Mawson Intersects New High-Grade Zone 19.5 metres @ 7.1 g/t Gold, 1,006 ppm Cobalt Includes 7 metres @ 17.0 g/t Gold, 2,168 ppm Cobalt

VANCOUVER, BC / ACCESSWIRE / April 20, 2020 / Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW)(Frankfurt:MXR)(OTCPINK:MWSNF) is pleased to announce further high-grade results from the recent 14.1 kilometre drill program at the Company’s 100%-owned Rajapalot project in Finland. These results continue to extend gold and cobalt mineralization beyond previously defined resources.

Highlights:

  • Drill hole PAL0228 at Palokas, located 120 metres from 2018 inferred resource (>2 g/t lower-cut), intersected 19.5 metres @ 7.1 g/t gold, 1,006 ppm cobalt, 7.8 g/t gold equivalent (“AuEq”) from 241.8 metres, including 7.0 metres @ 17.0 g/t gold, 2,168 ppm cobalt, 18.4 g/t AuEq from 251.4 metres (Tables 1-4, Figures 1-3);
  • Drill hole PAL0222 at Palokas (previously reported for gold only), drilled 75 metres north of PAL0228, returned 12.2 metres @ 13.2 g/t gold, 1,326 ppm cobalt, 14.0 g/t AuEq from 266.9 metres, including 8.2 metres @ 19.1 g/t Au, 1,572 ppm cobalt, 20.1 g/t AuEq from 266.9 metres (Tables 1-3, Figures 1-3);
  • New high-grade zone: drill holes PAL0222, PAL0228, together with PAL0194 (7.8 metres @ 5.1 g/t Au, 4,454 ppm cobalt, 7.9 g/t AuEq from 425.1 metres) define a newly interpreted 190 metre long higher-grade zone on the south western edge of Palokas, which remains open down plunge to the north and to the south towards the South Palokas prospect (Figures 2 & 3);

Mr. Hudson, Chairman and CEO, states, “More stunning results from Palokas with PAL0228 intersecting 19.5 metres @ 7.1 g/t gold and 1,006 ppm cobalt, highlighting the consistency of high-grade gold mineralization. Importantly, the reported holes define a new higher-grade zone that has considerable room for expansion. Core logging and assaying remains on schedule to deliver an updated resource at Rajapalot at the start of Q3 2020.”

Mawson completed the winter drill program with 37 drill holes for 14,132 metres (including one wedged drill hole and deepening an existing hole), and has released results from 24 drill holes on 20th January, 5th and 28th February 2020, 9th March 2020 and here. Thirteen drill holes remain to be reported. Gold and cobalt assay results from 11 drill holes across the three project areas (Palokas, South Palokas and Raja) are released here, including two of the drill holes from which gold assays had been previously reported (PAL0221 & PAL0222).

The significance of distinct high-grade zones within the mineralized footprint is becoming evident. Table 4 provides the high grade (2 g/t gold lower cut) intersections drilled to date at Rajapalot. The plan view map in Figure 2 shows the distribution at Palokas and South Palokas of these trends. New drilling appears to define a higher-grade, 190 metre long zone that has considerable room for expansion on the south western edge of Palokas. This zone appears to have a north-south orientation and is defined by drill holes PAL0222 (12.2 metres @ 13.2 g/t gold, 1,326 ppm cobalt, 14.0 g/t AuEq), PAL0228 (19.5 metres @ 7.1 g/t gold, 1,006 ppm cobalt, 7.8 g/t gold equivalent), together with PAL0194 (7.8 metres @ 5.1 g/t Au, 4,454 ppm cobalt, 7.9 g/t AuEq from 425.1 metres). The continuity of these elongate high-grade trends is encouraging as the Company learns more about the detailed distribution of mineralization. All three prospect areas with inferred resources at Rajapalot remain open, with further drilling required.

The regional upside potential of the Rajapalot project outside Palokas, South Palokas and Raja prospects is considerable. Coincident high chargeability (IP) and recently discovered (2020) electromagnetic conductors, combined with initial drilling of high-grade gold-cobalt mineralization at The Hut and Rumajärvi prospects (Figure 1b), provides strong impetus for testing near surface mineralization during the next drill season.

