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High Grade Gold-Cobalt Discovery in Finland Corporate Presentation - - PowerPoint PPT Presentation

High Grade Gold-Cobalt Discovery in Finland Corporate Presentation November 2018 @mawsonresource TSX : MAW; OTCPINK : MWSNF www.mawsonresources.com Disclaimer Accuracy of Information: Readers are directed to the public disclosure of Mawson


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TSX : MAW; OTCPINK : MWSNF

www.mawsonresources.com @mawsonresource

High Grade Gold-Cobalt Discovery in Finland

Corporate Presentation November 2018

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Accuracy of Information: Readers are directed to the public disclosure of Mawson Resources Limited (“Mawson”) available under Mawson’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com. Information contained in this presentation was believed to be accurate at the time it was posted, but may be superseded by more recent public disclosure of Mawson. Mawson makes no representations or warranties as to the accuracy, reliability, completeness or timeliness of the information in this presentation. Forward-Looking Information: Some of the statements contained in this presentation may be forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. 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, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, 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. 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 does not assume the obligation to revise or update forward- looking statements or information that may be contained in this presentation or to revise them to reflect the occurrence of future unanticipated events. Qualified Person: The qualified person for Mawson’s projects, Nick Cook, President for Mawson, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this presentation. 2

Disclaimer

19 Nov. 2018

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Finland – New Discoveries

3

2015

Diamond drilling ROM0011: 6 m @ 617 g/t Au

2012 2011

PAL0093 1 cm

2018 2017

Gold

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4 ▪

High-grade, regional-scale gold-cobalt discovery in northern Finland, large land package (+16,000 Ha)

Project pivoting from discovery to maiden resource (imminent) and expansion, met. studies and advanced permitting

Resource expansion, 15,000m program starts Jan ’19*

16km drill program recently completed, highlights:

33.6 metres @ 9.7 g/t Au Eq, 8.0 g/t gold, 823 ppm Co

20.7 metres @ 5.6 g/t Au Eq, 3.6 g/t gold, 956 ppm Co

Cobalt assays continue to improve width, continuity and grade (+20-30% insitu value), significant potential by-product

Fully financed for next two drill seasons (C$8.5M cash)

Experienced team of ore finders

Strategic & institutional shareholder base +60% (incl. Goldcorp, Areva, private equity and US endowments)

Investment Highlights

* Permitting ongoing

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5

The World´s Highly Prospective Mineral Regions

Map by Risto Pietilä

Finland is the new “Klondike”, new discoveries, shallow cover, entry of significant players

Nordics: Rocks & Opportunity

Metal basket of Europe

+500 year history, many Tier 1 projects

Reformation since early 1990’s. Clear guidelines

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6

Safe

Cheap Grid Power

Water

Roads

“The top jurisdiction in the world for investment based on the Investment Attractiveness Index is Finland.”

Huge Benefits for Developers Investment Attractiveness Index

Skilled workforce

Airport

No FIFO

20% tax

7.4Moz Au Kittilä mine

Finland is a Mining Country

100 km

Finland hosts the largest primary gold producer in Europe

Kittilä Costs

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7

10 km

Main gold- cobalt work focused to date

Rompas-Rajapalot Prospect Locations

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1 km

8

Initial areas included in the maiden resource calculation

Rumajärvi/The Hut PAL0033: 2.2m @ 7.9 g/t AuEq from 152.5m PAL0037: 19.5m @ 2.1 g/t AuEq from 20.5m PAL0040: 8.0m @ 1.6 g/t AuEq from 35.3m PAL0043 12.0m @ 1.5 g/t AuEq from 10.6 metres Raja PAL0062 13.5m @ 4.5 g/t AuEq from 180.0m PAL0092 5.0m @ 16.1 g/t AuEq from 245.0m PAL0093 33.6m @ 9.7 g/t AuEq from 244.1m PAL0097 11.0m @ 2.6 g/t AuEq from 276.3m PAL0048 13.7m @ 3.6 g/t AuEq from 82m PAL0118 20.7m @ 5.6 g/t AuEq from 365.3m PAL0075: 10.8m @ 8.7g/t AuEq from 82.2m Boardwalk Prospect (boulder source not yet discovered)

