Mawson Resources Limited - 4th quarter update - Consolidating uranium resources in Europe

    VANCOUVER, June 19 /CNW/ - Mawson Resources Limited ("Mawson") TSXv -
MAW; Frankfurt - MRY. Michael Hudson, President & CEO, reports that the
Company's fourth quarter, which ended May 31, 2007, has been an active one on
the corporate, acquisition and drill fronts. After recent acquisitions, Mawson
holds a significant portfolio of 100%-owned, advanced, resource-status
projects (Table 1) and in total, Mawson is exploring 19 uranium projects in
three European mining countries.

                 Table 1: Mawson's Resource Status Projects:
    Country   Project    Contained   Million   Grade  Resource    Drill holes
                           U(3)O(8)   Tonnes            Status
    Spain     Don              5.1      2.0    0.12%  Historic(1)    +30,000m
    Sweden    Duobblon        11.6     16.2    0.03%  Inferred(2)    55 drill
                                                        NI43-101    holes for
                                                       Compliant      10,316m
    Sweden    Klappi-          2.1      0.9    0.10%  Indicated(2)   32 drill
              backen                                    NI43-101    holes for
                                                       Compliant       3,951m
    Finland   Nuottijarvi      2.9      2.9    0.04%  Historic(3)    43 drill
                                                                    holes for
    Sweden    Tasjo         104 to    75 to    0.03%  Exploration  +130 drill
                               116      150      to     Target(4)       holes
                           million             0.07%
                         pounds of

    Note 1: Historic Resource Estimates - The La Haba project includes an
    historic open pit uranium mine and existing resources, which are overlain
    by a 3,865 hectare State Mineral Reserve to which Mawson presently has no
    current entitlement. The resources were calculated using a computation
    inverse distance method based on three metre horizontal benches and 40
    metre 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 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
    NI 43-101 reporting standards. Mawson has not completed sufficient
    exploration to verify the estimates and is not treating them as National
    Instrument defined 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.

    Note 2: As per NI43-100 Technical Report "Review of Three Uranium
    Properties in Northern Sweden: Klappibacken, Duobblon, and Tasjo", dated
    7 March 2007 by Andrew Browne BSc (Hons), FAusIMM, MCIM, MGSA, MSEG,
    CPGeo of GeoSynthesis Pty Ltd.

    Note 3: Historic Resource Estimates at Nuottijarvi: The historical
    resource estimates quoted are based on a report titled "Paltamo Nuoti
    Resource Calculation" by Aarto Huhma in 1969 of Outokumpu Oy. The
    resource was calculated using a polygonal method and is roughly analogous
    to CIM definitions "Indicated" and "Inferred". Data is historical in
    nature compiled prior to the implementation of NI 43-101 reporting
    standards. Mawson has not completed sufficient exploration to verify the
    estimates. Mawson is not treating them as National Instrument defined
    resources or reserves verified by a Qualified Person, and the historical
    estimate should not be relied upon. The Company does not have, and is not
    aware of, any more recent resource estimates that conform to the
    standards set out in National Instrument 43-101.

    Note 4: The exploration target estimates at Tasjo are based on the
    report, "Geological Investigations in the Tasjo area in 1963 and 1964" by
    G. Armands of the Swedish Atomic Energy. The potential quantity and grade
    indicated is conceptual in nature, 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. A total
    of approximately 130 exploration drill holes have been drilled in the
    Tasjo field over a 200 square kilometre area.


    Mawson expects to receive notice as to the progress of permitting at the
Don Benito uranium project from the Spanish Mining Authorities this month. The
Don Benito uranium claims are a major addition to the Mawson portfolio,
allowing the Company to elevate itself with potential to become a near term
European uranium producer. The claims cover the La Haba open pit uranium mine
which ceased operation in 1990, and the adjacent in-situ uranium historic
resources of 5.1 million pounds of U(3)O(8) (Table 1). In total, Mawson has
applied for a 35 kilometre strike of the mineralized horizon where at least 40
projects have been identified. The mine and resource area are currently
overlain by the La Haba State Mineral Reserve. However, Spanish Mining Law
states that when a State Mineral Reserve that lies within a granted
investigation permit is lifted, the mineral rights held within the State
Mineral Reserve, such as at La Haba, will fall directly to the holder of the
overlying granted investigation permit.
    The project is particularly significant due to the recent uranium mining
history, the presence of substantial infrastructure including power and roads
and the 30 kilometers of resource and reserve drilling. The Company has an
experienced technical team compiling historic data and aims to quote a
NI43-101 compliant resource by December 2007. Concurrently, the Company will
undertake a scoping study to determine the economic parameters of reopening
the Don Benito uranium mine. This study is slated for the first quarter of
    During the quarter the Company also secured four uranium exploration
claims totaling 11,400 hectares in the Salamanca uranium mining district of
Spain. The ground was awarded to Mawson after a competitive public tender over
areas previously held by the Spanish Government. Two permits won by Mawson lie
within two kilometres of Spain's largest historic uranium mines, Mina Fé and
Corta D.


    In Sweden, 53 drill holes were completed at the Tasjo uranium project,
whilst two holes were completed at the Klappibacken uranium project. Drilling
at Tasjo continued to discover multiple near-surface uranium and rare earth-
mineralized horizons, which average five metres true thickness over an area of
1,100 metres by 250 metres. Further drill results area are awaited. Drill
results from Klappibacken are expected within the next week.
    During the quarter the Company also announced the staking of the
Tresjoarna project in Sweden where past drilling intersected zones of
near-surface uranium mineralization with grades up to 0.61% U(3)O(8).
    The company has signed contracts to recommence drilling at Klappibacken
in July, when summer conditions provide suitable access. Radon cap surveys
have commenced at Stensjodalen and Tresjoarna. A ground EM survey is underway
at Tasjo which will map the near surface uranium host over a 20-kilometre
strike length. Furthermore, a preferred metallurgical consulting group has
been identified with extensive uranium and REE processing experience, with
which terms of reference for metallurgical research are being discussed.
    Widerange Corporation Pty Ltd also informed the Company that it has
successfully completed its due diligence on four of Mawson's non-core uranium
projects in Sweden and will continue with its right to earn an initial 51%
interest by incurring US$1 million in-ground expenditure by April 2011,
subsequent to meeting minimum annual expenditures. Widerange may earn up to
75% interest by fully funding any project to successful feasibility. Mawson's
free-carried interest shall remain at 49% until completion of a Bankable
Feasibility Study.


    The Company announced the staking of the Nuottijarvi uranium project in
central Finland, one of that nation's largest known uranium deposits. In 1969,
Outokumpu Oy reported a historical resource at Nuottijarvi of 2.9 million
pounds of U(3)O(8) (Table 1). Subsequent to granting of the Nuottijarvi claim,
Mawson will compile historic data, move towards a NI43-101 compliant resource
and commence metallurgical test work. Further ground work has also commenced
on Mawson's five other uranium project areas in Finland.

    Mr Hudson states, "Mawson is well positioned with a strong project
portfolio, active exploration program, CDN$16 million in cash, a large uranium
resource base and near-term production potential, all in the backyard of the
world's largest consumers of nuclear power. When combined with the strong
fundamentals of the uranium market, we believe there is significant growth to
come for Mawson. The Company is managed by experienced mining industry
personnel and we will continue to pursue growth opportunities at both the
technical and corporate levels."
    The qualified person for Mawson's uranium exploration 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"
    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:,
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:

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