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2021 News Releases

August 03, 2021

Mawson Drills 30.8 Metres At 3.9 G/T Gold And 1,403 Ppm Cobalt In 120 Metre Step Out In Deepest Drillhole At South Palokas, Finland

Vancouver, Canada — Mawson Gold Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) is pleased to announce drill results from 7 drill holes totaling 2,692 metres from the South Palokas prospect area (Figure 1) as part of the Company’s 76 hole, 19,422 metre 2020/21 drill program at the Company’s 100%-owned Rajapalot gold-cobalt project in Finland (Figure 1).

Highlights:

  • PAL0303 drilled 30.8 metres @ 3.9 g/t Au, 1,403 ppm Co, 5.1 g/t AuEq from 553.2 metres; including,
      • 1.0 metre @ 8.9 g/t Au, 2,164 ppm Co, 10.7 g/t AuEq from 563.9 metres;
      • 7.0 metres @ 8.2 g/t Au, 2,020 ppm Co, 9.9 g/t AuEq from 566.9 metres;
      • 1.0 metre @ 8.9 g/t Au, 1,036 ppm Co, 9.8 g/t AuEq from 575.0 metres;
      • 4.0 metres @ 6.9 g/t Au, 1,460 ppm Co, 8.1 g/t AuEq from 578.0 metres;
    • PAL0303 is the deepest drillhole at South Palokas. The closest high-grade drill hole, PAL0235 intersected 15.3 metres @ 3.0 g/t Au, 998 ppm Co, 3.9 g/t AuEq from 439.5 metres (reported 29 June, 2021) was drilled 120 metres up plunge. In combination, PAL0303 and PAL0235, both drilled this season, extend high-grade mineralization at South Palokas down plunge by 290 metres;
    • Further drilling is required at South Palokas with mineralization remaining open down plunge;
  • PAL0308, drilled 30 metres to the west of PAL0235, intersected 8.5 metres @ 3.1 g/t Au, 866 ppm Co, 3.9 g/t AuEq from 492.6 metres:
    • A further 22.3 metres @ 0.6 g/t Au, 751 ppm Co, 1.3 g/t AuEq from 439.5 metres, including
      • 6.0 metres @ 1.4 g/t Au, 1,444 ppm Co, 2.6 g/t AuEq from 439.5 metres.
  • PAL0296 intersected 24.0 metres @ 1.3 /t Au, 538 ppm Co, 1.8 g/t AuEq from 254.0 metres; including:
      • 15.0 metres @ 2.0 g/t Au, 652 ppm Co, 2.5 g/t AuEq from 256.0 metres, and
    • 7 metres @ 1.8 g/t Au, 288 ppm Co, 2.0 g/t AuEQ from 322.5 metres including:
      • 1 metre @ 5.4 g/t Au, 307 ppm Co, 5.7 g/t AuEq from 322.5 metres
    • PAL0296 was drilled 50 metres west from PAL0290 which intersected 20.0 metres @ 1.7 g/t Au, 529 ppm Co, 2.1 g/t AuEq from 240.0 metres, including 11.6 metres @ 2.8 g/t Au, 541ppm Co, 3.2 g/t AuEq from 242.0 metres and was reported 29 June, 2021;
  • Mawson completed 76 diamond drill holes for 19,422 metres for the winter 2020/21 season. A total of 7 holes for 2,692 metres are reported here;
    • A total of 36 drill holes for 8,438 metres from 5 individual prospect areas remain to be reported, with a resource upgrade scheduled for August 2021.
  • AFRY Finland Oy, a European leader in engineering, design, and advisory services has been appointed to act as Qualified Person for the updated resource which is scheduled to be released in August, 2021.

Mr. Hudson, Chairman and CEO, states "This is a great result. South Palokas has delivered very strongly this season, with high-grade mineralization extended by 280 metres down plunge and remains open. PAL0303 (30.8 metres @ 3.9 g/t Au, 1,403 ppm Co, 5.1 g/t AuEq) is the deepest hole drilled at South Palokas and is demonstrative of the significant resource expansion opportunities that remain at Rajapalot. The mineralized body at South Palokas has now been drilled 650 metres down plunge. Drilling this year has demonstrated significant growth to the four current resource areas and has also added two further resource areas. We look forward to releasing remaining drill hole results and announcing the next resource upgrade in August.”

