Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces the company has commenced proceedings to withdraw from its mineral exploration licences in Spain, and at the same time expand its uranium exploration efforts throughout Scandinavia.
After a recent Board review of the Company's uranium assets it was determined Scandinavia holds the greatest potential for further significant discoveries. In Spain, the Company no longer believes it is possible to consolidate its holdings with the State Reserve in the Don Benito area in a timely manner and is therefore surrendering its exploration leases. Mawson will increase its exposure in Finland and Sweden by expanding the Company's dedicated project generation efforts, by drilling around known uranium resources and through potential further acquisitions.
In line with the Scandinavia emphasis, Mr Michael Hudson presented at the biannual Fennoscandian Mining Conference (FEM09) last week on the current status and future potential for uranium in Scandinavia in a presentation titled "Uranium in Scandinavia. Lot's of Smoke, But Where is the Fire". This presentation is available for download from the Company's website at http://www.mawsonresources.com/assets/docs/news/FEM-2009-MICHAEL-HUDSON-MAWSON-RESOURCES.pdf.
Mr Hudson states: "With over $10 million dollars in cash Mawson is well placed to reinvigorate its efforts in Sweden and Finland where the Company holds tenure over 3 uranium resource projects and many high quality exploration assets. Sweden is currently one of the world's largest uranium consumers on a per capita basis and has recently made announcements to expand its nuclear program after many years holding a phase-out policy. Finland is currently expanding its nuclear program by building the country's fifth and the world's largest nuclear power reactor. At present 48% and 26% of the total electricity supply in Sweden and Finland respectively comes from nuclear energy. Finland and Sweden import all of the uranium required for their nuclear reactors. Mawson looks forward to continuing to provide Scandinavia with an option for its energy future."
On behalf of the Board, "Michael Hudson" | Investor Information |
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.