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Mawson Finds "Compelling" Target Down Plunge From Palokas

|Includes: Mawson Resources Ltd. (MWSNF)

Mawson Resources (TSE:MAW) said it has extended its Palokas prospect in Finland via a 3D induced polarization survey, which has revealed a "compelling" target down plunge from known mineralization.

The company, in a statement released earlier Monday, said a 600-metre long conductive anomaly has been defined, extending down plunge from drilled near surface mineralization.

The thickness of the anomaly increases with depth, and is open below the 250-metre depth of the survey, according to Mawson's release.

In addition, final results from near-surface, investigative drilling returned an intercept of 0.3 metres grading 49.6 grams per tonne (g/t) gold, 1000 metres from the Palokas prospect. These results are located above the conductive body defined by the 3D survey, Mawson said.

The company is expecting the delivery of a hand portable diamond drill this week to extend its drill depth capacity to 120 metres. The drilling, which remains subject to final permitting, is planned to start in April, to test below the known gold mineralization.

"Our new hand portable rig with extra depth capacity will advance our understanding of the 1.2km long Palokas mineralized system below the 30 metres depth we have tested to date," said president and chief executive officer, Michael Hudson.

The 3D IP survey completed at Palokas started more than 250 metres north of the target, to 500 metres south of the prospect.

Roughly 20 percent of the 10,000 hectares claimed at Mawson's Rompas-Rajapalot Finland project are defined as EU biodiversity Natura 2000 areas, meaning that there are limitations on certain exploration methods that can be completed.

The company --- which has had to undergo a slow permitting process since its first major discovery in Finland four years ago -- has emphasized in the past that it has worked with all authorities to minimize the impacts of its planned drilling, including the capture of all drill cuttings, reduction in total machine weight and the placement of walkways to reduce foot traffic.