Mawson Drills 30.8 Metres at 3.9 G/T Gold and 1,403 ppm Cobalt in 120 Metre Step Out in Deepest Drillhole at South Palokas, Finland

Rhea-AI Summary

Mawson Gold Limited (MWSNF) reports promising drill results from the South Palokas prospect at its Rajapalot gold-cobalt project in Finland. The results cover 7 drill holes totaling 2,692 meters from its 2020/21 drilling program. Notable results include PAL0303, which showed 30.8 meters at 3.9 g/t Au and 1,403 ppm Co. This drilling extends high-grade mineralization by 290 meters down plunge. The comprehensive drilling program comprises 76 holes over 19,422 meters. A resource upgrade is anticipated in August 2021.

Positive

• PAL0303 drilled 30.8 meters at 3.9 g/t Au, indicating prospective mineralization.
• High-grade mineralization extended by 290 meters down plunge at South Palokas.
• Total of 76 drill holes completed, enhancing resource expansion opportunities.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / August 3, 2021 / Mawson Gold Limited ("Mawson") or (the "Company") (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF) is pleased to announce drill results from 7 drill holes totaling 2,692 metres from the South Palokas prospect area (Figure 1) as part of the Company's 76 hole, 19,422 metre 2020/21 drill program at the Company's 100%-owned Rajapalot gold-cobalt project in Finland (Figure 1).

Highlights:

• PAL0303 drilled 30.8 metres @ 3.9 g/t Au, 1,403 ppm Co, 5.1 g/t AuEq from 553.2metres; including,
  • 1.0 metre @ 8.9 g/t Au, 2,164 ppm Co, 10.7 g/t AuEq from 563.9 metres;
  • 7.0 metres @ 8.2 g/t Au, 2,020 ppm Co, 9.9 g/t AuEq from 566.9 metres;
  • 1.0 metre @ 8.9 g/t Au, 1,036 ppm Co, 9.8 g/t AuEq from 575.0 metres;
  • 4.0 metres @ 6.9 g/t Au, 1,460 ppm Co, 8.1 g/t AuEq from 578.0 metres;
• PAL0303 is the deepest drillhole at South Palokas. The closest high-grade drill hole, PAL0235 intersected 15.3 metres @ 3.0 g/t Au, 998 ppm Co, 3.9 g/t AuEq from 439.5 metres ( reported 29 June, 2021 ) was drilled 120 metres up plunge. In combination, PAL0303 and PAL0235, both drilled this season, extend high-grade mineralization at South Palokas down plunge by 290 metres;
• Further drilling is required at South Palokas with mineralization remaining open down plunge;
• PAL0308, drilled 30 metres to the west of PAL0235, intersected 8.5 metres @ 3.1 g/t Au, 866 ppm Co, 3.9 g/t AuEq from 492.6 metres:
  • A further 22.3 metres @ 0.6 g/t Au, 751 ppm Co, 1.3 g/t AuEq from 439.5 metres, including
    • 6.0 metres @ 1.4 g/t Au, 1,444 ppm Co, 2.6 g/t AuEq from 439.5 metres.
• PAL0296 intersected 24.0 metres @ 1.3 /t Au, 538 ppm Co, 1.8 g/t AuEq from 254.0 metres; including:
  • 15.0 metres @ 2.0 g/t Au, 652 ppm Co, 2.5 g/t AuEq from 256.0 metres, and
  • 7 metres @ 1.8 g/t Au, 288 ppm Co, 2.0 g/t AuEQ from 322.5 metres including :
    • 1 metre @ 5.4 g/t Au, 307 ppm Co, 5.7 g/t AuEq from 322.5 metres
  • PAL0296 was drilled 50 metres west from PAL0290 which intersected 20.0 metres @ 1.7 g/t Au, 529 ppm Co, 2.1 g/t AuEq from 240.0 metres, including 11.6 metres @ 2.8 g/t Au, 541ppm Co, 3.2 g/t AuEq from 242.0 metres and was reported 29 June, 2021 ;
• Mawson completed 76 diamond drill holes for 19,422 metres for the winter 2020/21 season. A total of 7 holes for 2,692 metres are reported here;
  • A total of 36 drill holes for 8,438 metres from 5 individual prospect areas remain to be reported, with a resource upgrade scheduled for August 2021.
• AFRY Finland Oy , a European leader in engineering, design, and advisory services has been appointed to act as Qualified Person for the updated resource which is scheduled to be released in August, 2021.

