Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MRY. Mr Michael Hudson, President & CEO, announces that a decision has been made by TUKES (the Finnish Safety and Chemical Agency) to grant 110 exploration claims that cover a surface area of 10,580 hectares at Mawson's Rompas gold project in northern Finland for a period of 3 years. An application to extend this period can be made within 3 years. The decision will take legal effect after a standard public appeal process. Further information as to the outcome of this process will be known in early December.
The decision outlines:
- Granting of the mineral rights over the entire claim area to Mawson once the decision takes legal effect; and
- Limitations on exploration methods that can be completed in the Natura 2000 areas within the exploration claims, including no drilling or trenching due to the presence of specific flora. The Natura 2000 area over the known 6 km mineralized zone is small and covers 254 hectares but overlies approximately 70% of the trend. There are also other Natura 2000 areas in the claim area. Mawson is entitled to apply for a modification of this decision by conducting an environmental program (a Natura 2000 assessment) to address these observations in order to obtain permission to conduct drilling and trenching in these areas.
Mr Hudson states, "This is the key step in the granting of exploration claims at Rompas. We await the finalization of the remaining legal process, and once complete this will allow the Company to commence a large drill program on the project".
Shares Outstanding: 51,670,753; Cash: approximately C$11 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.
The qualified person for Mawson's Finnish projects, Mr Terry Lees, VP Exploration for Mawson and Fellow of the Australian Institute of Geoscientists has reviewed and verified the contents of this release.