Gold Host Horizon RAJA UNTESTED UNTESTED A A’ B B’

Rajapalot Drill Results

Palokas PRAJ0003 13.0m @ 8.3 g/t AuEq from 0m PRAJ0009 30.8m @ 8.2 g/t AuEq from 2.5m PRAJ0107 15.0m @ 8.7 g/t AuEq from 24.7m PRAJ0109 33.0m @ 4.2 g/t AuEq from 38.7m

Drillhole Assays PALOKAS

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9 A A’

Cross Section: Raja Prospect

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10 Ground Fixed Loop EM conductor extends to +1km down plunge from surface B B’

Longitudinal Section: Raja Prospect

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11

Block Diagram: Raja Prospect

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12 PRAJ0003 PRAJ0020 >100 50-100 10-50 <10

No significant assays

Gold equivalent (AuEq) grade x width intersections are plotted using Co 481 ppm = 1 g/t Au

Data are projected onto inclined plane dipping at 42 degrees towards 302 degrees Grade x width AuEq

PAL0030; 10.0 m @ 11.1 g/t AuEq from 110.2 m PAL0095; 9.8 m @ 1.1 g/t AuEq from 227.2 m PAL0016; 8.4 m @ 5.9 g/t AuEq from 206.0 m PRAJ0110; 35.9 m @ 2.1 g/t AuEq from 63.9 m PRAJ0114; 41.7 m @ 2.8 g/t AuEq from 58.1 m PAL0027; 21.3 m @ 6.4 g/t AuEq from 27.5 m PAL0091 15.6 m @ 2.4 g/t AuEq from 144.9 m

South Palokas Palokas

PAL0090; 8.9 m @ 3.1 g/t AuEq from 173.1 m

100 meters

UNTESTED UNTESTED

Longitudinal Section: Palokas Prospect

Conductors at depth

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Au g/t

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Rajapalot: Upside Evident

Raja Longitudinal View to NE Grade Block Model

Surface

Au g/t

Conductors continue to depth, below resource block models Palokas Cross Section VTEM and Block Model

100 metres

PAL0016; 8.4 m @ 5.9 g/t AuEq from 206m

150 metres IP low resistivity that defines Raja gold-cobalt subcrop IP untested parallel low resistivity (ie conductive) anomaly

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14

An Elephant By The Tail?

Depth slice VTEMplus at Rajapalot 200-300 metres below surface (gate 35)

Raja PAL0118 20.7m @ 5.6 g/t AuEq from 365.3m PAL0062 13.5m @ 4.5 g/t AuEq from 180.0m PAL0092 5.0m @ 16.1 g/t AuEq from 245.0m PAL0093 33.6m @ 9.7 g/t AuEq from 244.1m PAL0097 11.0m @ 2.6 g/t AuEq from 276.3m Amorphous carbon Rumajärvi/The Hut PAL0033: 2.2m @ 7.9 g/t AuEq from 152.5m PAL0037: 19.5m @ 2.1 g/t AuEq from 20.5m PAL0040: 8.0m @ 1.6 g/t AuEq from 35.3m

1000 metres

Ground Fixed Loop EM Surveys

  • ngoing

Palokas PRAJ0003 13.0m @ 8.3 g/t AuEq from 0m PRAJ0009 30.8m @ 8.2 g/t AuEq from 2.5m PRAJ0107 15.0m @ 8.7 g/t AuEq from 24.7m PRAJ0109 33.0m @ 4.2 g/t AuEq from 38.7m

Fixed Loop TEM Plates extending resource area +1km length

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Finland’s Strategic Cobalt

Finland refines half the world’s cobalt outside of China. The world’s largest cobalt refinery is located 400 kilometres to the south of Rajapalot

CRU estimates refining of 22,734 tonnes of cobalt in Finland (2017) (or 18.4% of world refined cobalt production of ~123,000 tonnes), with 90% of Finnish refined cobalt sourced from several Chinese-owned mines in the DRC

Meanwhile, Finland mines just 650 tonnes or 0.5% of the world's cobalt

Finland and Sweden are on the hunt for an ethical sources with a traceable ledger for cobalt, considered crucial for achieving climate goals. Mawson can support Finland’s ethical and sustainable needs.

