Mawson Geophysical Survey Doubles Raja GOLD-Cobalt Prospect IN Finland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE NOVEMBER 26, 2018
MAWSON GEOPHYSICAL SURVEY DOUBLES RAJA GOLD-COBALT PROSPECT IN FINLAND
Vancouver, Canada – Mawson Resources Limite d (“Mawson”) or (the “Company”) (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces promising electromagnetic survey results from the Raja prospect
and updates the progress of geophysical surveys within th e Company’s 100% owned gold-cobalt Rajapalot project in
northern Finland.
Multiple geophysical surveys are ongoing at the Rajapalot area with fixed-loop transient electromagnetic (“TEM”) designed
to refine winter resource extension drilling and constrain airborne VTEMplus electromagnetic anomalies (“VTEM”); induced
polarization (“IP”) to target new near-surface gold-cobalt mineralization (Figure 1); and mise-á-la-masse (“MALM”) to define
mineralization in subcrop and demonstrate continuity of mineralized bodies.
Key Points:
TEM surveying completed to date has discovered a strongly conductive body to the north of Raja, that corresponds
closely with known mineralized drill intercepts ( including drillhole PAL0093 : 33.6 metres @ 9.4 g/t Au Eq (“gold
equivalent”), 8.0 g/t gold, 823 ppm cobalt from 243.0 metres) , and extends 550 metres down plunge beyond the
drilled area. The conductive body more than doubles the Raja mineralization footprint to more than 1 kilometre (Figures
1 & 2) and remains open down plunge;
This conductive body and other extensions to Raja will be tested within a planned 15,000 metre drill program that will
begin in January (subject to final permitting);
TEM surveying continues at Raja to map the northern exte nsion of the conductive body. Surveying will then define
sources of strong airborne VTEM anomalies (Figure 1) along the 2 kilometre trend from the Rumajärvi, Hut and Palokas
prospects;
MALM surveys at Raja have located anomalies associated with drilled mineralization that demonstrate mineralization is
coherent over a 450-metre strike length and supports the north-west extensions identified by TEM data (Figure 3);
In-fill gradient array IP surveys at 50 metre line spacing continue to be a valuable tool and have revealed an undrilled
low resistivity target with the same characteristics as dr illed mineralization immediately west and parallel with Raja
(Figures 4 and 5);
Mr. Hudson, Chairman and CEO, states, "Gold-cobalt mineralized zones at Rajapalot form excellent conductive targets which
allows us to geophysically identify potentially mineralized areas at depth and increase the confidence of our drill targeting.
A key result to date is the doubling of the conductive body associated with Raja mineralization, delivering an untested target
with more than 500 metres down-plunge extent from high grade gold intersections. Geophysical surveying is ongoing along
the 3.5 kilometre Rajapalot mineralized trend, in preparation for an exciting 15,000 metre winter drill campaign, scheduled
to start in January 2019 (subject to final permits).”
Electromagnetic techniques, first used in 2013 by Mawson at Rajapalot with a helicopter-borne VTEMplus survey indicated
the conductive nature of areas subsequently discovered to be the Palokas, South Palokas, The Hut, Terry’s Hammer,
Rumajärvi and Raja prospects (Figure 1). The broad scale of the line spacing (100 metres) and the low current induced in
the ground from the VTEMplus survey requires follow-up with ground TEM su rveys to accurately locate conductors to the
accuracy of a drillable target. TEM surveys have already more than doubled the 450 metre long Raja prospect to greater
than 1 kilometre down plunge. The Raja conductive body corresponds with known mineralization ( including drillhole
PAL0093: 33.6 metres @ 9.4 g/t Au Eq (“gold equivalent”), 8.0 g/t gold, 823 ppm cobalt from 243.0 metres) , and then
continues to at least 1 kilometre depth with increasing conductivity and remains open. It appears the northern extensions
of Raja may coalesce with the Hut prospect VTEM conductor at depth.
The complex nature of the resistivity and chargeability data obtained from the 50-metre line spacing on the gradient array
survey is evident in Figures 4 and 5. So-called “negative IP” effects are clear with a low forming directly over the subsurface
projection of the conductor – these effects are typically record ed in areas of multiple conductors and large contrasts in
physical parameters. The strong target some 250 metres to the west of Raja lies within a fold hinge and displays the same
complex chargeability and conductivity featur es of the Raja prospect. This target will be tested in the forthcoming drill
program commencing in January 2019 (subject to final drill permitting).
Technical Background
The IP-resistivity, electromagnetic and MALM surveys were conducted by two and three person teams from GeoVista AB (based in Luleå,
Sweden). Line orientations for this program were matched with prior survey parameters. Post-collection processing and inversions of the
data are completed by Dr Hans Thunehed of GeoVista AB.
The qualified person for Mawson's Finnish projects, Dr. Nick Cook, President for Mawson and Fellow of the Australasian Institute of Mining
Metallurgy has reviewed and verified the contents of this release.
The gold equivalent (Au Eq) value was calculated using the following formula: Au Eq g/t = Au g/t + (Co_ppm/608) with assumed prices
of Co $30/lb; and Au $1,200/oz.
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 Rajapalot gold-cobalt project 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 3: Plan view of mise-á-la-masse (“MALM”) surveys at the Raja prospect have defined subcropping mineralization and support the north-west
extensions seen in the TEM surveying. This survey demonstrates mineralization is a coherent body along the drilled 450 metre strike length.