Mawson stakes high grade sandstone-hosted uranium projects in Sweden



    VANCOUVER, June 24 /CNW/ - Mawson Resources Limited ("Mawson") TSX - MAW;
Frankfurt - MRY Vancouver: Mr. Michael Hudson, President & CEO, announces
staking of three high grade and near surface sandstone-hosted uranium
prospects in Central Sweden. The prospects, together known as the Kapell
project, are located within fifteen kilometres of each other in the Berg
community of the Jamtland province and are held by three 100% owned permit
applications which total 4,374 hectares.
    The projects were discovered and explored by the Swedish Geological
Survey (SGU) in the 1970's during the country's energy self sufficiency
program and were more recently held by a third party company. Historic
exploration highlights include:

    
    Aviken          2.65 m @ 1.54% eU(3)O(8) from 21.8 m (drill hole
                    AVI75402)
                    2.65 m @ 1.05% eU(3)O(8) from 3.2 m (drill
                    hole AVI75401)

    Solvbacktjarn   1.55 m @ 2.38% eU(3)O(8) from 8.35m (drill hole
                    SOL75008)

    Tossassjon      18 mineralized outcrops over 1.6 km strike length, 392
                    uranium mineralized boulders, never drilled
    

    Mineralization at the three localities is developed within a sequence of
conglomerates and heavy mineral bearing sandstone that form the lowermost
stratigraphic units of the Caledonide age "Sarve Nappe" suite. A regional
scale diabase intrusion (the Ottfjall diabase) overlies the mineralization.
The Sarve Nappe rests unconformably upon the allochthonous "Offerdal Nappe",
which consists of strongly deformed sedimentary rocks. Uranium occurs in the
form of pitchblende. eU3O8 values provided are equivalent uranium oxide values
as determined by downhole radiometric logging equipment. Radiometric logging
was carried out by the Swedish Geological Survey geophysical staff during
1975, using calibrated probes and protocols of the day. Core intervals will be
assayed by Mawson to confirm historic eU3O8 results.

    Aviken

    The Aviken prospect was discovered in 1973 with the discovery of 401
mineralized boulders in three distinct boulder trains over a 1200 metre by 600
metre area. Mineralization is hosted by a porous sandstone bound by limestone
and calcareous shale. Historic work includes detailed boulder tracing,
resistivity and IP-surveys. The source of the boulder trains was targeted by
17 percussion holes and 36 diamond drill holes during 1975 and 1976. Eleven
diamond drill holes intersected significant mineralization, with better
results including 2.65 metres for 1.54% ppm eU(3)O(8) from 21.8 m (drill hole
AVI75401) and 2.65 metres for 1.05% ppm eU(3)O(8) from 3.2 m (drill hole
AVI75402).

    Solvbacktjarn

    The Solvbacktjarn prospect was discovered in 1973 where mineralization is
again hosted by porous sandstone. The initial discovery consisted of high
grade uranium and copper mineralized boulders. Work by the SGU outlined a
boulder train of 57 boulders, which was followed up with radon, IP and
resistivity surveys. The radon survey delineated several anomalies which were
tested by 216 percussion drill holes (average 22 metres deep) and 15 diamond
drill holes. Drilling confirmed widespread, but erratic uranium mineralization
controlled by faulting and folding with a best result of 1.55 metres for 2.38%
eU3O8 from 8.35m (drill hole SOL75008).

    Tossassjon

    The Tossassjon prospect was discovered by the SGU in 1975 during regional
geochemical surveys. Mineralization is hosted by a heavy mineral bearing
sandstone and a 0.5 to 2 metre thick conglomerate. Detailed boulder tracing
and geological mapping conducted by the SGU discovered 18 mineralized outcrops
and 392 mineralized boulders with strong radioactivity. The uranium
mineralized outcrops lie over a strike length of 1.8 kilometres whilst
mineralized boulders extend over a greater distance. Geochemical assays from
five outcrops ranged from 0.13% to 1.39% U(3)O(8) and averaged 0.48% U(3)O(8).
The mineralization in both outcrop and boulders is associated with significant
Cu and Ag, with assays ranging from 9 ppm to more than 13,000 ppm Cu and from
nil to more than 100g/t Ag. The Tossassjon project is yet to be drill tested.
    Mr Hudson states, "The Kapell project offers a new and attractive style
of uranium mineralization for Mawson in Sweden and complements the Company's
extensive uranium portfolio in Scandinavia. Sandstone hosted systems can form
large, good grade and metallurgically amenable orebodies. At Kapell high grade
mineralization over 1% U(3)O(8) has been discovered near surface at all three
project areas, which lie within 15 kilometres of each other. Further
geological mapping, scintillometer surveying and ground magnetics will be
undertaken during this summer before drill testing. The prospects remain open
in all directions and form high merit exploration targets."
    The qualified person for the Kapell 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.

    
    On behalf of the Board,

    "Michael Hudson"
    ------------------------------
    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.





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) 657-4058, Email: info@mawsonresources.com


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