Mawson Selected to Participate IN the Batcircle Consortium Finland, Total R&D Funds of CAD$756k
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE MARCH 26, 2019
MAWSON SELECTED TO PARTICIPATE IN THE BATCIRCLE CONSORTIUM FINLAND, TOTAL
R&D FUNDS OF CAD$756k
Vancouver, Canada – Mawson Resources Limite d (“Mawson”) or (the “Company”) (TSX:MAW,
Frankfurt:MXR, PINKSHEETS: MWSNF) announces participation in the Finland-based Battery Materials
(“BATCircle”) research and development (“R&D”) consortium, providing recognition that Mawson’s 100% owned
Rompas-Rajapalot project is a significant and strategic gold-cobalt growing resource for Finland.
Highlights:
Mawson selected to be a participant of Finland’s BA TCircle consortium, a program designed to value-add
to the Finnish battery metals circular economy;
R&D funding for the BATCircle research project fo r Mawson’s Rompas-Rajapalot project is €500,000
(CAD$756k) including the Company’s contribution of €250,000 (CAD$378k) on a 50:50 funding basis to
conduct advanced exploration and metallurgical studies on the Rompas Rajapalot gold-cobalt project;
Mawson’s Rajapalot project is a significant and strategic gold-cobalt resource for Finland with the maiden
resource positioned as one of Finland's current to p three 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 Europe.
Michael Hudson, CEO states, "Mawson’s Rajapalot project is a strategic gold-cobalt project for Finland and we are
honored to participate in the BATCircle consortium. Equall y, we are encouraged by the vision of Business Finland
to stimulate the dominant and growing role Finland plays in a modern and sustainable supply chain for battery
metals. The battery supply chain, through to the customer, is demanding sustainable and ethically sourced metals
and minerals, and the Finnish ability to deliver against these demands is a unique and competitive advantage.”
BATCircle was founded under the leadership of Aalto University to coordinate research on the battery metal
circular economy from exploration to re cycling. BATCircle includes 22 companies, four universities, two research
institutes and two cities. Th e project is biennial and has a total budg et of over €20 million. According to the
European Commission (“EC”), the value of the European battery market could rise to €250 billion by 2025. The
goal of the BATCircle project is to enable the creation of a market of least €5 billion in Finland.
Cobalt is a key component in the cathode of most lithium-ion batteries an d is considered crucial in the switch to
electric mobility and greener generation and storage of en ergy. Trends cumulatively indicate there is a major
supply risk across the battery metal space, particularly ac ross Europe where cobalt is on the EC’s critical raw
minerals list, delivering a strong mandate to discover and develop local and ethically produced supply alternatives.
The R&D funding for the Mawson’s Rompas-Rajapalot proj ect in BATCircle joint research project is €500,000
(CAD$756k) to conduct advanced explor ation and metallurgical studies on the Rompas Rajapalot gold-cobalt
project on a 50:50 funding basis.
Rajapalot is a significant and strategi c gold-cobalt resource for Finland with the maiden resource positioned as
one of Finland's current top three gold resources by grade and contained ounces and one of a small group of
cobalt resources prepared in accordan ce with NI 43-101 policy within Euro pe. Finland refines half the world's
cobalt outside China. The world's largest cobalt refi nery is located 400 kilometr es south of Rajapalot,
2
where CRU estimates annual refining of 22,734 tonnes of cobalt (approximately 18% of world refined cobalt
production), 90% of which was sourced from Chinese-owned mines in the Democratic Republic of Congo. Finland
mines only 650 tonnes or 0.5% of the world's cobalt per year. The Rajapalot resource has the potential to support
Finland's desire to source ethical and sustainable cobalt.
Technical Background
The qualified person for Mawson, Dr. Nick Cook, President for Maws on and Fellow of the Australasi an Institute of Mining Metallu rgy 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 with a focus on the resource expansion of its high-grade Rajapalot
gold-cobalt in Finland. Mawson has distinguished itself as a leading Nordic Arctic exploration company.
Rajapalot is a significant and st rategic gold-cobalt resource for Finland with th e recently published maiden resource already p ositioned as
one of Finland's current top three gold resources by grade and co ntained ounces and one of a small group of cobalt resources pr epared in
accordance with NI 43-101 policy within Europe. A pit and undergr ound Constrained Inferred Mineral Resource of 424,000 ounces o f gold
equivalent ("AuEq") at 3.1 g/t AuEq (4.3 million tonnes at 2.3 g/t Au, 430 ppm Co) at 0.37 g/t AuEq cut-off open pit and 2 g/t AuEq
underground was calculated, within a combined Unconstrained Infe rred Mineral Inventory for the Palokas and Raja prospects of 48 2,000
ounces AuEq at a grade of 2.4 g/t AuEq (6.2 million tonnes at 1.7 g/t Au, 410 ppm Co) at 0.4 g/t AuEq cut-off. The constrained resource
demonstrates the high-grade of Rajapalot with open-pittable grades of 2.8 g/t AuEq (2.1 g/t Au and 420 ppm Co) and underground grades
of 5.2 g/t AuEq. The calculation represents the first resource estimate for the Rajapalot Gold-Cobalt Project and has substantial potential to
grow, with only 20% (800 metres) of the 4 k ilometres known mineralized trend included wi thin the maiden resource to relatively shallow
depths (average depth of drilling 88 metres within 34.2 kilometres drilled to date at Rajapalot)
NI 43-101 Technical Report:
On December 19, 2018, Mawson filed an independent National In strument 43-101 Technical Report (the “NI 43-101 Technical Report”) on
the Mineral Resource Estimate for the Raja and Palokas Prospe cts, at the 100% owned Rajapalot Project in Finland, (the “ NI 43-101
Technical Report ”), in support of the Company’s news release dated December 17, 2018 . The NI 43-101 Technical Report was
authorized by Mr. Rod Webster of AMC Consultants Pty Ltd (“AMC”) of Melbourne, Australia, and Dr. Kurt Simon Forrester of Arn
Perspective of Surrey, England. Each of Mr . Webster and Dr. Forrester are independent “q ualified persons” as defined by Nationa l
Instrument 43-101. The NI 43-101 Technical Re port may be found on the Company’s website at www.mawsonresources.com or under the
Company’s profile on SEDAR at www.sedar.com. The gold equivalent ("AuEq") value was calculated using the following formula: AuE q g/t
= Au g/t + (Co ppm/608) with assumed prices of Co $30/lb; and Au $1,250/oz. AuEq varies with Au and Co prices.
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, expe ct, anticipate, intend, estimate, postulate, and similar expressions, or are those, w hich, by their nature, refer to
future events. Mawson cautions investors that any forward-lookin g statements are not guarantees of future results or performanc e, and that actual results
may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, c apital and othe r costs varying
significantly from estimates, changes in world metal markets, changes in equity markets, planned drill programs and results var ying from expectations,
delays in obtaining results, equipment failure, unexpected geol ogical 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 th e heading "Risk Factors" in
Mawson's most recent Annual Information Form filed on www.sedar.c om. 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-l ooking statement, whether
as a result of new information, future events or results or otherwise.