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Mawson Resources Ltd.

Mawson Drills 16 Metres of 209 ppm U3O8 at Tasjo, Sweden

Vancouver, British Columbia (ots/PRNewswire)

Mawson
Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Michael
Hudson, President & CEO, announces the first  results from the
Company's 40 hole, 1,724 metre winter diamond drill program  at the
Tasjo uranium - rare earth element (REE) - phosphate project in
Sweden. Results are available for the first 8 holes (BODDD08001 to
BODDD08004, BODDD08007, BODDD08013 and ONBDD08001 to ONBDD08002).
Uranium mineralization was targeted from the surface to
approximately 40 metres vertical depth. The drill holes reported in
this release tested the Bodkullarna ("BOD") and Onbacken ("ON")
prospects which are separated by a strike length of 16 kilometres.
These areas are located approximately 8.5 kilometres and 7.5
kilometres to the south west and north east respectively of the
Kronotorpet project which was drill tested by the Company in mid
2007. Geophysical mapping has demonstrated that all three drilled
prospects lie upon a single strike continuous horizon that extends
between  the prospects. Mineralization was drill tested at
Bodkullarna over a 1300  metre by 160 metre area, while at Onbacken
mineralization was drilled over an  area of 400 metres by 160 metres.
A third area, Bodkullarna East, for which  drill results are awaited,
was tested with 12 drill holes. Twenty-nine of the  forty holes
drilled during the program intersected the uranium horizon. It is
interpreted that reported drill hole intercepts approximate the true
width of mineralization.
    Better results from the initial 8 drill holes are included below with
    a full list of results presented in the attached table 1.
    HOLE_ID                      From           To        Width         U3O8
                              (metres)     (metres)     (metres)        (ppm)
    ONBDD08002                   19.8         35.8           16          209
    ONBDD08001                   19.9         25.5          5.6          247
    BODDD08003                   38.9         42.7          3.8          302
    BODDD08007                   43.2         45.2            2          363
    BODDD08001                   27.6         29.6            2          324
Tasjo is a sedimentary uranium deposit where uranium
mineralization is associated with concretions of
carbonate-fluorapatite, which constitute up to 20% of the rock. Mass
balance calculations indicate that the uranium grade of the apatite
is 0.16%.
Mawson controls a 40-km strike extent of the uranium-mineralized
unit in the Tasjo field. Based on 80 historic drill holes and the
report, "Geological Investigations in the Tasjo area in 1963 and
1964" (G. Armands, Swedish  Atomic Energy Company) it is estimated
that 75 to 150 million tonnes exist at  Tasjo, with a grade range of
0.03% to 0.07% uranium oxide (U3O8), 0.11% to  0.24% REE and 3.75% to
7.5% phosphate (P2O5). Total contained metal within  the field is
estimated between 104 to 116 million pounds of U3O8, 165,000 to
180,000 tonnes of REE and 5.63 million tonnes of P2O5. This
exploration  target estimate is based on the aforementioned report.
The potential quantity  and grade is conceptual in nature, as there
has been insufficient exploration  to define the target at this time
and it is uncertain that further  exploration will result in the
definition of a resource. The magnitude of the  exploration target
was confirmed in a recent independent NI43-101 technical  report by
Andrew Browne of Geosynthesis Pty Ltd, after a review of Swedish
Geological Survey documentation, a field visit and check analysis of
core  samples.
Further information regarding the Tasjo project and the current
drilling program may be found at
http://www.mawsonresources.com/index.php?page(equal
sign)ProjectsTasjo.
Mr. Hudson stated: "Mawson has now drill tested 3 mineralized
prospects over a strike length of 16 kilometres at Tasjo and these
drill results continue to show multiple near-surface uranium horizons
with accessory rare earth and phosphate. The consistency of grade,
the strike extent (which is well defined by geophysics) and the
shallow depth of uranium mineralization are encouraging as are the
thicker zones up to 16 metres which had not previously been
discovered at the project. Drill results from additional  holes will
soon be available."
The qualified person for the Tasjo project, Mark Saxon, Director
and Vice-President of Exploration for Mawson, and a member of the
Australasian Institute of Mining and Metallurgy, has reviewed and
verified the contents of this release. Uranium was analyzed by the
ME-MS81 technique by ALS Chemex Ltd's laboratories in Pitea, Sweden
and Vancouver, Canada, where duplicates, repeats, blanks and known
standards were inserted according to standard industry practice.
About the Company: Mawson Resources holds significant uranium
resources in the nuclear energy reliant countries of Spain, Sweden
and Finland. As the European Union reduces its reliance on
carbon-based energy sources, Mawson is well placed as the Company
develops its exploration portfolio towards the sustainable production
of uranium in the shortest possible time frame.
On behalf of the Board,
    "Michael Hudson"
    Michael Hudson, President & CEO
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.
    Table 1: Drill hole results from the Tasjo project using a lower cut-off
    of 0.01% uranium.
    HOLE_ID                      From           To        Width         U3O8
                              (metres)     (metres)     (metres)        (ppm)
    BODDD08001                   27.6         29.6            2          324
    BODDD08001                     32           38            6          132
    BODDD08002                   15.8           18          2.2          137
    BODDD08003                   38.9         42.7          3.8          302
    BODDD08003                  47.25        49.25            2          132
    BODDD08003                  58.25        61.25            3          136
    BODDD08004                   19.2         22.1          2.9          139
    BODDD08005                  Drill         Hole       Abandoned
    BODDD08007                   27.9         28.9            1          421
    BODDD08007                   43.2         45.2            2          363
    BODDD080010                    No     Significant      Results
    BODDD080013                  11.9         16.6          4.7          136
    BODDD080013                  21.9         22.9            1          232
    BODDD080013                  26.2         32.2            6          118
    ONBDD08001                   19.9         25.5          5.6          247
    ONBDD08002                   19.8         35.8           16          209
     Results are awaited for drill holes BODDD08006/8/9/11/12
For further information:
    Investor Information:
    http://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

Contact:

For further information: Investor Information:
http://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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  • 26.11.2007 – 22:50

    Drilling Commences at the Klappibacken Uranium Project in Sweden

    Vancouver, Canada, November 26 (ots/PRNewswire) - Mawson Resources Limited ("Mawson") TSXv - MAW; Frankfurt - MRY. Michael Hudson, President & CEO, announces that drilling has commenced at the Klappibacken uranium project in northwestern Sweden where a 4,000-metre diamond drill program has been planned for this winter. Significant near-surface and high-grade ...

  • 09.10.2007 – 22:45

    Mawson Granted Permission to Drill at Klappibacken

    Vancouver, Canada (ots/PRNewswire) - Mawson Resources Limited ("Mawson") TSXv - MAW; Frankfurt - MRY. Michael Hudson, President & CEO, reports that on Friday, October 5, the Company received final permission from Swedish Authorities to allow further drilling at the Klappibacken uranium project. Two diamond drill rigs will mobilize to site within the next two to three weeks, to complete an initial 4,000 metre drill ...