Mr. Hudson, Chairman and CEO, states "This is a great result. South Palokas has delivered very strongly this season, with high-grade mineralization extended by 280 metres down plunge and remains open. PAL0303 (30.8 metres @ 3.9 g/t Au, 1,403 ppm Co, 5.1 g/t AuEq) is the deepest hole drilled at South Palokas and is demonstrative of the significant resource expansion opportunities that remain at Rajapalot. The mineralized body at South Palokas has now been drilled 650 metres down plunge. Drilling this year has demonstrated significant growth to the four current resource areas and has also added two further resource areas. We look forward to releasing remaining drill hole results and announcing the next resource upgrade in August."

Gold and cobalt assay results are reported here from 7 holes for 2,692 metres from the 2020/21 drill program (Figure 1). In total, since drilling commenced in September 2020, Mawson has drilled 76 drillholes for 19,422 metres. The holes released here are all from the South Palokas prospect (PAL0286, PAL0296, PAL0299, PAL0303, PAL0305, PAL0307 and PAL0308). A full set of reported results is shown in Table 3. Intersections are reported with a lower cut of 0.3 g/t AuEq over a two metre lower cut. No upper cut-off was applied. Higher-grade intersections use a 1.1 g/t AuEq lower cut over two metres. A total of 36 drill holes for 8,438 metres from five individual prospect areas remain to be reported, with a resource upgrade at Rajapalot scheduled during August 2021.

Technical and Environmental Background

Four diamond drill rigs from Kati Oy, Nivalan Timanttikairaus Oy and MK Core Drilling Oy 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.

Spot gold and cobalt prices have been used to calculate AuEq values according to the following:

• Average gold price US$1,599 per oz
• Average cobalt price US$19.93 per pound
• Resulting in gold equivalent formula of AuEq g/t = Au g/t + (Co ppm/1,170).

The host rocks to the gold and cobalt mineralization comprise sulphides (pyrrhotite>>pyrite) with biotite-muscovite-chlorite schists and Mg-Fe amphibole-biotite-chlorite rocks. 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 silicate mineral alteration assemblages 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).

Tables 1-2 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. Table 3 gives detailed individual assays of all intervals reported in this press release. Intersections are reported with a lower cut of 0.3 g/t AuEq over 2 metre lower cut. No upper cut-off was applied, and higher-grade intersections use a 1.1 g/t AuEq lower cut over 2 metres.

NI 43-101 Technical Report: On September 14, 2020 , an updated resource estimation was completed by Rodney Webster of 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 NI 43-101. The NI 43-101 technical report is entitled "Rajapalot Property Mineral Resource Estimate NI 43-101 Technical Report" and dated September 14, 2020 (the "Updated Technical Report"). The Updated Technical Report may be found on the Company's website at www.mawsongold.com or under the Company's profile on SEDAR at www.sedar.com . Readers are encouraged to read the entire Updated Technical Report.

Qualified Person

Dr. Nick Cook (FAusIMM), Chief Geologist for the Company, is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in this press release.

About Mawson Gold Limited (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF)

Mawson Gold 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-cobalt project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, Chairman & CEO

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

Forward-Looking Statement This news release contains forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements and are based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labor. 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; ability to achieve goals; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a single asset; planned drill programs and results varying from expectations; 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. 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.

Figure 1: Plan of Rajapalot showing only results from 2021 drill program reported to date. Results in red are those reported for the South Palokas prospect in this press release. Dashed red rectangles show focus of 2021 resource expansion drilling program with historic drilling, resource areas and EM geophysical plates.

Table 1: Collar Information from 2020-21 drilling program at the Rajapalot Project (Finnish Grid, Projection KKJ3)

