Ms. Noora Ahola reports

MAWSON'S SUBSIDIARY SXG INTERSECTS 0.6 M @ 161.6 G/T AUEQ (87.6 G/T AU, 46.8 %SB) FROM NEW VEIN, AT SUNDAY CREEK, VICTORIA, AUSTRALIA

Mawson Gold Ltd. has released results from six drill holes at Sunday Creek, Australia (SDDSC067, SDDSC069 to SDDSC072, SDDSC075).

Highlights include 0.6-metre at 161.6 grams per tonne gold equivalent (87.6 g/t gold, 46.8 per cent antimony) from 415.7 m in SDDSC067, drilled into a new vein west of the Rising Sun area, indicating the prospectivity and opportunity for further high-grade discoveries across the Sunday Creek project, with a majority of the core area undrilled to date.

Sunday Creek is 100 per cent owned by Southern Cross Gold Ltd. (SXG), which is an Australian Securities Exchange-listed company owned 51 per cent by Mawson.

Highlights:

• Six drill holes are reported with some of the highest grades of antimony (up to 54.0 per cent Sb) and gold (up to 140.0 g/t Au) on the project. All holes demonstrate continuity of mineralized structures from near surface to 700 m vertical depth.
• SDDSC067 drilled a new vein to the west of the Rising Sun vein, previously only intersected by SDDSC050. SDDSC067 was drilled 115 m above SDDSC050 and highlights the continuity of mineralized structures at Sunday Creek. Highlights included:
  • 0.6 m at 161.6 g/t AuEq (87.6 g/t Au, 46.8 per cent Sb) from 415.7 m, including:
    • 0.1 m at 170.5 g/t AuEq (140.0 g/t Au, 19.3 per cent Sb) from 415.7 m;
    • 0.5 m at 159.3 g/t AuEq (74.0 g/t Au, 54.0 per cent Sb) from 415.8 m.
• SDDSC069 tested the Windsor Castle vein east of Rising Sun. The hole was drilled perpendicularly across SDDSC053 and demonstrated continuity of higher-grade mineralization. Highlights included:
  • 2.1 m at 6.2 g/t AuEq (5.0 g/t Au, 0.7 per cent Sb) from 294.4 m, including:
    • 0.4 m at 24.7 g/t AuEq (21.0 g/t Au, 2.3 per cent Sb) from 294.4 m.

Noora Ahola, Mawson's interim chief executive officer, stated: "These high-grade antimony and gold results are again a remarkable indication of what's still to be discovered at the Sunday Creek project. Hole by hole the project is developing for SXG into a significant project, which adds significantly to Mawson's underlying value."

Results discussion

Five drill holes (SDDSC067, SDDSC069 to SDDSC072) were drilled into the central portion of the Sunday Creek prospect, where four vein sets (Rising Sun, Windsor Castle, two unnamed) over a 60 m true thickness have been drilled from surface and, in the case of the Rising Sun vein, to 900 m depth.

A sixth hole, SDDSC075, is the first hole to test the 200 m wide gap between Rising Sun and Gladys. The hole successfully proved the continuity of mineralization. Individual hole descriptions follow:

