Progress Report on the Geology, Mineralization and Exploration Activities on the Rompas-Rajapalot Gold- Uranium Project, Peräpohja Schist Belt Lapland, Finland

Mawson Resources Ltd

Progress Report On The Geology, Mineralization And Exploration Activities On The Rompas-Rajapalot Gold- Uranium Project, Peräpohja Schist Belt Lapland, Finland

Michael Hudson, FAusIMM, MAIG, MSEG 8/26/2013

Table of Contents Table of Contents ...... 2 List of Tables ...... 4 List of Appendices ...... 4 1. Summary ...... 5 2. Introduction ...... 8 3. Reliance on Other Experts ...... 8 4. Property Description and Location...... 8 5. Accessibility, Climate, Local Resources, Infrastructure and Physiography ...... 13 6. History ...... 13 7. Geological Setting and Mineralization ...... 14 a) Regional Geological Setting ...... 14 b) Rompas Area Geology ...... 17 c) Mineralization ...... 19 8. Deposit Types ...... 22 9. Exploration ...... 22 a) Exploration Chronology: 2010 Work Program ...... 26 b) Exploration Chronology: 2011 Work Program ...... 28 c) Exploration Chronology: 2012 Work Program ...... 29 d) Exploration Chronology: 2013 Work Program ...... 32 10. Drilling ...... 36 11. Sample Preparation, Analyses and Security ...... 43 12. Data Verification ...... 45 13. Mineral Processing and Metallurgical Testing ...... 46 14. Mineral Resource Estimates ...... 46 15. Mineral Reserve Estimates ...... 46 16. Mining Methods ...... 46 17. Recovery Methods ...... 46 18. Project Infrastructure ...... 46 19. Market Studies and Contracts ...... 46 20. Environmental Studies, Permitting and Social or Community Impact ...... 47 21. Capital and Operating Costs ...... 48 22. Economic Analysis ...... 48

23. Adjacent Properties ...... 48 24. Other Relevant Data and Information ...... 49 25. Interpretation and Conclusions ...... 49 26. Recommendations ...... 50 1.0 References ...... 53

List of Tables Table 1: Status of Mawson’s Claims in Finland...... 10 Table 2: Lithostratigraphy of the Peräpohja Belt (Prave, 2013) ...... 16 Table 3: Comparison of J. Nebocat Samples (2011) with AREVA & Mawson Samples ...... 46 Table 4: Recommended company-wide budget for August-December 2013: ...... 52

List of Figures Figure 1: Rompas Project Finland Index Map ...... 9 Figure 2: Rompas Claims and Prospects ...... 10 Figure 3: Rompas Geology and Structure ...... 18 Figure 4: Rompas Rajapalot Prospect -Basaltic Host Rocks ...... 20 Figure 5: Rajapalot Overview Map with LIDAR ...... 21 Figure 6: Rompas A Horizon Geochemistry and Prospects ...... 23 Figure 7: Rompas Heavy Mineral Sampling ...... 24 Figure 8: Rajapalot Airborne and Surface Slingram EM...... 26 Figure 9: Drilling Regional Location ...... 37 Figure 10: North Rompas Drilling Plan ...... 38 Figure 11: South Rompas Drilling Plan ...... 39 Figure 12: South Rompas Cross Section 7373780N...... 40 Figure 13: South Rompas Long Section ...... 41 Figure 14: South Rompas Log Grade vs. Width ...... 42

List of Appendices Appendix 1: List of Mawson’s Claims at Rompas/Finland...... 55 Appendix 2: List of Drill Holes Collars Drilled by Mawson to Date at Rompas ...... 76

1. Summary The Rompas-Rajapalot gold-uranium project is located in the Ylitornio municipality of northern Finland at 66.45ºN and 24.75ºE, approximately 50 kilometres (“km”) west of the Rovaniemi town. The initial discovery area, Rompas was discovered by AREVA Resources Finland Oy in September 2008 as part of regional uranium exploration. Limited exploration was undertaken until Mawson purchased the exploration assets of Areva in 2010 and subsequently defined more than 300 surficial with significant grade gold (“Au”) from vein style mineralization over a 6 km strike length. Diamond drilling in 2012 and early 2013 has produced numerous Au-uranium (“U”) intersections, of which 6 metres (“m”) at 617 grams per tonne (“ g/t”) Au remains the highlight. Rajapalot is a new grassroots discovery made by Mawson, 8 km to the east of Rompas, where over a total of 52 outcrop grab samples to date average 152.8 g/t Au and range from 0.001 g/t to 2,817 g/t Au. The Rompas property consists of 108 granted claims at Rompas and 13 granted claims at Rumavuoma totaling 10,580 hectares and 1,292 hectares respectively (Table 1). The Company has staked additional claim applications and reservations in the Rompas area for a total landholding of approximately 87,480 hectares with potential for gold. The initial discovery area, Rompas, is a hydrothermal vein style system defined over a 6.0 km strike and 200-250 m width. Exploration on the project started in May 2010 and since acquiring the project in April 2010, Mawson has collected a total of 2,808 surficial soil and till samples over an area exceeding 55 km by 30 km. Sample spacing has ranged from 1 km to 250 m. Mawson’s geochemical rock chip, grab and channel sample database over this large area now contains 1,171 samples which average 212 g/t Au and 0.8% uranium oxide (“U3O8”). Of the 1,171 samples, 84 samples assay more than 100 g/t Au. Gold values range from 33,320 g/t Au to <0.001 g/t Au and U3O8 values from 49.5% to <4 parts per million (“ppm”). In 2010 Issuer collected 80 channel samples that averaged 0.59 m @ 203.66 g/t Au and 0.86% uranium oxide. During 2011 the weighted average of all 74 channel intervals was 1.40 m @ 51.9 g/t Au and 0.13% U3O8. Channel samples are considered representative of the in-situ mineralization sampled, while grab samples are selective by nature and are unlikely to represent average grades on the property. From mid-2011 to the end of the period Mawson has drilled 8,164 m in 90 holes at Rompas. This comprised 2,462.8 m in 29 drill holes at North Rompas; 2,436.2 m in 29 drill holes in the northern block at South Rompas; 2,504.3 m in 24 holes within the southern block at South Rompas; and 761.5 m in 8 drill holes at Northern Rajapalot. In August 2012, results from the first drill program at Rompas returned 6 m at 617 g/t Au in drill hole ROM0011 including 1 metre at 3,540 g/t Au and 1 m at 114.5 g/t Au in drill hole ROM0015. These results confirmed the significance of the hundreds of significant grade surface occurrences that were channel sampled during 2010 and 2011. A second drill program commenced in December 2012. At North Rompas the best results include 0.4 m at 395 g/t Au and 0.41% U3O8 from 41.0 m in drill hole ROM0052, the most southerly drill hole of the program; and 1.1 m at 9.8 g/t Au and 0.16% U3O8 from 78.5 m in drill hole ROM0053. To date, the most encouragement has come from the northern block of South Rompas, with both prospect scale shallow drilling and trenching defining a coherent mineralized sequence. South

Rompas is characterized by gold mineralization constrained to one specific host rock type (metabasalt) within a broader uranium halo. Within this halo the:  Top 24% of all trench and drill assays above the lower cut of 0.5 g/t Au or 100 ppm U3O8, have a grade of 100 g/t or more and the top 24% of all intersections have a grade of 0.42% U3O8 or higher;  Top 25% of drill intersections only have a grade of 7.7 g/t or higher;  The highest grade drill hole intersection is 3,540 g/t Au over 1 m. The highest grade uranium intersection is 3.6% U3O8 over 0.6 m in a trench. The highest grade drill intersection grade of 0.7% U3O8 over 1.0 m;  Mineralization in the vein system, to date, is characterized by narrow intersection widths of 1-2m with an average of 0.9 m thickness;  Drilling, to date, has been shallow with 46% of intersections at 20 m down hole depth or less;  11 out of 13 holes drilled in 2013 winter drill program at South Rompas had at least one intersection that exceeded lower cut 0.5 g/t Au or 100 ppm U3O8. Mawson is now evaluating further drilling or bulk sampling programs in order to best determine the gold grade in this nuggety and high-grade gold system. In September 2012, Mawson announced a new discovery at the Rajapalot area located 8 km to the east of the Rompas trend. The style of mineralization at Rajapalot is predominately sulphidic and of a disseminated or replacement style, which differs from the vein style observed at the initial Rompas discovery area. Highlights from this work include prospecting grab samples taken from outcrop that returned 2,817 g/t Au, 2,196 g/t Au, 1,245 g/t Au, 933 g/t Au, 151 g/t Au and 135.5 g/t Au. A total of 52 grab samples from the Rajapalot prospect to date average 152.8 g/t Au and range from 0.001 g/t to 2,817 g/t Au. Discovery grab samples from the Rajapalot project have returned gold mineralization from three distinct areas, namely the Palokas, Joki and Rumajärvi prospects. The areas were targeted with regional geophysics and surface soil geochemistry. Rumajärvi lies 1.5 km south of Palokas, while Joki is located 1 km southeast of Palokas. Each prospect area is characterized by minor outcrop on a topographic high, within a predominantly swampy terrain and therefore very little in situ bedrock has been located. Little outcrop has been found between the prospect areas. As the same mineralized rock types occur in outcrop, the glacial boulders sampled and reported here are considered to be proximal to their source. All samples are prospecting grab samples. These are selective by nature and are unlikely to represent average grades on the property. In June 2013, the Company announced the discovery of the Kaita prospect. To date, the discovery consists of 26 surface mineralized sites (11 with visible gold) within an area defined by 415 m strike and 40 m width. A majority of the area has not yet been surface prospected. Kaita is parallel to and located 900 m south south-east of the South Rompas drill area and extends the Rompas vein trend to at least 6.5 km. Channel sampling has already commenced at Kaita and assays are awaited. The Rompas project lies within the Peräpohja Schist Belt (PSB), a Paleoproterozoic supracrustal sequence of quartzites, mafic volcanics and volcaniclastics, carbonate rocks, black shales, mica

schists and greywackes. It is generally interpreted as a continental rift fill sequence that failed to progress to oceanic crust. Metamorphism ranges from mid or upper greenschist in the south to amphibolite facies with some of the highest grade rocks exposed at the Rompas prospect area. The amount of strain varies greatly in the PSB, with low strain rocks described well to the south of Rompas preserving vesicles and pillow lavas in mafic rocks, whereas at South Rompas in particular, total strain is very high and relic internal structure is difficult to identify. Transposition of lithologic contacts is observed at both outcrop and regional scales (from interpretation of aeromagnetic data). The host sequence to the Rompas mineralization comprise a package of amphibolite facies metamorphosed basalts, clastic sediments, carbonate rocks and reduced shales of the Paleoproterozoic Peräpohja Schist Belt in southern Lapland. Mineralized intersections to date are largely within metabasaltic rocks. Field geologists have successfully mapped the metabasalts at North and South Rompas and can recognize them quickly in drill core. Detailed field mapping and logging of drill core indicate the gold and uraninite at Rompas is hosted by carbonate-quartz-calcsilicate veins and their related alteration selvages. The calcsilicate veins comprise carbonate, quartz, amphibole and pyroxene with highly variable amounts and distribution of uraninite and gold. Alteration of the host rock marginal to the veins comprises biotite, amphibole and some K-feldspar. The gold and uraninite are typically found intimately associated at North and South Rompas, although rare elevated U intersections contain little or no gold. The carbonate veins within the host clastic sequence appear identical to those within the metabasalts, indicating perhaps a structural or wall rock control on the precipitation of the gold and uraninite. Further work to identify the controls on mineralization is being conducted in association with the Geological Survey of Finland (GTK). Importantly, about 90% of the Rompas-Rajapalot project area is below soil and till cover which, at up to 5m thick, is too thick for the discovery of near-surface radiometric occurrences and exploration is at its very earliest of stages. At this very early stage of exploration, Mawson has now identified a mineral system that has deposited high-grade gold within an area approaching 10km by 10km. This is considered significant on a global scale. A continuing program is recommended at Rompas with the main goals aimed to: 1. Drill coherent gold mineralization  Drill test non-nuggety gold, i.e. Rajapalot targets outside Natura  Determine controls of nuggety system 2. Drill access to best targets across property  Define robust drill targets and gain drilling access to Rajapalot targets 3. Continue to build the mineralization inventory, focus outside Natura  98% of property under till cover

A program of at least 1,200 m of diamond drilling and 800 m of RC Drilling is proposed for the targets within the project areas for the remainder of 2013. An exploration and company-wide budget to carry out these programs is estimated at $2,500,000.

2. Introduction This report was prepared for the Company by Michael Hudson, a non-independent Qualified Person (as defined under NI 43-101) and the Chairman, President and Chief Executive Officer and a director of Mawson and a Fellow of the Australasian Institute of Mining and Metallurgy. The technical report documents the geology, mineralization and exploration activities conducted by the Issuer on the property during 2010 - 2013. The Issuer conducted all the work described within this report either through direct employees of the Issuer or by specialized contractors. Sources of information include maps and presentation material provided by AREVA; claim statistics and maps provided by the Finnish Ministry of Employment and Economy; topographic maps found online at the Citizen’s Map Site--National Land Survey of Finland; GTK, the Geological Survey of Finland website; two geological bulletins for map sheet 3612 (Rovaniemen) and map sheets 2631/2633 (Törmäsjärvi and Koivu); updated 1:25,000 scale regional geology map by GTK (2010); structural interpretation by independent consulting geologist; in-house digital compilation maps of Finland and project area presented in Mapinfo format and provided by the Issuer; in-house analytical databases, sampling protocols, press releases, up to August 21, 2013, and various Management Discussion and Analyses (MDA’s) by the Issuer. The Rompas property has been continually examined by the author since April 2010, with the last field made on July 29 to August 5, 2013. The effective date of this report is August 26, 2013. The effective date for technical data is August 26, 2013.

3. Reliance on Other Experts No sections of this report were drawn from the opinions of independent experts.

4. Property Description and Location On April 30, 2010, Mawson entered into an agreement with AREVA Finland whereby the Issuer acquired 100% of AREVA Finland’s mineral properties and exploration database in exchange for €1 million. AREVA subscribed, via a private placement, for 4,696,698 common shares of the Issuer at a price of $0.29 per share for a total purchase price of €1 million. Fifty percent of the shares from the private placement will remain in voluntary escrow until the final granting of certain claim applications. In addition, AREVA received 4,217,012 share purchase warrants, exercisable for 4 years after closing, to purchase an equivalent number of common shares of the Issuer for $1.00 per share. There exists no underlying royalties, back-in rights or other underlying agreements or encumbrances that this property may be subject to. The Rompas property consists of 108 granted claims at Rompas and 13 granted claims at Rumavuoma totaling 10,580 hectares and 1,292 hectares respectively (Table 1). The core claims at Rompas were granted on October 31, 2011 and came into legal force until on October 15, 2012. The Company has staked additional claim applications and reservations in the Rompas

8 area for a total landholding of approximately 87,480 hectares with potential for gold. Figure 2 shows the locations of the claims described above. Appendix 1 lists all of Mawson claims.

. Figure 1: Rompas Project Finland Index Map Date: 26 August 2013, Modified Public Domain Map, North Parallel to Longitude Lines to Top of Map Rompas is centered roughly at coordinates 3,403,100E by 7,375,550N of the Finnish national coordinate system (KKJ) (Figure 1) The Finnish national coordinate system, KKJ is derived from the Finnish national adjustment (1966) of the ED50 (European Datum 1950) coordinate system by shifting and rotating ED50 plane coordinates so, that they optimally fit to KKJ's predecessor VVJ, Helsinki System. KKJ- coordinates can be presented in geographical (latitude, longitude) or in rectangular grid- coordinates (northing, easting). The reference ellipsoid used with KKJ is International 1924 ellipsoid, also known as Hayford ellipsoid. Gauss-Krüger projection formula is used to convert

9 between KKJ-geographical and KKJ-grid-coordinates. KKJ-grid consists of six zones, each 3 degrees wide. Very often only zones 1-4 are represented because these zones almost cover entire Finland. This grid system, with six 3 degrees wide zones, is called 'Basic Coordinate System', in Finnish 'Peruskoordinaatisto'. Parameters for zone 3 are also used countrywide and is then called 'Uniform Coordinate System', in Finnish 'Yhtenäiskoordinaatisto' or YKJ. In topographic maps the Basic Coordinate Systems grid-lines are printed black and Uniform Coordinate Systems grid- lines are printed red. Table 1: Status of Mawson’s Claims in Finland.

No. of Claims No. of Reservations Area (ha) Status Rompas trend Rompas 108 - 10,580 Granted Claims Rompas 710 - 63,468 Applied Claims Rumavuoma 13 - 1,292 Granted Claims Mustavaara 1 12,140 Applied Reservation

Figure 2: Rompas Claims and Prospects Date: 26 August 2013, Author M.R Hudson, North to top of map Finland introduced a new Mining Act (“new Act”) in force from 1 July 2011. The Issuer’s claim applications were submitted under the previous Act; however, some sections of the new Act will apply. Under Finnish Mining Law, prospecting is considered part of the so-called “everyman's

right”, a Scandinavian tradition, giving public access to all land, public or private. Geological mapping, as well as limited sampling, and prospecting can be carried out everywhere, provided that no damage is done to the landowner's property or to the environment. The core claims at Rompas were granted on October 31, 2011 and came into legal force until on October 15, 2012. Under the new Act, an area not already reserved or with an ore prospecting permit or application, may be reserved for a period of up to 24 months. This reservation (“Varaus”) gives the reserving party priority to apply for an ore prospecting permit. Some exploration may be conducted on a reservation, if the landholder approves, if the work would not harm people’s health, other commercial activity or the environment, and exploration is not for uranium or thorium. Geological mapping, some types of sampling and prospecting can be carried out if these conditions are met. Minor sampling and non-disturbing exploration such as soil/till sampling by hand, induced polarization, ground magnetic and electromagnetic surveys are allowed whilst under application and without landholder approval. An ore prospecting permit allows the holder to conduct exploration. Ore prospecting fees are payable to the landholder, beginning at €20 per ha, per year, for the first four years, then rising. Collateral, determined on a case by case basis, to cover potential environmental damage is lodged with the Ministry. Permits are valid for 4 years, and may be extended for a maximum of three years at a time. In total, the permit may remain valid for a maximum of 15 years, if certain conditions are met. A mining concession is granted if a deposit is shown to be technically and economically exploitable. No special permits are required for surface exploration once the “claim reservation” has been accepted as an “ore prospecting permit.” The author is not aware of any environmental liabilities attached to this property. There is no record of any previous mining activity on the property. Finland has legislated the following acts and laws: Forest Act 1996 This act promotes utilization of the forestry areas for economic profit but at the same time maintaining the “biological diversity” in the area. Water Services Act 2001 This act aims to provide clean water to the citizens of Finland, in order to protect their health. Waste Act 2004 This act promotes the use of natural resources in a rational manner, in order to hazardous (sic) material from harming people as well as the environment. Waste Oil Charge Act The state will collect hazardous waste in order to cover expenses from waste oil management. Nature Conservation Act 1996 This act aims to maintain biological diversity, promote scientific research, and conserve the natural beauty of the area.