Hole ID	East	North	Azimuth	Dip	RL	Depth (m)	Prospect	Comment
PAL0235	3408208.1	7373667.8	047	-81.0	172.7	176.9 to 522.0	South Palokas	reported 29 June 2021
PAL0237	3409690	7374570	220	-61	180.4	68.5	Hirvimaa	reported 25 Nov 2020
PAL0238	3409662	7374613	220	-77	180.9	149.7	Hirvimaa	reported 25 Nov 2020
PAL0239	3410303.4	7372642.9	060	-66.0	151.0	41.7	Joki East	Abandoned, reported 25 Nov 2020
PAL0240	3410305.1	7372643.6	060	-66.0	151.2	281.7	Joki East	reported 25 Nov 2020
PAL0241	3410337.8	7372661.1	060	-66.0	151.3	236.4	Joki East	reported 25 Nov 2020
PAL0242	3410364.0	7372674.9	060	-66.0	150.6	236.8	Joki East	reported 25 Nov 2020
PAL0243	3410309.3	7372708.5	060	-67.5	151.4	239.7	Joki East	reported 21 Dec 2020
PAL0244	3410337.3	7372726.2	062	-68.0	151.4	251.7	Joki East	reported 21 Dec 2020
PAL0245	3410275.0	7372690.0	060	-66.0	151.4	257.5	Joki East	reported 21 Dec 2020
PAL0246	3410266.1	7372744.7	060	-71.0	152.3	287.6	Joki East	reported 21 Dec 2020
PAL0247	3410211.8	7372728.5	061	-64.0	151.5	293.4	Joki East	reported 21 Dec 2020
PAL0248	3411714.7	7371404.9	065	-60.0	124.9	323.6	Regional	reported 12 April 2021
PAL0249	3410204.0	7372724.3	064	-72.0	151.6	269.6	Joki East	reported 12 April 2021
PAL0250	3410404.0	7372632.2	060	-66.0	151.2	195.3	Joki East	reported 12 April 2021
PAL0251	3410374.9	7372616.9	060	-66.0	151.0	179.9	Joki East	reported 12 April 2021
PAL0252	3410435.4	7372651.2	060	-66.0	149.5	155.9	Joki East	reported 12 April 2021
PAL0253	3410154.1	7372819.7	061	-78.5	153.8	359.7	Joki East	reported 12 April 2021
PAL0254	3410153.2	7372821.5	061	-70.5	155.0	320.9	Joki East	reported 12 April 2021
PAL0255	3408125.6	7373140.2	090	-85.0	172.5	347.9	Hut	reported 12 April 2021
PAL0256	3408125.6	7373140.2	088	-72.0	172.5	272.6	Hut	reported 12 April 2021
PAL0257	3408126.6	7373140.2	087	-58.0	172.5	230.4	Hut	reported 12 April 2021
PAL0258	3407835.1	7372449.6	039	-85.0	172.3	389.8	Rumajärvi	Results awaited
PAL0259	3408064.0	7372937.0	057	-61.5	173.4	299.9	Hut	reported 12 April 2021
PAL0260	3408089.4	7373033.5	059	-70.0	173.1	320.6	Hut	reported 12 April 2021
PAL0261	3408064.0	7372937.0	057	-74.0	173.4	311.7	Hut	Results awaited
PAL0262	3408463.9	7373910.4	139	-73.0	173.6	358.9	Palokas	Results awaited
PAL0263	3408089.4	7373033.5	059	-84.0	173.1	329.8	Hut	reported 12 April 2021
PAL0264	3407834.0	7372449.7	039	-68.0	172.8	125.5	Rumajärvi	Results awaited
PAL0265	3407956.6	7373143.7	143	-49.0	172.1	301.8	Hut	reported 12 April 2021
PAL0266	3407835.1	7372448.6	210	-78.0	172.3	149.7	Rumajärvi	Results awaited
PAL0267	3407840.8	7372408.1	065	-48.2	172.7	268.9	Rumajärvi	Results awaited
PAL0268	3408186.3	7372767.6	060	-80.0	178.7	131.5	Terry's Hammer	Results awaited
PAL0269	3407956.6	7373143.7	126	-46.0	172.1	268.5	Hut	reported 12 April 2021
PAL0270	3408463.9	7373910.4	124	-59.0	173.6	289.8	Palokas	Results awaited
PAL0271	3408186.3	7372767.6	210	-85.0	178.7	120.0	Terry's Hammer	Results awaited
PAL0272	3407840.8	7372408.1	065	-73.0	172.7	302.6	Rumajärvi	Results awaited
