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Mawson Resources (TSX: MAW) CEO Discusses Multiple High-Grade Gold Drill Results

February 22, 2017

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is CEO of Mawson Resources, Mr. Michael Hudson. Michael, thank you so much for joining me this afternoon.

Michael Hudson: Good afternoon, Gerardo. How are you?

Gerardo Del Real: I'm excellent. I'm a happy shareholder right now, because I know we had you on a few weeks back and we had talked about the district scale land package and the high grade nature of it and how prospective it was. You had some news this morning. Let me just get right to it and read the headline. The headline reads: Mawson drills 10 meters at a 11.6 grams per tonne gold. Can you share the details of the release, Mike?

Michael Hudson: Simply put, it's a great start, Gerardo. We started drilling in the first week of January and the results are just starting to flow now. We've got the two rigs working 24/7. We're looking to increase that to four rigs based on some of the initial results we're seeing over the coming weeks, until the drilling takes us through to the end of April. These results, there was more than that headline result. There was another result, 6.8 meters at 14.7 grams. We released four holes, and two of them came back exceptionally high grade, having good widths, showing continuity of the Palokas system.

A good measure in how we measure things in this business at times is to multiply the meters by the grams per tonne.

Both these intersections, two out of the four, exceeded 100 gram metres per tonne. I know a major, one of the gold majors says that if you get four of those in any one body, it's a bonafide discovery. We've managed to do that with two out of the first four holes. Of course, we've found other high grades like this in the system, so this confirms what we know, but importantly it extended out. That 10 meters at 11.6 grams was the deepest intersection on the property. That was down only at 110 meters so far. We basically doubled the depth of the high-grade system or the high-grade shoot. Extending the known system, a great start. With rigs still turning, we look forward to continuous news flow over the next three months.

Gerardo Del Real: Excellent. Can we talk a bit about that second intercept? You mentioned it was 6.8 meters of 14.7 grams per tonne gold, and as impressive to me is that it was from 34.4 meters. Can you talk a bit about that intercept?

Michael Hudson: Sure. That one was the first, large diameter core into Palokas. If our stakeholders and shareholders remember, we've been drilling pencil type core up until we were fully permitted last September. This program is the first large diameter or normal diameter core to go into the property. We wanted to test between two known holes there. We got as good or exceeded what we had before, so that was really a great confirmation of what we'd seen before.

We've seen those grades right at the surface, actually. I suppose, importantly, now we're starting to gain with this larger diameter core, we get basically eight times more geological information, if you think going from a very pencil like to a fist size drill core. We're starting to be predictive about how to hit these high grades in these high-grade shoots, which are gold deposits often form within.

Gerardo Del Real: Excellent. I know there was some limited earlier stage drilling that also led to some early stage metallurgical testing on the Palokas drill core in the past. In 2014, if I'm not mistaken. If I remember correctly, the recoveries then were between 95% and 99%. Is the gold you're finding now in a similar type of rock type?

Michael Hudson: It's exactly the same type of rock. Excellent gravity 40% recovery and then the rest through cyanidation. No red flags here so far. A nice, easily treatable ore mineralization style.

Gerardo Del Real: Wonderful. Mike, it's a heck of a start to the drill program. I hope to have you back on soon as we get further assays. Is there anything that you'd like to add?

Michael Hudson: I should say that we're drilling up to 1.8 kilometers south now from where we've released these results. This is a big area and we look forward to seeing the news flow and I'll come back and tell you about it.

Gerardo Del Real: I'm looking forward to having you on. Thank you so much, Mike.

Michael Hudson: Thanks, Gerardo.

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