Parts of the Rompas area are subject to decrees which pre-date the Nature Conservation Act 1996 (with amendments). These are the Bog Protection Decree (933/1981) and the Grove Protection Decree (522/1992). Exploration is allowed in the areas of the decrees, with landholder permission. Natura 2000 Finland, as a member of the EU, supports the EEC ‘Habitats’ Directive 92/43/CEE. Article 6 of the Directive plays a crucial role in the management of the sites that make up the Natura 2000 network - a biodiversity program. Part of the property lies within a Natura 2000 area. The Natura 2000 network is in place to conserve important biotopes and species throughout Europe. The purpose of the Natura 2000 program is to preserve nature’s diversity. For the most part the areas Finland has suggested as Natura 2000 areas are protected areas, wilderness areas and areas taking part in nature conservation programs. The network also aims to protect the natural features which have not been conserved in the past. http://www.metsa.fi/sivustot/metsa/en/NaturalHeritage/ProtectedAreas/Natura2000Sites/Sivut/N atura2000AreasEstablishedtoProtectBiotopesandSpecies.aspx. For its granted claims at Rompas, the Company is entitled to 100% of the mineral rights over the entire claim with certain limitations on exploration methods that can be completed in Natura 2000 areas within the exploration claims, including no drilling or trenching due to the presence of specific flora. 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. Approximately 80% of Mawson’s highest priority targets at Rompas are within European Union defined biodiversity areas (Natura 2000) where the Company is not yet permitted to drill. Natura 2000 defined areas cover 30% of Northern Finland. These targets include the extensive disseminated style mineralization discovered in 2012 at Rajapalot. Mawson commissioned Golder Associates of Finland to complete a year-long Natura 2000 Assessment that mapped and reported in detail the floral distribution and natural habitat types of the area. The assessment also defines the impact that Mawson’s exploration work will have on the biodiversity values. The key consultant who performed all the mapping was one of the biologists who mapped the Rompas Natura 2000 area when it was defined in the late 1990s. He is widely considered as the biodiversity expert for the project area. The report stated that at this stage of exploration, a managed program will have no significant environmental effects on the area. The Company formally submitted the study to the competent authority, the Centre for Economic Development, Transport and the Environment in Lapland on 26th June, 2013. ELY have up to 6 months to comment on the report, and provide their feedback to the mining authorities (TUKES). TUKES are the ultimate decision-makers to modify Mawson’s claims to allow drilling in the Natura 2000 areas. The Company does not expect a decision before early 2014.

5. Accessibility, Climate, Local Resources, Infrastructure and Physiography The topography is a fairly gently rolling to almost flat, heavily glaciated and inundated with numerous post-glacial lakes, till, eskers, lacustrine and fluvial deposits. The mean elevation on the property is in the neighborhood of 100 m ASL according to the regional topographic map, and the ridge underlying the showings ranges between 100 m and 200 m ASL. Lodgepole pine, spruce and fir are common coniferous species. Low-lying shrubs are common; probably some species of blueberry or lingon berry, and sphagnum moss blankets the forest floor throughout. Alders and poplars were recognized as a common deciduous tree along waterways, and stands of white birches form groves randomly interspersed with the coniferous trees. Rompas is located about 45 km WSW of the city of Rovaniemi in southern Lapland, Finland. Access by road from Rovaniemi is via highway E75 (4) southwesterly for 24 km to the junction of highway 930, just past the town of Muurola. Heading westerly on highway 930 for about 28 km, the property is accessed via a secondary/tertiary gravel road that heads northerly from the village of Kaitajärvi. This is roughly the south-central boundary of the property which extends for several kilometers to the north-northwest; Rompas lies about 10 km south of the Arctic Circle. Alternately, the property is accessible by highways from either southern Finland or via Sweden; the Swedish border is only about 1 hour’s drive to the west. Rovaniemi is the largest city in Lapland with a population of 59,000. Several daily flights link the city with Helsinki, and train travel takes from 9 to 12 hours. The climate is classified as subarctic with an average temperature of +0.20C. Annual rainfall is 535 mm, and snow stays on the ground 183 days per year on average. The type of work performed on the property would be dictated by the seasons somewhat, but effectively, some kind of work could be done throughout the year. Skilled labour is readily available in Rovaniemi and surrounding communities. There is adequate raw material (water, gravel, timber) and infrastructure--forestry roads inundate the entire area. The smaller communities along highway 930 are serviced with electricity. As mining is an established and recognized industry in Finland, there would appear to be no hindrances to surface rights. The terrain is suitable for a mine/processing plant, dumps, tailings and storage facilities.

6. History During the 1950s the GTK performed some exploration for molybdenum and uranium SW from the general Rompas area, and additional exploration for copper and tungsten was performed in the northern part of the area during the 1970s. The Rautaruukki Company performed uranium exploration south of this area, resulting in the discovery of the Mustamaa uranium prospect, currently held under tenure by the Issuer, located about 15 km south of the Rumavuoma area (Vanhanen, 2010). It appears that the area was discovered by an airborne radiometric survey. Follow-up exploration was conducted by geologists who had previous GTK experience in the area. GTK had drilled a fence of stratigraphic holes to the south, along strike from the Rumavuoma claim. Radioactivity

was first discovered by GTK on what is now the Rumavuoma claims (southern spur of Rompas) in the early 2000’s. AREVA began reconnaissance exploration in June 2007, mostly ground radiometric surveys. They collected 32 rock/colluvium samples mostly from pits excavated in areas of strong scintillometer readings over a distance roughly 13 km NW-SE by 12 km E-W. Uranium values ranged from 12 ppm to 249,000 ppm (24.9%) and gold results ranged from 0.05 ppm to 12,800 ppm (>373 oz/ton). Of these 31 samples, 9 ran higher than 1,000 ppm (0.1%) U and 7 ran greater than 100 ppm (~3 oz/ton) Au. Further work was completed in 2008 with some follow-up work done in 2009. More than 150 new, separate occurrences of high uranium and extremely high gold contents were located in bedrock. At that time, however, AREVA decided to reduce activities in Finland and started negotiations with the Issuer. Between August and September 2009, the Issuer spent several days examining the mineralized zones discovered by AREVA and took several check samples from their pits and from a few other sites. A total of twenty-one samples were collected by the Issuer from the northwestern showings on the Rompas/Rumavuoma claims during this time. The Issuer’s samples were analyzed for multi-elements in addition to specific techniques for Au and U. Uranium values ranged from 2 ppm to 435,000 ppm (43.5%), averaging 36,088 ppm (3.6%) and six of the samples were in the percentage range. Similarly, gold values ranged from trace levels to 1,830 ppm ( g/t), or just over 53 oz/ton, and averaged 224 g/t (6.5 oz/ton). Of the 32 samples AREVA collected, 20 came from these northwestern showings. These 20 samples yielded uranium levels from 13 ppm to 249,000 ppm (24.9%), averaging 27,292 ppm (2.7%), and gold values ranged from 0.1 g/t to 12,800 g/t (373.3 oz/ton), averaging 1,146 g/t (33.4 oz/ton). Rompas was a new discovery made by AREVA; there is no evidence of prior exploration, development or production.

7. Geological Setting and Mineralization a) Regional Geological Setting The Baltic Shield is characterized as the Precambrian part of Fennoscandia; it covers Norway, Sweden, Finland and the western parts of Russia. Estonia, Latvia, Lithuania and parts of Poland and Norway are covered with Phanerozoic rocks. The Baltic Shield was created by the accretion of different micro-continents onto the Achaean core of Fennoscandia during the late Achaean and early Proterozoic. The age of the Baltic Shield decreases from the northeast to the southwest. The Achaean Domain is located in the northeastern part of the Baltic Shield and comprises the Kola, Belomorian and Karelian Provinces, separated by early Proterozoic thrust faults. The oldest preserved rocks on the Baltic Shield, which can be found in the Karelian Province, have been referred to the Saamian Orogeny between 3.1 and 2.9 Ga. In the southwestern part of the Karelian Province Saamian rocks mainly consist of granitoids with a tonalite-trondhjemite- granodiorite composition and intermediary granulite belts. Gaál & Gorbatschev (1987) assumed that these granitoids can also be found within the basement of the other provinces. The eastern part of the Karelian Province consists of numerous greenstone belts, formed during the Lopian Orogeny. They contain a substantial amount of komatiites and are intruded by Lopian granitoids http://geoguide.geoversum.info/?page=geology2.

Rompas is situated within the Karelian Province of the Achaean Domain (craton). The general area was mapped at 1:400,000 scale in the early 1900s. A review of the bulletin showed that the accompanying geology maps were compiled as one 1:1,600,000 scale map, and this map is quite outdated. The Geological Survey of Finland (GTK) conducted geological mapping in the Törmäsjärvi map-sheet area (2631) between 1973 and 1978, and in the Koivu map-sheet area (2633) between 1978 and 1983. Some local revisions have been made later. A national geological map was compiled by GTK at 1:1,000,000 scale and released in 1997. The entire area of the Koivu map-sheet and most of the Törmäsjärvi map-sheet area are composed of rocks of the Paleoproterozoic Peräpohja schist belt (PSB). The bedrock of the northwestern part of the Törmäsjärvi map-sheet belongs to the Central Lapland Granitoid Complex (CLGC). The few outcrops in the zone between the PSB and CLGC consist of sheared, brecciated, and mylonitic rocks belonging to the Mellajoki Suite (MS); a large fault separates the PSB to the southeast from the MS and CLGC to the northwest. The stratigraphy of the PSB was first published by Perttunen (1991) who divided the belt into eight formations that unconformably overlie the Achaean Pudasjärvi complex. The stratigraphy was re-interpreted by Perttunen and Hanski (2003), who divided the supracrustal rocks of the belt into two major groups: Kivalo and Paakkola. The current stratigraphic interpretation by Hanski, et al (2005) has expanded the number of formations from eight to thirteen (Lauri, 2011). The Peräpohja Schist Belt (PSB), located in the Northern Finland comprises a sequence of Paleoproterozoic supracrustal rocks unconformably deposited on the Achaean Pudasjärvi complex, which lies on the southern side of the PSB. In the north the PSB is bordered by the Paleoproterozoic Central Lapland Granitoid Complex (CLGC). The western margin of the PSB is defined by the Tornionjoki River, on the western side of which no supracrustal rocks comparable to the PSB are found. Supracrustal rocks consist of quartzites, mafic volcanics and volcaniclastics, carbonate rocks, black shales, mica schists and greywackes. Basement for the PSB consists of Achaean granitoids, remnants of the greenstone belts and Paleoproterozoic layered intrusions. Maximum deposition age for the PSB has been constrained by the 2.44 Ga mafic layered intrusions, which were partly eroded when the oldest sediments started to accumulate. A minimum age of 1.88 Ga has been interpreted from the Haparanda series synorogenic monzonite intrusions that cut the youngest sediments in the PSB (Perttunen & Vaasjoki, 2001). The rocks of the PSB have undergone polyphase deformation. They are metamorphosed under greenschist facies in the southern parts of the belt. The metamorphic grade is higher in the northern and eastern parts, where amphibolite facies conditions prevail. In the northeastern margin the rocks of the PSB are locally migmatized (Hanski et al., 2005), whereas based on our observations in the field the northern margin of the belt is most probably defined by a fault that separates the non-migmatitic rocks of the PSB from migmatitic rocks of the CLGC. Table 2 lists these groups, formations and relevant ages, where known. The lower Kivalo Group consists of quartzite and dolomite formations intercalated with mafic lavas and tuffs. Quartzite prevails in the rocks of the Sompujärvi, Palokivalo, Santalampi, and Kvartsimaa Formations, while the Poikkimaa and Rantamaa Formations are mainly dolomitic. The volcanic formations contain mafic lava (the Runkaus and Jouttiaapa Formations) or mafic tuffite (the Tikanmaa, Hirsimaa, and Lamulehto Formations). The rocks in the outcrops of the Santalampi Formation are pyroclastic, but many apparently local boulders exhibit distinct pillow structures.

The overlying rocks of the upper Paakkola Group consist of turbiditic greywackes and mafic pillow lavas. The formations separating the upper and lower groups are marked by black schists with anomalous uranium and copper contents (Perttunen, 2007). The most extensive unit of the Paakkola Group is the Martimo Formation. Mica schists and black schists characterize that formation. The mostly volcanic Väystäjä Formation is stratigraphically highest in the Törmäsjärvi map-sheet area. (Perttunen & Hanski, 2003). Table 2: Lithostratigraphy of the Peräpohja Belt (Prave, 2013)

The supracrustal rocks are cut by diabase sills and dykes (2.2 and 2.1 Ga) as well as felsic plutons (1.88 - 1.90 Ga), which are comprised mainly of granodioritic, and in lesser amounts, syenitic rocks. The felsic intrusives indicate that all of the lower part of the Lapland Triangle, or PS, are older than 1.9 Ga. Correspondingly, the sedimentation and volcanism of the lower part of the PS took place between 2.44 and 2.1 Ga, as manifested by the ages of the layered intrusions and mafic dykes (Vanhanen, 2010). The bulk of the Rompas claims underlie sheets 2632 and 2634 which were not mapped in detail by the Geological Survey of Finland (GTK). A correlation between the 1:1,000,000 scale map with the more detailed geology to the south suggests that the western part of the claims are underlain by quartzites of the Mellajoki Suite, part of the CLGC. They are described as medium to coarse-grained and white or grey, schistose and often tightly folded. Adjacent to the quartzite to the east and straddling the central part of the claims is a unit described as “carbonate and calc-silicate rocks, black schists and metavolcanic” rocks on the 1:1,000,000 scale map. Mica schist, black schist, conglomerate and arkosite occur central to this unit, but lie mostly north and south of the property. Both of these units are collectively mapped on the 1:100,000 scale maps as part of the Martimo Formation belonging to the Paakola Group. The Martimo is described as a mica schist containing intercalations of graphite- and pyrite- bearing phases (suggested by airborne electromagnetic data). No mention of calcsilicates,

metavolcanics or BIF’s is made in the publication by Perttunen & Hanski, 2003. Their mapping on sheet 2631 shows a section of the Väystäjä Formation occurring southwest of the property and selvaged between the CL to the northwest and the PS to the southeast. The Väystäjä Formation is described as pillowed tholeiitic basalts with minor tuffites, some dolomite and mica schists plus a felsic volcanic rock among the mafic volcanics. The author is suggesting that the unit described as containing “metavolcanics” in the 1,000,000 scale map might be correlative with the Väystäjä Formation. Along the eastern side of the Rompas claims the calc-silicate/metavolcanic unit is in contact with mafic and felsic metavolcanics to the south. Further south these metavolcanics join with the Jouttiaapa Formation on map grid 2633. This formation is described as dominantly amygdaloidal basalts containing quartz, chlorite, epidote and calcite amygdales. Individual flows range from 0.5 m to 20 m in thickness and are estimated in number somewhere between one and two dozen. Very minor amounts of quartzitic sediments have been noted between individual flows. Internally the flows are fairly massive and medium to coarse grained, while the flow tops are amygdaloidal. Metamorphic minerals include actinolite, albite, epidote and chlorite. Sandwiched between the Runkaus Formation to the east and the Martimo Formation to the west is a narrow section mapped as Kvartsimaa Formation on sheet 2633; the southernmost part of the Rompas claims overlies this area. The formation is described by Perttunen & Hanski as typically a light pink or white orthoquartzite including sericite, tourmaline and rounded zircon grains. The texture is mostly granoblastic without signs of original clastic textures. Thin intercalations of siltstone and dolostone occur locally.

b) Rompas Area Geology The Rompas prospect area is dominated by a north-trending ridge comprising metabasalt, inferred volcaniclastics, carbonate-rich rocks and black graphitic metapelites (Figure 3). On the ridge crest these rocks either crop out, or are covered by a thin glacial till cover (generally less than 1 m). Either side of the ridge, small lakes, peat bogs and thicker till are abundant with isolated bedrock outcrops. However, mineralization is known to continue under the deeper till cover. The calc-silicate vein-style mineralization at Rompas is nearly all hosted by a metabasalt. Regional folds, inferred to be related to D2 and D3 deformational events, dominate the Rompas area geology. The D1 event in the Rompas area is difficult to identify, but regional work suggests it is now present as transposed isoclinal folds with a high temperature foliation parallel or sub-parallel to the D2 foliation. D2 formed upright N-striking tight to isoclinal folds at Rompas that are in turn folded about upright open to tight E-trending D3 folds. Of significance at Rompas is that the D2 foliation is quite variable in intensity, with an increase towards South Rompas to such an extent that any original basaltic rock textures are destroyed.

OVER PAGE

Figure 3: Rompas Geology and Structure Date: 26 August 2013, Author L. Dahlenborg, North to top of map

3,395,000 mE 3,400,000 mE 3,405,000 mE 3,410,000 mE 7,380,000 mN

ROMPAS TREND 7,375,000 mN 7,370,000 mN

Mica Schist (magnetic and non magnetic) Non/weakly magnetic granitoid

Amphibolite Pyroxenite to meta-komatite Magnetic metasediment (mixed Po -bearing BSH, calc-silicate, quartz) Garnet-mica schist Ma c meta-volcanic (intrudes A + B of Rompas) Strongly magnetic granitoid 7,365,000 mN Calcsilicate (including mapped skarn rocks) Tremolite-quartz +/- mica schist Quartzite +/- calcsilicate + mica schist Albite Breccia bodies MAWSON RESOURCES LTD (including altered quartzite) (structurally hosted) Ma c dykes (magnetic and ROMPAS PROJECT FINLAND non-magnetic) Felsic meta-volcanic GEOLOGY AND STRUCTURE F1 folds Geology compiled by L. Dahlenborg Magnetic highs after L. Lauri, (2010) and L.Rankin (2010) F2 folds SCALE: F3 folds Granted Claims see grid

0 1000 2000 Finnish KKJ Zone 3 meters

Amphibolite facies metamorphism has accompanied the development of the S2 foliation with biotite and amphibole (largely hornblende) defining the fabric. Biotite is an important part of the most foliated metabasalts, providing evidence of early potassic alteration.

