VANCOUVER, Sept. 6, 2011 /CNW/ - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces that as a result of a
review by the British Columbia Securities Commission ("BCSC"), we are
issuing this news release to clarify our disclosure.
The BCSC identified National Instrument 43-101 ("NI 43-101") compliance
issues on the Company's website, corporate presentation and 2 page
investor relation summary. Firstly, the Company's 2 page summary and
corporate presentation disclosed resource estimates for its
Scandinavian uranium properties that did not report each resource
category separately, added inferred mineral resources to other
categories and disclosed resources solely in the form of contained
metal content. On certain pages on its website the Company had not
updated the Nuottijärvi resource in Finland from an historic to NI
43-101 resource which was completed in September 2010. An exploration
target for the Tåsjo project on an overview page of the Company's
website did not contain the necessary cautionary language. On its
website and corporate presentation the Company failed to clearly
identify and disclose the relationship of the qualified person who
approved and prepared the technical information.
While the Company dedicated significant internal resources to verify the
information contained above, the disclosure to the public through
certain information on the Company's website, in the corporate
presentation and 2 page investor relations summary was not in complete
compliance with NI 43-101. The Company wishes to clarify that all
non-compliant information has been either removed or rectified.
Additionally, given the extremely high grades at the Rompas project in
Finland, going forward the Company will publish a complete breakdown
for all individual grab samples reported.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a resource acquisition and development company with metal and energy
Mawson has distinguished itself as a leading Scandinavian gold and
uranium exploration company with a focus on the flagship Rompas project in 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. In addition, the Company is exploring for gold and copper in
the highly prospective Cordillera of Peru with a focus on a new
gold-copper discovery at Alto Quemado.
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: 51,645,753. Cash: approximately C$11.5 million.
On behalf of the Board,
Michael Hudson, President & CEO
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.
SOURCE Mawson Resources Ltd.
For further 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