Mr. Michael Hudson reports

MAWSON ANNOUNCES LISTING ON TSX VENTURE EXCHANGE AND CORPORATE UPDATE

Mawson Gold Ltd. has received final approval from the TSX Venture Exchange to list the common shares of Mawson on the TSX-V as a Tier 2 mining issuer. The Mawson shares will be delisted from the Toronto Stock Exchange at the close of trading on Jan. 3, 2024, and trading on the TSX-V will commence at market open on Jan. 4, 2024, under the symbol MAW. The company's Cusip 577789100 and ISIN CA5777891006 remain unchanged.

Corporate update

1. Sale of the Rajapalot gold-cobalt (Au-Co) project in Finland to Springtide Capital was successfully completed on Dec. 20, 2023

Springtide Capital acquired all of the issued shares and intercompany debt of Mawson's wholly owned Finnish subsidiary, Mawson Oy, which holds Rajapalot, for total consideration of $6.5-million. Springtide raised $14,121,835 pursuant to a non-brokered financing, of which $6.5-million was used by Springtide to pay the purchase price for Mawson Oy, and has received future commitments of over $2,671,500 for the subsequent brokered offering. The balance from the non-brokered financing and the expected proceeds from the brokered financing, totalling approximately $10.3-million, will be used by Springtide to finance resource expansion at Rajapalot and for general working capital.

All Mawson shareholders are reminded that they can participate in the brokered financing to be undertaken by Springtide on terms consistent with the non-brokered financing concurrently with Springtide's completion of a go-public event. It is anticipated that Springtide will engage an agent for the brokered financing and that agent's fees will be paid by Springtide on the brokered financing.

Shareholders who wish to participate in the brokered financing are encouraged to contact Neil MacRae at 1-778-999-4653 or Mawson directly at info@mawsongold.com as soon as possible. Springtide shall use its reasonable best efforts to complete a go-public event on the TSX-V on or before March 31, 2024.

2. Distribution of Mawson's 93.75 million Southern Cross Gold Ltd. shares to Mawson's shareholders

Once the two-year Australian Securities Exchange (ASX) escrow period ends on May 16, 2024, Mawson anticipates undertaking an in-specie distribution by way of a plan of arrangement under the Business Corporations Act (British Columbia) of the 93.75 million ordinary share it holds in Southern Cross (SXG), currently representing 51 per cent of the issued and outstanding SXG shares, to the shareholders. Another special meeting of the shareholders to approve the distribution will be required after the escrow period expires and Mawson expects to call the arrangement approval meeting in due course.

3. Mawson to focus on Swedish gold and, subject to Swedish regulatory change, uranium properties

Mawson will focus on its option and joint venture agreement to earn up to an 85-per-cent interest in the Skelleftea North gold project (see company's news releases dated Jan. 17, 2022, and Oct. 11, 2022) and other projects in Sweden, including six exploration licences: Bjorklund nr 1 and 2, Bjorkramyran nr 3, Kvarnan nr 5, Nojdfjallet nr 1, and Skuppesavon nr 2 for 16,138 hectares. All these exploration licences are granted and are located through central and northern Sweden to explore for zirconium, scandium, yttrium, and lanthanum and other lanthanides (rare earths).

These projects also host the majority of Sweden's conventional hard-rock historic uranium resources (combined 22.7 million pounds U3O8 (triuranium octoxide)) that saw significant exploration by the Swedish government during the 1980s. These Swedish uranium assets are considered to provide a valuable option on the potential for Sweden regulation changes regarding uranium exploration and development.

Although Sweden benefits from having 40 per cent of its electricity supply generated by nuclear energy, a uranium exploration and mining moratorium has been in place in the country since May, 2018. The Swedish government has indicated a positive stance on re-evaluating and lifting the moratorium. Exploration, development and mining of these projects are still possible under the current Swedish Minerals Act; however, recovery of uranium in a mining scenario would not be permitted under the current mineral legislation.

Sweden's current centre-right coalition government has given strong support to expand nuclear power in Sweden. There are currently six operating nuclear reactors in Sweden that supply approximately 40 per cent of the country's electricity. The Swedish government has called for the possible restart of Ringhals nuclear power plant units 1 and 2, as well as to prepare for the construction of new reactors.

About Mawson Gold Ltd.

Mawson Gold has distinguished itself as a leading Nordic exploration company. Over the last decades, the team behind Mawson has forged a long and successful record of discovering, financing and advancing mineral projects in the Nordics and Australia. Mawson holds the Skelleftea North gold discovery and a portfolio of historic uranium resources in Sweden. Mawson also holds 51 per cent of Southern Cross which owns or controls three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia, including the exciting Sunday Creek gold-antimony discovery.

We seek Safe Harbor.