Mawson Names Ivan Fairhall as New Chief Executive Officer
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE SEPTEMBER 07, 2021
MAWSON NAMES IVAN FAIRHALL AS NEW CHIEF EXECUTIVE OFFICER
Vancouver, Canada – Mawson Gold Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS:MWSNF) is pleased to announce the appointment of Mr. Ivan Fairhall as the Company’s Chief Executive
Officer (“CEO”), effective immediately. Mr. Michael Hudson, who has served as the Company’s CEO since March 2004, will
continue to serve as a director and the Company’s Executive Chairman.
Key Points:
• Ivan Fairhall, an engineer and mine finance professional has been appointed as Mawson’s CEO;
• Michael Hudson, who ha s served as the Company’s founding CEO since March 2004, will continue to serve as a
director and as the Company’s Executive Chairman;
• Increasing the skill base of company is reflective of the transition of Mawson’s Finnish assets from exploration to
pre-development;
• The Company also announces the commencement of an internal corporate strategic review to identify, examine
and consider opportunities related to its Australian assets in order to enhance shareholder value.
The appointment of Mr. Fairhall reflects the need for the Company to add additional mine development expertise , as its
projects in Finland transition from advanced exploration to pre -development. Mr. Fairhall brings substantial operating,
finance and capital markets experience to the role. The Board of Mawson would like to thank Mr. Hudson for his exceptional
service as CEO since co-founding the Company in 2004, and look forward to his on-going leadership as Executive Chairman.
Mr. Michael Hudson, Executive Chairman, states: “We are delighted to have Ivan join Mawson’s team. I have worked with
Ivan at various points over the last 10 years and know he is very well placed to lead Mawson as the Company pivots towards
the dual focus of resource expansion and pre-development in Finland. At the same time , we will soon outline the
opportunities that exist for our Australian exploration assets via our strategic review. I truly look forward to working closely
with Ivan as we embark on the next stage of the Company’s growth.”
Mr. Fairhall, CEO, states: “I’m very pleased to be joining Mawson and leading the company through its most exciting stage
yet. Rajapalot is growing rapidly with gold contained in resources up over 47% and grades up 19% in less than 12 months,
and I believe Mawson has only just scratched the surf ace of what is clearly emerging as a gold camp of scale.
Notwithstanding this huge growth potential, with over 1m oz AuEq now in resources , Rajapalot is now of a scale that
justifies necessary work to chart its course to be a mine . I look forward to working with the board and management to
unpack the multiple value opportunities for our shareholders.”
Mr. Fairhall is a mechanical engineer and mine finance professional with over 15 years of mining industry experience. He
has worked in design, construction and commissioning roles, and has considerable experience managing pre-development
studies across the commodity and geographic spectrum. Since 2014, he has been with Greenstone Resources, a private
equity fund with almost US$500m under management based in London. Greenstone's strategy is to invest in development
stage companies with robust projects that can be funded through to production standalone. As Senior Investment Manager,
Ivan was integral in sourcing, executing and managing a portfolio of Greenstone's investments, which included Northern
Vertex (TSXV:NEE), a 50koz gold producer in USA - for which he was also a non-executive director up until its merger with
Eclipse Mining in 2021. Mr. Fairhall holds a B.Eng (Hons, Mech) and a B.Bus, and is a Chartered Engineer with the Institute
of Mechanical Engineers.
Concurrently, given the advancement of the Company’s Finnish assets, and recent gold discoveries made in Australia by
the Company , Mawson has commenced an internal corporate strategic review to identify, examine and consider
opportunities related to its Australian assets in order to enhance shareholder value . Results from the review will be
announced towards the end of Q3 2021.
About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Gold Limited is a gold exploration and development company and has distinguished itself as a leading exploration company with
a focus on the flagship Rajapalot gold-cobalt project in Finland and its Victorian gold properties in Australia.
Mawson’s flagship is the 100%-owned Rajapalot gold-cobalt project, located just south of the Arctic Circle in Finnish Lapland. At Rajapalot
the Company has made a significant greenfield discovery and on 26 August 2021 published an updated Inferred Mineral Resource. The
updated resource estimation was completed by Eemeli Rantala, AFRY – P.Geo, Ville-Matti Seppä, AFRY – EurGeol of Finland and Craig
Brown, Mining Associates Pty Ltd – FAusIMM of Australia. All authors are independent “qualified persons” as defined by NI 43-101. The
NI 43-101 technical report is entitled “Mineral Resource Estimate NI 43 -101 Technical Report — Rajapalot Property” and is available
under Mawson’s profile on SEDAR at www.sedar.com and on Mawson’s website at www.mawsongold.com
The August 2021 base case open pit and underground constrained Inferred Mineral Resource was estimated at 10,907,000 tonnes @ 2.5
g/t gold (“Au”), 443 ppm cobalt (“Co”), which equates to 3.0 g/t gold equivalent (“AuEq”) for 887,000 ounces (“oz”) Au or 1,041,980 oz
AuEq. The AuEq value was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/1005) and using a gold price of US$1,590
per ounce and a cobalt price of US$23.07/lb. Mineral Resources are stated at a 0.3 g/t AuEq open pit cut-off and 1.1 g/t AuEq underground
cut-off from five block models comprising 8 prospects.
The 2021 base case resource increases gold grade by 19% (AuEq grade by 12%) and contained gold ounces by 47% (c ontained gold
equivalent ounces by 35%) as compared to the previous Rajapalot resource estimation published on September 14, 2020.
Qualified Person
The Qualified Person, Dr Nick Cook, Mawson’s Chief Geologist, and a Fellow of the Australasian Institute of Mining and Metallurgy, has
reviewed and verified the technical contents of this release.
On behalf of the Board,
"Michael Hudson"
Executive Chairman
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 forward -looking information within the meaning of applicable Canadian securities laws
(collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements and are based
upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access
financing, appropriate equipment and sufficient labor. Forwa rd-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 ca utions 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; changes in equity markets; ability to achieve goals; that the political environment in which the Company operates wi ll 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 the mining industry in general; reliance on a singl e asset; planned drill programs
and results varying from expectations; 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 disclose d under the heading "Risk Factors" in
Mawson's most recent Annual Information Form filed on www.sedar.com. While these factors 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