VANCOUVER, June 28 /CNW/ - Mawson Resources Limited ("Mawson") TSXv -
MAW; Frankfurt - MRY. Michael Hudson, President & CEO, reports that the
Company is pleased to announce that the final permitting process at Don Benito
uranium investigation permits has commenced.
The Mining Authorities from the Spanish province of Badajoz ("Junta de
Extremadura") have requested that Mawson make a "Guarantee Payment" for the
definitive admission of the uranium investigation permits that cover the Don
Benito uranium project. Payment of this guarantee by Mawson on June 27th 2007
to the Mining Authorities marks the final phase of the claim permitting
process, and the Company is confident that the granting and demarcation of the
Don Benito Investigation Permits (12684-D and 12686-D) shall be complete by
The Don Benito uranium claims cover the La Haba open pit uranium mine
which ceased operation in 1990, and the adjacent in-situ uranium resources.
The mine and resource area are currently overlain by the 3,865 hectare La Haba
State Mineral Reserve. Spanish Mining Law states that on lifting of a State
Reserve, the mineral rights within the State Reserve, will fall directly to
the holder of the overlying granted permits. In addition to the definitive
admission of the uranium investigation permits, the La Haba Mineral Reserve is
currently in the process of being lifted by the National Authorities of Spain.
Significant un-mined historic resources remain within the La Haba State
- 6.0 million lbs at 0.06% U3O8 at a 200ppm lower cut-off,
- 3.0 million lbs at 0.1% U3O8 at a 600ppm lower cut-off.
The resources were calculated using a computational inverse distance
method based on 3 metre horizontal benches and 40 metre square cells and is
roughly analogous to the CIM definitions "Measured" and "Indicated". The depth
of the resource extends from surface to 130 metres. The quoted resources are
based on the PhD Thesis, "Petrology and Geochemistry of the Uranium Deposits
of South East Badajoz" by Dr Javier Almarza Lopez of the University of Seville
dated March 1996. These data are historical in nature and were compiled prior
to the implementation of Canadian NI 43-101 reporting standards. Mawson has
not completed sufficient exploration to verify the estimates and is not
treating them as National Instrument compliant resources or reserves verified
by a qualified person and the historical estimate should not be relied upon.
The Company believes this historical resource and the data used to compile the
estimate - which represent the most recent estimates and data available - are
generally reliable and relevant.
Mr Hudson states, "We are extremely pleased that the final definitive
admission of the Don Benito permits has commenced. The project is unique in
that significant infrastructure is already in place including power, roads and
30 kilometers of resource and reserve drilling. Considering the pace of
granting, the Company is now compiling all the past data with the aim to move
to a NI 43-101 compliant resource by the December 2007. Concurrently, the
Company will undertake a scoping study aimed at determining the potential
economic scenario of reopening the Don Benito uranium. This study is slated
for the first quarter of 2008."
The qualified person for the Mawson's Spanish uranium projects, 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.
About the Company: Mawson Resources holds significant uranium resources
in the nuclear energy reliant countries of Spain, Sweden and Finland. As the
European Union reduces its reliance on carbon-based energy sources, Mawson is
well placed as the Company develops its exploration portfolio towards the
sustainable production of uranium in the shortest possible time frame.
On behalf of the Board,
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 well 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 Relations Consultants - Mining Interactive,
Nick Nicolaas, (604) 657-4058, Wayne Melvin, (604) 619-6327, Email: