Mawson drills near-surface uranium at Tasjo, Sweden



    TSXv - MAW; Frankfurt - MRY

    VANCOUVER, March 19 /CNW/ - Michael Hudson, President & CEO, announces
results from the first drill holes completed by Mawson at its Kronotorpet
uranium - rare earth element (REE) project at Tasjo in northwestern Sweden.
    Results are available for the first 19 holes (KRODD06001 to KRODD07019)
of a 40-drill hole, 2000-metre drill program that will continue until the
spring thaw in April.
    Uranium mineralization was targeted from the surface to approximately
40 metres vertical depth. These 19 drill holes tested an area of 100 metres by
500 metres, in which all but four holes intersected the uranium-mineralized
horizon. The remainder of the drill program will extend this area over a
700-metre by 200-metre area. Drilling was performed on a grid of 25 or
50-metre spacing, on sections separated by 100 metres. The aim of the program
is to collect sufficient sample to perform metallurgical test work, and to
define an initial CIM-compliant resource within the Kronotorpet area.
    Better results are included below with a full list of results presented
in the attached table 1.

    
    -------------------------------------------------------------------------
    Drill Hole       From       To      Width     U3O8      U3O8   Total REE
                      (m)       (m)      (m)       ppm     lbs/t       ppm
    -------------------------------------------------------------------------
    KRODD06005       37.1      50.1      13.0      233      0.51        1016
    -------------------------------------------------------------------------
    KRODD06004        3.2      12.2       9.0      287      0.63        1032
    -------------------------------------------------------------------------
    KRODD06015        4.2      11.9       7.7      304      0.67        1085
    -------------------------------------------------------------------------
    KRODD06009        2.0       9.5       7.5      278      0.61        1100
    -------------------------------------------------------------------------
    KRODD06009        2.0       7.0       5.0      333      0.73        1146
    -------------------------------------------------------------------------
    KRODD06011        7.0      13.7       6.7      241      0.53         974
    -------------------------------------------------------------------------
    KRODD06005       40.1      45.1       5.0      316      0.70        1149
    -------------------------------------------------------------------------
    

    Tasjo is a sedimentary uranium deposit where uranium mineralization is
associated with concretions of carbonate-fluorapatite, which constitute up to
20% of the rock. Mass balance calculations indicate that the uranium grade of
the apatite is 0.16%.
    Mawson controls a 40-km strike extent of the uranium-mineralized unit in
the Tasjo field. Based on 80 historic drill holes and the report, "Geological
Investigations in the Tasjo area in 1963 and 1964" (G. Armands, Swedish Atomic
Energy Company) it is estimated that 75 to 150 million tonnes exist at Tasjo,
with a grade range of 0.03% to 0.07% uranium oxide (U3O8), 0.11% to 0.24% REE
and 3.75% to 7.5% phosphate (P2O5). Total contained metal within the field is
estimated between 104 to 116 million pounds of U3O8, 165,000 to 180,000 tonnes
of REE and 5.63 million tonnes of P2O5. This exploration target estimate is
based on the aforementioned report. The potential quantity and grade is
conceptual in nature, as there has been insufficient exploration to define the
target at this time and it is uncertain that further exploration will result
in the definition of a resource.
    The magnitude of the exploration target was confirmed in a recent
independent NI43-101 technical report by Andrew Browne of Geosynthesis Pty
Ltd, the current qualified person at the Jabiluka uranium project in
Australia, after a review of Swedish Geological Survey documentation, a field
visit and check analysis of core samples.
    Further information regarding the Tasjo project and the current drilling
program may be found at
http://www.mawsonresources.com/index.php?page=ProjectsTasjo.
    Mr. Hudson stated: "The first drill results from Tasjo have shown
multiple near-surface uranium and rare earth mineralized horizons, which
average five metres true thickness over an area of 100 metres by 500 metres.
The consistency of grade, the strike extent and the shallow depth of uranium
mineralization are most encouraging. Further drill results from a larger area
will soon be available."
    The qualified person for the Tasjo project, Mark Saxon, Director and
Vice-President of Exploration for Mawson, and a member of the Australasian
Institute of Mining and Metallurgy, has reviewed and verified the contents of
this release.