Gold and cobalt assay results are reported here from 7 holes for 2,692 metres from the 2020/21 drill program (Figure 1). In total, since drilling commenced in September 2020, Mawson has drilled 76 drillholes for 19,422 metres. The holes released here are all from the South Palokas prospect (PAL0286, PAL0296, PAL0299, PAL0303, PAL0305, PAL0307 and PAL0308). A full set of reported results is shown in Table 3. Intersections are reported with a lower cut of 0.3 g/t AuEq over a two metre lower cut. No upper cut-off was applied. Higher-grade intersections use a 1.1 g/t AuEq lower cut over two metres. A total of 36 drill holes for 8,438 metres from five individual prospect areas remain to be reported, with a resource upgrade at Rajapalot scheduled during August 2021.

Technical and Environmental Background

Four diamond drill rigs from Kati Oy, Nivalan Timanttikairaus Oy and MK Core Drilling Oy all with water recirculation and drill cuttings collection systems are used in the drill program. Core diameter is NQ2 (50.7 mm). Core recoveries are excellent and average close to 100% in fresh rock. After photographing and logging in Mawson’s Rovaniemi facilities, core intervals averaging 1 metre for mineralized samples and 2 metres for barren samples are cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples are transported by commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (including cobalt) are pulped at CRS Minlab, then transported by air to the MSA labs in Vancouver, Canada and analyzed using four acid digest ICP-MS methods. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical process.

Spot gold and cobalt prices have been used to calculate AuEq values according to the following:

  • Average gold price US$1,599 per oz
  • Average cobalt price US$19.93 per pound
  • Resulting in gold equivalent formula of AuEq g/t = Au g/t + (Co ppm/1,170).

The host rocks to the gold and cobalt mineralization comprise sulphides (pyrrhotite>>pyrite) with biotite-muscovite-chlorite schists and Mg-Fe amphibole-biotite-chlorite rocks. Veining and fracture fill minerals include pyrrhotite, magnetite and magnetite-pyrrhotite (+/- quartz, tourmaline). Retrograde chlorite after biotite, generations of secondary muscovite (“sericite”) and vein-controlled chlorite+/- tourmaline and magnetite are also present. Preliminary hand-held XRF analysis confirms the presence of associated scheelite and molybdenite, the former visible under UV light as tiny veinlets and disseminations. The silicate mineral alteration assemblages associated with the gold are clearly post-metamorphic, reduced, and most likely driven by hydrothermal fluids from nearby granitoid intrusions. Chlorite and fine muscovite are regarded as the lowest temperature silicate minerals with gold, structurally controlled in apparent spatial association with quartz and/or K-feldspar veins. Altered rocks enclosing the mineralized package contain locally abundant talc and tourmaline.

All maps have been created within the KKJ3/Finland Uniform Coordinate System (EPSG:2393).

Tables 1–2 provide collar and assay data. Assuming a predominant stratabound control, the true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Table 3 gives detailed individual assays of all intervals reported in this press release. Intersections are reported with a lower cut of 0.3 g/t AuEq over 2 metre lower cut. No upper cut-off was applied, and higher-grade intersections use a 1.1 g/t AuEq lower cut over 2 metres.

NI 43-101 Technical Report: On September 14, 2020, an updated resource estimation was completed by Rodney Webster of AMC of Melbourne, Australia, and Dr. Kurt Simon Forrester of Arn Perspective of Surrey, England. Each of Mr. Webster and Dr. Forrester are independent “qualified persons” as defined by NI 43-101. The NI 43-101 technical report is entitled “Rajapalot Property Mineral Resource Estimate NI 43-101 Technical Report” and dated September 14, 2020 (the “Updated Technical Report”). The Updated Technical Report may be found on the Company’s website at www.mawsongold.com or under the Company’s profile on SEDAR at www.sedar.com. Readers are encouraged to read the entire Updated Technical Report.

Qualified Person

Dr. Nick Cook (FAusIMM), Chief Geologist for the Company, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in this press release.

About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)

Mawson Gold Limitedis an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.

On behalf of the Board,

"Michael Hudson"

Michael Hudson, Chairman & CEO
Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary,
+1 (604) 685 9316, info@mawsongold.com

Forward-Looking StatementThis news release contains forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements and are based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labor.Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to: capital and other costs varying significantly from estimates; changes in world metal markets; changes in equity markets; ability to achieve goals; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a single asset; planned drill programs and results varying from expectations; unexpected geological conditions; local community relations; dealings with non-governmental organizations; delays in operations due to permit grants; environmental and safety risks; and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Mawson, in light of management’s experience and perception of current conditions and expected developments, Mawson can give no assurance that such expectations will prove to be correct.Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Figure 1: Plan of Rajapalot showing only results from 2021 drill program reported to date. Results in red are those reported for the South Palokas prospect in this press release. Dashed red rectangles show focus of 2021 resource expansion drilling program with historic drilling, resource areas and EM geophysical plates.



