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SXGC.TO ·

Mawson Group Joins the European Raw Materials Alliance

Partnerships & JV

1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7

Phone: +1 604 685 9316 / Fax: +1 604 683 1585

NEWS RELEASE OCTOBER 08, 2020

MAWSON GROUP JOINS THE EUROPEAN RAW MATERIALS ALLIANCE

Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR)

(PINKSHEETS: MWSNF) is pleased to announce it has been invited to join the European Raw Material Alliance (“ERMA”).

The newly established ERMA aims to make Europe economically more resilient by diversifying its supply chains, creating

jobs, attracting investments to the raw materials value chain, fostering innovation, training young talents and contributing

to the best enabling framework for raw materials and the Circular Economy worldwide.

The Alliance addresses the challenge of securing access to su stainable raw materials, advanced materials, and industrial

processing know-how. By 2030, ERMA’s activities will increase the production of raw and advanced materials and address

Circular Economy by boosting supporting Europe’s raw materials industry capability, to extract, design, manufacture and

recycle materials. By 2030, ERMA’s activities aim to increase the production of raw and advanced materials and address

Circular Economy by boosting the recovery and recycling of Critical Raw Materials.

ERMA is coordinated by the EIT RawMaterials Knowledge and Innovation Community. EIT RawMaterials was initiated and

founded by the European Institute of Innovation and Technolo gy (“EIT”), a body of the European Union, and the largest

consortium in the raw materials sector worldwide. EIT’s vision is to develop raw materials into a major strength for Europe.

Its mission is to enable sustainable competitiveness of the European minerals, metals and materials sector along the value

chain by driving innovation, education and entrepreneurship.

EIT RawMaterials unites more than 120 core and associate partners and over 180 project partners from leading industries,

universities, research and technology organisations from more than 20 EU countries. Partners of EIT RawMaterials are

active across the entire raw materials value chain: from exploration, mining and mineral processing to substitution, recycling

and circular economy. They collaborate on finding innovative solutions to secure supplies and strengthen the raw materials

sector in Europe.

Michael Hudson, CEO, states: “The EU has identified raw materials as a key enabler for a globally competitive, green, and

digital Europe. Mawson’s 100% owned Rajapalot project in Finland is a significant and strategic gold-cobalt growing resource

and one of Finland’s largest gold resources by grade and contained ounces and one of a small group of cobalt resources

prepared in accordance with NI 43-101 policy within the EU. Consequently, the project has the potential to support Finland’s

and the EU’s desire to source ethical and sustainable cobalt and Mawson is a proud founding member of the ERMA network.”

Qualified Person

Mr. Michael Hudson (FAusIMM), 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.

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 a focus on the flagship Rajapa lot gold project in Finland. Its Australian gold assets provide Mawson with a strate gic 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.mawsongold.com

1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7

Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316,

[email protected]

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, the Company’s expectations and timing of the resource

expansion and definition program at Rajapalot, Finland, the Co mpany’s expectations regarding the Alliance, capital and other co sts

varying significantly from estimates, change s in world metal markets, changes in equity markets, the potential impact of epidem ics,

pandemics 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 result s varying from expectations, delays in ob taining results, equi pment failure, unexpec ted

geological conditions, local community relations, dealings with non-governmental 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.