First Drill Hole At Sunday Creek In Australia

VANCOUVER - Mawson Gold Limited reported assay results from the Company's first drill hole from the 100%-owned Sunday Creek project. Drilling is part of an ongoing 5 kilometer program in the Victorian Goldfields of Australia. The project is an epizonal-style gold prospect located 56 kilometers north of Melbourne and contained with 19,365 hectares of both granted and applied for exploration tenements.

Highlights: Diamond drillhole MDDSC001 intersected 15.2 meters @ 3.7 g/t gold from surface including 0.6 meters at 17.9 g/t gold from 10.4 meters while testing unmined extensions of the historic Apollo mine area; This is the first diamond drilling of this mineralized horizon confirming the tenor of gold mineralization found within earlier reverse-circulation drill results, using orientated HQ-sized core; Historic gold mining between 1880-1920 at Sunday Creek occurred over a greater than 11-kilometer trend. Drilling during 1990-2000s focussed on shallow, previously mined surface workings, covering an area of 100 meters in width, 800 meters length but, only to 80 meters depth. As such, the entire field remains open along strike and to depth; and Three initial drill holes (MDDSC001-003) have been completed at the Sunday Creek gold project in the Victorian Goldfields for 345 meters of drilling. Given the intensity, style and grade of mineralization observed in this drilling, a second drill-rig will return to Sunday Creek this week to continue to define the gold mineralized system to build volume and scale.

Michael Hudson, Chairman and CEO, said, "A strong start to our initial drilling in Australia with good gold grades intersected from surface at our 100%-owned epizonal gold project at Sunday Creek. This result confirms the tenor of gold-mineralization found in poorly located reverse circulation drilling from the 1990s and tested what appears to be an unmined area immediately from the surface. Our drilling has opened up this goldfield once again, and given our developing understanding of the intensity, style, scale and grade of mineralization, we have re-mobilized a second rig back to Sunday Creek to continue to grow the project. Meanwhile one rig also continues to drill 7 days a week at the Redcastle project."

Three initial drill holes (MDDSC001-003) totaling 345 meters have now been completed at the Sunday Creek gold project in the Victorian Goldfields. The target was high-grade veining with associated mineralized halos, typical of epizonal-style gold mineralization. Given the intensity, style and grade of mineralization observed in this drilling, a drill has been remobilized back to Sunday Creek to continue to define the gold mineralized system to build volume and scale. A geophysical crew will mobilize soon to the Sunday Creek area to test the system along its strike and to depth by undertaking gradient IP, 3D IP, gravity and ground magnetics.

Mineralization at Sunday Creek is hosted in late-Silurian to early-Devonian-aged shales and siltstones containing a series of volcanic dykes of felsic-intermediate composition. Gold is concentrated in late-aged brittle structures and dominated by two styles: a fracture hosted quartz-stibnite±arsenopyrite extensional-type vein-set, and a broader zone of brittle-fault/shear hosted sulphidic mineralization with more chaotic veining and brecciation. The fracture-hosted quartz-stibnite style of veining seems to have been the focus of historical mining at Sunday Creek, while the broader fault-hosted systems appears untouched. A series of felsic dykes are known over 2.5 kilometers strike and up to 100 metres width and appear to act as a favorable host-lithology for the higher-grade gold mineralization.