    
    -------------------------------------------------------------------------
                                                           Total
    Section  Drill Hole   From   To   Width  U3O8   U3O8    REE      Unit
                           (m)   (m)   (m)    ppm   lbs/t   ppm
    -------------------------------------------------------------------------
    150E     KRODD06001                                             Host not
                                                                 intersected
    -------------------------------------------------------------------------
    150E     KRODD06002                                             Host not
                                                                 intersected
    -------------------------------------------------------------------------
    150E     KRODD06003    4.5   8.3   3.8    126   0.28    457   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    50E      KRODD06004    3.2  12.2   9.0    287   0.63   1032   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
                          35.1  40.2   5.1    259   0.57   1069   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    50E      KRODD06005    3.5   8.5   5.0    157   0.35    467   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
                          37.1  50.1  13.0    233   0.51   1016   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    50W      KRODD06006    2.0   5.0   3.0    151   0.33    695   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
                          25.5  30.4   4.9    232   0.51    903   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    50W      KRODD06007                                             Host not
                                                                 intersected
    -------------------------------------------------------------------------
    50W      KRODD06008   31.8  35.2   3.4    225   0.50    867   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    50W      KRODD06009    2.0   9.5   7.5    278   0.61   1100   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    150W     KRODD06010   18.0  24.7   6.7    198   0.43    918   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    150W     KRODD06011    7.0  13.7   6.7    241   0.53    974   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    150W     KRODD06012                                             Host not
                                                                 intersected
    -------------------------------------------------------------------------
    250W     KRODD06013   37.1  40.1   3.0    222   0.49    924   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
                          42.2  45.3   3.2    296   0.65   1123   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    250W     KRODD06014   13.9  18.9   5.0    219   0.48    278   Alum Shale
    -------------------------------------------------------------------------
                          24.8  26.4   1.6    327   0.72   1221   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    250W     KRODD06015    4.2  11.9   7.7    304   0.67   1085   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    350W     KRODD06016   25.5  27.5   2.0    209   0.46    278   Alum Shale
    -------------------------------------------------------------------------
    350W     KRODD06017   16.8  21.8   5.0    195   0.43    269   Alum Shale
    -------------------------------------------------------------------------
    350W     KRODD06018   37.5  39.5   2.0    169   0.37    271   Alum Shale
    -------------------------------------------------------------------------
                          42.3  45.7   3.4    324   0.71   1111   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    250W     KRODD06019   60.9  62.9   2.0    309   0.68   1081   Lycophoria
                                                                        Host
    -------------------------------------------------------------------------
    

    On behalf of the Board,


    "Michael Hudson"
    --------------------------------
    Michael Hudson, President & CEO


    Forward Looking Statement. This news release contains certain
"forward-looking" statements and information relating to the Company that are
based on the beliefs of the Company's management as wel as assumptions made by
and information currently available to the Company's management. Such
statements reflect the current risks, uncertainties and assumptions related to
certain factors including, without limitations, competitive factors, general
economic conditions, customer relations, relationships with vendors and
strategic partners, the interest rate environment, governmental regulation and
supervision, seasonality, technological change, changes in industry practices,
and one-time events. Should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein. Neither the TSX
Venture Exchange nor the Frankfurt Deutsche Borse have reviewed the
information contained herein and, therefore, do not accept responsibility for
the adequacy or accuracy of this news release.





For further information:

For further information: Investor Information, www.mawsonresources.com,
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7; Company Contact: Mariana
Bermudez, (604) 685-9316; Investor Relation Consultants - Mining Interactive,
Nick Nicolaas, (604) 6570-4058; Wayne Melvin, (604) 619-6327, Email:
info@mawsonresources.com


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