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Mawson Discovers 8 New Prospects with High Grade Boulders up to 546 g/t gold over 20 kms in Finland

VANCOUVER, BC / ACCESSWIRE / November 10, 2021 / Mawson Gold Limited ("Mawson") or (the "Company") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) provides an…

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VANCOUVER, BC / ACCESSWIRE / November 10, 2021 / Mawson Gold Limited (“Mawson”) or (the “Company”) (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) provides an update on summer field programs aimed at defining near-surface mineralization beyond the current resource boundaries within its Rajapalot project in Finland.

After two years of sharp focus to drill out resources, Mawson’s summer exploration work has returned back to a regional scale within Mawson’s 100%-owned large and strategic 18,349 hectare ground holding in the Peräpohja Schist belt. The program leverages the intimate understanding of the mineral system defining the 1.04 Moz @ 3.0 g/t gold equivalent (“AuEq”) 2021 Inferred Mineral Resource estimate (link)to demonstrate the camp-scale opportunity to grow resources at Rajapalot.

Key Points:

  • Regional-scale prospecting defines 8 new gold-cobalt prospects not linked to the 1.04 Moz @ 3.0 g/t AuEq 2021 Inferred Mineral Resource estimate at Rajapalot;
  • Highest-grade samples in boulders include 546 g/t, 290 g/t and 129 g/t Au:
    • 30 boulders and outcrops averaging 35.1 g/t Au (samples >0.1 g/t Au, median of 1.5 g/t Au). Samples from boulders and outcrop are grab samples, which are selective by nature and are unlikely to represent average grades on the property;
  • Prospects cover an area of 14 kilometres x 15 kilometres, considerably extending the footprint of 2 x 3 km area which constrains the known resource;
  • Ground-based geophysical electromagnetic and magnetic studies across the larger permit area are ongoing to further define drill-ready targets for the upcoming winter drill season;
  • Mawson holds first-mover advantage into the Peräpohja Schist belt with its gold-cobalt discovery. Adjacent tenure holders to Mawson include Rio Tinto, First Quantum and Latitude 66 Cobalt (Figure 1).

Mr. Fairhall, CEO, states, “Our strategy in Finland is to not only grow resources through open extensions of the known resource bodies, but to also find repeat bodies to prove the multi-million ounce district potential of the Rajapalot project. Prior to defining any resources in Finland we announced we were exploring nine high-grade boulder fields over twelve square kilometres. We now have 1 million ounces coincident with 5 of those boulder fields. Eight additional high-grade prospect areas across a much wider area, with extremely high-grade gold found in boulders and outcrops (a rare thing in Finland), massively enlarges our search space and highlights the potential to compound our proven resource discovery success in Finland.”

The new targets are at an early exploration stage, but contain the key elements Mawson considers to be associated with gold mineralization. The entire area is under thin cover, and it is estimated that much less than 1% of the bedrock outcrops. Glacial transport direction, combined with geological features and base of till drill results indicate only a short travel distance for all mineralized boulders (<250 m).

Follow-up work for the eight new prospects (Figure 1) will include ground magnetic and electrical conductivity geophysical surveys prior to drill testing.

Technical Background

The Qualified Person, Dr Nick Cook, Mawson’s Chief Geologist, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.

Three laboratories are being used to conduct gold and multi-element assay work. Samples were transported by Mawson personnel or commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland, or to the ALSGlobal sample preparation facility at Sodankylä, Finland. Samples submitted to Kempele 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. In order to improve the detection limit of the PAL1000 technique from 0.05 g/t Au to 0.01 g/t Au for a 1 kg sample, gold concentration using the DiBK (di-isobutyle ketone) extraction method was also used. Samples transported for gold assay to Sodankylä were analyzed using 50 g fire assay and ICP finish method Au-ICP22. Multi-element analytical work was conducted by MS Analytical and ALSGlobal using methods IMS-230 and ME-MS61 respectively, both using four acid digest followed by ICP analysis. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold and cobalt content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, all three laboratories insert blanks and standards during the analytical process.

Gold equivalent “AuEq” = Au+(Co/1005) based on assumed prices of cobalt US$23.07/lb and gold US$1,590/oz.

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

Mawson Gold Limited is a gold exploration and development company and has distinguished itself as a leading exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland and its Victorian gold properties in Australia.

On behalf of the Board,

“Ivan Fairhall”
Ivan Fairhall, CEO

Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary,
+1 (604) 685 9316, [email protected]

Forward-Looking Statement

This 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: Figure 1: Plan view showing new outcrop and boulder results (light pink text boxes) and selected existing prospect, resource and drilling information from within Mawson permits (with regional Peräpohja Schist belt permit holders shown).

SOURCE: Mawson Gold Limited

View source version on accesswire.com:
https://www.accesswire.com/672029/Mawson-Discovers-8-New-Prospects-with-High-Grade-Boulders-up-to-546-gt-gold-over-20-kms-in-Finland







Today’s News

Brascan Enters into Option Agreement to Acquire Black Cat Property

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Brascan Gold Inc. (CSE: BRAS) ("Brascan" or the "Company") is pleased to announce that…

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Brascan Gold Inc. (CSE: BRAS) (“Brascan” or the “Company“) is pleased to announce that it has entered into an option agreement (the “Agreement“) with Jason Flight, Wayne Hurley, Kenneth Lewis, Garland Rice, Peter Hurley and Daniel Jacobs (collectively, the “Optionors“) to acquire a 100% interest in the Black Cat property located 40 km south of the town of Baie Verte, Newfoundland (the “Property“). The Property contains 56 mineral claims and has two licences. The Property is near Brascan’s Middle Arm Fault property, which Brascan optioned on November 4, 2021. The Property is accessible by road and is within 100 km of the Nugget gold/copper milling facility. The option claims are near the northern boundary of Maritime Resources Corp.‘s Whisker Valley project, and Maritime’s past-producer Hammerdown gold deposit, which is described in some detail in Maritime’s PEA (McCracken et al., 2020).[1]

The province of Newfoundland and Labrador is ranked among the top 10 mining jurisdictions world-wide by the Fraser Institute. The Baie Verte district in northwestern Newfoundland boasts excellent infrastructure reflecting its long mining history including a skilled workforce, a deep water port facility at Pine Cove, gold milling facilities at Pine Cove and Nugget Pond, a local assay laboratory, local mining and drilling contractors, high power transmission lines, a regional airport (100 km from the community of Baie Verte) and local hospitals, schools, hotels and supplies.