Within the metabasalts, variably oriented large amphibole grains up to 8 mm long grow across the S2 foliation throughout the North and South Rompas prospect areas. These may be in the cummingtonite or anthophyllite amphibole groups, in addition to ‘more normal’ hornblende compositions. Indeed, some samples are found to contain hornblende, cummingtonite and anthophyllite. Comparison of the geochemical composition of the Rompas metabasalts with other mafic rocks within the PSB by Mustonen (2012) reveals a geochemical similarity with the Runkaus Formation, the oldest basalt within the Peräpohja stratigraphy. U-Pb dating of secondary titanite from the Runkaus gives a minimum age of approximately 2.25 Ga (Huhma et al., 1990) implying a similar minimum age of the Rompas basalts. Near Rompas, zircons have been separated from rocks mapped as the Martimo Formation, a graphitic schist inferred to occur within the Paakkola Group. The dilemma at Rompas is that no unconformity has yet been recognized in the sequence and that the metamorphic age based on uraninite textures apparently synchronous with metamorphism (see below) is less than the maximum age of the Martimo Fm. The Martimo Formation appears to have enjoyed the same metamorphic history as the metabasalts. At the time of writing, this dilemma remains unsolved.

c) Mineralization The Rompas-Rajapalot project is a new discovery in Northern Finland where high-grade gold and uranium have been found within an area approaching 10km by 10km. Gold and uranium distribution within the initial discovery area at Rompas is nuggety. Thin and very high-grade drill intercepts are common, matching the many hundred surface trench exposures of significant grades found over the 6 kilometre trend. What is clear from the drilling and trenching at North and South Rompas is the strong host rock control on mineralization – a distinctive metabasalt (Figure 4). Uraninite and gold are found within or marginal to carbonate- calcsilicate-quartz veins in metabasaltic host rocks. Vein densities in the adjacent metasedimentary rocks are similar to the metabasalt, but to date lack any significant Au or U intersections. Thus, wallrock interaction with the basalt is inferred to be the key control on gold and uraninite formation, although the actual mechanisms remain the subject of much debate. The gold itself is of high fineness (>95% Au), with minor Te, Ag and Cu recorded (Nancy/CEGRU research work). Drilling up to 100 metres depth has not revealed any variation in fineness. Petrographic examination by a number of workers agrees that the gold is paragenetically later than the uraninite, commonly occupying cracks within uraninite. Sulphide minerals are not commonly directly associated with gold and uraninite. Fine pyrrhotite is a ubiquitous trace component of the metabasalt, resulting in a stronger IP chargeability response than the adjacent rocks. Trace gold with fine molybdenite has also been observed within the ROM0011 intersection (pers. comm. Molnar and others, GTK).

Figure 4: Rompas Rajapalot Prospect -Basaltic Host Rocks Date: 26 August 2013, Author M.R. Hudson, North to top of map Uraninite is the predominant uranium-bearing mineral, with two varieties observed in petrographic work by Nancy/CEGRU researchers. Paragenetically late gummite is locally present in surface samples occurring between uraninite grains. Radiogenic galena is also observed associated with the uraninite. Due to the recent discovery history at Rajapalot (Figure 5), much less information has been collected. However, the mineralization differs in that is more sulphidic with strong potassic alteration and is predominantly of a disseminated, replacement style. Four prospect areas have been defined within topographic highs within a predominantly swampy area. These areas are the Hirvimaa, Palokas, Joki and Rumajärvi prospects and located within a 2 km by 2 km area, within the hinge of a complex fold structure within the contact zone between quartzitic and basaltic rocks which are geochemically distinct from the Rompas area. The style of mineralization in the Hirvimaa and Joki areas is similar to Rompas and consists of calc-silicate veins in albitized quartzites and basalts, with more pyrite and magnetite than observed in Rompas. Mineralization at Palokas and Rumajärvi appears to be a new style and consists of highly altered quartzites with albite, carbonate, amphibole, sericite and biotite with disseminated and stockworks of pyrite. Gold mineralization appears to be disseminated, replacement style, within the host rock, with no obvious associated calc-silicate veining.

OVER PAGE Figure 5: Rajapalot Overview Map with LIDAR Date: 26 August 2013, Author M.R. Hudson, North to top of map

Hirvimaa

Palokas

Joki

Rumajärvi

5˚W 0˚ 5˚E 10˚E 15˚E 20˚E 25˚E 30˚E 35˚E 40˚E 45˚E

70˚N Outcrop Rock Samples (Gold g/t) Barents Sea 45˚E 70˚N

5˚W

>1000 Kola Pen. 0 75 150 300 Norwegian Sea 100 to 1,000

White Sea 40˚E Drill Collar and Trace 10 to 100 Rajapolot 65˚N metres 65˚N Gulf of Prospect Areas 1 to 10 Projection Finnish KKK Zone 3 Bothnia SWEDEN

FINLAND <1 0˚

Natura Boundary 60˚N Boulder Grab Samples (Gold g/t) NORWAY 60˚N

35˚E >1000 0 500 Miles ESTONIA 0.24 31.0 Gold (g/t), U (ppm) 100 to 1,000 0 500 KM

North Sea LATVIA 10 to 100 DENMARK Baltic Sea 55˚N LITHUANIA Background: LIDAR data 55˚N 1 to 10

BELARUS POLAND <1 NETH. GERMANY 5˚E 10˚E 15˚E 20˚E 25˚E 30˚E

Figure 1: Grab Prospecting Results from Rajapalot April 2013 8. Deposit Types The mineralization at Rompas-Rajapalot comprises two different styles: firstly, a nuggety style where gold and uranium is found within quartz-carbonate-calc-silicate veins or their wallrocks in metabasaltic host rocks. Uranium is largely located in uraninite and gold is found both within cracks in uraninite and as free gold adjacent to uraninite, often associated with pyrobitumen. The second style of gold-uranium mineralization is of a more sulphidic, potassic and disseminated character hosted in metabasaltic and quartzitic rocks. The precipitation mechanism for both styles of mineralization and their relationship is still unclear and debate continues as to the exact genesis of this deposit. Elements of the Rompas mineralized trend, namely the metasomatic alteration, could just as easily have been caused by a hydrothermal event, but as yet, no direct evidence of an underlying, nearby, mineralizing intrusive has been discovered. Early evidence is just emerging suggests that organic matter also plays an important role in precipitating the high-grade gold-uranium Rompas-Rajapalot prospect in the Peräpohja Schist Belt. Due to the lack of detailed work that has been done on this relatively new discovery, little is understood about the nature of the mineralizing controls, as yet. In any event, it would appear that the target would be of a large, bulk-tonnage, fracture-controlled nature at Rajapalot and potentially economic high grade vein array at Rompas.

9. Exploration The initial discovery area, Rompas, is a hydrothermal vein style system defined over a 6.0 kilometres strike and 200-250 metres width. Exploration on the project started in May 2010. During that year, 80 channel samples averaged 0.59 metres @ 203.66 g/t gold and 0.86% uranium oxide and during 2011 the weighted average of all 74 channel intervals was 1.40 m @ 51.9 g/t gold and 0.13% uranium oxide. Unrepresentative grab sample results include values up to 33,200ppm gold and 56.6% uranium oxide at Rompas. As discussed further in Section 10, from mid-2011 to the end of the period Mawson has drilled 8,164 m in 90 holes at Rompas. This has comprised 2,462.8 m in 29 drill holes at North Rompas; 2,436.2 m in 29 drill holes in the northern block at South Rompas; 2,504.3 m in 24 holes within the southern block at South Rompas; and 761.5 m in 8 drill holes at Northern Rajapalot. In August 2012, results from the first drill program at Rompas returned 6 metres at 617 g/t gold in drill hole ROM0011 including 1 metre at 3,540 g/t gold and 1 metre at 114.5 g/t gold in drill hole ROM0015. These results confirmed the significance of the hundreds of significant grade surface occurrences that were channel sampled during 2010 and 2011. A second drill program commenced in December 2012. At North Rompas the best results include 0.4 metres at 395 g/t gold and 0.41% U3O8 from 41.0 metres in drill hole ROM0052, the most southerly drill hole of the program; and 1.1 metres at 9.8 g/t gold and 0.16% U3O8 from 78.5 metres in drill hole ROM0053. In September 2012, Mawson announced a new discovery at the Rajapalot area located 8 kilometres to the east of the Rompas trend. The style of mineralization at Rajapalot is predominately sulphidic and of a disseminated or replacement style, which differs from the vein style observed at Rompas. Highlights from this work include prospecting grab samples taken from outcrop that returned 2,817 g/t gold, 2,196 g/t gold, 1,245 g/t gold, 933 g/t gold, 151 g/t

22 gold and 135.5 g/t gold. A total of 52 grab samples from the Rajapalot prospect to date average 152.8 g/t gold and range from 0.001 g/t to 2,817 g/t gold. Discovery grab samples from the Rajapalot project have returned gold mineralization from three distinct areas, namely the Palokas, Joki and Rumajärvi prospects. The areas were targeted with regional geophysics and surface soil geochemistry. Rumajärvi lies 1.5 kilometres south of Palokas, while Joki is located 1 kilometre southeast of Palokas. Each prospect area is characterized by minor outcrop on a topographic high, within a predominantly swampy terrain and therefore very little in situ bedrock has been located. Little outcrop has been found between the prospect areas. As the same mineralized rock types occur in outcrop, the glacial boulders sampled and reported here are considered to be proximal to their source. All samples are prospecting grab samples. These are selective by nature and are unlikely to represent average grades on the property The extensive data collected from Rompas during the last 3 field seasons has provided an excellent understanding of the exploration potential. Mawson has collected a total of 2,808 surficial soil and till samples over an area exceeding 55 km by 30 km. Sample spacing has ranged from 1 km to 250 m (Figure 6). Known gold mineralization correlates well with surficial soil anomalies and many untested surface targets remain over a larger area.

Figure 6: Rompas A Horizon Geochemistry and Prospects Date: 26 August 2013, Author M.R. Hudson, North to top of map

Surface prospecting, using radiometric methods as a pathfinder for gold, have defined high-grade gold mineralization over a 100 km2 area, where less than 5% of rock outcrops. Mawson’s geochemical rock chip, grab and channel sample database over this large area now contains 1,171 samples which average 212 g/t gold and 0.8% U3O8. Of the 1,171 samples, 84 samples assay more than 100 g/t gold. Gold values range from 33,320 g/t gold to <0.001 g/t gold and U3O8 values from 49.5% to <4 ppm. Channel samples are considered representative of the in- situ mineralization sampled, while grab samples are selective by nature and are unlikely to represent average grades on the property. The completion of a LIDAR airborne survey at the end of 2012 gave Mawson’s field geologists the ability to prospect and map Rompas much more rapidly and effectively. With this new technology, outcrops that previously took weeks to locate and then map in 2011 and 2012, can now be identified and mapped in days. Other sampling programs include a heavy mineral orientation program at South and North Rompas (Figure 7).

Figure 7: Rompas Heavy Mineral Sampling Date: 26 August 2013, Author M.R. Hudson, North to top of map Five non-selective, 5 litre heavy mineral samples were collected, with one from South Rompas returning one of the largest accumulations of gold nuggets ever identified within a heavy mineral

sample from the Fennoscandian Shield. This sample contained 5,000 gold nuggets, with 40-50 gold grains in the 0.5-2 mm fraction. Other samples included one sample up-ice direction with 18 nuggets, 100 m north-west of the last outcrop in North Rompas (Figure 7). The three other samples contained 100, 1,000 and 100 nuggets respectively. Eighty additional regional heavy mineral samples have been collected and will be processed to further test this as a suitable method for locating further blind gold mineralization. All the geochemical programs in combination with other datasets suggests Rompas is shaping up at all scales with 58 gold anomalous target areas from surficial sampling and prospecting identified within the broad Rompas area for follow up during the 2013 field season. Since acquiring the project in April 2010, the Issuer has collected 80 channel samples that averaged 0.59 metres @ 203.66 g/t gold and 0.86% uranium oxide in 2010. During 2011 the weighted average of all 74 channel intervals was 1.40 m @ 51.9 g/t gold and 0.13% uranium oxide. Unrepresentative grab sample results include values up to 33,200ppm gold and 56.6% uranium oxide at Rompas. Mawson has collected a total of 2,808 surficial soil and till samples over an area exceeding 55 km by 30 km. Sample spacing has ranged from 1 km to 250 m. Mawson’s geochemical rock chip, grab and channel sample database over this large area now contains 1,171 samples which average 212 g/t gold and 0.8% U3O8. Of the 1,171 samples, 84 samples assay more than 100 g/t gold. Gold values range from 33,320 g/t gold to <0.001 g/t gold and U3O8 values from 49.5% to <4 ppm. Channel samples are considered representative of the in-situ mineralization sampled, while grab samples are selective by nature and are unlikely to represent average grades on the property. Geophysical surveys conducted at Rompas include:  A 3,279 line-km airborne radiometric-magnetic survey was in 2010;  A 28 line-km gradient IP and a 5 line-km dipole-dipole IP survey were completed in 2011;  In 2012, Mawson completed 62 line kilometres of gradient array induced polarization geophysical surveying;  A 48.3 km of magnetic and 35.3 km of electromagnetic (“EM – Slingram”) ground-based geophysical surveys at Rajapalot (Figure 8);  A 827 line-km helicopter-borne VTEM Plus electromagnetic, magnetics and radiometric geophysical survey over the Rajapalot area in 2013 (results pending);  A small Mise-La-Masse electric survey at South Rompas in 2013;  A small radiometric probe survey at North Rompas;  A 40m spaced 6 kilometre gravity traverse across the Rompas trend in 2013 (results pending).

Figure 8: Rajapalot Airborne and Surface Slingram EM. Ground-based Slingram Inset. Both images show the real component. Date: 26 August 2013, Author M.R. Hudson, North to top of map a) Exploration Chronology: 2010 Work Program On October 12, 2010, Mawson announced the first results from the summer exploration program. Two hundred and eighty-three rock chips were sampled within the mineralized trend. Of these, a total of 44 grab samples were taken from, or marginal to, mineralized structures as defined by ground spectrometer surveying. The 44 mineralized grab samples averaged 67.7 g/t Au, 0.42% U and ranged from 0.1 g/t to 1,415 g/t Au and 0.31 ppm to 10.5% U.

Mapping and sampling extended the known mineralized trend by 100 m south and by up to 200 m in width. Their sampling has, in places, confirmed the tenor and grade of the high grade gold and uranium mineralization from earlier work at the Rompas discovery. At the time of the announcement by the Issuer, more than 2,500 surface rockchips, glacial till, weathered bedrock and organic samples had been collected. The grab samples were taken from mineralized structures, including shears, jogs and boudins that generally averaged 10-30 cm in width and were excavated below 10-30 cm soil cover. In places a number of structures appear to be en echelon within the overall mineralized envelope. The Issuer discovered more than 100 new visible gold and high grade uranium surface showings. Much of the area occurs below soil cover which is too thick for the discovery of near-surface radiometric occurrences (Hudson, 2010).

The Issuer has noted a strong correlation between gold grades greater than 1 g/t and uranium greater than 40 ppm. The current grab sample results were taken from, or marginal to, mineralized structures as defined by ground spectrometer surveying. A channel sampling program, employing a motorized diamond saw, was on-going at the time of this release; result from this sampling were pending. In addition, initial analytical data from soil sampling suggests a good correlation with the identified 6.5 km by 200 m mineralized footprint.

Lithological, alteration and geomorphological mapping was conducted over the main mineralized trend. The Issuer contracted a specialist structural geologist both in 2010 and 2011. Findings to date indicate that the mineralization appears to be hydrothermal in nature and fracture-controlled, hosted mainly by metavolcanics which may in part be skarnified and/or hornfelsed. Uranium is found in the form of uraninite. Native gold and uraninite are generally identified at surface in limonitic fractures within metavolcanic host rocks.

On September 30, 2010 the Company announced Precision GeoSurveys Inc. had completed a radiometric-magnetic-VLF geophysical heliborne survey at Rompas. The survey consisted of 3,279 line-km over an area 21 km by 8 km with lines spaced 50 m apart.

On November 19, 2010 the Issuer announced the first channel sample results from the Rompas gold-uranium project. Highlights from 39 surface channel samples included 0.3 m @ 1,866 g/t Au and 8.0% U; 0.26 m @ 1,510 g/t Au and 3.95% U. Included in this batch were 10 mineralized grab samples that averaged 672 g/t Au and 2.06% U that ranged from 0.2 g/t to 3,230 g/t Au and 14.6 ppm to >15% U. On December 15, 2010, Mawson announced results from the second batch of channel samples received from Rompas. Results included 49 diamond saw cut channels that are comprised of 448 individual samples. Highlights include 0.95 m @ 1,424 g/t Au and 1.3% U; 2.05 m @ 191.3 g/t Au and 0.44% U. The average width and weighted average of 49 of 71 channel samples assayed is 0.43 m @ 222.7 g/t Au and 0.6% U. Also included in this batch were 254 mineralized grab samples that averaged 406 g/t Au and 0.74% U that ranged from 0.001 g/t to 22,723 g/t Au and 0.1 ppm to >15% U. The channel samples were taken at Rompas South over a strike distance of 400 m by 100 m width and at Rompas North over 260 m strike by 120 m width. The distance between the most southerly and northerly channel sample was 5.4 km. Grab samples were taken over a strike of 1.9 km at Rompas South and 420 m in Rompas North. A total of 286 rock chip samples (including 47 highly radioactive samples) were pending at the time of this announcement (Hudson, 2010). The grab and channel samples were taken from mineralized structures as described previously. In places a number of structures appear to be en echelon within the overall mineralized envelope. The Issuer’s Management’s Discussion and Analysis (MDA) for the six months ended November 30, 2010 states that the weighted average of all 80 channels from the 2010 program is 0.59 m @ 203.66 g/t Au and 0.73% U within a sampling footprint of 6.0 km strike and 200-250 m width, and that more than 300 discovery sites have been identified within the mineralized footprint. On February 22, 2011, the Issuer released the third and final batch of channel samples received from the 2010 exploration program. The third batch of results included 31 diamond saw cut channels that comprised 268 individual samples. Highlights include 0.35 m @ 1,460 g/t Au and 1.4% U; 2.6 m @ 190.5 g/t Au and 0.25% U. Also included in this third batch of results were 64

