Mawson Resources' exciting Rompas Gold, Uranium discovery emerges on the market

Mawson Resources' exciting Rompas Gold, Uranium discovery emerges on the market

mawsonresources.com 604.685.9316

Michael Hudson

President & CEO

Six months ago, Mawson Resources (TSX: MAW) acquired the Rompas Property a gold/uranium property located in Finland. Last fall the company published the first bonanza grades from channel sampling such as 0.95m at 1,424 g/t gold and 1.3% uranium. The results, combined with attention from large investors, caused their share price to soar. Mawson's President and CEO Michael Hudson tells Resource Intelligence about the exciting discovery.

Resource Intelligence: Mawson Resources Ltd is a resource acquisition and development company with primarily uranium and gold and other metal properties. Could you say a little about how this company is structured?

Michael Hudson: Sure, there are three key points to the Mawson story. The first is that we have a potential world class gold and uranium project called Rompas in Finland, which is a new discovery at a very early stage. At this stage of explorationwe believe thatRompas has to be considered one of the most exciting global gold discoveries (with a uranium credit) to emerge into the market place in terms of its high grades and hundreds of surface showings over a large area. Secondly, we've been a uranium explorer in Europe for the last five years and we have a number of resource projects and exploration projects through Sweden and Finland. Thirdly, we have a copper/gold property in Peru, which provides investors with a multi-commodity exposure.

RI: Mawson has a lot of exciting recent news from the Rompas project. Could you please talk a little about that project? What's planned for 2011?

MH: Rompas, which is only six months old, is taking about two thirds of our focus at the moment. The average width and length weighted average of 80 channel samples from the 2010 program is 0.59 m @ 203.7 g/t Au and 0.73 % U within a sampling footprint of 6 km strike and 200-250 m width. There have been about 300 surface discoveries made to date, in an area where there's very poor outcrop of rock coming to surface, maybe 5-10% outcrop at the maximum. We're making lots of discoveries in a very significant area with extraordinary grades. The challenge will be to define a coherent resource block. The project is certainly unique in the world space in terms of its grade and scale. It is very exciting. We have an intensive summer program starting in late May 2011.

RI: When will you begin drilling at Rompas?

MH: We'll start deep drilling as soon as we have permits. Being a new discovery the Rompas project is secured by claim applications. Deep drilling and trenching will be permitted on the granting of exploration claims. The granting of claims in Finland is currently slow and Mawson is working with the Finnish authorities to facilitate this process in the shortest possible time.

RI: Did you have any expectations that the grades would be so high when you acquired the property?

MH: We were initially surprised when we first completed our due diligence on the property to see gold literally sticking out of the ground over such a large area. We bought the property from Areva who had only completed one month work on the property and taken 20 samples. As geologists we knew we were onto something different. When we came out with representative channel samples people started to catch on and the share price began to take off. We also had a few key shareholders come in at that time, and a large resource fund, a very credible fund called the Sentient Group purchased 10% of the company. Pinetree Capital, another Toronto-based fund, doubled their investment. We've got some very good shareholder support with 40% of the stock tied up in very close hands, including 10% by insiders.

RI: Mawson is focused mainly in Finland and Sweden. Can you comment on the conditions for uranium exploration in Scandinavia?

MH: Europeans are the largest per capita users of uranium in the world. There is a large commitment to nuclear power. Just this February Cameco partnered with a company in Finland with a plan to produce the first uranium there in 50 years, so there's a generational change. Together with Areva's significant share holding in Mawson, the two key uranium majors are now well represented in the district. Politically, there's been a lot of positive attitude toward uranium exploration and mining. There's no legislative impediment to producing uranium. As always with uranium, you'll generate opposition but certainly the macro politics have changed favourably over the last 5 years.

RI: It looks like Mawson is well financed with $13 million in cash. Will this be enough to offset expenditures for your upcoming plans?

MH: This financial year we will spend $3.5 million of that $13 million. Should permitting at Rompas occur during the year then we have a large discretionary budget to complete a very serious first stage drill program. Cash is king in this business and we're certainly well funded for the projects we have.

RI: What else should investors know about Mawson?

MH: Technically, we're a very strong group of people. We're geologists. Mawson is a company that was founded by technical people but we've also had significant experience in the Canadian capital markets, beside our strong technical backgrounds.

Investor Highlights:

Rompas project in Finland returns bonanza grades of gold and uranium from surface channel sampling. More than 300 surface discoveries over 6km x 200m trend

Leading uranium explorer in Scandinavia with 15Mlbs U3O8 NI43-101 resources in 3 projects plus extensive uranium exploration portfolio

Copper porphyry and high grade gold exposure in Peru

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