Mineralization has now been drilled down plunge for 560 metres at Raja, 500 metres at South Palokas and 590 metres at Palokas. Electromagnetic (EM) conductors indicate mineralized sulphidic host rocks at Palokas, South Palokas and Raja continue to at least 700-800 metres down plunge, which is the limit of this surface geophysical technique.

Further results reported here from the Palokas prospect include:

  • PAL0218 intersected 1.0 metre @ 4.0 g/t gold, 378 ppm cobalt, 4.2 g/t AuEq from 432.4 metres was drilled 30 metres down dip and to the west of PAL0194;
  • PAL0221, previously reported for gold only intersected 2.6 metres @ 6.2 g/t gold, 304 ppm cobalt, 6.4 g/t AuEq from 234.3 metres, was drilled 70 metres to the ENE of PAL0228.

Further results from a line of 3 holes drilled down plunge at South Palokas prospect indicates the better developed gold zone lies further the WSW, where the mineralization horizon remains open beyond PAL0225.

  • PAL0225 intersected 15 metres @ 0.9 g/t gold, 246 ppm cobalt, 1.1 g/t AuEq from 344.0 metres and 5 metres @ 1.3 g/t gold, 363 ppm cobalt, 1.5 g/t AuEq from 415.8 metres and was drilled 120 metres down plunge from PAL0213 which intersected 17.7 metres @ 3.8 g/t gold (“Au”), 880 ppm cobalt (“Co”), 4.3 g/t gold equivalent (“AuEq”).
  • PAL0220 intersected 0.7 metres @ 3.9 g/t gold, 189 ppm cobalt, 4.0 g/t AuEq from 376.0 metres, and was drilled 30 metres to the ENE of PAL0225.
  • PAL0212 drilled 40 metres ENE from PAL220 hit a broad zone of host rock but contained no significant gold mineralization.

Results from the Raja prospect indicate the host package is continuous, but the current trend (>450 metres long) of higher-grade mineralization appears to terminate. The termination of high-grade mineralization also coincides with the end of the EM conductor that is then offset to the NW (Figures 1a and 1b), which requires testing in future seasons. Drill results returned:

A plan view of the completed drill holes and the locations of drill holes reported here are shown in Figures 1-3 with corresponding collar and assay data in Tables 1-3. Intersections in the plan view and cross section in Figure 3 are coloured by AuEq grade to show the high-grade trends at Palokas. Figure 1b shows the upside potential outside the Palokas, South Palokas and Raja resource areas indicated by the strong electromagnetic conductors (EM) and the host sulphidic package indicated by the induced polarization (IP) chargeability image. Host rocks at Palokas are in the same reduced stratabound host package as South Palokas showing up with the combination of the modelled EM plates and the chargeability response (IP). When viewed in a down-plunge orientation, mineralization, conductive electromagnetic plates and their enclosing rock packages show a similarity across all prospects.

During the COVID-19 pandemic, Mawson has implemented safety and physical distancing procedures, including working from home where possible and ceased all travel as recommended by the Finnish government. The Company recently completed its 2020 winter drilling program at the Rajapalot Gold Project in Finland. Core logging and assaying of drill data at Rajapalot remains on schedule to update the current inferred resource at the start of Q3 2020. The December 2018 resource included approximately 15,000 metres of drilling. A further 29,000 metres has now been drilled since December 2018 and will be available for inclusion in the new resource update.

Tables 1-3 provide collar and assay data. Assuming a predominant stratabound control, the true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Gold-only intersections are reported with a lower-cut of 0.5 g/t gold over a 1 metre width. No upper cut-off was applied. Where cobalt data becomes available, a lower cut of 0.3 g/t AuEq is used, based on modifying the open pit WhittleTM optimized open pit lower cut-off grade of 0.37 g/t AuEq developed for the 2018 resource recalculated to a dollar value per tonne against current averaged gold and cobalt prices (and therefore the 2018 resource cutoff 0.37 g/t AuEq is the same value per tonne as 0.30 g/t AuEq today). Where gold is below detection limit, half the cutoff grade is used in calculating the average grade for an interval and in determining the gold equivalent value.