mineralized grab samples that averaged 1,691.4 g/t Au and 6.5% U, ranging from <0.03 g/t to 12,410 g/t Au and 1.6 ppm to 47.9% U. b) Exploration Chronology: 2011 Work Program On March 15, 2011 the Issuer received permission from the relevant Finnish authorities to allow shallow (“till”) stratigraphic drilling at the Rompas gold project in Northern Finland. Drilling commenced in March 2011 and was completed in May 2011. A total 155.65 m were drilled in 28 holes located along two traverse lines located 100 m and 300 m to the north of the North Rompas mineralized zone. The stratigraphic drill program was designed to test for the presence of the host rock sequence undercover to the north of Rompas and not to drill beneath known mineralized zones. The program was successful in proving the altered host sequence continues at least 350 m undercover from the last mineralized site at North Rompas. Glacial cover averaged 3 m to 5 m over the area drilled while drill holes averaged 5.5 m depth. The results of this short program were released on June 30, 2011. On June 30, 2011, the Issuer released details of its summer work program completed to date; work commenced in late May 2011. Initial surface, radiometric spectrometer surveying successfully extended the known mineralized footprint approximately 50 m to the east and 100 m to the north of South Rompas. In addition, a new and continuous 10-15 m wide and 100 m long radiometric high has been discovered in the northwestern zone of North Rompas. Approximately 40 new mineralized sites have been discovered, stripped of moss and/or soil cover, and channel sampled. On October 31, 2011, the Issuer announced the first results of the 2011 summer field campaign. New channel sample results included the best surface trench sample discovered on the property to date: 1.40 m @ 2,529 g/t Au and 5.1% U3O8 at North Rompas. This discovery was made under soil cover, in a location that was not known to be mineralized prior to manual excavation of the trench. Additional high grade results include 1.13 m @ 343.6 g/t Au and 0.21% U3O8; 0.5 m @ 269.0 g/t Au and 0.99% U3O8. The weighted average of all 74 channel intervals from the 2011 program at Rompas that exceed the lower cut-off of 0.1 g/t Au, or 100 ppm U, over 1 m is 1.40 m @ 51.9 g/t Au and 0.13% U3O8. Lengths of the channeled intervals ranged from 0.2 m to 8.8 m, and the cumulative length of all channel samples above the lower cut-off of 0.1 g/t Au or 100 ppm U is 88.0 m (Lees, 2012). The reader is cautioned that this composite and cumulative estimate provided by the Issuer is for demonstration purposes--it is not meant to be representative of the average grade or width of the mineralization, either found so far or yet to be discovered. A new zone of mineralization was defined late in the field season at the southern extension of North Rompas under thin glacial till. Grab samples taken from three separate, one metre deep, hand dug pits. Due to the thicker till in the area, the Issuer was able to access the weathered bedrock zones at shallow depths, which were subsequently grab sampled. The grab samples returned 557 ppm Au and 0.8% U3O8, 147 ppm Au and 36.8% U3O8, 201 ppm Au and 0.1% U3O8 within a zone extending along strike over 30 m under thin cover. One additional grab sample, interpreted to be located 20 m to the north in a parallel structure, assayed 7,630 ppm Au and 22.4% U3O8. On February 6, 2012, the Issuer announced the final exploration results for the 2011 program. In the southern extension of North Rompas, continuity of lower grade mineralization has been

demonstrated over an area of 110 m strike by 90 m width. The extent of known mineralization is limited by thick soil cover where bedrock cannot be reached by radiometry or hand digging. The permitting status during the last two exploration seasons did not allow for mechanized trenching or deep drilling. The new zone is located 300 m south of the northern extension of North Rompas zone where continuity was previously established between mineralized zones. One grab sample at South Rompas, located 4.6 km to the south, returned 33,200 ppm Au and 56.6% U3O8, which to date represents the highest grade sample yet taken at Rompas. This sample was taken from a boudin in a vein that occurs within the known extent of mineralization. Grab samples are not considered representative as they are more of a “character” sample at a “point location” instead of a measure of grade over a width (2-dimensional). Chip samples, or even better, channel samples, particularly those pre-notched with a diamond saw, are far more reliable and representative. There is a high risk of nugget effect in the samples at Rompas, both for gold and uranium; this has been demonstrated in the extremely anomalous results obtained in some of their samples. The Issuer has been routinely reassaying high grade gold values as a quality assurance/quality control procedure.

c) Exploration Chronology: 2012 Work Program On February 06, 2012 Mawson announced a new zone of mineralization defined under thicker glacial soil with grab samples from individual one metre deep pits assaying 557ppm, 147ppm and 201ppm gold within a zone extending over a 30 metre strike. Continuity of lower grade gold and uranium mineralization was further established, highlighting mineralized trends. Also new geophysical survey demonstrated gold mineralization is hosted by a chargeable sequence which extends under cover away from known gold bearing areas. Further significant gold grades from grab samples were assayed up to 33,200ppm gold and 56.6% uranium oxide.

On May 31, 2012 Mawson announced maiden drill results from the Rompas gold project. Results from 14 holes from a planned 39 diamond drill hole program were made available. The best result returned was 6 metres at 617 g/t gold from 7 metres depth in drill hole ROM0011.

Key points of the release included:

* Highlight 6 metres at 617 g/t gold from 7 metres in drill hole ROM0011 which includes 1 metre at 3,540 g/t gold from 11 metres depth. This is the best result from surface sampling or drilling ever sampled at the Rompas property to date;

* Drill definition of a greater than 100m wide gold anomalous zone characterized by hydrothermal calc-silicate veining and alteration. Gold is associated with some calc-silicate veins;

* First drill testing of the Rompas project with a small percentage of the 6 kilometre long mineralized trend drill tested to date;

* Securing permits to test the best geological targets within the entire mineralized trend at

Rompas now becomes even more of a priority.

July 10, 2012 Mawson announced results from a further 9 drill holes from the Rompas gold project in Northern Finland. The highlight result was 1 metre at 114.5 g/t gold from 44 metres depth in drill hole ROM0015.

Phase 1 drilling was completed at Rompas for a total of 39 diamond holes for 4,178 metres. Drilling during this Phase 1 program has tested two small windows of the larger 6 kilometre mineralized strike at Rompas. Drilling in other areas awaits further permitting. Assay results reported on this date were from 9 drill holes: ROM0015, ROM0017, ROM0018 and ROM0022 from the northern block of South Rompas and ROM0023, ROM0026, ROM0027, ROM0029 and ROM0030 from the southern block of South Rompas. Results from a total of 24 from 39 drill holes have now been released.

The northern block corresponds to significant surface mineralization and has now been drill tested over a 160 metre strike. All 4 holes reported in this release from the northern block returned gold >0.5 g/t over one metre or better. In contrast, the southern block tested the southern extension of the interpreted mineralized trend under soil cover and has now been drill tested over 240 metres of strike. Holes reported from the southern block did not return mineralization above 0.5 g/t gold. Drilling was completed on 20 to 40 metres spaced sections with drill holes averaging 100 metre depth, with 1 to 4 holes drilled on each section. Holes were drilled at 45 degrees to the west and east.

This drill program has provided the first opportunity to sample continuously across the mineralized "footprint". Drilling has confirmed the width and scale of a >100 metre wide hydrothermal veined mineral system with a defined hanging wall and footwall. The zone is variably but consistently calc-silicate (actinolite/tremolite and calcite) veined with multiple zones up to 20m wide hosting 20% to 30% veining. Some veins host significant visible gold. Mineralized veins are texturally and compositionally similar to those that are not mineralized. The calc-silicate veins are thought to have formed during an early structural event and have been deformed by later geological events.

August 20, 2012 Mawson announced final results from 16 holes from the of 39 diamond holes for 4,187 m Phase 1 drilling program. New results released included 1 metre at 4.3 g/t gold from 17 metres depth and 1 metre at 3.2 g/t gold from 68 metres in drill hole ROM0037

Although the program only tested a small proportion of the 6 kilometre strike of mineralization down to an average depth of 50 metres, some spectacular drill discoveries were made. Drilling tested only two small windows, with drilling along the remainder of the trend awaiting further permitting. In total 39 holes for 4,187.8 metres were drilled at South Rompas in two small areas: the North (24.8 hectares) and South Blocks (18.9 hectares). The North Block corresponds to significant surface mineralization and was drill tested with 15 holes for 1,683.6 metres over a 160 metre strike. Ten holes drilled in the North Block returned gold of >0.5 g/t over one metre or better. Drilling in the South Block was of a lower priority, as it tested the southern extension of the interpreted mineralized trend under soil cover. Twenty-four holes for 2,504.3 metres were drilled over 240 metres of strike, two of which returned gold of >0.5 g/t over one metre or better.

A majority of drilling in the South Block was designed in an east-west traverse in order to understand the geology beneath glacial soils, and investigate nearby geophysical anomalies.

Compilation of drilling data has led to an improved understanding of the Rompas mineral system. Drilling confirmed the width and scale of a >100 metre wide hydrothermal veined mineral system with a defined hanging wall and footwall. The zone is variably but consistently calc-silicate (actinolite/tremolite and calcite) veined with multiple zones up to 20 metres wide hosting 20% to 30% veining. Some veins host significant gold with visible gold noted in 12 drill holes. Mineralized veins are similar in texture and composition to those that are not mineralized. Recent research has defined an altered mafic volcanic as host to mineralization and delineated a geochemical halo which has the capability to show the extent of the high grade gold envelope. Although significant gold grades may not be continuous at the scale of current drilling (20 to 40 metre spaced sections), this envelope enables better drill targeting at both prospect scale and within individual high grade structures.

In addition the Company updated the summer 2012 summer program where a 12 person team has been undertaking an active program at Rompas and surrounding areas. Work completed includes 62 line kilometres of geophysical surveying (gradient array induced polarization) over the Rompas trend; a 1,200 sample soil grid and rock chip program over the prospective sequence in the Rompas trend and regional prospecting.

As a result of the prospecting work, a new area of Rompas-style mineralization has been discovered at Rajapalot, 8 kilometres east of Rompas. Visible gold and uraninite has been found within carbonate veins within albitized basalt in 3 sites (2 boulders, one outcrop) over an 800 metre trend where 36 radioactive spots have been identified to date. All radioactive sites have been discovered under thin soil, and to date only a few of been exposed. This trend lies within a broader 5 kilometre long anomalous area where 96 radioactive sites have been located where the rocks contain uraninite within in albitized, sericitized, sulphide-bearing and variably amphibole altered quartzites. Reconnaissance grab sampling of some areas has been undertaken, work continues and results of sampling are awaited.

September 04, 2012 Mawson announced the first results from the Rajapalot gold discovery from an initial 18 grab sample exploration program located 8 kilometres to the east of the Rompas project in Northern Finland.

The samples taken from outcrop and boulders averaged 11.0 g/t gold and ranged from 0.001 g/t to 85 g/t gold within 3 separate prospect areas separated by many kilometres. Together with Rompas, the discovery provides further evidence for a large new gold camp in Finland. Although this initial sampling program was very limited, Rajapalot provides compelling evidence of a new gold project within the larger Rompas area, and is a great example of Finland's prospectivity.

31 and therefore very little in situ bedrock has been located. Little outcrop has been found between the prospect areas. As the same mineralized lithologies occur in outcrop, the glacial boulders sampled and reported here are considered to be proximal to their source.

October 17, 2012 Mawson announced that 110 granted exploration claims that cover a surface area of 10,580 hectares at Mawson's Rompas gold project in northern Finland have come into legal force following the completion of a standard appeal process.

October 29, 2012 Mawson announced significant gold grades at the Rajapalot prospect in Finland, returning up to 2,817 g/t gold from prospecting grab samples within 3 areas separated by many kilometres.

Highlights from this work include:

* Prospecting grab samples taken from outcrop returned 2,817 g/t gold, 2,196 g/t gold, 1,245 g/t gold, 933 g/t gold, 151 g/t gold and 135.5 g/t gold amongst 36 new grab samples;

* 52 samples from the Rajapalot prospect to date average 152.8 g/t gold and range from 0.001 g/t to 2,817 g/t gold;

The second round of prospecting results from Rajapalot demonstrate the scale, prospectivity and extremely high-grade nature of the Rompas-Rajapalot area. Nevertheless, of greater interest is the context of this new discovery with the larger Rompas-Rajapalot project area. At this very early stage of exploration, Mawson now has indications of a mineral system that has deposited high-grade gold within an area approaching 10km by 10km. This is very significant on a global scale.

The Company has prioritized prospecting within the Rajapalot area and many geochemical samples remain to be returned. Both airborne and ground geophysical surveys will be undertaken during Q1 2013 with the aim to firm up drill targets that can be tested during Q1/Q2 2013.

The style of mineralization at some of the new localities is sulphidic and of a disseminated or replacement style, which differs from the vein style observed at Rompas. All samples are prospecting grab samples. These are selective by nature and are unlikely to represent average grades on the property. d) Exploration Chronology: 2013 Work Program June 26, 2013. Mawson announced the Kaita discovery made within the first days of the 2013 field season after targeting gold-anomalous surface reconnaissance sampling and LIDAR (Laser Imaging Detection and Ranging) - identified topographic highs. To date, the discovery consists of 26 surface mineralized sites (11 with visible gold) within an area defined by 415 metres strike and 40 metres width. A majority of the area has not yet been surface prospected. Kaita is parallel to and located 900 metres south south-east of the South Rompas drill area and extends the Rompas vein trend to at least 6.5 kilometres. Channel sampling has already commenced at Kaita and assays are awaited.

Visible gold in the field has been observed in both uraninite and within carbonate. Biotite-rich alteration, of the same style as Rajapalot, has also been observed. Kaita is located outside the Natura 2000 biodiversity areas with large areas of thin till cover within the Company’s 100% owned exploration claims. The area has been confirmed by a biologist to contain low value (young) forest and no significant plant species. The Company has prioritized this area to map, prospect, channel sample and define drill targets over the coming months. May 21, 2013. Mawson announced results from a 48.3 km of magnetic and 35.3 km of electromagnetic (“EM”) ground-based geophysical surveys at Rajapalot. The most significant feature identified is a 300 m long by 30 m wide conductor under the widest zone of continuous gold mineralization found at Rompas to date at Palokas, where rock chip sampling across a strongly altered outcrop averaged 13.4 g/t gold and 226 ppm uranium over 9 m. In total at Palokas, 17 grab samples from a 170 m by 55 m area averaged 20.7 g/t gold with a maximum of 85.0 g/t gold and minimum of 0.0 g/t gold. The style of mineralization is sulphidic and of a disseminated or replacement style which is amenable to EM geophysics and differs from the low sulphide, vein style observed at original Rompas discovery area. A more widely spaced regional airborne electromagnetic survey flown over a broader area also shows a coincident conductor at Palokas and suggests this conductor continues to further mineralized areas over a strike of 2.5 km to the Rumajärvi prospect area where 32 grab samples over a 700 m by 250 m area averaged 85.6 g/t gold with a maximum of 1,380.0 g/t gold and minimum of 0.0 g/t gold. April 03, 2013. Mawson announced the second batch of drill results from the 2013 winter drilling program at the North Rompas, South Rompas and North Rajapalot prospects in Finland. Results from the remaining 29 holes of a 51 diamond drill hole program were reported. The best intersection returned is 0.5 metres at 148 g/t gold and 0.42% U3O8 from 16.5 metres depth in drill hole ROM0074 at South Rompas. Key points:

 Highlight results are 0.5 metres at 148 g/t gold and 0.42% U3O8 from 16.5 metres in drill hole ROM0074 and 1.4 metres at 17.6 g/t gold and 0.03% U3O8 from 5.8 metres in drill hole ROM0079 from South Rompas;  At South Rompas, drilling has clearly defined a gold-mineralized envelope;  At Rajapalot, drilling has intersected broad low-grade gold zone, 8 kilometres east of the Rompas trend;  In total 51 drill holes have been completed this winter at Rompas-Rajapalot, with 29 drill holes for 2,462 metres drilled at North Rompas; 14 holes for 753 metres at South Rompas and 8 holes for 762 metres at North Rajapalot.

Eight drill holes from North Rompas are reported, namely holes ROM0061 to ROM0068. Holes ROM0061 -- ROM0063 were drilled on wider cross sections at 100-200 metres spacing while holes ROM0064 to ROM0068 were drilled on 40-50 metre spaced crossed sections. Fourteen drill holes are reported from South Rompas, namely holes ROM0069 to ROM0082. These holes were drilled on 10-15 metre spaced crossed sections. Eight drill holes are reported from North Rajapalot, namely holes PAL001 to PAL007. Drilling at North Rajapalot encountered low grade mineralization, as evidenced in PAL0003 and PAL0003B which respectively intersected 2.5 metres at 0.3 g/t Au and 3.1 metres at 0.4 g/t Au.

Although sub-economic, this additional information will help understand the controls and distribution of gold mineralization in this virgin area, located 8 kilometers east of Rompas. At Rompas, the highest grade gold mineralization occurs in individual structures which may have a small horizontal footprint, perhaps less than the current drill spacing, within the much larger mineralized envelope. To date, drilling has not defined the scale, orientation or the continuity of the high grade gold within the broader mineralized envelope. The true thicknesses of the high grade structures remain unknown. However, down hole radiometric measurements are a good proxy for gold mineralization, and indicate that there are continuous zones of higher radioactivity with variable grades of gold mineralized structures, which now need to be tested via bulk sampling. February 28, 2013: Mawson announced maiden drill results from the winter 2013 drilling program at the North Rompas prospect in Northern Finland. Results from 20 holes from a 29 diamond drill hole program are presented here. The best intersection returned to date is 0.4 metres at 395 g/t gold and 0.41% U3O8 from 41.0 metres depth in drill hole ROM0052. Key points:

 Highlight results are 0.4 metres at 395 g/t gold and 0.41% U3O8 from 41.0 metres in drill hole ROM0052, the most southerly drill hole of the program; and 1.1 metres at 9.8 g/t gold and 0.16% U3O8 from 78.5 metres in drill hole ROM0053;  Program is the first drill test of the North Rompas prospect area;  Early days with only 120 metres of strike tested down to an average of 60 metres vertically over the 1 kilometre metre strike of known surface geochemical anomalism at North Rompas;  Mineralization intersected at North Rompas is of similar style to that drilled five kilometres south at South Rompas, characterised by hydrothermal calc-silicate veining and alteration. Gold is associated with some calc-silicate veins and appears to have a nuggety distribution. Gold is restricted to a basaltic host rock;  New style of uranium-only mineralization discovered, as evidenced in ROM0047 where 4.2 metres for 306 ppm U3O8 was drilled;  In total 51 drill holes have been completed this winter at Rompas-Rajapalot, with 29 drill holes for 2462.8 metres drilled at North Rompas; 14 holes for 752.6 metres at South Rompas and 8 holes for 761.5 metres at North Palokas. Geochemical results for 30 drill holes awaited;  Securing permits to test the best geological targets within the entire mineralized trend at Rompas-Rajapalot remains a priority.