PAL0273	3408215.8	7372746.9	119	-54.0	177.3	82.1	Terry's Hammer	Results awaited
PAL0274	3407956.6	7373143.7	114	-45.0	172.1	280.2	Hut	Results awaited
PAL0275	3408089.4	7373033.5	240	-81.0	173.1	161.8	Hut	Results awaited
PAL0276	3408467.8	7373868.1	128	-50.0	172.0	23.9	Palokas	Results awaited
PAL0277	3408090.7	7373033.0	056	-81.5	173.6	257.3	Hut	Results awaited
PAL0278	3407956.6	7373143.0	150	-50.0	172.1	280.0	Hut	Results awaited
PAL0279	3408467.8	7373868.1	128	-50.0	172.0	287.9	Palokas	Results awaited
PAL0280	3407641.8	7372426.8	061	-38.0	173.0	342.9	Rumajärvi	Results awaited
PAL0281	3408544.8	7373674.7	116	-60.0	173.5	146.3	South Palokas	Results awaited
PAL0282	3407941.4	7373070.5	061	-67.0	172.7	341.9	Hut	Results awaited
PAL0283	3408467.8	7373868.1	141	-52.1	173.5	277.9	Palokas	Results awaited
PAL0284	3408521.2	7373606.0	062	-79.0	173.6	146.6	South Palokas	Results awaited
PAL0285	3407641.8	7372426.9	061	-47.0	173.0	314.2	Rumajärvi	Results awaited
PAL0286	3408521.2	7373606.0	240	-69.0	173.6	149.4	South Palokas	Reported here
PAL0287	3407941.4	7373070.5	061	-76.0	172.7	346.7	Hut	Results awaited
PAL0288	3408521.2	7373606.0	240	-57.0	173.6	172.8	South Palokas	reported 29 June 2021
PAL0289	3408467.8	7373868.1	155	-52.0	172.0	305.2	Palokas	Results awaited
PAL0290	3408410.5	7373660.5	235	-78.0	174.0	335.6	South Palokas	reported 29 June 2021
PAL0291	3407941.4	7373070.5	061	-85.0	172.7	329.3	Hut	Results awaited
PAL0292	3408112.4	7372770.1	060	-61.0	172.4	149.1	Terry's Hammer	Results awaited
PAL0293	3408467.8	7373868.1	061	-68.0	172.0	344.3	Palokas	Results awaited
PAL0294	3407941.4	7373070.5	220	-87.0	172.7	353.7	Hut	Results awaited
PAL0295	3408821.1	7372287.6	058	-80.0	172.7	140.2	Raja	reported 13 July 2021
PAL0296	3408410.5	7373660.5	241	-71.5	174.0	368.7	South Palokas	Reported here
PAL0297	3408821.1	7372287.6	058	-66.0	172.7	169.4	Raja	reported 13 July 2021
PAL0298	3408466.5	7373867.0	128	-65.0	173.9	305.1	Palokas	Results awaited
PAL0299	3408410.5	7373660.5	241	-64.5	174.0	394.7	South Palokas	Reported here
PAL0300	3408821.1	7372287.6	245	-80.0	172.7	142.5	Raja	reported 13 July 2021
PAL0301	3407999.2	7373194.3	115	-57.0	172.1	335.0	Hut	Results awaited
PAL0302	3408912.5	7372341.5	238	-73.0	172.3	163.8	Raja	reported 13 July 2021
PAL0303	3407712.4	7373644.2	044	-75.5	172.7	629.2	South Palokas	Reported here
PAL0304	3407681.1	7373602.7	160	-58.0	173.6	125.2	South Palokas	Results awaited
PAL0305	3407649.8	7373660.5	050	-82.0	174.0	281.5	South Palokas	Reported here
PAL0306	3407843	7372798	60	-45	172.4	280.6	Rumajärvi	Results awaited
PAL0307	3408273	7373630	66	-85	174.66	352.9	South Palokas	Reported here
PAL0308	3408134	7373634	50	-77	173	515.6	South Palokas	Reported here
PAL0309	3407850	7372499	81	-74	172.5	202.5	Rumajärvi	Results awaited
PAL0310	3408610	7373895	167	-76	174.86	209.5	Palokas	Results awaited
PAL0311	3408610	7373895	96	-55	174.86	78.9	Palokas	Abandoned due to snow melt

