High Grade Gold-Cobalt Resource Expansion in Finland Corporate Presentation January 2019 @mawsonresource TSX : MAW; OTCPINK : MWSNF www.mawsonresources.com
Disclaimer Accuracy of Information: Readers are directed to the public disclosure of Mawson Resources Limited (“Mawson”) available under Mawson’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com. Information contained in this presentation was believed to be accurate at the time it was posted, but may be superseded by more recent public disclosure of Mawson. Mawson makes no representations or warranties as to the accuracy, reliability, completeness or timeliness of the information in this presentation. Forward-Looking Information: Some of the statements contained in this presentation may be forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. 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, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, 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. 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 does not assume the obligation to revise or update forward- looking statements or information that may be contained in this presentation or to revise them to reflect the occurrence of future unanticipated events. Qualified Person: The qualified person for Mawson’s projects, Nick Cook, President for Mawson, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this presentation. 18 Jan. 2018 2
Finland – New Discoveries 2011 2012 Diamond drilling ROM0011: 6 m @ 617 g/t Au 2015 2017 2018 1 cm PAL0093 Gold 3
Investment Highlights Significant and strategic regional-scale gold-cobalt discovery in ▪ Northern Finland Top three in-country gold resources and growing fast ▪ Constrained Inferred Mineral Resource of 424,000 ounces of ▪ gold at 3.1 g/t AuEq (Dec 2018) Open-pittable grade 2.8 g/t AuEq and UG grade 5.2 g/t AuEq. ▪ Substantial potential to grow, with only 20% (800m) of the 4km ▪ trend to shallow depths (av. depth drilling 88m) 15,000 resource expansion drill program starts Jan ’19 ▪ Fully financed for this drill season ▪ Strategic & institutional shareholder base +60% (incl. ▪ Goldcorp, Areva, private equity and US endowments) 4
Ownership & Capital Structure Capitalization Summary Major Shareholder Summary Share Price (17 Jan. 2019) C$0.23 Shares (M) % Sentient Equity Partners 37.8 26.7 Basic Shares Outstanding 141.6M Goldcorp 18.0 12.7 Fully Diluted 171.9M Other Institutions 34.6 24.4 Basic Market Capitalization C$32.6M TOTAL 90.4 63.8 Cash (est. 17 Jan. 2018) C$7.5M Insiders 7.3 5.1 TOTAL ENTERPRISE VALUE C$25.1M Management & Board aligned with investors Warrants and Options Share Price Performance – 1 Year Stock Options 23 Sep ’19 $0.35 4,620,000 12 May ’20 $0.365 50,000 15 Jun ’20 $0.39 400,000 Warrants 02 Dec ’19 $0.60 7,500,000 08 Dec ’19 $0.44 773,702 08 Dec ’19 $0.50 7,512,933 14 Feb ’20 $0.65 9,500,000 Exchanges: TSX : MAW; OTCPINK : MWSNF; Frankfurt : MXR 5
Discovery is About Leadership Directors Management Advisers Noora Ahola Michael Hudson Georgina Carnegie Environmental Chairman & CEO World Bank, OECD Nick DeMare 28 yrs Geology, Capital Dr. Erkki Vanhanen Markets CPA Finnish Gold Exploration Dr. Nick Cook David Henstridge President Gil Leathley Geologist 24 yrs Geology Mining Engineer Michael Hudson Noora Ahola Geologist Environmental Director 12 yrs Finnish Env. Colin Maclean Administration Geologist / Finance Mariana Bermudez Mark Saxon Corporate Secretary Geologist Tapani Hyysalo Philip Williams Manager Operations Finland Corporate Finance Nick Demare CFO 6
Nordics: Rocks & Opportunity The World ´ s Highly Prospective Mineral Regions Metal basket of Europe ▪ +500 year history, ▪ many Tier 1 projects Reformation since early ▪ 1990’s. Clear guidelines Map by Risto Pietilä Finland is the new “Klondike”, new discoveries, shallow cover, entry of significant players 7
