Mawson Options Large Epithermal GOLD Project IN the USA, Commences Drilling
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE NOVEMBER 05, 2018
MAWSON OPTIONS LARGE EPITHERMAL GOLD PROJECT IN THE USA, COMMENCES DRILLING
Vancouver, Canada – Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) is pleased to announce the Company has signed Exploration and Option Agreements for one of the
largest areas prospective for epithermal gold in the lower mainland USA (150,500 hectares) from an arm’s length private
landholder (the “Landholder”).
While Mawson shall maintain a sharp focus on its flagship Rompas-Rajapalot gold-cobalt project in Finland where preparation
for a substantial winter drilling program is well advanced, this new Western USA project (“the WUSA project”) presents the
opportunity for rapid progress and discover y in an alternate jurisdiction. Dependent on results, the WUSA project is being
explored with a view to potential future joint venture, strategic alliance, or corporate transaction.
Key Points:
Mawson has optioned one of the largest areas for exploration in mainland USA (150,500 hectares or approximately 56
kilometres x 39 kilometres) from a private landholder (Figure 1). The option area lies in the central Western Cascade
Ranges of Lane and Douglas Counties, Oregon, USA;
Due to long term ownership by a single landholder, the region has remained largely unexplored and behind locked
gates for more than 150 years;
The WUSA project is highly prospective for high and low sulphidation epithermal gold systems, and lies adjacent to a
19th century gold rush area. Modern-day placer mining is still being undertaken in the optioned area;
Three gold prospects for immediate follow up have been defined to date:
1. Scorpion-Cinnabar
A 2.2 km long and up to 400-metre-wide zone where soil geochemical samples regularly exceed 1g/t Au (up
to 5.51g/t Au) (Figure 2). These gold anomalous soils lie above highly acid altered rocks. The prospect has
never been drilled.
2. Huckleberry
A series of siliceous ridges which trend over 3 kilometr es, with high sulphidation vuggy silica textures and
acidic steam vents that outcrop for 1,000 metres. Geochemically anomalous rock samples with Sb, As, Hg, Bi,
Mo are coincident with classic epithermal alteration zones (alunitic, silicification, argillic and propylitic) (Figures
3-6). The prospect has never been drilled.
3. Walker Creek
A high-level maar-type low sulphidation epithermal syst em developed over an area of more than 3 square
kilometres. The only prospect area previously drill te sted, where 10 vertical RC holes have intersected
anomalous gold over significant intervals.
Work to date by Mawson on the WUSA project has consis ted of mapping, soil sampling, regional stream sediment
sampling and ground magnetic geophysical surveying.
A reconnaissance 2,000 metre diamond drill program has just commenced at the Huckleberry and Scorpion prospects.
Mr. Michael Hudson, CEO, states: “Mawson is always on the look-out for high qua lity projects in attractive jurisdictions that
complement our exploration in Finland. The WUSA project is certainly one of these projects, presenting a unique opportunity
to explore one of the largest contiguous gold-prospective areas in mainland USA. The project has escaped significant modern
exploration as it has sat behind locked gates for the last 150 years, and now delive rs Mawson a new epithermal exploration
frontier in a first world country. Should significant gold be found in the upcoming drill program, we will review the opportunities
for a joint venture, strategic alliance, or corporate transaction to create optionality and further value for shareholders.”
The WUSA Project lies in the central Western Cascade Ranges of Lane and Douglas Counties, Oregon, USA and consists of an
area of interest of 150,500 hectares (“Exploration Agreement Area”), of which 68,075 hectares of mineral and land rights (“fee-
simple land”) are held by the Landholder. Also, within the Exploration Agreement Area are smaller areas of mineral rights
owned by the Landholder (1,447 hectares), the Bureau of Land Management (“BLM”) claims held by the Landholder (333.1
hectares) and directly by Mawson (142.2 hectares) (Figure 1).
The Cascade Range in Oregon is underlain by Eocene to Holoce ne intermediate to felsic volcanics and volcaniclastics rocks
erupted along the western margin of North America. Immediately adjacent to Mawson’s 150,500 hectare WUSA project lies a
well-mineralized district containing multip le mineral deposits including polymetallic veins (Bohemia, a gold-rush mining area
discovered in 1858) and a historic hot-spring style mercury mines. Placer mining is still undertaken within the option area.