Table 2: Intersections from the 2020-21 Winter Drill Program. Intersections are reported with a lower cut of 0.3 g/t AuEq (using long term forecast gold and cobalt prices of $1,599 per ounce and $19.93 per pound respectively) over 2 metre lower cut. No upper cut-off was applied. "<" is below detection limit of 0.05 g/t Au.

Prospect	Hole ID	From (m)	To (m)	Width (m)	Au g/t	Co ppm	AuEq g/t
South Palokas	PAL0235	439.5	454.7	15.2	3.0	998	3.9
South Palokas	PAL0235	494.1	495.3	1.2	0.3	0	0.3
Joki East	PAL0240	148.8	149.8	1.0	0.9	5	0.9
Joki East	PAL0240	165.1	167.5	2.4	0.1	1187	1.1
Joki East	PAL0241	168.6	170.2	1.6	28.3	1190	29.3
Joki East	PAL0242	154.0	158.5	4.4	7.3	735	7.9
Joki East	PAL0243	193.0	195.9	2.9	0.6	574	1.1
Joki East	PAL0245	177.1	178.4	1.3	25.3	2327	27.3
Joki East	PAL0245	191.0	191.5	0.5	23.0	3974	26.4
Joki East	PAL0245	194.8	196.9	2.1	2.8	806	3.5
Joki East	PAL0246	188.6	189.2	0.6	10.3	725	10.9
Joki East	PAL0246	204.4	212.4	7.9	0.7	323	1.0
Joki East	PAL0247	216.6	218.5	1.9	0.7	103	0.7
Joki East	PAL0247	220.9	230.0	9.1	4.3	457	4.7
Joki East	PAL0249	177.3	178.3	1.0	2.5	344	2.8
Joki East	PAL0250	87.5	89.2	1.7	2.0	159	2.1
Joki East	PAL0250	120.5	121.5	1.0	0.8	130	0.9
Joki East	PAL0250	125.2	128.1	2.9	1.5	782	2.2
Joki East	PAL0250	136.6	137.6	1.0	1.8	33	1.8
Joki East	PAL0251	146.5	146.9	0.5	0.4	15	0.4
Joki East	PAL0251	152.8	153.9	1.2	0.4	29	0.4
Joki East	PAL0252	117.0	118.5	1.5	18.1	1696	19.6
Joki East	PAL0254	215.0	218.1	3.1	0.4	107	0.5
Joki East	PAL0254	288.5	290.0	1.5	1.3	167	1.4
Hut	PAL0255	78.8	90.1	11.4	0.4	123	0.5
Hut	PAL0255	102.5	103.5	1.1	0.1	314	0.3
Hut	PAL0255	106.6	110.5	4.0	0.1	222	0.3
Hut	PAL0255	212.7	213.8	1.1	0.1	609	0.6
Hut	PAL0255	236.6	237.7	1.1	0.2	268	0.4
Hut	PAL0255	312.1	313.1	1.0	1.0	44	1.1
Hut	PAL0256	79.4	83.0	3.7	0.2	67	0.3
Hut	PAL0256	95.9	96.9	1.0	0.2	382	0.5
Hut	PAL0256	100.2	101.2	1.0	0.3	127	0.4
Hut	PAL0256	110.0	113.0	3.0	0.9	549	1.3
Hut	PAL0256	115.1	119.0	3.9	0.3	223	0.5
Hut	PAL0256	121.4	125.0	3.7	0.1	234	0.3
Hut	PAL0256	140.0	142.0	2.0	0.0	385	0.4
Hut	PAL0257	47.0	48.0	1.0	0.1	219	0.3
Hut	PAL0257	174.5	175.5	1.0	0.1	429	0.4
Hut	PAL0259	95.8	124.0	28.3	1.0	1090	2.0
Hut	PAL0259	126.3	150.3	24.0	1.0	1104	2.0
Hut	PAL0259	153.3	154.3	1.0	1.7	10	1.7
