Mawson Resources Ltd has established a maiden Inferred gold-cobalt Mineral Resource estimate for Raja and Palokas prospects, at the 100% owned Rajapalot project in Finland.  The resource estimation was completed by AMC Consultants. Key points:

• A pit and underground Constrained Inferred Mineral Resource of 424,0000 oz of gold at 3.1 g/t AuEq (4.3 Mt at 2.3 g/t Au, 430 ppm Co) at 0.37 g/t AuEq cutoff open pit and 2 g/t AuEq underground was calculated, within a combined Unconstrained Inferred Mineral Inventory for the Palokas and Raja prospects of 482,0000 oz gold equivalent at a grade of 2.4 g/t AuEq (6.2 Mt at 1.7 g/t Au, 410 ppm Co) at 0.4 g/t AuEq cutoff
• 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 (4.4 g/t Au and 520 ppm Co)
• Electromagnetic fixed-loop transient (TEM) and airborne VTEMplus (VTEM) surveys at least double the potential mineralization footprints at the Raja and Palokas prospects and form immediate targets for the 15,000 m resource expansion diamond drill program planned to start in January 2019 (subject to permitting)
• The resource has substantial potential to grow, with only 20% (800 m) of the 4 km known mineralized trend included within the maiden resource to relatively shallow depths (average depth of drilling 88 m within 34.2 km drilled to date at Rajapalot)
• Establishes Rajapalot as a significant and strategic gold-cobalt resource for Finland. The unconstrained maiden inventory positions Rajapalot as one of Finland’s current top three gold projects 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, Chairman and CEO, states, “The Rajapalot gold-cobalt Inferred Mineral Resource estimate is a great start and an important milestone for both Mawson and Finland. The resource calculation demonstrates the robustness and high-grade of gold-cobalt mineralization, and highlights the potential for substantial resource expansion with recently surveyed electromagnetic conductors, that closely correspond with the resource area, more than doubling the size of the potential mineralized footprint. These form immediate drill targets for our January 2019 drill plans where five drill rigs plan to test progressive step-out targets from the resource (subject to permitting).”

Resource estimations at Rajapalot have been completed for the Raja and Palokas prospects by AMC.  The two prospects lie approximately 2 km apart within the same geological trend. The calculation represents the first resource estimate for the Rajapalot gold-cobalt project. AMC has reported both a “constrained” and “unconstrained” resource, where the constrained resource has used spatial restrictions of a Whittle™ pit at a gold price of $1,250/oz and a cobalt price of $30/lb. The gold equivalent (AuEq) value was calculated using 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.

The world’s largest cobalt refinery is located 400 kms south  of Rajapalot, where CRU estimates annual refining of 22,734 t of  cobalt (approximately 18% of world refined cobalt production), 90% of which was sourced from Chinese-owned mines in the DRC. Finland mines only 650 t 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.