Mawson Resources Limited

Mawson Releases Phase 2 Drill Results From Vargbacken, Sweden and Initiates Mining Study

    Vancouver, Canada (ots/PRNewswire) - Mawson Resources Limited ("Mawson") TSXv - MAW. Mr Michael Hudson,  President, is pleased to announce results from a Phase 2 drilling program  at the Vargbacken project, Sweden. A total of 9 reverse circulation ("RC")  holes for 1024m were drilled. The results are presented in the attached  tables 1 and 2.

@@start.t1@@      Best RC drill results when applying a 0.5 g/t gold cut-off grade include:
      -    RC57: 3m at 7.1 g/t gold from 22m including 1m at 16.5 g/t gold from
            23m;
      -    RC56: 3m at 3.9 g/t gold from 77m including 1m at 10.3 g/t gold from
            78m;
      -    RC53: 11m at 3.9 g/t gold from 163m including 1m at 25.7 g/t gold
            from 163m;
      -    RC51: 2m at 5.0 g/t gold from 52m.@@end@@

    Gold at Vargbacken is visible, free and coarse grained, and occurs in  multiple high grade "bonanza" structures within a 30-40m wide gold  mineralized halo. The potential of this mineralized halo is demonstrated by  applying a lower cut-off grade of 0.2 g/t gold where RC53 intersected 46m  at 1.7 g/t gold from 141m, RC56 intersected 36m at 1.2 g/t gold from 66m  and RC51 intersected 37m at 1.1 g/t gold from 47m. It is not yet possible  to make a conclusive statement defining true widths in the reported down- hole intercepts.

    Higher grade gold mineralization has now been drill-delineated over  250m strike and from surface to the extent of RC drilling at 160m depth,  and the project therefore will be evaluated in the future for open pit  mining. Scout drilling and rock chip sampling has identified gold  mineralization over a 1 kilometre trend to the north and south of  Vargbacken. A drill hole plan and hole coordinates can be found at http://www.mawsonresources.com/index.php?page(equal sign)ProjectsVBN.

    Combined with the encouraging results from the 2004 RC drill program,  which included: 3m at 10.4 g/t gold, 10m at 8.6 g/t gold and 14m at 19.8 g/ t gold in RC34, and 3m at 10.0 g/t gold and 16m at 3.3 g/t gold in RC43 ( see Mawson news releases Nov-29-2004 and Dec-14-2004), the Company now has  sufficient information on the size, orientation, grade and continuity of  mineralization to commence a first pass, in-house mining study of  Vargbacken. This study will identify the key commercial sensitivities that  will determine further development of the project.

    Mr Hudson comments: "Over the last 9 months, Mawson has significantly  advanced the Vargbacken gold project. We have completed 27 RC drill holes  and now have sufficient information to commence an in-house mining study.  We have discovered bonanza grades within a 30-40m wide lower grade halo,  and are encouraged by the continuity of gold mineralization, which now  extends from surface to the extent of our drilling at 160m vertical depth  along a 250m strike. It is now time to study the economics of the project  to determine the most expedient way of adding further value."

    Mawson also reports that drilling at the Middagsberget gold project,  located 4 kilometres from Vargbacken, is progressing well. Four RC holes  for 294m have now been completed from an 8 hole program. The drill rig will  return to Vargbacken to complete a final drill hole once drilling at  Middagsberget is complete.

    The qualified person for the Vargbacken and Middagsberget projects is  Mark Saxon, a director and VP-Exploration for Mawson and a member of the  Australasian Institute of Mining and Metallurgy. Mr. Saxon has reviewed and  verified the contents of this news release.

    On behalf of the Board,

    "Michael Hudson"

    -------------------------------

    Michael Hudson, President & CEO

    Forward Looking Statement. This news release contains certain "forward-  looking" statements and information relating to the Company that are based  on the beliefs of the Company's management as well as assumptions made by  and information currently available to the Company's management. Such  statements reflect the current risks, uncertainties and assumptions related  to certain factors including, without limitations, competitive factors,  general economic conditions, customer relations, relationships with vendors  and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in  industry practices, and one-time events. Should any one or more of these  risks or uncertainties materialize, or should any underlying assumptions  prove incorrect, actual results may vary materially from those described  herein. Neither the TSX Venture Exchange nor the Frankfurt Deutsche Borse  have reviewed the information contained herein and, therefore, do not  accept responsibility for the adequacy or accuracy of this news release.