Table 1: Collar Information from 2020-21 drilling program at the Rajapalot Project (Finnish Grid, Projection KKJ3)

Hole ID

East

North

Azimuth

Dip

RL

Depth (m)

Prospect

Comment

PAL0235

3408208.1

7373667.8

047

-81.0

172.7

176.9 to 522.0

South Palokas

reported 29 June 2021

PAL0237

3409690

7374570

220

-61

180.4

68.5

Hirvimaa

reported 25 Nov 2020

PAL0238

3409662

7374613

220

-77

180.9

149.7

Hirvimaa

reported 25 Nov 2020

PAL0239

3410303.4

7372642.9

060

-66.0

151.0

41.7

Joki East

Abandoned, reported 25 Nov 2020

PAL0240

3410305.1

7372643.6

060

-66.0

151.2

281.7

Joki East

reported 25 Nov 2020

PAL0241

3410337.8

7372661.1

060

-66.0

151.3

236.4

Joki East

reported 25 Nov 2020

PAL0242

3410364.0

7372674.9

060

-66.0

150.6

236.8

Joki East

reported 25 Nov 2020

PAL0243

3410309.3

7372708.5

060

-67.5

151.4

239.7

Joki East

reported 21 Dec 2020

PAL0244

3410337.3

7372726.2

062

-68.0

151.4

251.7

Joki East

reported 21 Dec 2020

PAL0245

3410275.0

7372690.0

060

-66.0

151.4

257.5

Joki East

reported 21 Dec 2020

PAL0246

3410266.1

7372744.7

060

-71.0

152.3

287.6

Joki East

reported 21 Dec 2020

PAL0247

3410211.8

7372728.5

061

-64.0

151.5

293.4

Joki East

reported 21 Dec 2020

PAL0248

3411714.7

7371404.9

065

-60.0

124.9

323.6

Regional

reported 12 April 2021

PAL0249

3410204.0

7372724.3

064

-72.0

151.6

269.6

Joki East

reported 12 April 2021

PAL0250

3410404.0

7372632.2

060

-66.0

151.2

195.3

Joki East

reported 12 April 2021

PAL0251

3410374.9

7372616.9

060

-66.0

151.0

179.9

Joki East

reported 12 April 2021

PAL0252

3410435.4

7372651.2

060

-66.0

149.5

155.9

Joki East

reported 12 April 2021

PAL0253

3410154.1

7372819.7

061

-78.5

153.8

359.7

Joki East

reported 12 April 2021

PAL0254

3410153.2

7372821.5

061

-70.5

155.0

320.9

Joki East

reported 12 April 2021

PAL0255

3408125.6

7373140.2

090

-85.0

172.5

347.9

Hut

reported 12 April 2021

PAL0256

3408125.6

7373140.2

088

-72.0

172.5

272.6

Hut

reported 12 April 2021

PAL0257

3408126.6

7373140.2

087

-58.0

172.5

230.4

Hut

reported 12 April 2021

PAL0258

3407835.1

7372449.6

039

-85.0

172.3

389.8

Rumajärvi

Results awaited

PAL0259

3408064.0

7372937.0

057

-61.5

173.4

299.9

Hut

reported 12 April 2021

PAL0260

3408089.4

7373033.5

059

-70.0

173.1

320.6

Hut

reported 12 April 2021

PAL0261

3408064.0

7372937.0

057

-74.0

173.4

311.7

Hut

Results awaited

PAL0262

3408463.9

7373910.4

139

-73.0

173.6

358.9

Palokas

Results awaited

PAL0263

3408089.4

7373033.5

059

-84.0

173.1

329.8

Hut

reported 12 April 2021

PAL0264

3407834.0

7372449.7

039

-68.0

172.8

125.5

Rumajärvi

Results awaited

PAL0265

3407956.6

7373143.7

143

-49.0

172.1

301.8

Hut

reported 12 April 2021

PAL0266

3407835.1

7372448.6

210

-78.0

172.3

149.7

Rumajärvi

Results awaited

PAL0267

3407840.8

7372408.1

065

-48.2

172.7

268.9

Rumajärvi

Results awaited

PAL0268

3408186.3

7372767.6

060

-80.0

178.7

131.5

Terry's Hammer

Results awaited

PAL0269

3407956.6

7373143.7

126

-46.0

172.1

268.5

Hut

reported 12 April 2021

PAL0270

3408463.9

7373910.4

124

-59.0

173.6

289.8

Palokas

Results awaited

PAL0271

3408186.3

7372767.6

210

-85.0

178.7

120.0

Terry's Hammer

Results awaited

PAL0272

3407840.8

7372408.1

065

-73.0

172.7

302.6

Rumajärvi

Results awaited

PAL0273

3408215.8

7372746.9

119

-54.0

177.3

82.1

Terry's Hammer