Technical and Environmental Background

Up to five diamond drill rigs from the Arctic Drilling Company OY (“ADC”) and Kati OY (“Kati”) all with water recirculation and drill cuttings collection systems are used in the drill program. Core diameter is NQ2 (50.7 mm). Core recoveries are excellent and average close to 100% in fresh rock. After photographing and logging in Mawson’s Rovaniemi facilities, core intervals averaging 1 metre for mineralized samples and 2 metres for barren samples are cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples are transported by commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (including cobalt) are pulped at CRS Minlab, then transported by air to the MSA labs in Vancouver, Canada and analyzed using four acid digest ICP-MS methods. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical process.

Three-month average gold and cobalt prices have been used to calculate AuEq values according to the following:

  • Average gold price $1580 per oz
  • Average cobalt price $14.50 per pound
  • Resulting in gold equivalent formula of AuEq g/t = Au g/t + (Co ppm/1589).

The host rocks to the gold and cobalt mineralization comprise sulphides (pyrrhotite>>pyrite) with biotite-muscovite-chlorite schists at South Palokas and Mg-Fe amphibole-biotite-chlorite rocks at Palokas. Veining and fracture fill minerals include pyrrhotite, magnetite and magnetite-pyrrhotite (+/- quartz, tourmaline). Retrograde chlorite after biotite, generations of secondary muscovite (“sericite”) and vein-controlled chlorite+/- tourmaline and magnetite are also present. Preliminary hand-held XRF analysis confirms the presence of associated scheelite and molybdenite, the former visible under UV light as tiny veinlets and disseminations. The minerals associated with the gold are clearly post-metamorphic, reduced, and most likely driven by hydrothermal fluids from nearby granitoid intrusions. Chlorite and fine muscovite are regarded as the lowest temperature silicate minerals with gold, structurally controlled in apparent spatial association with quartz and/or K-feldspar veins. Altered rocks enclosing the mineralized package contain locally abundant talc and tourmaline.

All maps have been created within the KKJ3/Finland Uniform Coordinate System (EPSG:2393).

The qualified person for Mawson’s Finnish projects, Dr. Nick Cook, President for Mawson and a Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.

NI 43-101 Technical Report:

On December 19, 2018, Mawson filed an independent National Instrument 43-101 Technical Report (the “NI 43-101 Technical Report”) on the Mineral Resource Estimate for the Raja and Palokas Prospects, 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 “qualified persons” as defined by National Instrument 43-101. The NI 43-101 Technical Report may be found on the Company’s website at www.mawsonresources.com or under the Company’s profile on SEDAR at www.sedar.com. For the 2018 resource, the gold equivalent (“AuEq”) value was calculated using averaged prices of the time, resulting in the following formula: AuEq 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.

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 Rajapalot gold 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,

info@mawsonresources.com

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 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, changes in equity markets, planned drill programs and results varying 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 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.

Figure 1a: Plan of Rajapalot showing historic drilling and high-grade intersections drilled outside or subsequent to the 2018 NI43-101 resource (surface projection of these resources shown here; 0.37 g/t AuEq lower-cut).The map includes new drill holes reported and modelled ground TEM plates.

Figure 1b: Plan of Rajapalot showing IP Chargeability overlain with historic drilling and high-grade intersections drilled outside or subsequent to the 2018 NI43-101 resource (surface projection of these resources shown here; 0.37 g/t AuEq lower-cut). Note the coincidence of the sulphidic (chargeable) host package and the EM conductors – there remain many conductive and chargeable areas to be drill tested.

Figure 2: Plan view of Palokas and South Palokas prospects with significant drill intersections reported from areas largely outside the projection of the 2018 Inferred Resource..

