Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces that Mawson has entered into a subscription agreement with a fund managed by The Sentient Group ("Sentient"), an independent private equity firm that manages over US$1.4 billion of investments in the global resources industry, whereby Sentient will be purchasing, on a private placement basis, 5 million units at a price of $0.79 per unit (the "Private Placement"). Each unit consists of one common share and one half common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles Sentient to purchase one additional common share for a period of two years from closing of the Private Placement at a price of $1.20 per share.

Mr Hudson states, "Sentient has a strong reputation for investing in quality metal, mineral and energy assets across the globe and its long term support of these investments through its 10 year closed-end private equity fund structure. The addition of such a prominent investor to Mawson's share register represents an enormous vote of confidence in both our gold and uranium portfolio and the Company's committed and talented team."

Upon closing of the Private Placement, Sentient will become an insider of Mawson. Pursuant to the terms of the Private Placement, Sentient will have the right to participate in all future equity offerings of Mawson on the same terms and conditions as may be offered to other participants of such future equity financings to maintain its pro rata ownership.

Concurrently with the Private Placement, Mawson plans to undertake a further 2 million unit financing (the "Additional Financing") at $0.79 per unit under the same unit and warrant terms as those under the Private Placement.

The Company and Sentient have been in discussions since July 2010 regarding a potential investment in the Company. The price of the Private Placement was established on September 15, 2010 under a price protection filing with the Toronto Stock Exchange and is based on the volume weighted average trading price for the five preceding trading days. The closing of the Private Placement and the Additional Financing are subject to, among other things, final acceptance from the Toronto Stock Exchange. Closing of the Private Placement and the Additional Financing is expected to occur on or about October 25, 2010. The proceeds from both financings which are expected to total C$5.5 million will be used to fund exploration programs of Mawson's projects in Finland, Sweden and Peru and for general working capital.

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Mawson Resources Ltd is a resource acquisition and development company with metal and energy interests in Finland, Peru and Sweden. The Company is exploring at Rompas in Finland, a new discovery with bonanza gold where samples up to 12,800 g/t (373 oz/ton) gold and 43.6% uranium have been identified. In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new high grade gold discovery at Alto Quemado.

Mawson has distinguished itself as the leading Scandinavian uranium exploration company, with advanced projects in Sweden and Finland. As the European Union moves to reduce its reliance on carbon-based energy sources and continues to debate energy security, Mawson is well positioned to provide Europe with the option to fuel its future. Areva NC holds 11% of the Company and provides Mawson with an active technical partner.

With a strong cash position and a multi-jurisdiction European and South American portfolio, Mawson is ideally positioned to enhance its status as a leader in the uranium and gold industries.
Shares Outstanding: 42,697,253. Cash: approximately C$8.5 million.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, President & CEO

Investor Information

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

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.