter
drilling on snow cover is only permitted within the Kairamaat 2-3 area. The next steps are to work with all authorities over
the coming months to ensure drilling can continue in the Kairamaat 2-3 next winter.
Technical and Environmental Background
The qualified person for Mawson's Finnish projects, Dr. Nick Cook , President for Mawson and a Fell ow of the Australasian Instit ute of
Mining Metallurgy has reviewed and verified the contents of this release.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS: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 Rompas and Rajapalot gold projects in Finland.
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 within the meaning of applicable securitie s laws (collectively,
"forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking 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 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, ch anges in equity markets, planned drill programs and results var ying from expectations,
delays in obtaining results, 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 o n 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: Permit areas at the Rompas-Rajapalot Project in Finland.
Figure 2: Rajapalot project showing drill holes completed to date and extensions to mineralized horizons currently being drill tested.