@@start.t2@@      Table 1 - Vargbacken Reverse Circulation Drill Hole Results June 2005,
      0.5 g/t Au Cut Off
      -------------------------------------------------------------------------
      Location        Drill Hole          From              To            Width(1)      Gold(2)
                                                        (m)              (m)              (m)            (g/t)
      -------------------------------------------------------------------------
      Section 95N        RC58                  27                30                 3              1.3
      -------------------------------------------------------------------------
                                RC58                  41                42                 1              2.7
      -------------------------------------------------------------------------
                                RC58                  49                52                 3              2.0
      -------------------------------------------------------------------------
                                RC58                  74                77                 3              1.7
      -------------------------------------------------------------------------
      Section 95N        RC57                  11                12                 1              1.0
      -------------------------------------------------------------------------
                                RC57                  22                25                 3              7.1
      -------------------------------------------------------------------------
                          including                23                24                 1            16.5
      -------------------------------------------------------------------------
      Section 25N        RC56                  36                39                 3              1.3
      -------------------------------------------------------------------------
                                RC56                  51                52                 1              3.0
      -------------------------------------------------------------------------
                                RC56                  66                67                 1              1.2
      -------------------------------------------------------------------------
                                RC56                  71                75                 4              1.1
      -------------------------------------------------------------------------
                                RC56                  77                80                 3              3.9
      -------------------------------------------------------------------------
                          including                78                79                 1            10.3
      -------------------------------------------------------------------------
                                RC56                  81                82                 1              1.9
      -------------------------------------------------------------------------
                                RC56                  89                90                 1              4.8
      -------------------------------------------------------------------------
                                RC56                  98                99                 1            10.5
      -------------------------------------------------------------------------
      Section 25N        RC55                  18                22                 4              1.0
      -------------------------------------------------------------------------
                                RC55                  31                32                 1              5.9
      -------------------------------------------------------------------------
                                RC55                  37                40                 3              0.9
      -------------------------------------------------------------------------
                                RC55                  43                50                 7              1.3
      -------------------------------------------------------------------------
      Section 30S        RC54                  73                74                 1              1.5
      -------------------------------------------------------------------------
      Section 60S        RC53                  21                24                 3              1.8
      -------------------------------------------------------------------------
                                RC53                  34                37                 3              2.3
      -------------------------------------------------------------------------
                                RC53                 141              147                 6              2.3
      -------------------------------------------------------------------------
                                RC53                 154              156                 2              2.8
      -------------------------------------------------------------------------
                                RC53                 163              174                11              3.9
      -------------------------------------------------------------------------
                          including              163              164                 1            25.7
      -------------------------------------------------------------------------
                                RC53                 182              187                 5              1.5
      -------------------------------------------------------------------------
                          including              186              187                 1              5.4
      -------------------------------------------------------------------------
      Section 00N        RC52                  83                84                 1              1.5
      -------------------------------------------------------------------------
                                RC52                 106              109                 3              2.1
      -------------------------------------------------------------------------
                                RC52                 114              116                 2              2.5
      -------------------------------------------------------------------------
                                RC52                 120              121                 1              1.1
      -------------------------------------------------------------------------
                                RC52                 125              128                 3              1.2
      -------------------------------------------------------------------------
                                RC52                 140              141                 1              1.1
      -------------------------------------------------------------------------
      Section 00N        RC51                  47                50                 3              0.9
      -------------------------------------------------------------------------
                                RC51                  52                54                 2              5.0
      -------------------------------------------------------------------------
                                RC51                  59                62                 3              1.6
      -------------------------------------------------------------------------
                                RC51                  64                65                 1              3.4
      -------------------------------------------------------------------------
                                RC51                  67                69                 2              2.4
      -------------------------------------------------------------------------
                                RC51                  74                75                 1              3.2
      -------------------------------------------------------------------------
                              RC51(3)                80                84                 4              1.9
      -------------------------------------------------------------------------
      Section 00N      RC50(4)                42                43                 1              1.1
      -------------------------------------------------------------------------
                              RC50(4)                61                64                 3              0.9
      -------------------------------------------------------------------------
      Note 1: Calculated using a 1m minimum thickness and a 0.5 g/t gold lower
                  cut. No upper cut applied.
      Note 2: Gold analyzed by 1kg bottle roll technique with leachwell
                  accelerant and an atomic absorption spectroscopy finish by ALS
                  Chemex Ltd's laboratory in Pitea, Sweden. Duplicates, repeats,
                  blanks and known gold standards were inserted according to
                  standard industry practice.
      Note 3: Drillhole terminated in mineralization.
      Note 4: Drillhole abandoned due to water inflows before target zone was
                  intersected.
      Table 2 - Vargbacken Reverse Circulation Drill Hole Results June 2005,
      0.2 g/t Au Cut Off
      -------------------------------------------------------------------------
      Location        Drill Hole          From              To            Width(1)      Gold(2)
                                                        (m)              (m)              (m)            (g/t)
      -------------------------------------------------------------------------
      Section 00N        RC51                  47                84                37              1.1
      -------------------------------------------------------------------------
      Section 00N        RC52                 106              141                35              0.6
      -------------------------------------------------------------------------
      Section 60S        RC53                 141              172                46              1.7
      -------------------------------------------------------------------------
      Section 25N        RC55                    7                56                49              0.6
      -------------------------------------------------------------------------
      Section 25N        RC56                  66              102                36              1.2
      -------------------------------------------------------------------------
      Note 1: Calculated using a 1m minimum thickness and a 0.2 g/t gold lower
                  cut. No upper cut applied.
      Note 2: Gold analyzed by 1kg bottle roll technique with leachwell
                  accelerant and an atomic absorption spectroscopy finish by ALS
                  Chemex Ltd's laboratory in Pitea, Sweden.@@end@@

ots Originaltext: Mawson Resources Limited
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
For further information: Investor Information:
www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC,
V6E 3V7; Company Contact: Mariana Bermudez, +1-(604)-685-9316;
Investor Relation Consultants - Mining Interactive, Nick Nicolaas,
+1-(604)-657-4058; Wayne Melvin, +1-(604)-619-6327, Email:
info@mawsonresources.com



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