The Property covers a portion of the regionally significant Middle Arm Fault, which extends more than 15 km to the southwest, where it is spatially associated with several gold showings, as reported on the Newfoundland and Labrador Geoscience Atlas (https://geoatlas.gov.nl.ca/Default.htm). An initial round of sampling on the Property in 2020 resulted in 17 of 35 samples having the sulphite content of the quartz veins similar to the nearby Whisker Valley property. Given the strong gold content in the soil and till anomalies, it is likely that gold exists near the surface and within the mineralized quartz vein system of the Property.

Pursuant to the Agreement, the Company may acquire a 100% interest in the Property by: (i) making an aggregate cash payment to the Optionors of $168,000; (ii) issuing an aggregate of 670,000 common shares of the Company to the Optionors; and (iii) incurring an aggregate of $725,000 in exploration expenditures on the Property all prior to the fourth anniversary of the date of the Agreement. The share issuances, cash payments and exploration commitments gradually increase over the term of the Agreement. The Optionors will retain a 2.5% net smelter royalty, 1.5% of which may be purchased by Brascan for $2,000,000.

Qualified Person

Harrison Kookenboo, Ph.D., P.Geo. and a qualified person by the standards of Canadian National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.

About the Company

The Company is a gold exploration issuer based in Vancouver, BC. The Company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC and the Middle Arm Fault and Black Cat properties, located 30 km. and 40 km. south, respectively, of the town of Baie Verte, Newfoundland.

For more information, investors should review the Company’s filings that are available at www.sedar.com.

Contact Information

Balbir Johal
Director
Telephone: 604 812 1747
Email: [email protected]

Forward-Looking Statements

This news release contains certain forward-looking statements that are “forward looking information” within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the share issuances, the cash payments and the exploration expenditures, the viability of exploration at the Property and the NSR are “forward-looking information”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

[1] https://www.maritimeresourcescorp.com/site/assets/files/5013/hammerdown_pea_technical_report_4-15-20.pdf

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107033





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Results of the Shareholders Meeting

VAL-D’OR, Québec, Dec. 07, 2021 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (“Pershimex” or the “Corporation”) (TSX Ventures: PRO)…

VAL-D’OR, Québec, Dec. 07, 2021 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (“Pershimex” or the “Corporation”) (TSX Ventures: PRO) is pleased to announce the results of its annual and special meeting of shareholders held on December 3, 2021. The shareholders approved, by a majority of votes, a resolution to elect the following directors: Loïc Bureau, Roger Bureau, Robert Gagnon and Serge M. Racine. Also, the shareholders, by a majority of votes, proceeded with the appointment of Raymond Chabot Grant Thornton LLP as auditors of the Corporation and approved the continuation of the 10% rolling stock option plan.

For more information, please contact:

Robert Gagnon, President

Tel.:        (819) 825-2303

Warning

The TSX Venture Exchange and its regulatory services provider (as is attributed to this term in the policies of the TSX Venture Exchange) assume no responsibility for the relevance or accuracy of the information contained in this press release.




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Ultra Resources Inc. Closes First Tranche of Private Placement for Gross Proceeds of C$3.6 Million

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or the "Company") is pleased…

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced private placement (the “Private Placement”) for gross proceeds of C$3,626,899. The Company sold 7,005,148 flow-through units of the Company (each, a “FT Unit”) at a price of C$0.165 per FT Unit for gross proceeds of C$1,155,849 from the sale of FT Units, and 16,473,667 non-flow-through units of the Company (each, an “NFT Unit”) at a price of C$0.15 per NFT Unit for gross proceeds of C$2,471,050 from the sale of NFT Units.

Each FT Unit consists of one (1) common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”), and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each NFT Unit consists of one common share of the Company (each, a “NFT Share”) and one half of one Warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.25 per share for a period of twelve (12) months from their date of issue.

Proceeds from the sale of NFT Units will be used to fund the exploration of the Company’s Argentine and Ontario properties and for general working capital purposes.

Proceeds from the sale of FT Units will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Tax Act and “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act (“Qualifying Expenditures“). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2021, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares. Proceeds from the Offering will be used for to fund eligible exploration expenditures of the Company’s Georgia Lake and Forgan Lake projects in north-western Ontario.

Finder’s fees of C$242,889.46 were paid and 660,227 finder’s warrants were issued in connection with the Private Placement. Each finder’s warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.25 for a period of twelve (12) months from the date of issuance. All securities issued in connection with the Private Placement are subject to a statutory hold period expiring four months and one day from issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The private placement is subject to final approval by the TSX Venture Exchange.

The securities issued under the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act“), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

ON BEHALF OF THE BOARD OF DIRECTORS

“Kiki Smith”
Kiki Smith, CFO

Ultra Resources is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets. The Company holds a brine lithium property in Argentina, and hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada. The Company also holds other gold and base metals properties in Argentina.

FOR FURTHER INFORMATION CONTACT:
For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Email: [email protected]
Website: www.ultraresourcesinc.com
or view the Company’s filings at www.SEDAR.com.

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.







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