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Mawson Resources Ltd.

Mawson Drills 0.1% U(3)O(8) Over 56 Metres at Klappibacken

Vancouver, Canada (ots/PRNewswire)

  • TSXv - MAW
  • Frankfurt - MRY
Mawson Resources Limited ("Mawson") (TSXv: MAW; Frankfurt: MRY).
Michael Hudson, President and CEO, announces new results from the
Company's  first diamond drill program completed at the Klappibacken
uranium project in  Sweden. Significant near-surface and high-grade
uranium mineralization was  intersected. The results indicate the
strength of the uranium mineralized  system and the potential for a
major uranium deposit at Klappibacken.
Two drill holes for a total of 169 metres were completed before
the spring thaw conditions prevented further drilling. The drill
program will continue when summer conditions provide suitable access.
The Company expects to resume drilling in July and will have two
diamond drill rigs on site to complete a 4,000 metre program. Best
results, calculated with a lower cut-off of 200ppm U(3)O(8),
included:
    KLADD0703: 56 metres at 0.10% U(3)O(8) from 20 metres;
               including 5 metres for 0.24% U(3)O(8) from 25 metres, and
               including 24.7 metres for 0.12% U(3)O(8) from 46.3 metres;
    KLADD0702: 23.1 metres at 0.12% U(3)O(8) from 18.6 metres; and
               8.6 metres at 0.10% U(3)O(8) from 51.5 metres;
Klappibacken is an intrusive-related uranium deposit, hosted by a
brecciated or cataclastic granite which is strongly enriched in
fluorite. Uranium mineralization is present within a single lense,
generally greater than 30 metres in width and locally up to 50 metres
wide. Historical drilling at Klappibacken has shown that
mineralization extends to greater than 150 metres below the surface,
at least 120 metres along strike, and remains open both at depth and
along strike. Both current drill holes were drilled on Section 10 and
intersected the mineralized body approximately 35 metres  apart.
Drilling was at a high angle to the mineralized body and true widths
are between 90-100% of the drill indicated widths. The results
demonstrate  the continuity of mineralization in three dimensions and
confirm historic  drill data.
A radon cap survey was completed by Mawson at Klappibacken in
2006, to measure the abundance of radon gas in the one metre thick
soil that masks bedrock in the prospect area. Radon gas is emitted as
a daughter product during the natural decay of uranium. This program
identified numerous nearby exploration targets up to two kilometers
along strike from Klappibacken.  These targets include areas with a
stronger radon gas signature than those associated with the known
mineralization. The radon cap targets shall be  drill tested early in
the upcoming summer drilling program.
Mr Hudson states, "These drill results demonstrate the quality of
Klappibacken and the Company looks forward to commencing a major
summer drilling program at the project. Mineralization commences from
surface and remains open at depth. Surface indications from radon cap
surveys and scintillometer traverses define the footprint of high
radioactivity to over two kilometres strike, of which only 120 metres
has been tested by drilling. We look forward to continuing the drill
program at Klappibacken in July '07 and the subsequent flow of drill
results over the next 4 months." Further information regarding these
and previous results from the Kläppibäcken  uranium project may be
found at:
http://www.mawsonresources.com/index.php?page(equal
sign)ProjectsKlap.
Update on Sweden's Nuclear Policy
Sweden's energy is provided by 47% nuclear power, 44%
hydroelectric and 9% biofuels. The country is a world leader in
nuclear efficiency research and disposal of nuclear waste which
occurs in-country. Sweden ranks among the top countries in the world
for reliance on nuclear power, as well as for power plant efficiency.
The current government recently overturned a 27 year anti-nuclear
power policy, and has approved the expansion of some nuclear plants.
In Sweden, the same legislation is applied to all minerals
(including uranium) during the exploration phase. To gain approval
for uranium mining, a company must apply to the national government
for a ruling. There is no ban  on uranium mining in Sweden today and
the current government has stated it  will review all uranium mining
projects in light of the relevant legislation  and environmental
standards. The municipal government, where the specific  project is
located, retains a right of veto for uranium mining projects.
Sweden's nuclear power plants require 1,500 tonnes of uranium fuel
each year,  all of which is imported.
Uranium was analyzed by the ME-XRF05 technique by ALS Chemex Ltd's
laboratory in Vancouver, Canada, where duplicates, repeats, blanks
and known standards were inserted according to standard industry
practice. The  qualified person for the Klappibacken uranium 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.
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. Investor Information
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 Börse  have reviewed the
information contained herein and, therefore, do not accept
responsibility for the adequacy or accuracy of this news release.
www.mawsonresources.com

Contact:

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

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