Figure 3: Long section showing outline of 2018 resource (>2 g/t AuEq lower-cut) and significant grade-width intersections (coloured dots) showing new results from PAL0220, 222, 225, and 228 extending mineralization beyond the current resource areas (red dashed outlines). Interpreted north-south high-grade zones are shown in darker pink raking across the 340 degree plunging mineralized host sequence. The view is looking onto mineralized surface at Palokas and South Palokas (this view is looking at 60 degrees towards 120). Red dotted outline represents the current estimated limits to mineralized rocks, although testing between Palokas and South Palokas is restricted to just four shallow drill holes.

Table 1: Collar Information from 2019-20 Winter drilling at the Rajapalot Project (Finnish Grid, Projection KKJ3; the “A” postscript refers to a daughter hole off the primary hole and the depth range of the drill hole is indicated)

HoleID

East

North

Azimuth

Dip

RL

Depth (m)

Prospect

Comment

PAL0201D, extended

3408545.6

7372603.2

56.0

-67.2

179.3

392.2 to 524.6

Raja

Au & Co reported here

PAL0202

3408978.0

7374402.6

229

-45

175.9

769.6

Palokas

No significant assays

28 Feb, 2020

PAL0202A

3408978.0

7374402.6

229

-45

175.9

451.0 to 826.7

Palokas

Au reported 5 Feb, 2020, Co 28 Feb, 2020

PAL0203

3408272.5

7373630.5

058

-63

173.6

415.5

South Palokas

Au reported 5 Feb, 2020, Co 28 Feb, 2020

PAL0204

3408522.0

7373604.3

235

-85

173.4

149.2

South Palokas

Au reported 20 Jan, 2020; Co Feb 28, 2020

PAL0205

3408586.2

7373802.7

058

-49

173.5

191.5

Palokas

Au reported 20 Jan, 2020; Co Feb 28, 2020

PAL0206

3408463.5

7373917.2

063

-57

173.7

326.2

Palokas

Au reported 5 Feb, 2020, Co 28 Feb, 2020

PAL0207

3408609.8

7373894.5

057

-76

173.7

200.2

Palokas

Au reported 5 Feb, 2020, Co 28 Feb, 2020

PAL0208

3408540.7

7372692.8

052

-75

179.1

555.4

Raja

No significant assays

Reported here

PAL0209

3408471.1

7373638.3

058

-82

173.5

200.8

South Palokas

Results awaited

PAL0210

3408609.8

7373894.5

054

-86

173.7

198.0

Palokas

Au & Co reported 28 Feb 2020

PAL0211

3408463.5

7373917.2

063

-50

173.7

232.2

Palokas

Au & Co reported 09 Mar 2020

PAL0212

3408255.2

7373708.2

059

-75.5

172.5

492.6

South Palokas

No significant assays

Reported here

PAL0213

3408272.5

7373630.5

060

-73.5

173.6

509.3

South Palokas

Au & Co reported 28 Feb 2020

PAL0214

3408609.8

7373894.5

057

-52

173.7

154.3

Palokas

Au & Co reported 09 Mar 2020

PAL0215

3408676.1

7374105.0

237

-77.5

173.8

395.5

Palokas

Results awaited

PAL0216

3408463.5

7373917.2

062

-65

173.7

344.6

Palokas

Results awaited

PAL0217

3408540.7

7372692.8

052

-79.5

179.1

519.2

Raja

No significant assays. Reported here

PAL0218

3408310.5

7373979.7

075

-58

173.8

469.4

Palokas

Au & Co reported here

PAL0219

3408272.5

7373630.5

059

-57.9

173.6

419.7

South Palokas

Results awaited

PAL0220

3408255.2

7373708.2

062

-80

172.5

501.1

South Palokas

Au & Co reported here

PAL0221

3408463.5

7373917.2

096

-53.5

173.7

280.4

Palokas

Au reported 09 Mar 2020,
Co here

PAL0222

3408463.5

7373917.2

066

-71.5

173.7

355.1

Palokas

Au reported 09 Mar 2020,
Co here

PAL0223

3408272.5

7373630.5

061

-79

173.6

404.1

South Palokas

Results awaited

PAL0224

3408168.5

7373753.6

063

-78.5

171.4

560.6

South Palokas

Results awaited

PAL0225

3408255.2

7373708.2

070

-85

172.5

490.9

South Palokas

Au & Co reported here

PAL0226

3408540.7

7372692.8

053

-83.5

179.1

487.8

Raja

Au & Co reported here

PAL0227

3408463.5

7373917.2

069

-77.5

173.7

359.4

Palokas

Results awaited

PAL0228

3408463.5

7373917.2

110

-67

173.7

311.4

Palokas

Au & Co reported here

PAL0229

3408168.5

7373753.6

056

-81.2

171.4

635.5

South Palokas

Results awaited

PAL0230

3408486.6

7372775.8

047

-82

177.0

631.4

Raja

Results awaited

PAL0231

3408463.5

7373917.2

073

-82.7

173.7

395.6

Palokas

Results awaited

PAL0232

3408270.3

7373875.9

057

-60

173.8

524.0

Palokas

Results awaited

PAL0233

3408585.8

7373802.5

058

-70

173.5

167.5

Palokas

Results awaited

PAL0234

3408270.3

7373875.9

054

-56

173.8

178.7

Palokas

Hole aborted

PAL0235

3408207.9

7373667.6

047

-81

173.0

176.9

South Palokas

Results awaited

PAL0236

3408270.3

7373875.9

049

-56

173.8

530.0

Palokas

Results awaited

Table 2: Intersections from the 2019-20 Winter Drill Program. Intersections are reported with a lower cut of 0.3g/t AuEq (using updated gold and cobalt prices of $1580 per ounce and 14.50 per pound respectively) over 1 metre lower cut. No upper cut-off was applied.

Prospect

HoleID

From (m)

To (m)

width (m)

