VANCOUVER, Nov. 2, 2011 /CNW/ - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces that a decision has been
made by TUKES (the Finnish Safety and Chemical Agency) to grant 110
exploration claims that cover a surface area of 10,580 hectares at
Mawson's Rompas gold project in northern Finland for a period of 3
years. An application to extend this period can be made within 3
years. The decision will take legal effect after a standard public
appeal process. Further information as to the outcome of this process
will be known in early December.
The decision outlines:
Granting of the mineral rights over the entire claim area to Mawson once
the decision takes legal effect; and
Limitations on exploration methods that can be completed in the Natura
2000 areas within the exploration claims, including no drilling or
trenching due to the presence of specific flora. The Natura 2000 area
over the known 6 km mineralized zone is small and covers 254 hectares
but overlies approximately 70% of the trend. There are also other
Natura 2000 areas in the claim area. Mawson is entitled to apply for a
modification of this decision by conducting an environmental program (a
Natura 2000 assessment) to address these observations in order to
obtain permission to conduct drilling and trenching in these areas.
Mr Hudson states, "This is the key step in the granting of exploration
claims at Rompas. We await the finalization of the remaining legal
process, and once complete this will allow the Company to commence a
large drill program on the project".
Shares Outstanding: 51,670,753; Cash: approximately C$11 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.
The qualified person for Mawson's Finnish projects, Mr Terry Lees, VP
Exploration for Mawson and Fellow of the Australian Institute of
Geoscientists has reviewed and verified the contents of this release.
SOURCE Mawson Resources Ltd.
For further information:
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