Results awaited

PAL0274

3407956.6

7373143.7

114

-45.0

172.1

280.2

Hut

Results awaited

PAL0275

3408089.4

7373033.5

240

-81.0

173.1

161.8

Hut

Results awaited

PAL0276

3408467.8

7373868.1

128

-50.0

172.0

23.9

Palokas

Results awaited

PAL0277

3408090.7

7373033.0

056

-81.5

173.6

257.3

Hut

Results awaited

PAL0278

3407956.6

7373143.0

150

-50.0

172.1

280.0

Hut

Results awaited

PAL0279

3408467.8

7373868.1

128

-50.0

172.0

287.9

Palokas

Results awaited

PAL0280

3407641.8

7372426.8

061

-38.0

173.0

342.9

Rumajärvi

Results awaited

PAL0281

3408544.8

7373674.7

116

-60.0

173.5

146.3

South Palokas

Results awaited

PAL0282

3407941.4

7373070.5

061

-67.0

172.7

341.9

Hut

Results awaited

PAL0283

3408467.8

7373868.1

141

-52.1

173.5

277.9

Palokas

Results awaited

PAL0284

3408521.2

7373606.0

062

-79.0

173.6

146.6

South Palokas

Results awaited

PAL0285

3407641.8

7372426.9

061

-47.0

173.0

314.2

Rumajärvi

Results awaited

PAL0286

3408521.2

7373606.0

240

-69.0

173.6

149.4

South Palokas

Reported here

PAL0287

3407941.4

7373070.5

061

-76.0

172.7

346.7

Hut

Results awaited

PAL0288

3408521.2

7373606.0

240

-57.0

173.6

172.8

South Palokas

reported 29 June 2021

PAL0289

3408467.8

7373868.1

155

-52.0

172.0

305.2

Palokas

Results awaited

PAL0290

3408410.5

7373660.5

235

-78.0

174.0

335.6

South Palokas

reported 29 June 2021

PAL0291

3407941.4

7373070.5

061

-85.0

172.7

329.3

Hut

Results awaited

PAL0292

3408112.4

7372770.1

060

-61.0

172.4

149.1

Terry's Hammer

Results awaited

PAL0293

3408467.8

7373868.1

061

-68.0

172.0

344.3

Palokas

Results awaited

PAL0294

3407941.4

7373070.5

220

-87.0

172.7

353.7

Hut

Results awaited

PAL0295

3408821.1

7372287.6

058

-80.0

172.7

140.2

Raja

reported 13 July 2021

PAL0296

3408410.5

7373660.5

241

-71.5

174.0

368.7

South Palokas

Reported here

PAL0297

3408821.1

7372287.6

058

-66.0

172.7

169.4

Raja

reported 13 July 2021

PAL0298

3408466.5

7373867.0

128

-65.0

173.9

305.1

Palokas

Results awaited

PAL0299

3408410.5

7373660.5

241

-64.5

174.0

394.7

South Palokas

Reported here

PAL0300

3408821.1

7372287.6

245

-80.0

172.7

142.5

Raja

reported 13 July 2021

PAL0301

3407999.2

7373194.3

115

-57.0

172.1

335.0

Hut

Results awaited

PAL0302

3408912.5

7372341.5

238

-73.0

172.3

163.8

Raja

reported 13 July 2021

PAL0303

3407712.4

7373644.2

044

-75.5

172.7

629.2

South Palokas

Reported here

PAL0304

3407681.1

7373602.7

160

-58.0

173.6

125.2

South Palokas

Results awaited

PAL0305

3407649.8

7373660.5

050

-82.0

174.0

281.5

South Palokas

Reported here

PAL0306

3407843

7372798

60

-45

172.4

280.6

Rumajärvi

Results awaited

PAL0307

3408273

7373630

66

-85

174.66

352.9

South Palokas

Reported here

PAL0308

3408134

7373634

50

-77

173

515.6

South Palokas

Reported here

PAL0309

3407850

7372499

81

-74

172.5

202.5

Rumajärvi

Results awaited

PAL0310

3408610

7373895

167

-76

174.86

209.5

Palokas

Results awaited

PAL0311

3408610

7373895

96

-55

174.86

78.9

Palokas

Abandoned due to snow melt


Table 2: Intersections from the 2020-21 Winter Drill Program. Intersections are reported with a lower cut of 0.3 g/t AuEq (using long term forecast gold and cobalt prices of $1,599 per ounce and $19.93 per pound respectively) over 2 metre lower cut. No upper cut-off was applied. ”<” is below detection limit of 0.05 g/t Au.