Au g/t

Co ppm

AuEq

Raja

PAL0201D

450.75

451.85

1.10

3.82

2041

5.1

Raja

PAL0201D

451.85

453.00

1.15

0.23

23

0.2

Palokas

PAL0202A

771.4

781.5

10.1

0.6

317

0.8

South Palokas

PAL0203

303.0

315.0

12.0

5.4

2221

6.8

including

303.0

311.0

8.0

7.9

2672

9.6

South Palokas

PAL0204

88.2

89.1

0.9

1.7

881

2.3

South Palokas

PAL0204

93.7

103.0

10.3

5.7

961

6.3

including

97.0

103.0

6.1

8.4

901

8.9

Palokas

PAL0205

101.0

105.5

12.9

1.8

590

2.2

including

101.0

104.0

3.0

6.4

606

6.8

Palokas

PAL0205

114.0

118.0

4.0

<0.05

820

0.5

Palokas

PAL0206

249.8

255.2

5.4

0.1

1189

0.8

Palokas

PAL0206

262.2

264.2

2.0

14.1

370

14.4

Palokas

PAL0206

296.4

299.2

2.8

0.8

880

1.3

Palokas

PAL0206

395.3

308.3

3.0

<0.05

2324

1.5

Palokas

PAL0207

117.3

119.3

2.0

<0.05

678

0.4

Palokas

PAL0207

121.6

125.6

4.0

0.3

383

0.6

Palokas

PAL0207

145.2

148.6

3.4

0.7

552

1.1

Palokas

PAL0207

150.8

158.4

7.6

1.6

506

2.0

Palokas

PAL0207

164.0

166.0

2.0

<0.05

578

0.4

Palokas

PAL0207

170.8

172.0

1.2

<0.05

1398

0.9

Palokas

PAL0210

128.3

151.7

23.4

1.0

565

1.4

Palokas

PAL0210

153.6

158.1

4.5

3.9

302

4.1

Palokas

PAL0211

246.4

252.3

6.0

0.1

1904

1.3

Palokas

PAL0211

293.9

296.8

2.9

0.9

159

1.0

South Palokas

PAL0213

250.2

252.0

1.8

2.8

150

2.9

South Palokas

PAL0213

256.0

257.0

1.0

2.2

222

2.3

South Palokas

PAL0213

261.0

263.0

2.0

0.8

257

1.0

South Palokas

PAL0213

293.0

310.7

17.7

3.8

880

4.3

including

294.0

304.0

10.0

6.5

1012

7.2

South Palokas

PAL0213

317.0

323.0

6.0

9.2

1364

10.0

Palokas

PAL0214

119.9

124.7

4.8

2.4

894

2.9

including

122.0

123.7

1.7

6.4

761

6.8

Palokas

PAL0218

403.0

410.0

7.0

0.2

504

0.5

Palokas

PAL0218

432.4

433.4

1.0

4.0

378

4.2

Palokas

PAL0218

448.3

450.3

2.0

0.0

908

0.6

South Palokas

PAL0220

366.0

367.0

1.0

0.4

76

0.4

South Palokas

PAL0220

370.0

371.0

1.0

0.3

189

0.5

South Palokas

PAL0220

376.0

376.7

0.7

3.9

189

4.0

Palokas

PAL0221

213.0

216.0

3.0

1.0

304

1.2

Palokas

PAL0221

234.3

236.9

2.6

6.2

304

6.4

Palokas

PAL0222

262.8

264.8

2.0

0.0

798

0.5

Palokas

PAL0222

266.9

279.1

12.2

13.2

1326

14.0

including

266.9

275.1

8.2

19.1

1572

20.1

South Palokas

PAL0225

344.0

359.0

15.0

0.9

246

1.1

South Palokas

PAL0225

415.8

420.8

5.0

1.3

363

1.5

Raja

PAL0226

450.6

455.6

5.0

0.4

694

0.8

Palokas

PAL0228

241.8

261.3

19.5

7.1

1006

7.8

including

251.4

258.4

7.0

17.0

2168

18.4

Table 3: Individual assay data from drill holes reported in this press release.

HoleID

From (m)

To (m)

Width (m)