Twenty-one drill holes are reported from North Rompas in this release, namely holes ROM0040 to ROM0060. Holes ROM0040 to ROM0057 were drilled in a 120 metre long by 85 metre wide zone down to, on average, 60 metres vertical depth on 20-25 m spaced crossed sections. Holes ROM0058 - ROM0060 were drilled on wider cross section 60 metres to the north (ROM0059 was abandoned due to drilling complications). The aim of the program was to understand the distribution of gold relative to the surface trench sampling. The distribution of gold is similar to that seen at South Rompas and appears nuggety in its distribution. Visible gold was noted 6 times while visible uraninite was noted nine times in the reported holes. Eight holes remain to be reported from North Rompas and uraninite has been noted at four locations within these holes. Drilling at North Rompas also encountered a new style of uranium-only mineralization, as

34 evidenced in ROM0047 where 4.2 metres for 306 ppm U3O8 was drilled with no evidence for gold mineralization. Although sub-economic, this additional information will help understand the controls and distribution of gold and uranium mineralization, and the association of uranium as a pathfinder for gold. The nature of high grade gold mineralization means that individual structures may have a small horizontal footprint, perhaps less than the current drill spacing, within the much larger mineralized envelope. To date, drilling has not defined the scale, orientation nor continuity of the high grade structures and true thickness is unknown, although gold mineralization is restricted to a basaltic host rock. This drill program has provided the first opportunity to sample continuously across the mineralized “footprint” at North Rompas. Drilling has confirmed the width and scale of an 80 metre wide hydrothermal veined mineral system with a defined hanging wall and footwall. The zone is variably but consistently calc-silicate (actinolite/tremolite and calcite) veined with multiple zones up to 10-20m wide hosting up to 30% veining. Mineralized veins are texturally and compositionally similar to those that are not mineralized. As drilling progress has been fast, winter drilling has been halted until the Company is able to review all results. In total 51 drill holes have been completed, with 29 drill holes for 2462.8 metres drilled at North Rompas; 14 holes for 752.6 metres were drilled at South Rompas to test previous high grade drill results; and 8 holes for 761.5 metres were drilled at North Palokas to test blind geophysical anomalies adjacent to the Hirvimaa prospect. Geochemical results are awaited from the remaining 30 drill holes. January 14, 2013: Mawson announced they had discovered further gold mineralization at the Rajapalot project in Northern Finland with grab samples returning up to 1,520 g/t gold. Mineralization has now been discovered within an area of 4 square kilometres at Rajapalot, which lies 8 kilometres east of the initial Rompas gold discovery. Highlights from the new results include:  Discovery of new prospect area, Hirvimaa, located 1 kilometre north of previously known mineralization, where 17 surface grab samples returned up to 1,520 g/t gold (minimum 0.0 g/t gold) and 17,300 ppm uranium (minimum 0.1 ppm uranium) and averaged 55.5 g/t gold and 2,246 ppm uranium.  Rock chip sampling across a strongly altered outcrop at the Palokas prospect averaged 13.4 g/t gold and 226 ppm uranium over 9 metres. Mineralization is sampled to the overburden contact in both directions. This is the widest zone of continuous gold mineralization found at Rompas-Rajapalot to date. Additionally, the style of mineralization is more sulphidic and of a disseminated or replacement style, which differs from the vein style observed at Rompas. A 1.4 kilometre by 1 kilometre ground based electromagnetic and magnetic geophysical survey is currently underway to test this area and determine extensions of this zone undercover.  Results from limited channel sampling at Hirvimaa returned up to 2.0m at 21.5 g/t gold and 44 ppm uranium.  In total, 80 grab samples from the Rajapalot prospect to date average 152.0 g/t gold and 3,248 ppm uranium and range from 0.001 g/t to 2,817 g/t gold and 0.1 to 81,900 ppm uranium.

10. Drilling From mid-2011 to the end of the period Mawson has drilled 8,164 m in 90 diamond drill holes at Rompas. This has comprised 2,462.8 m in 29 drill holes at North Rompas; 2,436.2 m in 29 drill holes in the northern block at South Rompas; 2,504.3 m in 24 holes within the southern block at South Rompas; and 761.5 m in 8 drill holes at Northern Rajapalot (Figures 9, 10 and 11; Appendix 2). In early 2011 Mawson conducted one small shallow (“till”) stratigraphic drill program. A total 155.65 m were drilled in 28 holes located along two traverse lines located 100 m and 300 m to the north of the North Rompas mineralized zone (Appendix 2). The stratigraphic drill program was designed to test for the presence of the host rock sequence undercover to the north of Rompas and not to drill beneath known mineralized zones. The program was successful in proving the altered host sequence continues at least 350 m undercover from the last mineralized site at North Rompas. Glacial cover averaged 3 m to 5 m over the area drilled while drill holes averaged 5.5 m depth. To date from the deeper diamond drilling, the most encouragement has come from the northern block of South Rompas (Figure 12 and 13), with both prospect scale shallow drilling and trenching defining a coherent mineralized sequence. South Rompas is characterized by gold mineralization constrained to one specific host rock type (metabasalt) within a broader uranium halo. Within this halo the:

 The top 24% of all trench and drill assays above the lower cut of 0.5 g/t Au or 100 ppm U3O8, have a grade of 100 g/t or more and the top 24% of all intersections have a grade of 0.42% U3O8 or higher (Figure 14);  Top 25% of drill intersections only have a grade of 7.7 g/t or higher;  The highest grade drill hole intersection is 3,540 g/t gold over 1 m. The highest grade uranium intersection is 3.6% U3O8 over 0.6 m in a trench. The highest grade drill intersection grade of 0.7% U3O8 over 1.0 m;  Mineralization in the vein system, to date, is characterized by narrow intersection widths of 1-2m with an average of 0.9 m thickness;  Drilling, to date, has been shallow with 46% of intersections at 20 m down hole depth or less;  11 out of 13 holes drilled in 2013 winter drill program at South Rompas had at least one intersection that exceeded lower cut 0.5 g/t gold or 100 ppm U3O8. Mawson is now evaluating further drilling or bulk sampling programs in order to best determine the gold grade in this nuggety and high-grade gold system. All drilling by Mawson has been NQ or HQ diameter drill core. Drill recoveries are excellent and average close to 100% in fresh rock. After photographing and logging, core intervals averaging between 0.7 to 1.0 metres in length were cut in half at the Geological Survey of Finland core facilities in Rovaniemi, Finland. These half core one metre samples weigh less than three kilograms. Drill intersections are estimated to be 70 to 90 per cent of the true width.

Figure 9: Drilling Regional Location Date: 26 August 2013, Author M.R. Hudson, North to top of map

OVER PAGE Figure 10: North Rompas Drilling Plan Date: 26 August 2013, Author M.R. Hudson, North to top of map

3,399,300 mE 3,399,350 mEmE 3,399,400 mEmE 3,399,450 mEmE 3,399,500 mE mE 3,399,5503,399,550 mE mE 3,399,6003,399,600 mE mE 3,399,6503,399,650 mE mE

ROM0061 Trench Trace

7,378,550 mN Quoted assay interval above cut o

Drill Collar and Trace

Quoted assay interval above cut o

ROM0058 Rock Chip Sample

0>100 5 10 20 Scale 1:1,000 10 to 100metres 1 to 10 <1 0 25 50 metres 7,378,500 mN 7,378,500 mN HoleID Depth Depth Width Au g/t U308ppm TR108569 ROM0057 from to ROM0042 2.4 3.1 0.7 1.00 50 ROM0044 19.7 20.4 0.7 0.14 161 ROM0044 21.8 22.5 0.7 0.51 3 ROM0044 23.9 24.6 0.7 0.82 71 ROM0047 35.4 36.8 1.4 0.01 395 TR108570 ROM0047 44.6 46.0 1.4 0.00 181 ROM0059 ROM0046 ROM0056 ROM0047 51.9 56.1 4.2 0.00 306 ROM0047 TR108566 ROM0048 26.0 26.7 0.7 1.15 40 ROM0049 25.9 26.6 0.7 0.34 166 TR108571 ROM0050 7.1 7.8 0.7 3.51 67 TR104742 TR104743b ROM0048 ROM0050 19.6 20.3 0.7 0.55 91 7,378,450 mN 7,378,450 mN ROM0055 ROM0052 41.0 41.4 0.4 395.00 4118 ROM0052 61.5 62.2 0.7 0.00 179 ROM0045 TR104742C ROM0053 13.7 14.4 0.7 1.14 24 TR104744 TR107451 TR10744C ROM0053 34.7 35.4 0.7 0.67 15 ROM0043 TR10744B ROM0053 78.5 79.6 1.1 9.81 1519 ROM0053 79.0 79.6 0.6 17.95 1059 TR104745 TR108564 ROM0057 43.2 43.4 0.2 0.05 212 ROM0065 77.8 78.4 0.6 0.11 310 ROM0040 ROM0054 ROM0067 20.2 20.7 0.5 0.01 136 TR108565 ROM0067 52.9 53.6 0.7 0.00 171 ROM0042 TR108563 ROM0068 30.3 31 0.7 2.46 1403 TR107446 TR104746 ROM0041 ROM0053 TR107438 7,378,400 mN 7,378,400 mN TR108572 TRENCH width Au g/t U3O8ppm TR107447 ROM0064 TR104749 TR107440 TR104742 1.14 36.60 1999 ROM0049 TR108562 TR104742C 0.69 87.11 3528 ROM0044 ROM0050 TR108560 TR104744 0.13 3.66 4115 ROM0052 TR104745 0.65 4.09 2449 TR104754 TR104749 1.14 9.82 249 ROM0067 TR107437 1.30 5.40 1949

ROM0051 3,399,200 mE 3,399,300 mE 3,399,400 mE 3,399,500 mE TR107440 2.05 15.28 746 TR108559 ROM0063 TR107444B 1.00 1.43 25

7,378,700 mN TR107446 1.53 2.94 149 TR108924 ROM0065 TR107447 0.28 21.60 1155

7,378,350 mN 0.28 220.00 6272 7,378,350 mN TR107451 7,378,600 mN ROM0062 TR108559 5.00 0.60 38

ROM0061 TR108560 3.00 0.26 7 TR108563 1.00 1.54 19

7,378,500 mN TR108566 1.50 1.43 7

ROM0060 MAP TR108569 1.50 1.35 5 ROM0066 AREA TR108570 1.55 11.59 728 7,378,400 mN TR108571 0.20 10.95 2146 TR108572 1.20 37.39 152 TR108915 1.40 2528.78 50705

ROM0068 7,378,300 mN 7,378,300 mN 7,378,300 mN

Figure 3: Plan View of Drillholes from North Rompas with Surface Sampling. New Asssy Results from Drillholes ROM0061 - ROM0068. March 2013

OVER PAGE Figure 11: South Rompas Drilling Plan Date: 26 August 2013, Author M.R. Hudson, North to top of map

Figure 2: Plan Sampling.View New Assay from from with Surface -ROM0082. Results ofDrillholes Rompas ROM0069 Drillholes South 7,373,650 mN 7,373,700 mN 7,373,750 mN 7,373,800 mN 7,373,850 mN 0

metres 25

basalt basalt 3,401,250 mE 3,401,250 mE 50

TR108535 basalt TR107581 TR107580 TR108534 ROM0014

ROM0017 3,401,300 mE 107578 basalt ROM0071+ROM0072 TR107577 TR107575 ROM0069 ROM0015 TR107582 ROM0036 ROM0012 ROM0018 ROM0010 ROM0070 ROM0037 basalt ROM0020 TR107574 3,401,350 mE 3,401,350 mE ROM0035 ROM0011

TR104739 basalt basalt TR104730 TR104738 ROM0025 TR104731 TR107752 TR104737 ROM0073+ ROM0075 ROM0009

ROM0077

ROM0028 ROM0082 basalt ROM0080 ROM0079 ROM0074 ROM0022 3,401,400 mE ROM0013 Projection FinnishKK3 3,401,450 mE 3,401,450 mE Rock Chip Rock Sample Geological Contact Geological Quoted above assay interval cuto CollarDrill and Trace Quoted above assay interval cuto Trench Trace >100 1 to 10 10 to 100 <1 3,401,500 mE ROM0081 ROM0080 ROM0079 ROM0078 ROM0077 ROM0077 ROM0076 ROM0074 ROM0073 ROM0073 ROM0072 ROM0072 ROM0071 ROM0071 ROM0070 ROM0034 ROM0022 ROM0022 ROM0022 ROM0018 ROM0017 ROM0017 ROM0015 ROM0015 ROM0013 ROM0012 ROM0011 ROM0011 ROM0011 ROM0011 ROM0011 ROM0011 ROM0011 ROM0010 ROM0008 ROM0007 ROM0037 ROM0037 ROM0009 HoleID Depth Depth Width Au g/t Au Width Depth Depth HoleID TRENCH TR108534 1.902.5237 TR107590 0.70800.1540639 TR107587 0.291.46876 TR107582 0.4434.192319 TR107581 0.3820.6712343 TR107580 0.673.514787 TR107579 0.6047.004662 TR107578 0.351459.8715882 TR107577 1.071.02166 TR107575 0.351040.3520273 TR107574 0.251012.7223645 TR107752 0.56103.842279 TR104739 0.08217.309208 TR104738 0.951424.2215298 TR104737 0.97244.974271 TR104731 0.8488.96465 TR104730 0.454.67221 TR104724B 1.6257.1014619 TR107588C 0.15871.8332352 TR107588 0.601256.1436095 TR108535 0.504.7643 rmto from 41 16 41 55 31 10 0 41 18 25 17 36 17 4 146 145 0 1 101 100 . 5 . . 4 51 55 541 35 16 45 233 32 2 17 16 1 99 98 6 23 0 11 1 22 1 114 10 2 24 1 16 1 23 45 15 9 15 44 1 137 14 1 0 3540 88 1 13 1 87 12 12 11 11 10 10 1 1 30 1 29 37 36 86 3 4 1 1 69 18 68 17 64 1 1 47 46 ...... 10 5 0 42 3 56 4 32 9 10 3 42 8 20 7 27 8 18 7 37 3 18 8 7 8 5 2 10 9 010 0 1 22 1 1 10 9 9 8 8 7 10 5 0 width Aug/tU3O8ppm . . 50 0 85 95 ...... met met 1 5 0 0 1 0 4 8 0 1 5 1 1 2 0 2 6 1 1 6 8 1 1 4 2 1 6 1 4 0 4 res

res . 50 85 ...... 17 4 1 4 7 2 3 0 7 0 5 5 2 0 7 1 4 4 1 5 0 4 9 4 0 5 148 5 0 4 0 1 0 0 1 1 1 1 3,401,550 mE 3,401,550 mE 20 20 Scale Scale ...... 04162 00 4270 64 01770 00 4 1130 10 80 02830 50 650 00 014 30 027 60 4267 74 215 219 07 672 15 14 118 19 2 29 80 23 104 90 18 56 02 1 60 70 409 30 1 00 920 19 120 39 27 86 7370 95 95 95 60 90 3 50 338 70 1 00 367 80 204 60 933 79 81 38 18 33 029 00 16 55 043 70 U308ppm 1:1,000 1:1,000 ...... 3 2 4 4 4 3 1 5 5 3 2 7 1 7 March 2013

Figure 12: South Rompas Cross Section 7373780N Date: 26 August 2013, Author M.R. Hudson, Section Looking North

OVER PAGE Figure 13: South Rompas Long Section Date: 26 August 2013, Author M.R. Hudson, North the right of map

200mRL 150mRL 100mRL 7,373,700mN N 7,373,700m 750 1: Scale Long SectionLong 20 20 res metres met 0.8 @ 88.9 g/t Au 0 5 10 0 5 10 0.4 @ 0.95 g/t Au 1.14 ppm Au 1.0 m @ 137 g/t Au 1.0 m @ 3.18 g/t Au 1.0 m @ 4.33 g/t Au 1.0 m @ 1.73 g/t Au 0.45 @ 4.7g/t Au

1.0 m @ 3540 g/t Au

7,373,750mN N 7,373,750m

0009 M

158.9 ppm Au

RO Au 2,177.1 ppm

7,719.7 ppm Au 7,719.7 ppm

VG V

ROM0009

0076

0075 M

M Au 0.97 @ 245.0 g/t

ROM0076

RO ROM0075

0037

RO G

ROM0037 0077 V VG

M ROM0077 RO 0.95 @ 1424.2 g/t Au 0.95 @ 1424.2 g/t

0.25 @ 1012.7 g/t Au 0.25 @ 1012.7 g/t G

0011 0074 V

M M

0073 G

G G

VG V V

V V

VG V M

ROM0073 ROM0074 ROM0011

RO RO RO

7.1 ppm Au 7.1 ppm

8 7,373,800mN N 7,373,800m 8 7

00 00

M M

M G

VG V

RO ROM0079 ROM0081 ROM0080 RO

7 00

0.1 @ 217.3 g/t Au 0.1 @ 217.3 M

ROM0070 RO 0.1 @ 217.3 ppm Au 0.1 @ 217.3 ppm Trench with gold Trench > 0.5g/t Au intercept Visible Gold Visible Surface samples > 0.5 ppm Au Drill Hole & Gamma >20cps Drill hole & gold > 0.5g/t Au intercept 3,401,350mE E 3,401,350m

ROM0025

Basalt RO 3,401,400 mE 7,373,850mN N 7,373,850m 3,401,300 mE Basalt 0.5m @ 1.9 g/t Au 1.4m @ 9.2 g/t Au 1.2m @ 7.7 g/t Au 1.4m @ 1.3 g/t Au 0.5 m@ 148 g/t Au 1.4m @ 17.6 g/t Au 1.0m @ 22.8 g/t Au 1.0 m@ 0.67 g/t Au 1.0m @ 9.7 g/t Au 0.85m @ 0.79 g/t Au 0.85m @ 0.79 1.0m @ 0.78 g/t Au 3,401,200 mE 7373680N 7373720N 7373765N 7373750N 7373820N 7373780N 7373800N

7373840N

7,373,700 mN 7,373,700 7,373,800 mN 7,373,800

100mRL 150mRL 200mRL

Figure 14: South Rompas Log Grade vs. Width Note Log Scale of Au ppm Date: 26 August 2013, Author M.R. Hudson