Prospect

Hole ID

From (m)

To (m)

Width (m)

Au g/t

Co ppm

AuEq g/t

South Palokas

PAL0235

439.5

454.7

15.2

3.0

998

3.9

South Palokas

PAL0235

494.1

495.3

1.2

0.3

0

0.3

Joki East

PAL0240

148.8

149.8

1.0

0.9

5

0.9

Joki East

PAL0240

165.1

167.5

2.4

0.1

1187

1.1

Joki East

PAL0241

168.6

170.2

1.6

28.3

1190

29.3

Joki East

PAL0242

154.0

158.5

4.4

7.3

735

7.9

Joki East

PAL0243

193.0

195.9

2.9

0.6

574

1.1

Joki East

PAL0245

177.1

178.4

1.3

25.3

2327

27.3

Joki East

PAL0245

191.0

191.5

0.5

23.0

3974

26.4

Joki East

PAL0245

194.8

196.9

2.1

2.8

806

3.5

Joki East

PAL0246

188.6

189.2

0.6

10.3

725

10.9

Joki East

PAL0246

204.4

212.4

7.9

0.7

323

1.0

Joki East

PAL0247

216.6

218.5

1.9

0.7

103

0.7

Joki East

PAL0247

220.9

230.0

9.1

4.3

457

4.7

Joki East

PAL0249

177.3

178.3

1.0

2.5

344

2.8

Joki East

PAL0250

87.5

89.2

1.7

2.0

159

2.1

Joki East

PAL0250

120.5

121.5

1.0

0.8

130

0.9

Joki East

PAL0250

125.2

128.1

2.9

1.5

782

2.2

Joki East

PAL0250

136.6

137.6

1.0

1.8

33

1.8

Joki East

PAL0251

146.5

146.9

0.5

0.4

15

0.4

Joki East

PAL0251

152.8

153.9

1.2

0.4

29

0.4

Joki East

PAL0252

117.0

118.5

1.5

18.1

1696

19.6

Joki East

PAL0254

215.0

218.1

3.1

0.4

107

0.5

Joki East

PAL0254

288.5

290.0

1.5

1.3

167

1.4

Hut

PAL0255

78.8

90.1

11.4

0.4

123

0.5

Hut

PAL0255

102.5

103.5

1.1

0.1

314

0.3

Hut

PAL0255

106.6

110.5

4.0

0.1

222

0.3

Hut

PAL0255

212.7

213.8

1.1

0.1

609

0.6

Hut

PAL0255

236.6

237.7

1.1

0.2

268

0.4

Hut

PAL0255

312.1

313.1

1.0

1.0

44

1.1

Hut

PAL0256

79.4

83.0

3.7

0.2

67

0.3

Hut

PAL0256

95.9

96.9

1.0

0.2

382

0.5

Hut

PAL0256

100.2

101.2

1.0

0.3

127

0.4

Hut

PAL0256

110.0

113.0

3.0

0.9

549

1.3

Hut

PAL0256

115.1

119.0

3.9

0.3

223

0.5

Hut

PAL0256

121.4

125.0

3.7

0.1

234

0.3

Hut

PAL0256

140.0

142.0

2.0

0.0

385

0.4

Hut

PAL0257

47.0

48.0

1.0

0.1

219

0.3

Hut

PAL0257

174.5

175.5

1.0

0.1

429

0.4

Hut

PAL0259

95.8

124.0

28.3

1.0

1090

2.0

Hut

PAL0259

126.3

150.3

24.0

1.0

1104

2.0

Hut

PAL0259

153.3

154.3

1.0

1.7

10

1.7

Hut

PAL0259

159.0

166.0

7.0

1.1

31

1.2

Hut

PAL0260

89.8

97.8

8.0

0.4

83

0.5

Hut

PAL0260

109.0

114.4

5.4

3.0

262

3.2

Hut

PAL0260

290.5

291.5

1.0

0.1

1357

1.2

Hut

PAL0263

98.7

99.9

1.1

2.2

473

2.6

Hut

PAL0263

103.0