Au g/t

Co ppm

AuEq

PAL0201D

434.0

435.0

1.00

<0.05

515

0.35

PAL0201D

435.0

436.0

1.00

<0.05

952

0.6

PAL0201D

436.0

437.1

1.10

<0.05

592

0.4

PAL0201D

437.1

438.0

0.90

<0.05

1027

0.7

PAL0201D

438.0

439.1

1.10

<0.05

1061

0.7

PAL0201D

439.1

440.0

0.90

<0.05

2505

1.6

PAL0201D

440.0

440.95

0.95

0.1

1667

1.1

PAL0201D

441.0

442.2

1.20

<0.05

606

0.4

PAL0201D

451.9

453.0

1.1

3.8

2041

5.1

PAL0218

403.0

405.0

2.0

0.2

280

0.4

PAL0218

405.0

406.0

1.0

<0.05

418

0.3

PAL0218

406.0

407.0

1.0

0.1

723

0.5

PAL0218

407.0

408.0

1.0

0.2

347

0.4

PAL0218

408.0

409.0

1.0

0.4

984

1.0

PAL0218

409.0

410.0

1.0

0.1

499

0.4

PAL0218

403.0

405.0

2.0

0.2

280

0.4

PAL0218

432.4

433.4

1.0

4.0

378

4.2

PAL0218

448.3

449.3

1.0

<0.05

1372

0.9

PAL0218

449.3

450.3

1.0

<0.05

445

0.3

PAL0220

366.00

367.00

1.00

0.4

76

0.4

PAL0220

370.00

371.00

1.00

0.3

189

0.5

PAL0220

376.00

376.70

0.70

3.9

189

4.0

PAL0221

213.0

214.0

1.0

<0.05

445

0.3

PAL0221

214.0

215.0

1.0

0.1

425

0.1

PAL0221

215.0

216.0

1.0

2.8

43

2.8

PAL0221

234.3

235.0

0.8

0.7

424

1.0

PAL0221

235.0

235.9

0.9

0.6

170

0.7

PAL0221

235.9

236.9

1.0

15.2

328

15.4

PAL0222

262.8

263.8

1.0

0.1

757

0.5

PAL0222

263.8

264.8

1.0

<0.05

840

0.6

PAL0222

266.9

267.9

1.1

1.5

960

2.1

PAL0222

267.9

268.9

1.0

11.7

1978

13.0

PAL0222

268.9

267.0

1.1

11.2

2041

12.5

PAL0222

270.0

271.0

1.1

9.3

1771

10.4

PAL0222

271.0

272.0

1.0

79.3

1829

80.4

PAL0222

272.0

273.0

1.0

26.1

1563

27.1

PAL0222

273.0

274.0

1.0

9.9

1309

10.7

PAL0222

274.0

275.1

1.1

6.6

1147

7.3

PAL0222

275.1

276.1

1.1

0.6

1003

1.3

PAL0222

276.1

277.2

1.1

1.4

861

1.9

PAL0222

277.2

278.2

1.0

1.2

942

1.8

PAL0222

278.2

279.1

0.8

0.4

402

0.6

PAL0225

344.0

345.0

1.0

0.5

127

0.5

PAL0225

345.0

346.0

1.0

0.9

310

1.0

PAL0225

346.0

347.0

1.0

0.2

158

0.3

PAL0225

347.0

348.0

1.0

0.5

274

0.6

PAL0225

348.0