Hut	PAL0259	159.0	166.0	7.0	1.1	31	1.2
Hut	PAL0260	89.8	97.8	8.0	0.4	83	0.5
Hut	PAL0260	109.0	114.4	5.4	3.0	262	3.2
Hut	PAL0260	290.5	291.5	1.0	0.1	1357	1.2
Hut	PAL0263	98.7	99.9	1.1	2.2	473	2.6
Hut	PAL0263	103.0	116.6	13.6	1.2	98	1.3
Hut	PAL0263	121.5	125.8	4.3	2.3	26	2.3
Hut	PAL0263	222.3	231.5	9.2	1.1	256	1.3
Hut	PAL0265	203.2	204.2	1.0	1.0	11	1.0
Hut	PAL0265	231.6	241.6	10.0	0.8	406	1.1
Hut	PAL0269	185.7	186.7	1.0	0.1	461	0.5
Hut	PAL0269	191.7	193.8	2.1	5.2	275	5.5
Hut	PAL0269	195.9	210.9	15.0	1.0	307	1.3
Hut	PAL0269	214.9	215.9	1.0	0.6	14	0.6
Hut	PAL0269	219.4	222.4	3.0	3.1	13	3.1
Hut	PAL0269	250.0	250.9	0.8	1.8	66	1.9
South Palokas	PAL0286	100.6	115.6	15.0	0.2	669	0.8
South Palokas	PAL0288	119.0	130.0	11.0	4.0	756	4.6
South Palokas	PAL0288	134.0	140.0	6.0	0.3	448	0.7
South Palokas	PAL0290	186.0	194.0	8.0	0.3	394	0.6
South Palokas	PAL0290	197.0	198.0	1.0	0.7	142	0.8
South Palokas	PAL0290	201.0	203.0	2.0	<0.3	372	0.3
South Palokas	PAL0290	229.8	230.8	1.0	0.1	444	0.4
South Palokas	PAL0290	240.0	260.0	20.0	1.7	529	2.1
Raja	PAL0295	31.6	37.6	6.0	<0.3	1054	0.9
Raja	PAL0295	40.7	41.7	1.0	<0.3	930	0.8
Raja	PAL0295	49.3	50.3	1.0	0.7	175	0.8
Raja	PAL0295	53.3	69.0	15.7	3.8	783	4.5
South Palokas	PAL0296	203.5	204.5	1.0	0.3	194	0.5
South Palokas	PAL0296	254.0	278.0	24.0	1.3	538	1.8
South Palokas	PAL0296	281.0	291.4	10.4	0.4	141	0.5
South Palokas	PAL0296	322.5	329.5	7.0	1.8	288	2.0
Raja	PAL0297	40.9	45.9	5.0	<0.3	1127	1.0
Raja	PAL0297	65.4	68.4	3.0	2.8	263	3.0
Raja	PAL0297	74.0	94.7	20.7	7.4	111	7.5
Raja	PAL0297	97.7	106.2	8.5	2.3	812	3.0
South Palokas	PAL0299	339.0	341.0	2.0	0.7	167	0.8
Raja	PAL0302	97.4	99.4	2.0	7.1	96	7.2
Raja	PAL0302	125.4	126.4	1.0	0.4	33	0.4
Raja	PAL0302	144.0	148.4	4.4	1.6	512	2.0
South Palokas	PAL0303	553.2	584.0	30.8	3.9	1403	5.1
South Palokas	PAL0303	597.8	600.8	3.0	0.0	498	0.5
South Palokas	PAL0303	613.7	616.2	2.5	0.0	1703	1.5
South Palokas	PAL0305	190.7	192.7	2.0	0.5	15	0.5
South Palokas	PAL0305	196.7	197.7	1.0	0.4	80	0.5
South Palokas	PAL0305	201.3	203.3	2.0	1.9	110	2.0
South Palokas	PAL0305	220.9	237.6	16.7	0.6	639	1.1
South Palokas	PAL0307	305.4	308.6	3.2	0.3	499	0.7
South Palokas	PAL0308	439.5	461.8	22.3	0.6	751	1.3
South Palokas	PAL0308	494.0	502.5	8.5	3.1	866	3.9