116.6

13.6

1.2

98

1.3

Hut

PAL0263

121.5

125.8

4.3

2.3

26

2.3

Hut

PAL0263

222.3

231.5

9.2

1.1

256

1.3

Hut

PAL0265

203.2

204.2

1.0

1.0

11

1.0

Hut

PAL0265

231.6

241.6

10.0

0.8

406

1.1

Hut

PAL0269

185.7

186.7

1.0

0.1

461

0.5

Hut

PAL0269

191.7

193.8

2.1

5.2

275

5.5

Hut

PAL0269

195.9

210.9

15.0

1.0

307

1.3

Hut

PAL0269

214.9

215.9

1.0

0.6

14

0.6

Hut

PAL0269

219.4

222.4

3.0

3.1

13

3.1

Hut

PAL0269

250.0

250.9

0.8

1.8

66

1.9

South Palokas

PAL0286

100.6

115.6

15.0

0.2

669

0.8

South Palokas

PAL0288

119.0

130.0

11.0

4.0

756

4.6

South Palokas

PAL0288

134.0

140.0

6.0

0.3

448

0.7

South Palokas

PAL0290

186.0

194.0

8.0

0.3

394

0.6

South Palokas

PAL0290

197.0

198.0

1.0

0.7

142

0.8

South Palokas

PAL0290

201.0

203.0

2.0

<0.3

372

0.3

South Palokas

PAL0290

229.8

230.8

1.0

0.1

444

0.4

South Palokas

PAL0290

240.0

260.0

20.0

1.7

529

2.1

Raja

PAL0295

31.6

37.6

6.0

<0.3

1054

0.9

Raja

PAL0295

40.7

41.7

1.0

<0.3

930

0.8

Raja

PAL0295

49.3

50.3

1.0

0.7

175

0.8

Raja

PAL0295

53.3

69.0

15.7

3.8

783

4.5

South Palokas

PAL0296

203.5

204.5

1.0

0.3

194

0.5

South Palokas

PAL0296

254.0

278.0

24.0

1.3

538

1.8

South Palokas

PAL0296

281.0

291.4

10.4

0.4

141

0.5

South Palokas

PAL0296

322.5

329.5

7.0

1.8

288

2.0

Raja

PAL0297

40.9

45.9

5.0

<0.3

1127

1.0

Raja

PAL0297

65.4

68.4

3.0

2.8

263

3.0

Raja

PAL0297

74.0

94.7

20.7

7.4

111

7.5

Raja

PAL0297

97.7

106.2

8.5

2.3

812

3.0

South Palokas

PAL0299

339.0

341.0

2.0

0.7

167

0.8

Raja

PAL0302

97.4

99.4

2.0

7.1

96

7.2

Raja

PAL0302

125.4

126.4

1.0

0.4

33

0.4

Raja

PAL0302

144.0

148.4

4.4

1.6

512

2.0

South Palokas

PAL0303

553.2

584.0

30.8

3.9

1403

5.1

South Palokas

PAL0303

597.8

600.8

3.0

0.0

498

0.5

South Palokas

PAL0303

613.7

616.2

2.5

0.0

1703

1.5

South Palokas

PAL0305

190.7

192.7

2.0

0.5

15

0.5

South Palokas

PAL0305

196.7

197.7

1.0

0.4

80

0.5

South Palokas

PAL0305

201.3

203.3

2.0

1.9

110

2.0

South Palokas

PAL0305

220.9

237.6

16.7

0.6

639

1.1

South Palokas

PAL0307

305.4

308.6

3.2

0.3

499

0.7

South Palokas

PAL0308

439.5

461.8

22.3

0.6

751

1.3

South Palokas

PAL0308

494.0

502.5

8.5

3.1

866

3.9


Table 3: Individual assay data from drill holes reported in this press release.

Hole ID

From (m)

To (m)

Width (m)