349.0

1.0

0.4

318

0.6

PAL0225

349.0

350.0

1.0

0.4

143

0.4

PAL0225

350.0

351.0

1.0

0.3

118

0.3

PAL0225

351.0

352.0

1.0

0.3

253

0.4

PAL0225

352.0

353.0

1.0

0.7

270

0.8

PAL0225

353.0

354.0

1.0

1.1

238

1.2

PAL0225

354.0

355.0

1.0

2.4

496

2.7

PAL0225

355.0

356.0

1.0

3.6

294

3.8

PAL0225

356.0

357.0

1.0

1.3

333

1.5

PAL0225

357.0

358.0

1.0

0.7

208

0.9

PAL0225

358.0

359.0

1.0

0.7

153

0.8

PAL0225

415.8

416.8

1.0

0.1

354

0.3

PAL0225

416.8

417.8

1.0

2.6

614

3.0

PAL0225

417.8

418.8

1.0

0.1

164

0.2

PAL0225

418.8

420.8

2.0

1.8

341

2.0

PAL0226

450.6

451.6

1.0

1.0

431

1.2

PAL0226

451.6

452.6

1.0

0.5

524

0.9

PAL0226

452.6

453.6

1.0

0.1

1114

0.8

PAL0226

453.6

454.6

1.0

0.3

716

0.7

PAL0226

454.6

455.6

1.0

0.1

684

0.5

PAL0228

241.8

242.8

1.0

2.3

495

2.6

PAL0228

242.8

243.8

1.0

0.9

979

1.5

PAL0228

243.8

244.8

1.0

3.5

457

3.8

PAL0228

244.8

245.2

0.5

2.0

101

2.1

PAL0228

245.2

246.2

1.0

4.0

130

4.1

PAL0228

246.2

247.2

1.0

0.1

84

0.2

PAL0228

247.2

248.2

1.0

1.4

261

1.5

PAL0228

248.2

249.2

1.0

2.4

317

2.6

PAL0228

249.2

250.2

1.0

2.0

250

2.2

PAL0228

250.2

251.4

1.2

0.6

231

0.7

PAL0228

251.4

252.4

1.0

9.5

2770

11.2

PAL0228

252.4

253.4

1.0

4.7

1391

5.5

PAL0228

253.4

254.4

1.0

4.2

1846

5.3

PAL0228

254.4

255.4

1.0

65.4

3014

67.2

PAL0228

255.4

256.4

1.0

5.6

2360

7.1

PAL0228

256.4

257.4

1.0

26.9

2188

28.3

PAL0228

257.4

258.4

1.0

3.1

1610

4.1

PAL0228

258.4

259.3

0.9

1.3

656

1.7

PAL0228

259.3

260.3

1.0

0.2

261

0.4

PAL0228

260.3

261.3

1.0

0.1

311

0.3

Table 4: The top 40 high-grade intersections from the Rajapalot project. Note that 18 of these intersections (in bold) were not included in the 2018 Inferred Resource. Intersections are reported with a lower cut of 2.0 g/t AuEq (using updated gold and cobalt prices of $1580 per ounce and 14.50 per pound respectively) over 1 metre lower cut. No upper cut-off was applied.