11. Sample Preparation, Analyses and Security 1 (a) No documentation of the sampling methodology was provided by AREVA; the best record of their activities is their sample sites. With few exceptions, all samples were taken of colluvium or sub-cropping angular rock at a few 10’s of cm depth. In October 2009, Nebocat (2011) attempted to sample only the host/wall rock from the pits and/or outcroppings and this is reflected in some of the sample results when compared to the original samples; however, two of the samples did yield highly anomalous Au values (4.37 ppm & 76.8 ppm) plus one anomalous value in U (2,020 ppm). Channel sampling done by the Issuer was usually with a group of 2 to 4 persons. After the surface was cleaned, the channel cut and interval length was marked out with chalk. A motorized diamond saw and water pump were used to cut the channel; the sample was extracted by use of a hammer and chisel. The sample is placed into a double paper, and this is in turn put into a larger plastic bag along with the sample ticket. At the end of each day the samples are stored in a shed at the Issuer’s base camp. The channel sample site is marked with a permanent tag. Subcrop samples are collected in 50 cm pieces after excavating site with a plastic shovel and removing surficial weathered bedrock. Occasionally taken with a hammer or saw if surface is irregular, then categorized as a “grab” sample. Till samples were collected from the C-horizon at varying depths, depending on the local soil profile. A 500 g sample was collected and placed in a plastic bag along with the sample number ticket. Similarly, 500 g of material were collected for the organic soil samples. Samples were taken from the A0, or upper part of the A-horizon from an average depth of 20 cm from surface. All samples were taken and/or prepared by employees of the Issuer. Ten samples each were placed into sacks that were sealed, tagged and labeled. The samples were delivered by truck to the ALS Chemex lab in Pitea, Sweden by employees of the Issuer. 1 (b) AREVA’s samples were assayed at the Labtium Oy laboratory in Rovaniemi, Finland by methods 511P and 704P. The details of the sample preparation are extensive and will not be discussed here; a web-link is provided. Http://www.labtium.fi/en/geology-and-mining-industry/sample-preparation. Method 511P employs aqua regia digestion of the sample and multi-element determinations using ICP-OES instrumentation. Methods 704/705 are used to determine ore grade assays of gold and the platinum metals by high-precision classical lead oxide (litharge)/fire assay method using either 25 g or 50 g subsamples, combined with alternative finishes (FAAS, ICP-OES, gravimetric). Labtium Oy is a FINAS-accredited testing laboratory T025 and calibration laboratory K056 meeting the requirements of standard SFS-EN ISO/IEC 17025:2005 The Issuer’s earlier suites of samples were analyzed by ME-MS81, U-XRF05, XRF-10, Au- GRA21 and Au-AA25 techniques by ALS Chemex Ltd's laboratories in Pitea, Sweden and Vancouver, Canada. The samples were crushed in the Piteå laboratory, and the pulps were shipped to the Vancouver, Canada laboratory for analyses. Crushing methods are fairly standard- -a 250 g split of the crushed material is pulverized in a ring grinder such that greater than 85% of

the material passes through a 75-micron screen. For further details of all the procedures employed by ALS, the reader is referred to the following website: Http://www.alsglobal.com/mineralServicesOverview.aspx All the samples were determined by ALS’s “ME-MS81” package (multi-element mass spectrometer) which reports 38 elements including U and Th. The samples are digested with lithium borate fusion prior to dissolution in acid. Uranium was determined by the “U-XRF05” X-ray fluorescence (XRF) package. A pressed pellet is used for certain elements not easily solubilized by acid digestion techniques. A finely ground sample powder (20 g minimum) is mixed with a few drops of liquid binder, compressed in a pellet press then analyzed by XRF spectrometry. The detection range for U is 4 to 10,000 ppm. Most of the Au determinations were done by the “Au-AA25” package. This is a conventional fire assay-atomic absorption method using a 30 g nominal sample weight. The detection range is from 0.01 to 100 ppm, Samples that yielded much higher values for Au and U using the methods described above were determined again using different techniques. High grade U was determined by ALS’s “XRF-10” package after digestion with lithium borate fusion. The detection range for U is 0.01% to 15%. For high grade Au the “Au-GRA21” package was used. It also uses a 30 g sample, but the finish is done gravimetrically (weighed) rather than the gold bead being dissolved and determined by atomic absorption technique. Subsequent samples were also analyzed using “ME-MS41u”, “PGM-ICP27” and “ME-MS61u” techniques. ME-MS41u is a multi-element, mass spectrometry method the tests for 51 elements plus U (0.05 ppm - 10,000 ppm). The ME-MS61u method is very similar but analyzes just 48 elements plus (0.1 ppm - 10,000 ppm). PGM-ICP27 is an ore grade method for determining Au, Pt and Pd by fire assay and either ICP- AES, or ICP-MS finish. A nominal 30 g sample weight is used, and the detection ranges for Au, Pt and Pd are 0.03-100 ppm. ALS Chemex’s North Vancouver laboratory is ISO/IEC 17025:2005 accredited for precious and base metal assay methods. Certain samples contained too much radioactive material to be prepared by ALS in Sweden due to national occupational health and safety regulations. These samples were sent securely to the laboratory of the Saskatchewan Research Council (SRC) located in Saskatoon, Canada. The samples were analyzed for multi-elements using ICP (inductively coupled plasma spectrometry) technique. Some of the elements were only partially digested using a 0.5 g pulp digested in 2.25 0 ml of 8:1 HNO3: HCl for 1 hour at 95 C. The elements analyzed by the total digestion method had a 0.125 g pulp digested in a heated mixture of HF/HNO3/HClO4 until dry, and the residue is dissolved in dilute HNO3. The uranium was also determined by ICP. A 1.00 g pulp is digested 0 with 24 ml of HCl: HNO3 for 1 hour at 95 C; the result was reported as percent U3O8. SRC is an ISO/IEC 17025:2005 accredited laboratory. All three laboratories are independent of the Issuer.

1 (c) The SRC lab did one repeat assay for all the determinations and used two standards: one for the high grade U, another for the total digestion multi-element ICP determinations. ALS generally inserted 2 standards each for the multi-element ICP, U and Au determinations. Normally just 1 blank and 1 duplicate were inserted, but on sample submissions containing more than 10 samples, 2 duplicate checks were run. The results of the duplicate analyses appear to be acceptable. The internal duplicate, standard and/or blank introduction done Labtium Oy, or those introduced by AREVA, is not known. For the regional till sampling program of 2010, the Issuer collected field duplicates at every 50th sample site. The standard procedure was to sample a separate pit about 1 m from the original pit. In addition to this standards, were inserted on a 1:25 basis. For the channel sampling, a blank was introduced as the first sample within a given batch, and every 25th sample was a standard. The Issuer introduced up to five different analytical standards depending on the type of sample and projected grades. One lower level Au standard was used for the regional till survey (520 ppb), one low grade Au (2 ppm Au, 433 ppm Cu, 495 ppm Ag) and a higher grade Au (11.79 ppm), and two different levels of U (135 ppm and 662 ppm) were used. A plot created by the Issuer of U ppm values for the original vs. duplicate field samples shows a strong correlation with all analytical methods used (5) except for one. For Au, 3 of 4 methods used showed a good correlation. However, not all duplicate samples were analyzed by the same techniques, so an exact comparison is not possible. 1 (d) The author is of the opinion that the sampling, security and quality assurance/quality control procedures employed by the Issuer are well documented and are more than satisfactory.

12. Data Verification The author sampled with Nebocat (2011) who took five samples from three different areas at Rompas (2009) over a distance of about 5 km. These samples were all checks of some of the higher grade samples: four of AREVA’s and one of the Issuer’s. Two samples were collected near the southern end of the Rompas zone, another about 1 km to the north and two more about 5 km to the NNW. The samples ranged from 5 ppm to 2,020 ppm U and from 0.19 ppm to 76.8 ppm Au. Some of these samples corresponded closely to the original samples, others were considerably lower. Nebocat’s (2011) samples consisted of the metavolcanic wallrock, not of the carbonate bearing vein material previously sampled by the Issuer and AREVA. The Issuer’s sample site that was examined was covered with snow and could not be located exactly. Instead, a sample was taken over 0.4 m across a fracture in a nearby outcrop that yielded a strong scintillometer reading. Nebocat (2011) attempted to sample only the host/wall rock from the pits and/or outcroppings and this is reflected in some of the sample results when compared to the original samples; the following table documents these check samples.

Table 3: Comparison of J. Nebocat Samples (2011) with AREVA & Mawson Samples

AREVA/Mawson AREVA/ AREVA/ J. Nebocat J. Nebocat J. Nebocat Sample Mawson-U Mawson-Au Sample U (ppm) Au (ppm) (ppm) (ppm) BBT-070-01 249,000 12,800 73880 34.8 4.37 104209* 2 0.19 73881* 5.09 0.19 EJV-013-03 135,000 4,800 73882 2,020 76.8 TIH-064-02 24.1 0.51 73883 25.9 0.29 BBT-056-00 111,000 2,620 73884 7.44 0.34 * Mawson Resources sample Three samples taken by AREVA are considerably higher in U and Au than those taken by the Nebocat (2011) at the same sites. As stated previously, some of the sampling done by AREVA and the Issuer was focused on determining the nature of the mineralization and is not meant to be representative of the average tenure of the rock over measurable widths. The corresponding samples taken by the author of mostly the host/wall rock yielded considerably lower levels in U and Au; nonetheless, sample 73882 still assayed 76.8 ppm Au (2.24 oz/ton). Two of the original samples that yielded low levels in both U and Au ran similar results in Nebocat (2011)’s.

13. Mineral Processing and Metallurgical Testing No mineral processing or metallurgical testing has been conducted on this property so far.

14. Mineral Resource Estimates There are no known mineral resource estimates for this property.

15. Mineral Reserve Estimates Not applicable to this report.

16. Mining Methods Not applicable to this report.

17. Recovery Methods Not applicable to this report.

18. Project Infrastructure Not applicable to this report.

19. Market Studies and Contracts Not applicable to this report.

20. Environmental Studies, Permitting and Social or Community Impact For the 10,580 hectares at Rompas, the Company is entitled to 100% of the mineral rights over the entire claim with certain limitations on exploration methods that can be completed in Natura 2000 areas (an EU biodiversity program) within the exploration claims, including no drilling or trenching due to the presence of specific flora. 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. Approximately 80% of Mawson’s highest priority targets at Rompas are within European Union defined biodiversity areas (Natura 2000) where the Company is not yet permitted to drill. Natura 2000 defined areas cover 30% of Northern Finland. These targets include the extensive disseminated style mineralization discovered in 2012 at Rajapalot. Mawson commissioned Golder Associates of Finland to complete a year-long Natura 2000 Assessment that mapped and reported in detail the floral distribution and natural habitat types of the area. The assessment also defines the impact that Mawson’s exploration work will have on the biodiversity values. The key consultant who performed all the mapping was one of the biologists who mapped the Rompas Natura 2000 area when it was defined in the late 1990s. He is widely considered as the biodiversity expert for the project area. The report stated that at this stage of exploration, a managed program will have no significant environmental effects on the area. The Company formally submitted the study to the competent authority, the Centre for Economic Development, Transport and the Environment in Lapland on 26th June, 2013. ELY have up to 6 months to comment on the report, and provide their feedback to the mining authorities (TUKES). TUKES are the ultimate decision-makers to modify Mawson’s claims to allow drilling in the Natura 2000 areas. The Company does not expect a decision before early 2014. Over the last year Mawson has also commissioned the Geological Survey of Finland to complete a detailed first stage of a base line geochemical water survey. The aim of the study was to investigate the pre-exploration state of the area. Groundwater, surface water (streams), stream sediments and mosses were studied. Groundwater samples were collected from the wells of the study area, including drilled wells, excavated wells and springs used as household water. Samples of stream water and organic stream sediments were collected from streams in a natural state. Samples of mosses were also collected. Physical-chemical properties (anions and elements) and concentrations of radon (Rn-222) of waters, and elements of the stream sediments and mosses were analyzed. It was found surface, groundwater and moss quality was good and elemental concentrations can be regarded as background values, while variations can be interpreted to be related to the natural variation in the area. Follow-up surveys will be carried out at three year intervals. Additionally, the Company has continued to regularly meet all stakeholders including local groups, municipalities and administrative bodies to update them on the Company’s work plans. For the most part the stakeholders have been supportive of the Company's work programs and how it has dealt with compliance issues; however there have been some objections and opposition to the Company's work plans and environmental efforts. The Company has been dealing with allegations made by certain Environmental Authorities into the Company’s hand dug trenches completed during the 2010 and 2011 work programs. The Company has met with

47 all relevant authorities multiple times during the work period and since the objections were raised and believes it conducted its operations within the intent and law of the Mining and Nature Conservation Acts. The Company has been working with all authorities in a transparent and open manner and strongly believes that all allegations against the Company will be refuted when the facts emerge at the end of the investigation, believed to be at the end of 2013.

21. Capital and Operating Costs Not applicable to this report.

22. Economic Analysis Not applicable to this report.

23. Adjacent Properties There are a few properties nearby controlled by other parties but none that appear to be owned by public companies that report on an exchange. Information on five nearby showings was obtained from a website maintained by GTK: http://en.gtk.fi/Geoinfo/DataProducts/latest/ Vinsa: (Talvivaaran Kaivososakeyhtiö, owner) is an orogenic copper-gold occurrence with no resource estimate available. It comprises a 0.5-2 m wide, >250 m long quartz vein and enveloping alteration halo in a dolerite. Native gold (?) associated with chalcopyrite, pyrite and pyrrhotite. Petäjävaara: (open for acquisition) is an orogenic copper-gold occurrence with no resource estimate available. It comprises a set of quartz veins in a sheared, SW-trending, contact zone between dolerite and quartzite, and is chiefly hosted by the dolerite. Gold only in the quartz veins? Kivimaa: (Endomines Oy, owner) is an orogenic copper-gold deposit with an in situ pre- mining resource estimate of 106 kg gold and 1160 t copper (no JORC-compliant resource calculation is available). In 1969, 18,600 t of ore was mined by Outokumpu Oy, and only 37 kg gold and 223 t Cu recovered. Kivimaa comprises a 1-6 m wide, >350 m long quartz vein and enveloping alteration halo in an E-W trending dip-slip fault in a dolerite. Native gold as inclusions in arsenopyrite and, possibly, as free gold. All gold appears to be in the quartz vein. Sivakkajoki: (Endomines Oy, owner) close to the Kivimaa deposit, is an orogenic gold occurrence with no resource estimate available. It comprises a set of carbonate-quartz veins and enveloping alteration halo in an E-W trending fault in a dolerite. Apparently, gold only in the quartz veins. Vähäjoki: (Pyhäsalmi Mine Oy) possibly is an iron oxide-copper-gold deposit. It includes 14 magnetite bodies with an historic resource estimate totaling at 10.5 Mt, with a variable copper, cobalt and gold content. The best gold lodes are 0.1 Mt, 0.23 Mt and 1.0 Mt in size and contain 0.5 g/t Au, 0.03-0.5% Co, 0.05-1% Cu (no JORC-compliant resource calculation is available). In addition, there are at least 15 magnetite bodies which are not included into the resource estimate. The magnetite bodies form a N-S trending array possibly indicating the trend for a controlling structure (shear or fault zone). Host rocks are Fe-metasomatic products

of altered mafic volcanic rocks and dolomitic marbles. Mineral assemblages suggest mineralization under 465°C, 2-4 kbar conditions. No intrusive rocks have been detected in the vicinity of Vähäjoki. Native gold, mostly as inclusions in cobaltite, locally also associated with arsenopyrite.

24. Other Relevant Data and Information There is no other relevant data or information pertinent to this report.

25. Interpretation and Conclusions The Rompas-Rajapalot project is a new discovery in Northern Finland where high-grade gold and uranium have been found within an area approaching 10km by 10km.

The initial discovery area, Rompas is defined over a 6.0 kilometres strike and 200-250 metres width. Exploration on the project started in May 2010. During that year, 80 channel samples averaged 0.59 metres @ 203.66 g/t gold and 0.86% uranium oxide and during 2011 the weighted average of all 74 channel intervals was 1.40 m @ 51.9 g/t gold and 0.13% uranium oxide. Unrepresentative grab sample results include values up to 33,200ppm gold and 56.6% uranium oxide at Rompas.

In August 2012, results from the first drill program at Rompas returned 6 metres at 617 g/t gold in drill hole ROM0011 including 1 metre at 3,540 g/t gold and 1 metre at 114.5 g/t gold in drill hole ROM0015. These results confirmed the significance of the hundreds of significant grade surface occurrences that were channel sampled during 2010 and 2011.

Gold and uranium mineralization at Rompas is hosted by a quartz-calc-silicate vein array and related alteration selvages. The calc-silicate veins (amphibole-pyroxene-quartz-carbonate ±gold, uraninite) and alteration selvages (biotite-amphibole-K-feldspar) have been metamorphosed to amphibolite facies, following a structural episode of flattening within high strain zones. It is interpreted that the veins are an early (pre-structuring) vein array, but that the high-grade mineralization is likely a result of the structuring and metamorphism.

In September 2012, Mawson announced a new discovery at the Rajapalot area located 8 kilometres to the east of the Rompas trend. Highlights from this work include prospecting grab samples taken from outcrop that returned 2,817 g/t gold, 2,196 g/t gold, 1,245 g/t gold, 933 g/t gold, 151 g/t gold and 135.5 g/t gold. A total of 52 grab samples from the Rajapalot prospect to date average 152.8 g/t gold and range from 0.001 g/t to 2,817 g/t gold.

Discovery grab samples from the Rajapalot project have returned gold mineralization from three distinct areas, namely the Palokas, Joki and Rumajärvi prospects. The areas were targeted with regional geophysics and surface soil geochemistry. Rumajärvi lies 1.5 kilometres south of Palokas, while Joki is located 1 kilometre southeast of Palokas. Each prospect area is characterized by minor outcrop on a topographic high, within a predominantly swampy terrain and therefore very little in situ bedrock has been located. Little outcrop has been found between the prospect areas. As the same mineralized lithologies occur in outcrop, the glacial boulders sampled and reported here are considered to be proximal to their source. The style of mineralization at some of the new localities is sulphidic and of a disseminated or replacement

style, which differs from the vein style observed at Rompas. All samples are prospecting grab samples. These are selective by nature and are unlikely to represent average grades on the property.

Importantly, about 90% of the Rompas-Rajapalot project area is below soil and till cover which, at up to 5m thick, is too thick for the discovery of near-surface radiometric occurrences and exploration is at its very earliest of stages.