Au g/t

Co ppm

AuEq g/t

PAL0286

100.6

101.6

1.0

0.1

448

0.5

PAL0286

101.6

102.6

1.0

0.2

1362

1.4

PAL0286

102.6

103.6

1.0

0.1

621

0.6

PAL0286

103.6

104.6

1.0

0.8

658

1.4

PAL0286

105.6

106.6

1.0

0.1

467

0.5

PAL0286

106.6

107.6

1.0

0.4

11

0.4

PAL0286

109.6

110.6

1.0

0.8

897

1.6

PAL0286

110.6

111.6

1.0

0.2

796

0.8

PAL0286

111.6

112.6

1.0

0.0

944

0.8

PAL0286

112.6

113.6

1.0

<

532

0.5

PAL0286

113.6

114.6

1.0

0.1

784

0.7

PAL0286

114.6

115.6

1.0

0.2

2163

2.0

PAL0296

203.5

204.5

1.0

0.3

194

0.5

PAL0296

204.5

205.5

1.0

0.2

135

0.3

PAL0296

254.0

255.0

1.0

0.7

188

0.8

PAL0296

255.0

256.0

1.0

0.6

303

0.9

PAL0296

256.0

257.0

1.0

2.9

732

3.5

PAL0296

257.0

258.0

1.0

1.8

518

2.3

PAL0296

258.0

259.0

1.0

1.2

362

1.5

PAL0296

259.0

260.0

1.0

2.3

503

2.7

PAL0296

260.0

261.0

1.0

1.0

651

1.5

PAL0296

261.0

262.0

1.0

3.2

476

3.6

PAL0296

262.0

263.0

1.0

0.7

591

1.2

PAL0296

263.0

264.0

1.0

3.8

691

4.4

PAL0296

264.0

265.0

1.0

4.6

893

5.4

PAL0296

265.0

266.0

1.0

2.4

293

2.7

PAL0296

266.0

267.0

1.0

0.6

397

0.9

PAL0296

267.0

268.0

1.0

0.7

1169

1.7

PAL0296

268.0

269.0

1.0

0.3

852

1.0

PAL0296

269.0

270.0

1.0

3.0

947

3.8

PAL0296

270.0

271.0

1.0

1.0

710

1.6

PAL0296

271.0

272.0

1.0

0.1

335

0.4

PAL0296

272.0

273.0

1.0

0.1

221

0.3

PAL0296

273.0

274.0

1.0

0.3

487

0.7

PAL0296

274.0

275.0

1.0

0.2

416

0.6

PAL0296

275.0

276.0

1.0

0.4

341

0.7

PAL0296

276.0

277.0

1.0

0.2

440

0.6

PAL0296

277.0

278.0

1.0

0.2

408

0.5

PAL0296

280.0

281.0

1.0

0.2

117

0.3

PAL0296

281.0

282.0

1.0

0.3

127

0.4

PAL0296

282.0

283.0

1.0

0.3

35

0.3

PAL0296

283.0

284.0

1.0

0.7

106

0.7

PAL0296

284.0

285.0

1.0

0.4

88

0.5

PAL0296

285.0

286.0

1.0

0.1

392

0.4

PAL0296

288.0

289.0

1.0

0.8

342

1.1

PAL0296

289.0

290.0

1.0

1.2

246

1.4

PAL0296

290.0

291.4

1.4

0.4

42

0.5

PAL0296

322.5

323.5

1.0

5.4

307

5.7

PAL0296

323.5

324.5

1.0

3.6

380

3.9

PAL0296

324.5

325.5

1.0

0.4

256

0.6

PAL0296

325.5

326.5

1.0

0.2

292

0.5

PAL0296

326.5

327.5

1.0

0.4

233

0.6

PAL0296

327.5

328.5

1.0

0.9

294

1.2

PAL0296

328.5

329.5

1.0

1.5

252

1.8

PAL0299

339.0

340.0

1.0

0.4

319

0.7

PAL0299

340.0

341.0

1.0

1.0

15

1.0

PAL0299

341.0

341.9

0.9

0.3

7

0.3

PAL0303

553.2

554.2

1.0

0.1

842

0.8

PAL0303

554.2

555.2

1.0

<

429

0.4

PAL0303

555.2

556.2

1.0

<

383

0.4

PAL0303

556.2

556.9

0.7

<

382

0.4

PAL0303

556.9

557.9

1.0

0.1

1172

1.1

PAL0303

557.9

558.9

1.0

0.1

1810

1.7

PAL0303

558.9

559.9

1.0

0.3

1910

1.9

PAL0303

560.9

561.9

1.0

0.4

843

1.1

PAL0303

561.9

562.9

1.0

1.8

1010

2.6

PAL0303

562.9

563.9

1.0

1.1

2472

3.2

PAL0303

563.9

564.9

1.0

8.9

2164

10.7

PAL0303

564.9

565.9

1.0

1.8

1685

3.3

PAL0303

565.9

566.9

1.0

1.8

1640

3.2

PAL0303

566.9

567.9

1.0

3.1

3618

6.2

PAL0303

567.9

568.9

1.0

3.8

2101

5.6

PAL0303

568.9

569.9

1.0

2.2

3517

5.2

PAL0303

569.9