HoleID

From (m)

To (m)

Interval (m)

Au g/t

Co ppm

AuEq

AuEq g*w

PAL0093

252.2

261.8

9.7

23.1

1080

23.7

229.2

PRAJ0009

5.9

7.9

2.0

99.9

1196

100.6

201.2

PAL0222

266.9

275.1

8.2

19.1

1572

20.1

165.0

PRAJ0006

1.3

16.3

15.0

9.2

769

9.7

144.9

PAL0228

251.4

258.4

7.0

17.0

2168

18.4

128.8

PRAJ0107

26.7

32.7

6.0

20.4

705

20.8

125.1

PAL0030

110.2

120.2

10.0

9.7

562

10.1

101.0

PAL0027

34.4

41.2

6.8

14.1

659

14.5

98.7

PAL0188

321.6

328.6

7.0

11.9

1641

12.9

90.6

PRAJ0003

0.0

3.0

3.0

27.5

851

28.0

84.1

PAL0203

303.0

311.0

8.0

7.9

2672

9.6

76.7

PAL0190

381.8

387.8

6.0

11.8

949

12.4

74.6

PAL0075

82.2

91.0

8.8

7.5

1229

8.3

73.0

PAL0092

246.0

249.0

3.0

23.3

1413

24.2

72.7

PAL0213

294.0

304.0

10.0

6.5

1008

7.1

71.1

PAL0204

93.7

103.0

9.3

6.3

1018

6.9

64.2

PAL0194

425.1

432.9

7.8

5.1

4454

7.9

61.7

PAL0118

381.0

382.6

1.6

37.3

1143

38.0

60.8

PAL0213

317.0

323.0

6.0

9.0

1364

9.9

59.4

PAL0188

307.7

315.6

8.0

5.9

1840

7.0

55.8

PRAJ0114

61.1

68.1

7.0

7.1

947

7.7

53.8

PRAJ0004

2.0

10.3

8.3

5.9

454

6.2

51.4

PAL0190

374.0

378.0

4.0

11.2

1758

12.3

49.3

PRAJ0022

10.0

24.0

14.0

3.0

580

3.4

47.7

PAL0198

171.2

178.8

7.6

5.0

1484

6.0

45.3

PRAJ0109

42.7

49.7

7.0

6.0

494

6.3

44.1

PAL0085

125.1

131.9

6.8

5.5

850

6.0

40.7

PAL0016

211.0

214.4

3.4

11.0

475

11.3

38.4

PRAJ0109

38.7

39.7

1.0

34.9

574

35.3

35.3

PRAJ0111

42.1

44.9

2.8

11.7

1218

12.5

35.0

PAL0062

186.5

192.5

6.0

5.3

369

5.5

33.2

PRAJ0025

16.9

22.8

5.9

5.4

339

5.6

33.1

PRAJ0005

10.7

19.2

8.6

3.1

474

3.4

28.8

PAL0173

276.1

281.0

4.9

4.6

1805

5.8

28.5

PAL0206

262.2

263.2

1.0

28.0

377

28.2

28.2

PAL0182

87.0

93.2

6.2

4.0

553

4.3

26.7

PAL0197

303.5

312.2

8.8

1.5

2341

3.0

26.2

PAL0119

16.0

19.0

3.0

8.6

68

8.7

26.0

PRAJ0113

74.4

77.4

3.0

8.3

502

8.6

25.7

PAL0194

420.7

423.9

3.2

7.3

1034

7.9

25.3

SOURCE: Mawson Resources Limited

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