Mawson Drills Multiple GOLD Intersections Within 5 Prospects at Rajapalot
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE APRIL 10, 2018
MAWSON DRILLS MULTIPLE GOLD INTERSECTIONS WITHIN 5 PROSPECTS AT RAJAPALOT
Includes 5.0 metres @ 12.4 g/t gold at the Raja Prospect
Vancouver, Canada — Mawson Resources Limite d (“Mawson”) or (the “Company”) (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces results from 9 new drill holes at the Company’s 100% owned
Rajapalot Project in Northern Finland. Eight holes intersected gold mineralization across multiple prospect areas.
Key Points:
The best assay result reported is PAL0118, drilled at the Raja prospect , which intersected 5.0 metres @ 12.4 g/t
gold from 381.0 metres (Figures 1 and 2) within a broader mineralized zone of 23.1 metres at 3.4 g/t gold (no
lower cut) from 368.1 metres. A separate intersection in PAL0118 intersected 7 metres at 2.8 g/t gold from 322
metres;
PAL0118 was drilled 120 metres down plunge to the NNW of prior high-grade intersections including PAL0093 with
31.7 metres @ 8.4 g/t gold from 244.1 metres. See Mawson News Release March 01, 2018 and Figures 3 and 5.
Gold mineralization was intersected by diamond drilling at all 5 prospects drilled within the Rajapalot Project (Figure 1),
across an area of 2.5 kilometres by 1.5 kilometres, as shown in Table 1 below which summarizes drill highlights:
Hole_id From (m) To (m) Width (m) Gold g/t Prospect
PAL0118 322.0 329.0 7.0 2.8 Raja
PAL0118 368.1 391.2 23.1 3.4 Raja
Including 381.0 386.0 5.0 12.4 Raja
Including 381.0 382.6 1.6 37.3 Raja
PAL0109 15.6 23.0 7.4 2.4 Rumajärvi
PAL0097 256.6 264.3 7.7 1.5 Raja
PAL0099 65.7 70.4 4.7 2.1 Terry’s
Hammer
PAL0110 37.6 42.3 4.8 2.5 Palokas
Fifty-nine holes (PAL0083–PAL0139, 141–142) have now been drilled during the winter program for a total of 13,079
metres of diamond drill core. Including holes from this release, 14 from 59 drill holes have now been released with gold
assay data (also see Mawson News Release March 01, 2018). Results are pending for the balance of 45 diamond drill
holes.
Drilling continues 24/7 with three diamond drill rigs and one base-of-till rig, with the program on track to complete
15,000 metres in over 60 diamond drill holes by late April when winter conditions are forecast to end. Drilling is planned
to recommence in summer after the winter melt.
Mr. Hudson, Chairman and CEO, states, "Mawson’s dual aims for this winter’s drill program were to systematically grid drill
and extend known gold prospects, while al so testing a dozen new semi-regional stru ctural-stratigraphic targets. Although
still less than a quarter of drill core from the winter program ha s been assayed, the first part of this strategy is clearly
delivering at Raja, with further high-grade mineralization discovered including 5.0 metres @ 12.4 g/t gold in PAL0118
lying 140 metres down-plunge from 10.9 metres at 21.0 g/t gold in PAL0093.”
“In addition, we have drill discovered significant gold mine ralization at five other prospects that were defined within
Mawson’s extensive geophysical, geochemical and geological datasets across the 12 square kilometre Rajapalot project. We
are excited to have increased the mineralized footprints of each of these prospects, while receiving validation of the targeting
methods developed by our technical team in the search for gold under thin glacial cover.”
A plan view of the drill results and named prospects is provided in Figure 1. Cross and longitudinal sectional views and
prospect plan views are included in Figures 2–9. Tables 1–3 include all relevant collar and assay information. Assuming a
predominant stratabound control, the true thickness of the mineralized interval is interpreted to be approximately 90% of
the sampled thickness. Intersections are reported with a lower cut of 0.5 g/t gold over 2 metre lower cut, no upper cut-off
was applied.
Raja Prospect
Drilling of known prospects has been successful in delineating further extensions to known gold areas, in particular at the
Raja prospect where over 470 metres of down plunge gold mineralization has been tested. Mineralization is unconstrained
down-plunge and partly across strike. The go ld mineralization contains sufficient associated sulphide to form an electrical
conductor, and examination of VTEM geophysical data indica tes a down-plunge extent from surface of over 900 metres.
The structurally-controlled mineralized footprint trends approximately 340 degrees and is oblique to the surface orientation
of the host strata. Highlights include:
Gold mineralization at Raja now has a down-plunge extent of over 470 metres and remains open down plunge and
partly across strike (Figures 2–6).
PAL0118 intersected 5.0 metres @ 12.4 g/t gold from 381.0 metres (Figure 2) within a broader mineralized
zone of 23.1 metres at 3.4 g/t gold (no lower cut) from 368.1 metres. A separate intersection in PAL0118
intersected 7 metres at 2.8 g/t gold from 322 metres;
PAL0118 was drilled 120 metres down plunge to the NNW of prior high-grade intersections including PAL0093
with 31.7 metres @ 8.4 g/t gold from 244.1 metres. See Mawson News Release March 01, 2018 and Figures 3
and 5.
PAL0097 intersected 7.7 metres @ 1.5 g/t gold from 256.6 metres (Figure 3) within a broader mineralized zone
of 40.3 metres at 0.8 g/t gold (no lower cut) from 256.6 metres. PAL0097 was drilled 30 metres across strike
to the east of PAL0093, suggesting structural controls, yet to be fu lly understood, play a large control in grade
distribution. Additional drilling is required to determine th e extent and grade distribution of gold mineralization in
this area (Figure 6).