The WUSA Project consists of an underexplored, telescoped high level caldera complex with significant gold potential. Prior to
Mawson’s involvement, only sporadic regional stream sediment and soil samples were collected, and one small area at Walker
Creek drill tested. Epithermal precious-met al vein deposits identified to date within the option area include the Scorpion,
Huckleberry and Walker Creek prospects with new anomalous st ream sediment catchment areas identified but yet to be
followed up.
Scorpion is a 2.2 km long by up to 400-metre-wide area where soil geochemical samples regularly exceeding 1g/t Au. These
gold enriched soils overlie highly acid altered rocks with up to 5.51g/t Au, however a bedrock gold-mineralized source has not
yet been identified (Figure 2). The prospect has never been dr ill tested and Mawson plans to drill three 400 metre long drill
holes to test below the gold anomalous zones. Mineral tenure at Scorpion consists of fee-simple land held by the Landholder.
Drill permits have been received from the Oregon Department of Geology and Mineral Industries (“DOGAMI”).
Huckleberry is a high sulphidation gold prospect with an area of intense hypogene acid sulphate (quartz, alunite, clay) alteration
known in outcrop for 1,000 metres along strike (Figures 3-6). A northeast trending shear zone over 1,600 metres long and up
to 300 metres wide forms the core of the prospect area, and is associated with strong As, Sb, Hg, Bi, Mo anomalism and argillic
and silica-alunite alteration. The prospect has never been drilled and Mawson proposes to drill two 400 metre long drill holes
to test for buried targets at deeper structural levels. Tenure at Huckleberry is comprised of areas of landholder mineral rights
plus areas of claims placed by Mawson and the Landholder on public land administered by the BLM. Drill permits have been
received from both the BLM and DOGAMI.
The Walker Creek prospect consists of a maar-type hydrotherm al vent with adularia associated low sulphidation gold
mineralization and corresponding Ag, Hg and Sb. Work conduc ted in early 1990’s by the Landholder consisted of detailed
mapping, surface sampling and drilling. Ten vertical reverse circulation (“RC”) holes drilled in the early 1990’s by the Landholder
intersected thick intervals of anomalous gold with better intersections including 12.2 metres @ 1.3g/t gold and 6.1 metres @
1.2g/t gold. Although Mawson has no immediate plans to drill at Walker Creek, the prospect requires further drilling to target
structural controls. Tenure at Walker Creek consists of both fee-simple land and BLM land claims.
Three agreements have been signed with the Landholder to pr ovide access and secure 100% of the mineral rights for the
WUSA project subject to certain royalty clauses. Mawson has the right to explore the project initially for three years and must
incur costs of US$500,000 of in-the-ground expenditures and lease payments of US$100,000 in Year 1 before electing to
continue onto further years of exploration.
Technical Background
The qualified person for Mawson's Finnish projects, Dr. Nick C ook, President for Mawson and Fellow of the Australasian Institute 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 has distinguished itself as a leading Nordic Arctic exploration
company with a focus on the flagship Rompas-R ajapalot gold cobalt project in Finland. Idea Drilling are conducting the diamond drilling
producing oriented NQ diameter (46.7 mm) diamond drill core.
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 securities 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 as surance that such expectations will prove to be correct. Forward-looking statement s are typically identified by
words such as: believe, expect, anticipate, intend, estimate, postul ate, 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 result s or performance, and that act ual 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, planned drill programs and results varying from expectations, delays in obtaining
results, equipment failure, unexpected geological conditions, loca l community relations, dealings with non-governmental organiz ations, delays in operations
due to permit grants, environmental and sa fety risks, and other risks and uncertainties disclosed under the heading "Risk Facto rs" in Mawson's most recent
Annual Information Form filed on www.sedar.com. Any forward-looking statemen t speaks only as of the date on which it is made an d, except as may be
required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whet her as a result of new
information, future events or results or otherwise.