26. Recommendations A continuing program is recommended at Rompas with work programs aimed to achieve key goals as follows: GOAL 1: DRILL COHERENT GOLD MINERALIZATION a. Drill test non-nuggety gold, i.e. Rajapalot targets outside Natura  Defining Rajapalot style outside Natura  Focus on prospecting quartzite/basalt contact and structural targets for Rajapalot style outside Natura.  New interpretation based on VTEM, radiometrics and magnetics integrated with current mapping and geochemistry data  Stitch together all best data sets, process within geomorphological terrains  Make a map of non-vein, Rajapalot-style mineralization occurrences b. Determine controls of nuggety system  Continue geological studies on controls of gold mineralization: geological/structural observations (oblique fracture control, carbon controls)  250m of diamond drill holes at South Rompas in 160-340 plane to test for oblique structures.  Strip at least one area in Kaita (10m x 10m) and map and niche sample veins in 2D. Also consider South Block at South Rompas  Take 25 thin sections with all gold mineralization styles to characterize at detailed level  800m of RC drilling at South to gain larger and better samples (35kg/m) and to test varying orientations i.e. E-W and NE-SW trends. Drill for grade. Also to gain sample for metallurgical test work.  Strip/trench ROM0011 area and bulk sample after permit modification and renewal GOAL 2: DEFINE ROBUST DRILL TARGETS AND GAIN DRILLING ACCESS TO RAJAPALOT TARGETS  Further prospecting of known targets via field prospecting, geological mapping and reconnaissance

 Hand channel sampling  5-10 line km gradient IP geophysics at Rumajärvi and Palokas  Minor bedrock sampling – at Palokas, then Rumajärvi  Radiometric point sampling at Palokas GOAL 3: CONTINUE TO BUILD THE MINERALIZATION INVENTORY, FOCUS OUTSIDE NATURA: 98% OF PROPERTY REMAINS UNDER GLACIALTILL COVER  Short diamond tails across target host sequence that remains under cover: 3.5 line km at 50 m spacing  1000m of diamond drilling at Kaita to understand system and then potential follow up with RC drilling A program of at least 1,200 m of diamond drilling, 800 m of RC Drilling and regional diamond tails drilling into blind host rocks is proposed for the targets within the project areas for the remainder of 2013. An exploration and company-wide budget, with exclusive focus on Rompas, to carry out the programs listed above is estimated at approximately C$2,500,000 as show in the Table 4 below:

Table 4: Recommended company-wide budget for August-December 2013:

Cost Centre CDN$ % Exploration 717,155 29.0 Permits and Environmental 296,026 12.0 Finland Personnel 284,808 11.5 Canada Personnel 198,374 8.0 Office and Listing Costs 156,670 6.3 Sweden Personnel 110,703 4.5 PR 96,295 3.9

Computers, vehicles, consumables 83,669 3.4 Travel 81,692 3.3 Office 67,852 2.7 Contractors 67,569 2.7 Board 62,500 2.5 Contingency 247,032 10.0 TOTAL 2,470,344 100

1.0 References Ashley, P.M., 2011, Petrographic Report on Four Rock Samples from Scandinavia: unpublished report, unpublished report, 12 p. ______, 2011, Petrographic Report on Fifty-Five Rock Samples from the Rompas Area, Peräpohja Schist Belt, Finland, unpublished report, 87 p. ______, 2009, Petrographic Report on Fifteen Rock Samples From Peräpohja Schist Belt, Finland: unpublished report, 40 p. Dahlenborg, L., 2011, Comparison of till Geochemistry and Structural targets at the Rompas Project, NW Finland, unpublished report, 11 p. Dahlenborg, L., 2012, Ah sampling 2012, QAQC, Results, Context with other surface exploratory datasets, Proposal for further work at the Rompas Project, NW Finland, unpublished report, 6 p. ______, 2010, Interpretation of geochemical results from regional program, Peräpohja Schist Belt, unpublished report, 20 p. Gaál, G., & Gorbatschev, R., 1987, An outline of the Precambrian Evolution of the Baltic Shield: Precambrian Research, v. 35, pp 15-52. Huhma, H., Cliff, R., Perttunen, V. And Sakko, M. 1990. Sm-Nd and Pb isotopic study of mafic rocks associated with early Proterozoic continental rifting: the Peräpohja schist belt in northern Finland. Contributions to Mineralogy and Petrology 104, 367-379. Lauri, L. S., 2011, Geological Mapping of the Rompas Rumavuoma Area, 2011: Geological Survey of Finland, 28 p. ______, 2010, Geological Mapping of the Rompas Rumavuoma Area, 2010: Geological Survey of Finland, 55 p. Lees, T., 2011, personal communications, vice-president of exploration, Mawson Resources Ltd. Mawson Resources Limited, 2010-2012: various press releases and Management Discussion & Analyses documents. Mustonen, M, 2012. Geochemistry and petrography of the volcanic rocks in the Rompas area, Ylitornio, northern Finland. M.Sc. thesis, University of Oulu, 63pp. Nebocat, J., 2011, Progress Report on the Geology, Mineralization and Exploration Activities on the Rompas Gold-Uranium Property Southern Lapland, Finland. Prepared for Mawson Resources Ltd. Effective Date: November 2, 2011 Perttunen, V. & Hanski, E., 2003, Explanation to the maps of Pre-Quaternary rocks, sheets 2631 and 2633, Summary: Pre-Quaternary rocks of the Törmäsjärvi and Koivu map-sheet areas: GTK, ESPOO 2003, 92 p. Pitkänen, T., 2011, Ground geophysical survey, Northern Finland, Rompas: Gradient IP and Resistivity Survey: Geovista AB, unpublished report, 10 p. Prave, T, 2013, A Synthesis of The Geology of The Peräpohja Schist Belt: A Field Excursion, 16-21 June, 2013 University St Andrews For Mawson Resources Ltd

Rankin, L.R., 2011, Rompas Au-U Project: 2011 Field Mapping & Geophysical Interpretation, unpublished report, 74 p. ______, 2010, Rompas District, Central Finland: Geological Interpretation of Detailed Airborne Geophysical Data, 46 p. Richard, P., & Carrier, A., 2008, Technical Report On The Lavoie Property and “ L” Uranium Deposit (Otish Area, Quebec): 43-101 Report For Abitex Resources, 85 P. Sarala, P., 2010, Quaternary geology and till geochemistry in the Rompas-Rumavuoma area and its surroundings in the central Peräpohja Schist Belt: Geological Survey of Finland. Vanhanen, 2010, Report of the Field Studies of the Rumavuoma-Romppaanvuoma (Rompas) Area During 2007-2008: AREVA NC, 41p.

Appendix 1: List of Mawson’s Claims at Rompas/Finland.

Name of the Mining Date claim registry Area in Date of granted Date of Name of Claimant Commodity hectare applicatio number s n expiry applicant

2007‐05‐ 2013‐06‐ Mawson Energi Mawson Mustamaa 1 8403/1 93.80 15 2010‐06‐16 16 AB Oy Uranium 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 1 8837/1 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 2 8837/2 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 3 8837/3 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 4 8837/4 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 5 8837/5 96.83 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 6 8837/6 90.90 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 7 8837/7 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 8 8837/8 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 9 8837/9 97.74 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 10 8837/10 84.85 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 11 8837/11 91.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 12 8837/12 95.11 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 13 8837/13 62.36 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 14 8837/14 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 15 8837/15 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 16 8837/16 83.71 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Karsikkovaara 17 8837/17 52.87 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 1 8837/18 89.29 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 2 8837/19 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 3 8837/20 93.57 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 4 8837/21 99.49 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 5 8837/22 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 6 8837/23 98.56 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 7 8837/24 99.28 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 8 8837/25 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 9 8837/26 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 10 8837/27 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 11 8837/28 100.00 15 2011‐10‐31 30 AB Oy Gold

2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 12 8837/29 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 13 8837/30 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 14 8837/31 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 15 8837/32 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 16 8837/33 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 17 8837/34 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 18 8837/35 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 19 8837/36 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 20 8837/37 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 21 8837/38 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 22 8837/39 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 23 8837/40 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 24 8837/41 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 25 8837/42 99.64 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 26 8837/43 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 27 8837/44 99.99 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 28 8837/45 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 29 8837/46 99.64 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 30 8837/47 98.78 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 31 8837/48 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 32 8837/49 99.32 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 33 8837/50 99.99 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 34 8837/51 99.58 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 35 8837/52 99.94 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 36 8837/53 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 37 8837/54 98.93 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 38 8837/55 97.75 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 39 8837/56 98.97 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 40 8837/57 97.54 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 41 8837/58 99.45 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 42 8837/59 99.91 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 43 8837/60 99.96 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 44 8837/61 99.86 15 2011‐10‐31 30 AB Oy Gold

2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 45 8837/62 98.03 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Rompas 46 8837/63 99.90 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 1 8837/64 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 2 8837/65 72.98 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 3 8837/66 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 4 8837/67 92.42 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 5 8837/68 99.79 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 6 8837/69 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 7 8837/70 83.67 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 8 8837/71 99.99 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 9 8837/72 99.99 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 10 8837/73 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 11 8837/74 99.99 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 12 8837/75 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 13 8837/76 84.85 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 14 8837/77 97.31 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 15 8837/78 95.06 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 16 8837/79 96.91 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 17 8837/80 97.50 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 18 8837/81 75.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 19 8837/82 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 20 8837/83 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 21 8837/84 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 22 8837/85 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 23 8837/86 75.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 24 8837/87 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 25 8837/88 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 26 8837/89 68.41 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 27 8837/90 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 28 8837/91 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 29 8837/92 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 30 8837/93 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 31 8837/94 100.00 15 2011‐10‐31 30 AB Oy Gold

2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 32 8837/95 83.29 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 33 8837/96 66.57 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 34 8837/97 98.34 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 35 8837/98 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 36 8837/99 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 37 8837/100 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 38 8837/101 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 39 8837/102 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 40 8837/103 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 41 8837/104 96.80 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 42 8837/105 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 43 8837/106 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 44 8837/107 98.10 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 45 8837/108 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 46 8837/109 100.00 15 2011‐10‐31 30 AB Oy Gold 2009‐10‐ 2014‐10‐ Mawson Energi Mawson Uranium, Kaunismaa 47 8837/110 75.00 15 2011‐10‐31 30 AB Oy Gold

Listing of Pending Applications: Application 2007-2010

Claim application Mining registry Area in Date of Name of Commodity name number hectares application applicant

Rumavuoma 1 8526/1 92.21 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 2 8526/2 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 3 8526/3 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 4 8526/4 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 5 8526/5 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 6 8526/6 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 7 8526/7 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 8 8526/8 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 9 8526/9 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 10 8526/10 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 11 8526/11 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 12 8526/12 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag Rumavuoma 13 8526/13 100 2007‐11‐27 Areva Resources Finland Oy U, Au, Cu, Zn, Pb, Ag

Kaitajärvi 1 8965/1 98.01 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 2 8965/2 99.82 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 3 8965/3 99.23 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 4 8965/4 99.18 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 5 8965/5 99.92 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 6 8965/6 98.63 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 7 8965/7 99.31 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 8 8965/8 98.42 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 9 8965/9 99.89 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 10 8965/10 99.96 2010‐04‐30 Mawson Energi AB U, Cu, Fe, ,Co, V, Mo Au, Ag, Pd, Mo, W Kaitajärvi 11 8965/11 87.28 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 12 8965/12 99.93 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 13 8965/13 99.55 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 14 8965/14 96.31 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kaitajärvi 15 8965/15 99.95 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Liikamaa 1 8966/1 100 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Liikamaa 2 8966/2 99.01 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Liikamaa 3 8966/3 100 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Liikamaa 4 8966/4 100 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Liikamaa 5 8966/5 100 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kotavaara 1 8967/1 99.62 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kotavaara 2 8967/2 99.66 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co,, V, Mo Au, Ag, Pd, Mo, W Kotavaara 3 8967/3 99.38 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kotavaara 4 8967/4 99.94 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kotavaara 5 8967/5 99.51 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W Kotavaara 6 8967/6 98.11 2010‐04‐30 Mawson Energi AB U, Cu, Fe, Co, V, Mo, Au, Ag, Pd, Mo, W

Listing of Pending Claim Application Made in 2011

Claim application Preliminary Index of Area in Date of Name of Commodity name claim code the claim hectares application applicant

Lylymaa 1 9256/1 1 87.36 2011‐05‐02 Mawson Energi AB Gold Lylymaa 2 9256/1 5 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 3 9256/1 12 93.21 2011‐05‐02 Mawson Energi AB Gold Lylymaa 4 9256/1 20 60.27 2011‐05‐02 Mawson Energi AB Gold Lylymaa 5 9256/1 21 79.82 2011‐05‐02 Mawson Energi AB Gold Lylymaa 6 9256/1 2 62.48 2011‐05‐02 Mawson Energi AB Gold Lylymaa 7 9256/1 3 37.61 2011‐05‐02 Mawson Energi AB Gold Lylymaa 8 9256/1 6 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 9 9256/1 7 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 10 9256/1 13 100.00 2011‐05‐02 Mawson Energi AB Gold

Lylymaa 11 9256/1 14 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 12 9256/1 4 12.62 2011‐05‐02 Mawson Energi AB Gold Lylymaa 13 9256/1 8 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 14 9256/1 9 50.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 15 9256/1 15 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 16 9256/1 16 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 17 9256/1 17 50.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 18 9256/1 24 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 19 9256/1 25 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 20 9256/1 26 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 21 9256/1 35 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 22 9256/1 36 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 23 9256/1 37 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 24 9256/1 49 52.77 2011‐05‐02 Mawson Energi AB Gold Lylymaa 25 9256/1 50 95.42 2011‐05‐02 Mawson Energi AB Gold Lylymaa 26 9256/1 51 100.00 2011‐05‐02 Mawson Energi AB Gold Lylymaa 27 9256/1 22 74.53 2011‐05‐02 Mawson Energi AB Gold Lylymaa 28 9256/1 23 99.93 2011‐05‐02 Mawson Energi AB Gold Lylymaa 29 9256/1 34 44.13 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 1 9256/1 10 40.33 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 2 9256/1 11 98.29 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 3 9256/1 19 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 4 9256/1 30 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 5 9256/1 31 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 6 9256/1 32 93.73 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 7 9256/1 33 55.96 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 8 9256/1 43 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 9 9256/1 44 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 10 9256/1 45 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 11 9256/1 46 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 12 9256/1 60 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 13 9256/1 61 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 14 9256/1 62 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 15 9256/1 63 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 16 9256/1 80 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 17 9256/1 81 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 18 9256/1 82 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 19 9256/1 83 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 20 9256/1 113 87.90 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 21 9256/1 114 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 22 9256/1 115 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 23 9256/1 116 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 24 9256/1 47 93.58 2011‐05‐02 Mawson Energi AB Gold

Jänkävaara 25 9256/1 48 55.51 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 26 9256/1 64 99.25 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 27 9256/1 65 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 28 9256/1 66 94.48 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 29 9256/1 67 57.72 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 30 9256/1 84 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 31 9256/1 85 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 32 9256/1 86 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 33 9256/1 87 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 34 9256/1 117 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 35 9256/1 118 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 36 9256/1 119 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 37 9256/1 120 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 38 9256/1 145 74.19 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 39 9256/1 146 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 40 9256/1 147 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 41 9256/1 148 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 42 9256/1 173 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 43 9256/1 174 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 44 9256/1 175 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 45 9256/1 176 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 46 9256/1 200 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 47 9256/1 201 99.44 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 48 9256/1 202 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 49 9256/1 203 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 50 9256/1 149 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 51 9256/1 150 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 52 9256/1 151 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 53 9256/1 152 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 54 9256/1 177 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 55 9256/1 178 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 56 9256/1 179 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 57 9256/1 180 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 58 9256/1 204 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 59 9256/1 205 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 60 9256/1 206 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 61 9256/1 207 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 62 9256/1 238 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 63 9256/1 239 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 64 9256/1 240 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 65 9256/1 241 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 66 9256/1 68 63.69 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 67 9256/1 121 99.82 2011‐05‐02 Mawson Energi AB Gold

Jänkävaara 68 9256/1 153 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 69 9256/1 154 95.72 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 70 9256/1 181 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 71 9256/1 208 100.00 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 72 9256/1 209 95.94 2011‐05‐02 Mawson Energi AB Gold Jänkävaara 73 9256/1 210 28.98 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 1 9256/1 211 67.45 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 2 9256/1 245 50.26 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 3 9256/1 246 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 4 9256/1 276 25.66 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 5 9256/1 277 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 6 9256/1 278 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 7 9256/1 304 99.25 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 8 9256/1 305 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 9 9256/1 306 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 10 9256/1 336 90.40 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 11 9256/1 337 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 12 9256/1 338 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 13 9256/1 339 99.79 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 14 9256/1 247 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 15 9256/1 248 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 16 9256/1 249 94.28 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 17 9256/1 250 63.47 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 18 9256/1 279 77.83 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 19 9256/1 280 33.92 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 20 9256/1 307 75.88 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 21 9256/1 301 74.82 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 22 9256/1 302 99.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 23 9256/1 303 98.69 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 24 9256/1 334 99.88 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 25 9256/1 335 59.60 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 26 9256/1 368 49.69 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 27 9256/1 369 69.25 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 28 9256/1 370 25.33 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 29 9256/1 399 78.68 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 30 9256/1 400 36.99 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 31 9256/1 431 64.29 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 32 9256/1 371 98.75 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 33 9256/1 372 98.41 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 34 9256/1 401 96.19 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 35 9256/1 402 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 36 9256/1 432 72.21 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 37 9256/1 434 80.54 2011‐05‐02 Mawson Energi AB Gold

Kuusivaara 38 9256/1 373 100.00 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 39 9256/1 340 71.97 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 40 9256/1 403 98.65 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 41 9256/1 404 81.16 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 42 9256/1 435 86.79 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 43 9256/1 436 92.07 2011‐05‐02 Mawson Energi AB Gold Kuusivaara 44 9256/1 437 16.46 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 1 9256/1 629 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 2 9256/1 630 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 3 9256/1 631 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 4 9256/1 632 96.55 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 5 9256/1 641 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 6 9256/1 642 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 7 9256/1 643 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 8 9256/1 644 59.95 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 9 9256/1 652 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 10 9256/1 653 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 11 9256/1 654 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 12 9256/1 655 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 13 9256/1 633 99.64 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 14 9256/1 634 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 15 9256/1 635 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 16 9256/1 645 49.28 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 17 9256/1 646 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 18 9256/1 647 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 19 9256/1 636 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 20 9256/1 637 80.66 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 21 9256/1 648 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 22 9256/1 649 97.98 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 23 9256/1 638 61.74 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 24 9256/1 639 94.05 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 25 9256/1 640 89.81 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 26 9256/1 650 78.13 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 27 9256/1 651 90.73 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 28 9256/1 656 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 29 9256/1 657 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 30 9256/1 658 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 31 9256/1 667 99.38 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 32 9256/1 668 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 33 9256/1 669 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 34 9256/1 678 47.43 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 35 9256/1 679 56.56 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 36 9256/1 659 100.00 2011‐05‐02 Mawson Energi AB Gold

Kätkävaara 37 9256/1 660 85.61 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 38 9256/1 670 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 39 9256/1 671 96.85 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 40 9256/1 680 68.59 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 41 9256/1 681 94.58 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 42 9256/1 661 47.79 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 43 9256/1 662 90.08 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 44 9256/1 672 82.60 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 45 9256/1 673 46.84 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 46 9256/1 682 94.49 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 47 9256/1 663 94.98 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 48 9256/1 664 85.09 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 49 9256/1 674 36.22 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 50 9256/1 665 98.29 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 51 9256/1 666 100.00 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 52 9256/1 675 99.68 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 53 9256/1 676 77.79 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 54 9256/1 683 86.85 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 55 9256/1 677 78.66 2011‐05‐02 Mawson Energi AB Gold Kätkävaara 56 9256/1 684 21.45 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 1 9256/1 18 89.09 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 2 9256/1 28 87.03 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 3 9256/1 29 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 4 9256/1 41 97.29 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 5 9256/1 42 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 6 9256/1 58 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 7 9256/1 59 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 8 9256/1 40 17.83 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 9 9256/1 56 93.03 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 10 9256/1 57 99.82 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 11 9256/1 76 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 12 9256/1 109 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 13 9256/1 55 82.89 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 14 9256/1 74 96.78 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 15 9256/1 75 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 16 9256/1 107 49.79 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 17 9256/1 108 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 18 9256/1 139 61.50 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 19 9256/1 140 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 20 9256/1 168 91.03 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 21 9256/1 77 94.42 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 22 9256/1 78 87.86 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 23 9256/1 79 100.00 2011‐05‐02 Mawson Energi AB Gold

