Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MRY. Mr Michael Hudson, President & CEO, announces that as a result of a review by the British Columbia Securities Commission ("BCSC"), we are issuing this news release to clarify our disclosure.
The BCSC identified National Instrument 43-101 ("NI 43-101") compliance issues on the Company's website, corporate presentation and 2 page investor relation summary. Firstly, the Company's 2 page summary and corporate presentation disclosed resource estimates for its Scandinavian uranium properties that did not report each resource category separately, added inferred mineral resources to other categories and disclosed resources solely in the form of contained metal content. On certain pages on its website the Company had not updated the Nuottijärvi resource in Finland from an historic to NI 43-101 resource which was completed in September 2010. An exploration target for the Tåsjo project on an overview page of the Company's website did not contain the necessary cautionary language. On its website and corporate presentation the Company failed to clearly identify and disclose the relationship of the qualified person who approved and prepared the technical information.
While the Company dedicated significant internal resources to verify the information contained above, the disclosure to the public through certain information on the Company's website, in the corporate presentation and 2 page investor relations summary was not in complete compliance with NI 43-101. The Company wishes to clarify that all non-compliant information has been either removed or rectified. Additionally, given the extremely high grades at the Rompas project in Finland, going forward the Company will publish a complete breakdown for all individual grab samples reported.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a resource acquisition and development company with metal and energy interests.
Mawson has distinguished itself as a leading Scandinavian gold and uranium exploration company with a focus on the flagship Rompas project in Finland. As the European Union moves to reduce its reliance on carbon-based energy sources and continues to debate energy security, Mawson is well positioned to provide Europe with the option to fuel its future. In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru with a focus on a new gold-copper discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European and South American portfolio, Mawson is ideally positioned to enhance its status as a leader in the uranium and gold industries.
Shares Outstanding: 51,645,753. Cash: approximately C$11.5 million.
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On behalf of the Board, "Michael Hudson" |
Investor Information |
Forward Looking Statement. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement. The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.