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

Hole ID	From (m)	To (m)	Width (m)	Au g/t	Co ppm	AuEq g/t
PAL0286	100.6	101.6	1.0	0.1	448	0.5
PAL0286	101.6	102.6	1.0	0.2	1362	1.4
PAL0286	102.6	103.6	1.0	0.1	621	0.6
PAL0286	103.6	104.6	1.0	0.8	658	1.4
PAL0286	105.6	106.6	1.0	0.1	467	0.5
PAL0286	106.6	107.6	1.0	0.4	11	0.4
PAL0286	109.6	110.6	1.0	0.8	897	1.6
PAL0286	110.6	111.6	1.0	0.2	796	0.8
PAL0286	111.6	112.6	1.0	0.0	944	0.8
PAL0286	112.6	113.6	1.0	<	532	0.5
PAL0286	113.6	114.6	1.0	0.1	784	0.7
PAL0286	114.6	115.6	1.0	0.2	2163	2.0
PAL0296	203.5	204.5	1.0	0.3	194	0.5
PAL0296	204.5	205.5	1.0	0.2	135	0.3
PAL0296	254.0	255.0	1.0	0.7	188	0.8
PAL0296	255.0	256.0	1.0	0.6	303	0.9
PAL0296	256.0	257.0	1.0	2.9	732	3.5
PAL0296	257.0	258.0	1.0	1.8	518	2.3
PAL0296	258.0	259.0	1.0	1.2	362	1.5
PAL0296	259.0	260.0	1.0	2.3	503	2.7
PAL0296	260.0	261.0	1.0	1.0	651	1.5
PAL0296	261.0	262.0	1.0	3.2	476	3.6
PAL0296	262.0	263.0	1.0	0.7	591	1.2
PAL0296	263.0	264.0	1.0	3.8	691	4.4
PAL0296	264.0	265.0	1.0	4.6	893	5.4
PAL0296	265.0	266.0	1.0	2.4	293	2.7
PAL0296	266.0	267.0	1.0	0.6	397	0.9
PAL0296	267.0	268.0	1.0	0.7	1169	1.7
PAL0296	268.0	269.0	1.0	0.3	852	1.0
PAL0296	269.0	270.0	1.0	3.0	947	3.8
PAL0296	270.0	271.0	1.0	1.0	710	1.6
PAL0296	271.0	272.0	1.0	0.1	335	0.4
PAL0296	272.0	273.0	1.0	0.1	221	0.3
PAL0296	273.0	274.0	1.0	0.3	487	0.7
PAL0296	274.0	275.0	1.0	0.2	416	0.6
PAL0296	275.0	276.0	1.0	0.4	341	0.7
PAL0296	276.0	277.0	1.0	0.2	440	0.6
PAL0296	277.0	278.0	1.0	0.2	408	0.5
PAL0296	280.0	281.0	1.0	0.2	117	0.3
PAL0296	281.0	282.0	1.0	0.3	127	0.4
PAL0296	282.0	283.0	1.0	0.3	35	0.3
PAL0296	283.0	284.0	1.0	0.7	106	0.7
PAL0296	284.0	285.0	1.0	0.4	88	0.5
PAL0296	285.0	286.0	1.0	0.1	392	0.4
PAL0296	288.0	289.0	1.0	0.8	342	1.1
PAL0296	289.0	290.0	1.0	1.2	246	1.4
PAL0296	290.0	291.4	1.4	0.4	42	0.5
PAL0296	322.5	323.5	1.0	5.4	307	5.7
PAL0296	323.5	324.5	1.0	3.6	380	3.9
PAL0296	324.5	325.5	1.0	0.4	256	0.6
PAL0296	325.5	326.5	1.0	0.2	292	0.5
PAL0296	326.5	327.5	1.0	0.4	233	0.6
PAL0296	327.5	328.5	1.0	0.9	294	1.2
PAL0296	328.5	329.5	1.0	1.5	252	1.8
PAL0299	339.0	340.0	1.0	0.4	319	0.7
PAL0299	340.0	341.0	1.0	1.0	15	1.0
PAL0299	341.0	341.9	0.9	0.3	7	0.3
PAL0303	553.2	554.2	1.0	0.1	842	0.8
PAL0303	554.2	555.2	1.0	<	429	0.4
PAL0303	555.2	556.2	1.0	<	383	0.4
PAL0303	556.2	556.9	0.7	<	382	0.4
PAL0303	556.9	557.9	1.0	0.1	1172	1.1
PAL0303	557.9	558.9	1.0	0.1	1810	1.7
PAL0303	558.9	559.9	1.0	0.3	1910	1.9
PAL0303	560.9	561.9	1.0	0.4	843	1.1
PAL0303	561.9	562.9	1.0	1.8	1010	2.6
PAL0303	562.9	563.9	1.0	1.1	2472	3.2
PAL0303	563.9	564.9	1.0	8.9	2164	10.7
PAL0303	564.9	565.9	1.0	1.8	1685	3.3
PAL0303	565.9	566.9	1.0	1.8	1640	3.2
PAL0303	566.9	567.9	1.0	3.1	3618	6.2
PAL0303	567.9	568.9	1.0	3.8	2101	5.6
PAL0303	568.9	569.9	1.0	2.2	3517	5.2
PAL0303	569.9	570.9	1.0	5.0	1261	6.1
PAL0303	570.9	571.9	1.0	5.0	1211	6.0
PAL0303	571.9	572.9	1.0	7.8	1712	9.3
PAL0303	572.9	573.9	1.0	30.6	720	31.2
PAL0303	575.0	576.0	1.0	8.9	1036	9.8
PAL0303	576.0	577.0	1.0	1.5	2026	3.2
PAL0303	577.0	578.0	1.0	3.2	1583	4.5
PAL0303	578.0	579.0	1.0	7.9	2267	9.8
PAL0303	579.0	580.0	1.0	3.1	1592	4.4
PAL0303	580.0	581.0	1.0	5.5	1030	6.4
PAL0303	581.0	582.0	1.0	11.0	949	11.8
PAL0303	582.0	583.0	1.0	3.3	1059	4.2
PAL0303	583.0	584.0	1.0	1.5	662	2.1