Finland is a Mining Country Kittilä Snapshot Investment Attractiveness Index 7.4Moz Au Kittilä mine “The top jurisdiction in the world for investment based on the Investment Attractiveness Index is Finland.” Finland hosts the largest primary gold producer in Europe Huge Benefits for Developers Safe Skilled workforce ▪ ▪ Cheap Grid Power Airport ▪ ▪ Water No FIFO ▪ ▪ 100 km Roads 20% tax ▪ ▪ 8
Rompas-Rajapalot Prospect Locations Main gold- cobalt work focused to date 9
Resource Upside Evident and Growing A pit and underground Constrained Inferred Mineral ▪ Resource of 424,000 ounces at 3.1 g/t AuEq (4.3 million tonnes at 2.3 g/t Au, 430 ppm Co) at 0.37 g/t AuEq cut-off open pit and 2 g/t AuEq underground Unconstrained Inferred Mineral Inventory for the Palokas and Raja ▪ prospects of 482,000 ounces 2.4 g/t AuEq (6.2 million tonnes at 1.7 g/t Au, 410 ppm Co) at 0.4 g/t AuEq cut-off. The constrained resource demonstrates the high-grade of Rajapalot ▪ with open-pittable grades of 2.8 g/t AuEq (2.1 g/t Au and 420 ppm Co) and underground grades of 5.2 g/t AuEq (4.4 g/t Au and 520 ppm Co) First resource estimate has potential to grow substantially: ▪ only 20% (800 metres) of the 4 kilometres known mineralized ▪ trend included within the maiden resource to relatively shallow depths (average depth of drilling 88 metres within 34.2 kilometres drilled to date at Rajapalot) Electromagnetics (EM) driving targeting below and along strike from ▪ resource areas 10
EM Drives Resources Expansion Area surveyed by Area of ground fixed loop TEM survey underway TEM survey to date Palokas Maiden Resource Block Model PRAJ0003 13.0m @ 8.3 g/t AuEq from 0m PRAJ0009 30.8m @ 8.2 g/t AuEq from 2.5m PRAJ0107 15.0m @ 8.7 g/t AuEq from 24.7m AuEQ g/t PRAJ0109 33.0m @ 4.2 g/t AuEq from 38.7m VTEM and TEM Plates doubling resource area down dip South Palokas Maiden Resource Block Model VTEM plus Plates Fixed Loop TEM Plates The Hut extending PAL0033: 2.2m @ 7.9 g/t AuEq from 152.5m resource area +1km length Raja Maiden Resource Block Model PAL0118 20.7m @ 5.6 g/t AuEq from 365.3m PAL0062 13.5m @ 4.5 g/t AuEq from 180.0m PAL0092 5.0m @ 16.1 g/t AuEq from 245.0m PAL0093 33.6m @ 9.7 g/t AuEq from 244.1m PAL0097 11.0m @ 2.6 g/t AuEq from 276.3m Rumajärvi/ PAL0037: 19.5m @ 2.1 g/t AuEq from 20.5m PAL0040: 8.0m @ 1.6 g/t AuEq from 35.3m 1 km 11
Resource Upside Evident South Palokas Raja Cross Section TEM Plate and Block Model Longitudinal View to NE Grade Block Model and TEM Plates NW SE AuEq g/t 100 metres PAL0016: 8.4 m @ 5.9 g/t AuEq from 206m 100 metres AuEq g/t Open TEM Plate VTEM Plate Open Conductors continue to depth, below resource block models 12
Longitudinal Section: Raja Prospect B’ B Ground Fixed Loop EM conductor extends to +1km down plunge from surface 13
Finland’s Strategic Cobalt New Exploration Technologies EU contribution: €6,901,276 Mawson Participant Finland refines half the world’s cobalt outside of China. The world’s largest cobalt refinery is ▪ located 400 kilometres to the south of Rajapalot CRU estimates refining of 22,734 tonnes of cobalt in Finland (2017) (or 18.4% of world refined ▪ cobalt production of ~123,000 tonnes), with 90% of Finnish refined cobalt sourced from several Chinese-owned mines in the DRC Meanwhile, Finland mines just 650 tonnes or 0.5% of the world's cobalt ▪ Finland and Sweden are on the hunt for an ethical sources with a traceable ledger for cobalt, ▪ Mawson can support Finland’s ethical and considered crucial for achieving climate goals. sustainable needs. 14
Rajapalot Gold Metallurgical Test Work Excellent results of total 95% - 99% (average 97%) obtained by a combination ▪ of gravity (26-48%) and conventional cyanidation* *SGS Cornwall Mineralogical work shows cobalt hosted in cobaltite (85% mass) and linneate (15% mass) in ▪ certain areas and cobalt pentlandite only in other areas 15
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