• SDDSC067 drilled some of the highest grades of antimony (up to 54.0 per cent Sb) and gold (up to 140.0 g/t Au) on the project. The hole followed 115 m above a single intersection in SDDSC050, to the west of the Rising Sun vein, and successfully defined a new, high-grade vein. Highlights included:
  • 0.6 m at 161.6 g/t AuEq (87.6 g/t Au, 46.8 per cent Sb) from 415.7 m, including:
    • 0.1 m at 170.5 g/t AuEq (140.0 g/t Au, 19.3 per cent Sb) from 415.7 m;
    • 0.5 m at 159.3 g/t AuEq (74.0 g/t Au, 54.0 per cent Sb) from 415.8 m.
• SDDSC069 tested the Windsor Castle vein east of Rising Sun. The hole was drilled perpendicularly across SDDSC053 and demonstrated continuity of higher-grade mineralization. Highlights included:
  • 2.1 m at 6.2 g/t AuEq (5.0 g/t Au, 0.7 per cent Sb) from 294.4 m, including:
    • 0.4 m at 24.7 g/t AuEq (21.0 g/t Au, 2.3 per cent Sb) from 294.4 m.
• The same vein was tested up dip in SDDSC072, with lower-grade results (see an attached table).
• SDDSC070 was drilled to test the easternmost extents of mineralization (in the central zone), 30 m to the north of SDDSC050 mineralization, and hit three different vein structures of similar tenor (one higher grade):
  • 5.2 m at 2.6 g/t AuEq (2.6 g/t Au) from 766.0 m, including:
    • 0.9 m at 11.5 g/t AuEq (11.5 g/t Au) from 766.8 m.
• SDDSC071 intersected the Rising Sun vein in a 90 m gap between MDDSC020 and MDDSC021, again demonstrating down-dip continuity over large distances. Highlights included:
  • 7.1 m at 4.0 g/t AuEq (2.0 g/t Au, 1.3 per cent Sb) from 270.0 m, including:
    • 3.0 m at 7.9 g/t AuEq (3.6 g/t Au, 2.7 per cent Sb) from 270.0 m.
  • 8.8 m at 1.2 g/t AuEq (0.7 g/t Au, 0.4 per cent Sb) from 280.5 m, including:
    • 0.5 m at 5.2 g/t AuEq (2.0 g/t Au, 2.1 per cent Sb) from 281.4 m.
• SDDSC075 is the first hole to test the 200 m wide gap between Rising Sun and Gladys. The hole successfully proved the continuity of mineralization, albeit at lower grade. Further drilling is warranted to target higher-grade portions of the veins. Better results included 2.5 m at 1.0 g/t AuEq (0.9 g/t Au, 0.1 per cent Sb) from 225.7 m.

Further discussion and analysis of the Sunday Creek project by Southern Cross Gold are available on the SXG website.

The true thickness of the mineralized intervals reported are interpreted to be approximately 60 per cent to 70 per cent of the sampled thickness. Lower grades were cut at a 0.3 g/t Au lower cut-off over a maximum width of three m, with higher grades cut at a 5.0 g/t Au cut-off over a maximum of one m width, unless otherwise stated.

Update on current drilling

Drilling with three rigs is in progress at Sunday Creek. Five holes (SDDSC068, SDDSC073, SDDSC074, SDDSC076, SDDSC078) are currently being geologically processed and analyzed, with three holes (SDDSC077B, SDDSC079, SDDSC080) in drill progress. A fourth rig is being upgraded and is expected to return to the site over the next four weeks.

Twelve holes (SDDTS001 to SDDTS007, SDDCN001, SDDLV001 to SDDLV004) for 2,383 m (including two redrilled collars) have now been completed at the Leviathan-Consols-Tonstals regional area between 3.5 kilometres and 7.5 kilometres along strike from the main drill area. Results from initial holes are expected shortly.

Technical background and qualified person

The qualified person, Michael Hudson, executive chairman and a director of Mawson Gold, a fellow of the Australasian Institute of Mining and Metallurgy, has reviewed, verified and approved the technical contents of this release.

Analytical samples are transported to the Bendigo facility of On Site Laboratory Services, which operates under both ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25-gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multielement analysis (BM011 and overrange methods, as required) use aqua regia digestion and ICP-MS analysis. The quality assurance/quality control program of Southern Cross Gold consists of the systematic insertion of certified standards of known gold content, blanks within interpreted mineralized rock and quarter-core duplicates. In addition, On Site inserts blanks and standards into the analytical process.

About Mawson Gold Ltd.

Mawson Gold is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with its 100-per-cent-owned, flagship Rajapalot gold-cobalt project in Finland, and right to earn into the Skelleftea North gold project in Sweden. Mawson also owns 51 per cent of Southern Cross Gold, which, in turn, owns or controls three high-grade, historical, epizonal goldfields covering 470 square kilometres in Victoria, Australia.

We seek Safe Harbor.