Gold mineralization coincides with a conductor from geophysical airborne VTEM data with a down-plunge extent of
over 900 metres;
Rumajärvi Prospect
Drilling at Rumajärvi prospect (Figure 7; PAL0109) intersected 7.4 metres at 2.4 g/t gold from 15.6 metres to the
north of PAL0037 which intersected 56m @ 0.53 g/t gold with no lower cut, see Mawson News Release March 06, 2017. A
new interpretation of VTEM line data in dicates undrilled conductive targets over 100 metres deep to the east of current
drilling, apparently along strike from the Terry’s Hammer intersection above. Further geophysical modelling of geophysical
data is required to define the shape and size of this target.
Palokas Prospect
At Palokas (Figure 8), drill hole PAL0110 intersected 4.7 metres at 2.5 g/t gold from 37.6 metres. This hole was drilled
at the southern margin of the Palokas prospect and extends mineralization 30 metres further south towards South Palokas.
Terry’s Hammer Prospect
Drilling at Terry’s Hammer (Figure 9) intersected 4.7 metres at 2.1 g/t gold from 65.7 metres in PAL0099, the first
large diameter drill test of a combined remanent magnetic /chargeable/conductive anomaly comprising gold-bearing
sulphidic rocks in outcrop. This hole opens up the potential of a new area between South Palokas and Rumajärvi.
The Hut Prospect
A similar remanent magnetic/chargeable/conductive anomaly was targeted (PAL0126) at The Hut (Figure 9), and the first
hole into this target intersected gold-bearing sulphides (0.8 metres at 0.6 g/t gold) before the hole was abandoned at 8.9
metres. This drill hole was the first large diameter drill test of a combined remanent magnetic/chargeable/conductive
anomaly at the Hut prospect. The hole was stopped at 8.9 me tres when drilling ceased at Rajapalot (see Mawson News
Release March 23, 2018). Nevertheless, the hole intersected pyrite- and pyrrhotite-bearing mineralized rocks below a thin
cover of glacial till.
General Observations
Structural interpretation of new drill core indicates a previously unrecognized early folding event causing regional inversion
of the stratigraphy during F1 isoclinal folding. This effe ctively doubles the available volume of reactive rocks to the
hydrothermal gold mineralizing event. The recognition of this early F1 folding event combined with our geophysics data has
been instrumental in creating targets along strike to the east and of the Raja prospect and to the northeast of Palokas.
Drilling continues at these targets.
Much of the mineralization at Rajapalot consists of sulphide (pyrrhotite>>pyrite), magnetite, biotite, muscovite and chlorite
hydrothermal mineral assemblages hosted in predominately grey albitites and muscovite- biotite schists. Iron-and
magnesium-rich hydrothermally altered sulphidic rocks are abun dant at Palokas, and form local pods or structurally
controlled void infills at other prospects. Textures range from veined albitic granofels through fractured and brecciated to
locally schistose. Veining and fracture fill minerals include pyrrhotite, magnetite and magnetite-pyrrhotite (+/- quartz). Local
retrograde chlorite after biotite and vein-controlled chlorite+/- tourmaline and magnetite are also present. Preliminary hand-
held XRF analysis confirms the presence of associated scheelite and molybdenite, the former visible under UV light as tiny
veinlets and disseminations. The iron-rich nature of the mineralized rocks is a common theme in either the oxide or sulphide
form, with a variably sulphidic and chloritic overprint. The alteration is clearly post-metamorphic, reduced, and most likely
driven by granitoid intrusions. Chlorite is regarded as the lowest temperature silicate mineral with gold, structurally
controlled in apparent spatial association with quartz and/or K-feldspar ve ins. Altered rocks enclosing the mineralized
package contain locally abundant talc and tourmaline.
Of the 59 holes drilled during the winter program for a total of 13,079 to date, a total of 44 diamond drill holes for 9,838
metres were completed within the Kairamaat 2/3 exploration permit this winter. The Kairamaat 2/3 permit is currently
granted but not in legal force while appeals are being heard and therefore drilling ceased this winter three weeks earlier
than planned on March 23. The Company is again working with all relevant authorities to be back drilling in Kairamaat 2/3
next winter (late 2018). Three drill rigs continue drilling today at the adjacent Hirvimaa and Raja exploration permit areas
and drilling will restart during the 2018 summer at Hirvimaa, Mannisto and Raja exploration permit areas.
Technical and Environmental Background
Five diamond drill rigs from the Arctic Drilling Company OY (“ADC”), Oy Kati Ab (“Kati”) and MK Core Drilling OY (“MK”), all with water
recirculation and drill cuttings collection sy stems were used for the drill program. Co re diameter is NQ2 (50.7 mm) or WL76 (57 .5mm)
diameter core. Core recoveries were excellent and average close to 100% in fresh rock. After phot ographing and logging in Mawso n’s
Rovaniemi facilities, core intervals averaging 1 metre for minera lized samples and 2 metres for barren samples were cut in half at the
Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference
purposes. Analytical samples were transported by Mawson personne l or commercial transport from site to the CRS Minlab Oy facili ty in
Kempele, Finland. Samples were prepared an d analyzed for gold at Kempele using the PAL1000 technique which involves grinding th e
sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment.
The QA/QC program of Mawson consists of the systematic insertio n of certified standards of known gold content, duplicate samples by
quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical
process.
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 Mar 01, 2018in, 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. Forwar d-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 forwar d-looking statements are not guar antees of future results or p erformance, 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 meta l markets, changes in equity markets, planned drill programs a nd results varying 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, envi ronmental and safety risks, and other risks and uncertainties dis closed 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 laws, Mawson disclaims any intent or obligation to upd ate any forward-looking
statement, whether as a result of new information, future events or results or otherwise.