Mawson Announces CEO and Director Resignation and Appointment of Interim CEO

Rhea-AI Summary

Mawson Gold Limited (OTC PINK:MWSNF) announced the resignation of CEO Ivan Fairhall, effective immediately, with the Board expressing gratitude for his service. Ms. Noora Ahola, the company's Environmental Director since 2016, has been appointed as the Interim CEO. Ahola's leadership experience in Finland is expected to ensure minimal operational disruption and maintain focus on growth, particularly for the Rajapalot gold-cobalt project. The Company has made significant progress in developing its assets, highlighted by the October 2022 PEA and the successful spin-out of Australian assets into Southern Cross Gold Ltd.

Positive

• Appointment of Noora Ahola as Interim CEO expected to bring strong leadership.
• Ahola's experience in environmental and regulatory affairs could enhance focus on ESG initiatives.
• Continuity in operations and strategic growth with minimal disruption.

Negative

• Resignation of Ivan Fairhall may raise concerns regarding leadership continuity.

VANCOUVER, BC / ACCESSWIRE / March 21, 2023 / Mawson Gold Limited ("Mawson" or the "Company") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) announces that its Board of Directors (the "Board") has accepted the resignation of Mr. Ivan Fairhall as Chief Executive Officer and a Director of the Company effective immediately. The Board wishes to thank Mr. Fairhall for his services as CEO and looks forward to continuing to work with Mr. Fairhall as a consultant to ensure a smooth handover of affairs.

The Company further announces the appointment of Ms. Noora Ahola to the role of Interim CEO. Ms. Ahola joined Mawson in 2014 as Manager Environment, and has served as the Company's Environmental Director since 2016 and was appointed as Managing Director of the Company's wholly owned Finnish subsidiary, Mawson Oy, in 2020. Ms. Ahola's skills and technical experience has been instrumental in the day-to-day local operations in Finland. Working together with the Company's management and technical teams, Ms. Ahola's appointment as the Company's Interim CEO ensures minimal disruption in operations and continued focus on the long-term growth of the Company and its projects.

Mr. Michael Hudson, Executive Chairman, comments, "On behalf of the Board, I would like to thank Ivan for his commitment and service to Mawson as CEO and Director, during which time we have successfully demonstrated the value already discovered at Rajapalot with the October 2022 PEA and undergone significant corporate transition with the spin out of Mawson's Australian assets into Southern Cross Gold Ltd. (ASX: SXG). We look forward to working with him as a consultant and wish him well in his future endeavors.

"We are very pleased to be appointing Noora to the role of Interim CEO. Noora not only leads Mawson's Finland operation, but is also an industry leader in the field of ESG and regulatory affairs. She will continue to grow and advance the Rajapalot gold-cobalt project to be not only a significant EU gold asset, but also a rare source domestically produced cobalt, critical to aid in the EU's stated energy transition objectives."

About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)

Mawson Gold Limitedis an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with its 100% owned flagship Rajapalot gold-cobalt project in Finland, and right to earn into the Skellefteå North gold project in Sweden. Mawson also currently owns 51% of Southern Cross Gold Ltd (ASX:SXG) which in turn owns or controls three high-grade, historic epizonal goldfields covering 470 km2 in Victoria, Australia.

On behalf of the Board, "Michael Hudson" Michael Hudson, Executive Chairman

Further Information www.mawsongold.com 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7 Mariana Bermudez (Canada), Corporate Secretary +1 (604) 685 9316info@mawsongold.com

Forward-Looking Statement

Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Mawson, in light of management's experience and perception of current conditions and expected developments, Mawson can give no assurance that such expectations will prove to be correct. 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.

SOURCE: Mawson Gold Limited

View source version on accesswire.com:
https://www.accesswire.com/744864/Mawson-Announces-CEO-and-Director-Resignation-and-Appointment-of-Interim-CEO

FAQ

Who is the new Interim CEO of Mawson Gold Limited?

Noora Ahola has been appointed as the Interim CEO of Mawson Gold Limited.

What position did Noora Ahola hold before becoming Interim CEO?

Prior to her appointment, Noora Ahola served as the Environmental Director and Managing Director of Mawson's Finnish subsidiary.

What is the significance of the Rajapalot project for Mawson Gold?

The Rajapalot gold-cobalt project is a key asset for Mawson Gold, viewed as a significant EU gold and cobalt source, essential for energy transition.

Why did Ivan Fairhall resign as CEO of Mawson Gold?

The press release does not specify the reason for Ivan Fairhall's resignation, but he will continue with the company as a consultant.

How might the leadership change impact Mawson Gold's operations?

The Board expects minimal disruption in operations due to Noora Ahola's experience and continuity in leadership.