570.9

1.0

5.0

1261

6.1

PAL0303

570.9

571.9

1.0

5.0

1211

6.0

PAL0303

571.9

572.9

1.0

7.8

1712

9.3

PAL0303

572.9

573.9

1.0

30.6

720

31.2

PAL0303

575.0

576.0

1.0

8.9

1036

9.8

PAL0303

576.0

577.0

1.0

1.5

2026

3.2

PAL0303

577.0

578.0

1.0

3.2

1583

4.5

PAL0303

578.0

579.0

1.0

7.9

2267

9.8

PAL0303

579.0

580.0

1.0

3.1

1592

4.4

PAL0303

580.0

581.0

1.0

5.5

1030

6.4

PAL0303

581.0

582.0

1.0

11.0

949

11.8

PAL0303

582.0

583.0

1.0

3.3

1059

4.2

PAL0303

583.0

584.0

1.0

1.5

662

2.1

PAL0303

597.8

598.8

1.0

<

680

0.6

PAL0303

599.8

600.8

1.0

<

727

0.6

PAL0303

613.7

614.7

1.0

0.0

1858

1.6

PAL0303

614.7

615.3

0.7

<

1186

1.0

PAL0303

615.3

616.2

0.9

0.1

1904

1.7

PAL0305

174.0

175.0

1.0

0.3

21

0.3

PAL0305

190.7

191.7

1.0

0.7

8

0.7

PAL0305

191.7

192.7

1.0

0.3

21

0.3

PAL0305

196.7

197.7

1.0

0.4

80

0.5

PAL0305

200.3

201.3

1.0

0.3

33

0.3

PAL0305

201.3

202.3

1.0

3.5

179

3.7

PAL0305

202.3

203.3

1.0

0.4

41

0.4

PAL0305

213.7

214.7

1.0

0.1

141

0.3

PAL0305

220.9

221.9

1.0

0.1

550

0.6

PAL0305

223.0

224.2

1.2

0.2

652

0.7

PAL0305

224.2

225.2

1.0

0.7

1725

2.2

PAL0305

225.2

226.2

1.0

1.1

981

1.9

PAL0305

226.2

227.2

1.0

0.2

1523

1.5

PAL0305

227.2

228.2

1.0

0.1

292

0.4

PAL0305

228.2

229.5

1.3

1.4

1021

2.3

PAL0305

229.5

230.5

1.0

0.1

320

0.4

PAL0305

230.5

231.5

1.0

3.5

776

4.1

PAL0305

232.5

233.7

1.2

0.2

871

0.9

PAL0305

233.7

234.7

1.0

<

294

0.3

PAL0305

234.7

235.9

1.2

0.1

434

0.5

PAL0305

235.9

236.8

1.0

0.1

437

0.5

PAL0305

236.8

237.6

0.8

1.2

56

1.2

PAL0307

305.4

306.4

1.0

0.7

492

0.7

PAL0307

306.4

307.6

1.2

0.1

586

0.1

PAL0307

307.6

308.6

1.0

0.1

401

0.1

PAL0308

438.5

439.5

1.0

0.1

274

0.3

PAL0308

439.5

440.5

1.0

0.1

2522

2.3

PAL0308

440.5

441.5

1.0

0.2

2876

2.6

PAL0308

441.5

442.5

1.0

0.3

939

1.1

PAL0308

442.5

443.5

1.0

0.3

1488

1.6

PAL0308

443.5

444.5

1.0

3.1

490

3.5

PAL0308

444.5

445.5

1.0

4.3

347

4.6

PAL0308

445.5

446.5

1.0

0.4

177

0.5

PAL0308

446.5

447.5

1.0

0.3

216

0.5

PAL0308

447.5

448.5

1.0

0.2

125

0.3

PAL0308

448.5

449.7

1.3

0.1

492

0.5

PAL0308

449.7

450.7

1.0

1.7

1098

2.6

PAL0308

450.7

451.7

1.0

0.5

1271

1.6

PAL0308

451.7

452.7

1.0

0.4

668

0.9

PAL0308

452.7

453.7

1.0

0.3

543

0.7

PAL0308

453.7

454.7

1.0

0.2

468

0.6

PAL0308

454.7

455.7

1.0

0.6

387

1.0

PAL0308

455.7

456.7

1.0

0.3

395

0.6

PAL0308

456.7

457.7

1.0

0.3

335

0.5

PAL0308

457.7

458.7

1.0

0.1

290

0.4

PAL0308

458.7

459.7

1.0

0.2

282

0.4

PAL0308

459.7

460.7

1.0

0.1

673

0.7

PAL0308

460.7

461.7

1.0

0.1

505

0.5

PAL0308

492.6

493.6

1.0

0.2

649

0.7

PAL0308

494.0

495.0

1.0

4.0

610

4.6

PAL0308

495.0

496.0

1.0

0.2

653

0.7

PAL0308

496.0

497.0

1.0

0.3

1237

1.4

PAL0308

497.0

498.0

1.0

0.6

1128

1.6

PAL0308

498.0

499.0

1.0

16.1

1478

17.4

PAL0308

499.0

500.0

1.0

3.5

704

4.1

PAL0308

500.0

501.0

1.0

1.5

830

2.2