Mawson Expands Exploration Search Radius in Finland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE June 29, 2022
Mawson Expands Exploration Search Radius in Finland
Vancouver, Canada — Mawson Gold Limited (“Mawson”) or (the “Com pany”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) announces updates to its exploration strategy expanding the sea rch radius to encompass a
large prospective, but untested, area of its 18,000 ha 100% owned-Rajapalot gold-cobalt project in northern Finland.
Highlights:
Majority of Mawson’s 18,000 ha land package is underexplored
Search radius to be expanded to encompass an approximate 5,000 ha area between 1 Moz AuEq
Rajapalot inferred resource, and the ~10 km long subcropping Rompas system which reported a
drilling highlight of 6 m at 617 g/t Au (Figure 1)
Drone and ground based magnetic surveys have recently been unde rtaken to identify structural
controls dated 1.78-1.8 billion years, responsible for ~5 Moz Au in recent Finnish discoveries
Follow-up testing of the basement rocks immediately beneath sha llow till by BOT drilling, with
permitting in progress
Mr. Fairhall, CEO, states “Whilst we are busy pulling together the PEA over Rajapalot, we are challenging our
geologists to make the next million ounce discovery. Mawson con trols a large land package in Lapland, with
material discoveries on the eastern and western edges of the pr operty. Nevertheless, huge swathes of the
project remain undrilled and under explored due to a thin veneer of glacial sediments that average 3-5 metres
thick covering 99% of the tenured area. The recently completed magnetic surveys allow us to efficiently
identify the most prospective host rocks for more detailed inve stigation; the same rocks have delivered
approximately 5 Moz of gold discoveries in Finland in recent years, including over 1 Moz AuEq already on the
property”.
Over the last three years Mawson’s knowledge of the age of structural control of mineralization has improved significantly
through systematic analysis of its 1 Moz AuEq Rajapalot inferre d resource, its Rompas discovery (Figure 1), as well as
knowledge gained through peer discoveries such as Rupert Resources 3.9 Moz Au Ikkari. Age data on these three significant
discoveries indicates commonality with a Lapland-wide regional gold mineralization event dated 1.78-1.80 Ga. Furthermore,
dating has shown that this is not just a Nordic gold event, rather it is part of significant worldwide gold mineralizing period
that includes the Homestake in South Dakota, USA and Callie in the Northern Territory, Australia.
Mawson has a significant land holding and untested anomalies in the 5,000 hectares between the Rajapalot resource area
and the 10 km long Rompas gold system (Figure 1), where it beli eves there are zones of this same host coincident with
significant structural intensity (a key gold precipitation driv er). To efficiently evaluate the potential of this large area, a
drone-based aeromagnetic survey (outlined red area in Figure 1) has just been completed with results expected in the next
few weeks. Mawson geoscientists will take these new drone aerom agnetic data and combine it with ground-collected
magnetic data to produce a detailed structure-hosted mineraliza tion target map focusing follow up exploration efforts.
Initially this will involve sampling the upper surface of the b asement rocks immediately beneath shallow till, using a
technique known as base of till drilling (“BOT”). BOT drilling is a proven technique in Fennoscandia, and was the critical
breakthrough in the Ikkari discovery, which was the result of f ollowing up “a single anomalous base of till sample of 0.2
ppm Au”.
Technical Background and Qualified Person
The Qualified Person, Dr Nick Cook, Chief Geologist of Mawson G old, 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.
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 its 100% owned flagship Rajapalot gold-cobalt project in Finland, and right to earn into the Skellefteå North gold project
in Sweden. Mawson also owns 60% of Southern Cross Gold Ltd (ASX:SXG) which in turn owns three high-grade, historic epizonal goldfields
covering 470 km2 in Victoria, Australia.
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.
Figure 1: Finland existing magnetic data in context of Rajapalot and Rompas discoveries