PAL0303	597.8	598.8	1.0	<	680	0.6
PAL0303	599.8	600.8	1.0	<	727	0.6
PAL0303	613.7	614.7	1.0	0.0	1858	1.6
PAL0303	614.7	615.3	0.7	<	1186	1.0
PAL0303	615.3	616.2	0.9	0.1	1904	1.7
PAL0305	174.0	175.0	1.0	0.3	21	0.3
PAL0305	190.7	191.7	1.0	0.7	8	0.7
PAL0305	191.7	192.7	1.0	0.3	21	0.3
PAL0305	196.7	197.7	1.0	0.4	80	0.5
PAL0305	200.3	201.3	1.0	0.3	33	0.3
PAL0305	201.3	202.3	1.0	3.5	179	3.7
PAL0305	202.3	203.3	1.0	0.4	41	0.4
PAL0305	213.7	214.7	1.0	0.1	141	0.3
PAL0305	220.9	221.9	1.0	0.1	550	0.6
PAL0305	223.0	224.2	1.2	0.2	652	0.7
PAL0305	224.2	225.2	1.0	0.7	1725	2.2
PAL0305	225.2	226.2	1.0	1.1	981	1.9
PAL0305	226.2	227.2	1.0	0.2	1523	1.5
PAL0305	227.2	228.2	1.0	0.1	292	0.4
PAL0305	228.2	229.5	1.3	1.4	1021	2.3
PAL0305	229.5	230.5	1.0	0.1	320	0.4
PAL0305	230.5	231.5	1.0	3.5	776	4.1
PAL0305	232.5	233.7	1.2	0.2	871	0.9
PAL0305	233.7	234.7	1.0	<	294	0.3
PAL0305	234.7	235.9	1.2	0.1	434	0.5
PAL0305	235.9	236.8	1.0	0.1	437	0.5
PAL0305	236.8	237.6	0.8	1.2	56	1.2
PAL0307	305.4	306.4	1.0	0.7	492	0.7
PAL0307	306.4	307.6	1.2	0.1	586	0.1
PAL0307	307.6	308.6	1.0	0.1	401	0.1
PAL0308	438.5	439.5	1.0	0.1	274	0.3
PAL0308	439.5	440.5	1.0	0.1	2522	2.3
PAL0308	440.5	441.5	1.0	0.2	2876	2.6
PAL0308	441.5	442.5	1.0	0.3	939	1.1
PAL0308	442.5	443.5	1.0	0.3	1488	1.6
PAL0308	443.5	444.5	1.0	3.1	490	3.5
PAL0308	444.5	445.5	1.0	4.3	347	4.6
PAL0308	445.5	446.5	1.0	0.4	177	0.5
PAL0308	446.5	447.5	1.0	0.3	216	0.5
PAL0308	447.5	448.5	1.0	0.2	125	0.3
PAL0308	448.5	449.7	1.3	0.1	492	0.5
PAL0308	449.7	450.7	1.0	1.7	1098	2.6
PAL0308	450.7	451.7	1.0	0.5	1271	1.6
PAL0308	451.7	452.7	1.0	0.4	668	0.9
PAL0308	452.7	453.7	1.0	0.3	543	0.7
PAL0308	453.7	454.7	1.0	0.2	468	0.6
PAL0308	454.7	455.7	1.0	0.6	387	1.0
PAL0308	455.7	456.7	1.0	0.3	395	0.6
PAL0308	456.7	457.7	1.0	0.3	335	0.5
PAL0308	457.7	458.7	1.0	0.1	290	0.4
PAL0308	458.7	459.7	1.0	0.2	282	0.4
PAL0308	459.7	460.7	1.0	0.1	673	0.7
PAL0308	460.7	461.7	1.0	0.1	505	0.5
PAL0308	492.6	493.6	1.0	0.2	649	0.7
PAL0308	494.0	495.0	1.0	4.0	610	4.6
PAL0308	495.0	496.0	1.0	0.2	653	0.7
PAL0308	496.0	497.0	1.0	0.3	1237	1.4
PAL0308	497.0	498.0	1.0	0.6	1128	1.6
PAL0308	498.0	499.0	1.0	16.1	1478	17.4
PAL0308	499.0	500.0	1.0	3.5	704	4.1
PAL0308	500.0	501.0	1.0	1.5	830	2.2

SOURCE: Mawson Gold Limited

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https://www.accesswire.com/658098/Mawson-Drills-308-Metres-at-39-GT-Gold-and-1403-ppm-Cobalt-in-120-Metre-Step-Out-in-Deepest-Drillhole-at-South-Palokas-Finland

FAQ

What are the latest drill results from Mawson Gold Limited (MWSNF)?

Mawson Gold Limited reported drill results from the South Palokas prospect, revealing significant intersections including 30.8 meters at 3.9 g/t Au from hole PAL0303.

When is the resource upgrade expected for Mawson Gold's Rajapalot project?

A resource upgrade for the Rajapalot project is scheduled for August 2021.

How many holes were drilled in the 2020/21 drilling program by Mawson Gold (MWSNF)?

Mawson Gold completed a total of 76 drill holes totaling 19,422 meters in the 2020/21 drilling program.

What is the significance of the drill hole PAL0303?

PAL0303 is significant as it showed high-grade mineralization, drilling down 30.8 meters at 3.9 g/t Au, confirming the potential for resource expansion at South Palokas.