New Exploration Technologies EU contribution: €6,901,276 Mawson Participant

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22 metres @ 2.9 g/t AuEq, 1.5 g/t Au, 662 ppm Co

Original Assay 9.0 m @ 3.2 g/t Au AuEq % increase 114%

Combined gold-cobalt mineralized intersections display increased widths and often show better continuity

Cobalt mineralization is hosted in cobaltite and cobalt pentlandite that are conventionally mined and processed in other deposits

Cobalt ppm Gold Eq ppm Gold ppm Lithology Code Downhole Depth (m)

Au/Co Distribution: Drill Hole PRAJ0110

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Excellent results of total 95% - 99% (average 97%) obtained by a combination

  • f gravity (26-48%) and conventional cyanidation*

*SGS Cornwall 17

Mineralogical work shows cobalt hosted in cobaltite (85% mass) and linneate (15% mass) in certain areas and cobalt pentlandite only in other areas

Rajapalot Gold Metallurgical Test Work

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Possible Implications for Mineral Processing Options

18

Estimated grain size:

Au – 5-20 micron (>50 micron)

Cobaltite 40

Linnaeite 20 micron

Locked Cycle Test Work Planned Q1 2019

Work completed in association with Camborne School of Mines, Geological Survey of Finland

Rajapalot Cobalt QEMSCAN

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24 Month Technical Program

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May Mar Feb Jan Dec Nov Sept Aug Jul Jun Oct Apr

Summer Work Winter Work

GTK Geometallurgy 7000 Cobalt Re-assays EM Geophysics Rajapalot Maiden Resource Metallurgy Testwork Au/Co 15km drilling, resource Expansion esp. Raja at depth

2018 2019

May Mar Feb Jan Dec Nov Sept Aug Jul Jun Oct Apr

Summer Work Winter Work

Resource Upgrade

2019 2020

Summer Diamond Drilling Hirvimaa/ Männistö Environmental Permitting Drilling – Resource Expansion Resource Upgrade Summer Diamond Drilling Hirvimaa/Männistö

6 month budget: C$6M

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Western USA – Bonus Optionality

20 ▪

One

  • f

the largest areas for exploration in mainland USA (56 kilometres x 39 kilometres);

Behind locked gates for more than 150 years;

Prospective for high and low sulphidation epithermal gold systems;

Sharp focus remains on flagship in Finland, while the WUSA project is an opportunity for rapid progress and discovery in an alternate jurisdiction. No share, low cash in ground deal;

Explored with a view to potential future joint venture, strategic alliance, or corporate transaction;

Western Cascade Ranges of Lane and Douglas Counties, Oregon, USA;

Oregon projects currently progressing through permitting to mine: Paramount Gold NV – Grassy Mountain, Alamos – Quartz Mountain.

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Western USA – Drilling now

21

Scorpion-Cinnabar A 2.2 km long and up to 400-metre-wide zone where soil geochemical samples regularly exceed 1g/t gold (up to 5.51g/t) above highly acid altered rocks. Huckleberry A series of siliceous ridges which trend

  • ver 3 kilometres, with high sulphidation

vuggy silica textures and acidic steam vents that outcrop for 1,000 metres. Geochemically anomalous rock samples with Sb, As, Hg, Bi, Mo are coincident with classic epithermal alteration zones (alunitic, silicification, argillic and propylitic). Both prospects never drilled

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Explore, Discover and Develop

22 ▪

Mawson team has a strong track record

Creation of C$500M combined market cap. during last cycle through discovery, acquisition, corporate restructuring and relationships:

Discovery 4th largest global HREE resource

New gold camp Finland

Graphite mine reopen

Large zinc discovery Peru, zinc resource expansion Ireland

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Discovery is About Leadership

23

Michael Hudson Chairman & CEO

28 yrs Geology, Capital Markets

  • Dr. Nick Cook

President

24 yrs Geology

Noora Ahola Environmental Director

12 yrs Finnish Env. Administration

Mariana Bermudez

Corporate Secretary

Tapani Hyysalo

Manager Operations Finland

Nick Demare

CFO

Noora Ahola Environmental Nick DeMare CPA David Henstridge Geologist Michael Hudson Geologist Colin Maclean Geologist / Finance Mark Saxon Geologist Philip Williams Corporate Finance

Directors Management Advisers

Georgina Carnegie World Bank, OECD

  • Dr. Erkki Vanhanen

Finnish Gold Exploration Gil Leathley Mining Engineer

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24

Capitalization Summary Major Shareholder Summary

Management & Board aligned with investors

Share Price (9 Nov. 2018) C$0.25 Basic Shares Outstanding 141.6M Fully Diluted 171.9M Basic Market Capitalization C$36.1M Cash (est. 25 Oct. 2018) C$8.5M TOTAL ENTERPRISE VALUE C$27.6M Shares (M) % Sentient Equity Partners 37.8 26.7 Goldcorp 18.0 12.7 Other Institutions 34.6 24.4 TOTAL 90.4 63.8 Insiders 7.3 5.1

Warrants and Options

Stock Options 23 Sep ’19 $0.35 4,620,000 12 May ’20 $0.365 50,000 15 Jun ’20 $0.39 400,000 Warrants 02 Dec ’18 $0.60 7,500,000 08 Dec ’19 $0.44 773,702 08 Dec ’19 $0.50 7,512,933 14 Feb ’20 $0.65 9,500,000

Share Price Performance – 1 Year

Exchanges: TSX : MAW; OTCPINK : MWSNF; Frankfurt : MXR

Ownership & Capital Structure

$0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18

Share Price (C$) Volume

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25 ▪

Large high-grade gold-cobalt system from surface

Project pivoting from discovery to resource expansion, met studies and advanced permitting

Growing resource: Maiden resource imminent, systems continue to depth and multiple untested targets within 100km2

Poised to capitalize on increased interest in Finnish exploration

Significant cobalt in association with and peripheral to gold. Potential to add significant value as a by-product

Active drill programs and fully financed

Significant strategic partners (+60% shareholder base)

Summary

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26

MAWSON RESOURCES LTD INVESTOR RELATIONS (CANADA) MAWSON OY SUOMI (FINLAND)

Mariana Bermudez

  • Corporate Secretary

Tel: +1 (604) 685 9316 Fax: +1 (604) 683 1585 info@mawsonresources.com Noora Ahola Environmental Director Ahjotie 7, 96320 Rovaniemi, Finland nahola@mawson.fi

Contact Us

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27

Comparables

Aurion Resources Ltd (TSXV:AU) C$74.2M

www.aurionresources.com

Rupert Resources Ltd (TSXV:RUP) C$89.3M

www.rupertresources.com

Mawson Resources Ltd (TSX:MAW) C$33.3M

www.mawsonresources.com

16 Nov 2018

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Kittilä Timeline

1986

Discovery GTK

Visible Gold SSW Suurikuusikko 1986 01

77 drill holes

Two campaigns 9319m 1987-1997 02 1996

0.285 Moz

1.5Mt @ 5.9 g/t Au (285K Oz Au) 1997 03

Agnico

Acquisition 2005 05

Riddarhyttan

Public tender April 1998 04 2016 07

Mine

Decision 2006

468 drill holes

143km 1998-2005 06

2.6 Moz

16Mt @ 5.1g/t Au 2007 08

7.4 Moz

26.9Mt @ 4.7g/t Au 2007 10 2006 09

575 drill holes

140 km 2006-2008

PIVOT

5.7 Moz Au 2008 ML 2003

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▪ 82% of the Rompas-Rajapalot project lie outside of Natura areas ▪ Natura 2000 sites cover about 14% of Finland, 18% of the EU's

land area and approximately 30% of Northern Finland

▪ Mawson ARE permitted to complete all exploration in Rajapalot

Natura zones – 15 year permit with 3 year renewals

▪ The next step required will come at mining where we may need

biodiversity offsets within Natura areas (20% of exploration permit area)

29 ▪ There are mining projects that have been permitted

and are in production including Krumovgrad, Prosper Haniel and Mechelse Heide Zuid

▪ Anglo American is currently permitting the Sakatti

Ni-Cu-PGE project in Natura for mining in Finland

Finland, Mawson & Natura