Lohijärvi 24 9256/1 110 94.42 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 25 9256/1 111 74.92 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 26 9256/1 112 98.89 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 27 9256/1 141 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 28 9256/1 169 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 29 9256/1 196 63.71 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 30 9256/1 195 6.37 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 31 9256/1 142 95.86 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 32 9256/1 143 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 33 9256/1 144 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 34 9256/1 170 98.82 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 35 9256/1 171 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 36 9256/1 172 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 37 9256/1 197 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 38 9256/1 198 100.00 2011‐05‐02 Mawson Energi AB Gold Lohijärvi 39 9256/1 199 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 1 9256/1 105 83.38 2011‐05‐02 Mawson Energi AB Gold Lohivaara 2 9256/1 106 44.22 2011‐05‐02 Mawson Energi AB Gold Lohivaara 3 9256/1 138 97.93 2011‐05‐02 Mawson Energi AB Gold Lohivaara 4 9256/1 167 84.48 2011‐05‐02 Mawson Energi AB Gold Lohivaara 5 9256/1 104 67.03 2011‐05‐02 Mawson Energi AB Gold Lohivaara 6 9256/1 136 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 7 9256/1 137 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 8 9256/1 166 77.39 2011‐05‐02 Mawson Energi AB Gold Lohivaara 9 9256/1 135 92.85 2011‐05‐02 Mawson Energi AB Gold Lohivaara 10 9256/1 165 32.66 2011‐05‐02 Mawson Energi AB Gold Lohivaara 11 9256/1 191 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 12 9256/1 192 98.01 2011‐05‐02 Mawson Energi AB Gold Lohivaara 13 9256/1 193 44.16 2011‐05‐02 Mawson Energi AB Gold Lohivaara 14 9256/1 224 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 15 9256/1 225 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 16 9256/1 226 99.54 2011‐05‐02 Mawson Energi AB Gold Lohivaara 17 9256/1 227 99.85 2011‐05‐02 Mawson Energi AB Gold Lohivaara 18 9256/1 257 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 19 9256/1 258 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 20 9256/1 259 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 21 9256/1 260 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 22 9256/1 134 98.10 2011‐05‐02 Mawson Energi AB Gold Lohivaara 23 9256/1 164 46.76 2011‐05‐02 Mawson Energi AB Gold Lohivaara 24 9256/1 190 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 25 9256/1 222 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 26 9256/1 223 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 27 9256/1 255 100.00 2011‐05‐02 Mawson Energi AB Gold

Lohivaara 28 9256/1 256 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 29 9256/1 163 91.03 2011‐05‐02 Mawson Energi AB Gold Lohivaara 30 9256/1 189 93.09 2011‐05‐02 Mawson Energi AB Gold Lohivaara 31 9256/1 188 42.31 2011‐05‐02 Mawson Energi AB Gold Lohivaara 32 9256/1 194 98.93 2011‐05‐02 Mawson Energi AB Gold Lohivaara 33 9256/1 228 62.22 2011‐05‐02 Mawson Energi AB Gold Lohivaara 34 9256/1 261 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 35 9256/1 219 26.55 2011‐05‐02 Mawson Energi AB Gold Lohivaara 36 9256/1 220 79.46 2011‐05‐02 Mawson Energi AB Gold Lohivaara 37 9256/1 221 84.65 2011‐05‐02 Mawson Energi AB Gold Lohivaara 38 9256/1 252 50.08 2011‐05‐02 Mawson Energi AB Gold Lohivaara 39 9256/1 253 100.00 2011‐05‐02 Mawson Energi AB Gold Lohivaara 40 9256/1 254 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 1 9256/1 559 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 2 9256/1 560 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 3 9256/1 561 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 4 9256/1 573 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 5 9256/1 574 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 6 9256/1 575 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 7 9256/1 588 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 8 9256/1 589 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 9 9256/1 590 87.78 2011‐05‐02 Mawson Energi AB Gold Louejoki 10 9256/1 602 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 11 9256/1 603 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 12 9256/1 590 95.05 2011‐05‐02 Mawson Energi AB Gold Louejoki 13 9256/1 562 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 14 9256/1 576 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 15 9256/1 591 85.46 2011‐05‐02 Mawson Energi AB Gold Louejoki 16 9256/1 605 67.60 2011‐05‐02 Mawson Energi AB Gold Louejoki 17 9256/1 563 99.97 2011‐05‐02 Mawson Energi AB Gold Louejoki 18 9256/1 564 95.11 2011‐05‐02 Mawson Energi AB Gold Louejoki 19 9256/1 577 97.05 2011‐05‐02 Mawson Energi AB Gold Louejoki 20 9256/1 578 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 21 9256/1 579 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 22 9256/1 580 70.79 2011‐05‐02 Mawson Energi AB Gold Louejoki 23 9256/1 592 98.74 2011‐05‐02 Mawson Energi AB Gold Louejoki 24 9256/1 593 99.82 2011‐05‐02 Mawson Energi AB Gold Louejoki 25 9256/1 594 99.13 2011‐05‐02 Mawson Energi AB Gold Louejoki 26 9256/1 606 60.87 2011‐05‐02 Mawson Energi AB Gold Louejoki 27 9256/1 614 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 28 9256/1 615 95.12 2011‐05‐02 Mawson Energi AB Gold Louejoki 29 9256/1 625 100.00 2011‐05‐02 Mawson Energi AB Gold Louejoki 30 9256/1 626 92.67 2011‐05‐02 Mawson Energi AB Gold

Louejoki 31 9256/1 616 77.15 2011‐05‐02 Mawson Energi AB Gold Louejoki 32 9256/1 617 45.22 2011‐05‐02 Mawson Energi AB Gold Louejoki 33 9256/1 627 79.23 2011‐05‐02 Mawson Energi AB Gold Louejoki 34 9256/1 628 72.45 2011‐05‐02 Mawson Energi AB Gold Mellajoki 1 9256/1 234 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 2 9256/1 235 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 3 9256/1 236 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 4 9256/1 237 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 5 9256/1 266 93.12 2011‐05‐02 Mawson Energi AB Gold Mellajoki 6 9256/1 267 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 7 9256/1 268 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 8 9256/1 269 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 9 9256/1 287 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 10 9256/1 288 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 11 9256/1 289 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 12 9256/1 290 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 13 9256/1 316 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 14 9256/1 317 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 15 9256/1 318 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 16 9256/1 319 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 17 9256/1 348 84.76 2011‐05‐02 Mawson Energi AB Gold Mellajoki 18 9256/1 349 92.64 2011‐05‐02 Mawson Energi AB Gold Mellajoki 19 9256/1 350 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 20 9256/1 351 91.69 2011‐05‐02 Mawson Energi AB Gold Mellajoki 21 9256/1 270 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 22 9256/1 271 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 23 9256/1 291 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 24 9256/1 292 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 25 9256/1 320 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 26 9256/1 321 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 27 9256/1 352 65.96 2011‐05‐02 Mawson Energi AB Gold Mellajoki 28 9256/1 354 62.16 2011‐05‐02 Mawson Energi AB Gold Mellajoki 29 9256/1 353 51.90 2011‐05‐02 Mawson Energi AB Gold Mellajoki 30 9256/1 385 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 31 9256/1 386 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 32 9256/1 272 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 33 9256/1 273 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 34 9256/1 293 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 35 9256/1 294 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 36 9256/1 322 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 37 9256/1 323 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 38 9256/1 355 99.92 2011‐05‐02 Mawson Energi AB Gold Mellajoki 39 9256/1 356 73.88 2011‐05‐02 Mawson Energi AB Gold

Mellajoki 40 9256/1 387 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 41 9256/1 388 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 42 9256/1 380 99.84 2011‐05‐02 Mawson Energi AB Gold Mellajoki 43 9256/1 381 87.34 2011‐05‐02 Mawson Energi AB Gold Mellajoki 44 9256/1 382 7.84 2011‐05‐02 Mawson Energi AB Gold Mellajoki 45 9256/1 383 83.46 2011‐05‐02 Mawson Energi AB Gold Mellajoki 46 9256/1 384 98.08 2011‐05‐02 Mawson Energi AB Gold Mellajoki 47 9256/1 414 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 48 9256/1 415 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 49 9256/1 447 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 50 9256/1 448 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 51 9256/1 483 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 52 9256/1 484 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 53 9256/1 412 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 54 9256/1 413 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 55 9256/1 445 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 56 9256/1 446 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 57 9256/1 481 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 58 9256/1 482 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 59 9256/1 416 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 60 9256/1 417 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 61 9256/1 449 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 62 9256/1 450 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 63 9256/1 485 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 64 9256/1 486 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 65 9256/1 509 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 66 9256/1 510 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 67 9256/1 532 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 68 9256/1 533 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 69 9256/1 418 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 70 9256/1 419 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 71 9256/1 451 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 72 9256/1 452 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 73 9256/1 487 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 74 9256/1 488 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 75 9256/1 511 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 76 9256/1 512 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 77 9256/1 534 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajoki 78 9256/1 535 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 1 9256/1 242 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 2 9256/1 243 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 3 9256/1 244 70.65 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 4 9256/1 274 100.00 2011‐05‐02 Mawson Energi AB Gold

Mellajärvi 5 9256/1 275 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 6 9256/1 295 80.06 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 7 9256/1 296 27.10 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 8 9256/1 324 67.41 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 9 9256/1 357 95.80 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 10 9256/1 358 96.56 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 11 9256/1 297 84.01 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 12 9256/1 325 49.66 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 13 9256/1 326 68.79 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 14 9256/1 327 25.15 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 15 9256/1 359 99.18 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 16 9256/1 360 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 17 9256/1 298 65.93 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 18 9256/1 299 53.60 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 19 9256/1 328 58.71 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 20 9256/1 331 85.11 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 21 9256/1 329 64.54 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 22 9256/1 330 66.78 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 23 9256/1 361 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 24 9256/1 362 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 25 9256/1 363 90.99 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 26 9256/1 393 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 27 9256/1 394 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 28 9256/1 395 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 29 9256/1 389 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 30 9256/1 390 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 31 9256/1 391 99.95 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 32 9256/1 392 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 33 9256/1 420 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 34 9256/1 421 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 35 9256/1 422 99.76 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 36 9256/1 423 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 37 9256/1 453 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 38 9256/1 454 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 39 9256/1 455 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 40 9256/1 456 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 41 9256/1 424 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 42 9256/1 425 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 43 9256/1 426 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 44 9256/1 457 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 45 9256/1 458 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 46 9256/1 459 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 47 9256/1 493 100.00 2011‐05‐02 Mawson Energi AB Gold

Mellajärvi 48 9256/1 494 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 49 9256/1 495 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 50 9256/1 517 19.87 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 51 9256/1 518 43.32 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 52 9256/1 489 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 53 9256/1 490 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 54 9256/1 491 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 55 9256/1 492 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 56 9256/1 513 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 57 9256/1 514 100.00 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 58 9256/1 515 94.97 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 59 9256/1 516 59.91 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 60 9256/1 536 80.03 2011‐05‐02 Mawson Energi AB Gold Mellajärvi 61 9256/1 537 44.98 2011‐05‐02 Mawson Energi AB Gold Mellakoski 1 9256/1 229 69.71 2011‐05‐02 Mawson Energi AB Gold Mellakoski 2 9256/1 262 68.25 2011‐05‐02 Mawson Energi AB Gold Mellakoski 3 9256/1 283 77.64 2011‐05‐02 Mawson Energi AB Gold Mellakoski 4 9256/1 230 40.05 2011‐05‐02 Mawson Energi AB Gold Mellakoski 5 9256/1 231 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 6 9256/1 232 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 7 9256/1 233 99.83 2011‐05‐02 Mawson Energi AB Gold Mellakoski 8 9256/1 263 97.27 2011‐05‐02 Mawson Energi AB Gold Mellakoski 9 9256/1 264 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 10 9256/1 265 93.26 2011‐05‐02 Mawson Energi AB Gold Mellakoski 11 9256/1 284 98.35 2011‐05‐02 Mawson Energi AB Gold Mellakoski 12 9256/1 285 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 13 9256/1 286 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 14 9256/1 281 96.04 2011‐05‐02 Mawson Energi AB Gold Mellakoski 15 9256/1 308 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 16 9256/1 341 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 17 9256/1 282 71.78 2011‐05‐02 Mawson Energi AB Gold Mellakoski 18 9256/1 309 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 19 9256/1 310 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 20 9256/1 342 96.29 2011‐05‐02 Mawson Energi AB Gold Mellakoski 21 9256/1 343 95.21 2011‐05‐02 Mawson Energi AB Gold Mellakoski 22 9256/1 311 97.88 2011‐05‐02 Mawson Energi AB Gold Mellakoski 23 9256/1 312 80.20 2011‐05‐02 Mawson Energi AB Gold Mellakoski 24 9256/1 345 71.44 2011‐05‐02 Mawson Energi AB Gold Mellakoski 25 9256/1 346 92.52 2011‐05‐02 Mawson Energi AB Gold Mellakoski 26 9256/1 313 57.91 2011‐05‐02 Mawson Energi AB Gold Mellakoski 27 9256/1 314 99.31 2011‐05‐02 Mawson Energi AB Gold Mellakoski 28 9256/1 315 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 29 9256/1 347 49.26 2011‐05‐02 Mawson Energi AB Gold

Mellakoski 30 9256/1 344 36.71 2011‐05‐02 Mawson Energi AB Gold Mellakoski 31 9256/1 376 90.23 2011‐05‐02 Mawson Energi AB Gold Mellakoski 32 9256/1 377 84.61 2011‐05‐02 Mawson Energi AB Gold Mellakoski 33 9256/1 374 97.53 2011‐05‐02 Mawson Energi AB Gold Mellakoski 34 9256/1 375 75.71 2011‐05‐02 Mawson Energi AB Gold Mellakoski 35 9256/1 405 9.85 2011‐05‐02 Mawson Energi AB Gold Mellakoski 36 9256/1 406 75.66 2011‐05‐02 Mawson Energi AB Gold Mellakoski 37 9256/1 378 86.39 2011‐05‐02 Mawson Energi AB Gold Mellakoski 38 9256/1 379 89.02 2011‐05‐02 Mawson Energi AB Gold Mellakoski 39 9256/1 411 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 40 9256/1 444 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 41 9256/1 480 95.34 2011‐05‐02 Mawson Energi AB Gold Mellakoski 42 9256/1 479 21.74 2011‐05‐02 Mawson Energi AB Gold Mellakoski 43 9256/1 410 95.14 2011‐05‐02 Mawson Energi AB Gold Mellakoski 44 9256/1 442 75.17 2011‐05‐02 Mawson Energi AB Gold Mellakoski 45 9256/1 443 23.62 2011‐05‐02 Mawson Energi AB Gold Mellakoski 46 9256/1 477 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 47 9256/1 478 48.42 2011‐05‐02 Mawson Energi AB Gold Mellakoski 48 9256/1 407 87.71 2011‐05‐02 Mawson Energi AB Gold Mellakoski 49 9256/1 408 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 50 9256/1 409 59.92 2011‐05‐02 Mawson Energi AB Gold Mellakoski 51 9256/1 438 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 52 9256/1 439 97.75 2011‐05‐02 Mawson Energi AB Gold Mellakoski 53 9256/1 440 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 54 9256/1 441 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 55 9256/1 473 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 56 9256/1 474 95.21 2011‐05‐02 Mawson Energi AB Gold Mellakoski 57 9256/1 475 100.00 2011‐05‐02 Mawson Energi AB Gold Mellakoski 58 9256/1 476 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 1 9256/1 27 50.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 2 9256/1 38 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 3 9256/1 39 50.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 4 9256/1 52 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 5 9256/1 53 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 6 9256/1 54 50.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 7 9256/1 69 65.10 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 8 9256/1 70 99.29 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 9 9256/1 71 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 10 9256/1 72 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 15 9256/1 73 50.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 11 9256/1 88 29.08 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 12 9256/1 89 92.58 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 13 9256/1 90 100.00 2011‐05‐02 Mawson Energi AB Gold

Mustiaapa 16 9256/1 91 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 17 9256/1 92 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 18 9256/1 93 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 19 9256/1 94 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 26 9256/1 95 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 27 9256/1 96 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 28 9256/1 97 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 29 9256/1 98 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 14 9256/1 122 69.16 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 20 9256/1 123 99.36 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 21 9256/1 124 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 22 9256/1 125 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 23 9256/1 126 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 30 9256/1 127 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 31 9256/1 128 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 32 9256/1 129 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 33 9256/1 130 100.00 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 24 9256/1 155 72.31 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 25 9256/1 156 93.46 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 34 9256/1 157 81.82 2011‐05‐02 Mawson Energi AB Gold Mustiaapa 35 9256/1 158 98.54 2011‐05‐02 Mawson Energi AB Gold Mustijoki 1 9256/1 433 29.19 2011‐05‐02 Mawson Energi AB Gold Mustijoki 2 9256/1 467 97.54 2011‐05‐02 Mawson Energi AB Gold Mustijoki 3 9256/1 468 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 4 9256/1 469 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 5 9256/1 470 99.85 2011‐05‐02 Mawson Energi AB Gold Mustijoki 6 9256/1 502 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 7 9256/1 503 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 8 9256/1 504 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 9 9256/1 505 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 10 9256/1 526 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 11 9256/1 527 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 12 9256/1 528 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 13 9256/1 529 95.93 2011‐05‐02 Mawson Energi AB Gold Mustijoki 14 9256/1 545 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 15 9256/1 546 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 16 9256/1 547 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 17 9256/1 548 99.64 2011‐05‐02 Mawson Energi AB Gold Mustijoki 18 9256/1 471 90.19 2011‐05‐02 Mawson Energi AB Gold Mustijoki 19 9256/1 472 81.63 2011‐05‐02 Mawson Energi AB Gold Mustijoki 20 9256/1 506 94.78 2011‐05‐02 Mawson Energi AB Gold Mustijoki 21 9256/1 507 96.85 2011‐05‐02 Mawson Energi AB Gold Mustijoki 22 9256/1 508 65.69 2011‐05‐02 Mawson Energi AB Gold

Mustijoki 23 9256/1 530 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 24 9256/1 531 83.66 2011‐05‐02 Mawson Energi AB Gold Mustijoki 25 9256/1 549 99.98 2011‐05‐02 Mawson Energi AB Gold Mustijoki 26 9256/1 550 74.55 2011‐05‐02 Mawson Energi AB Gold Mustijoki 27 9256/1 551 80.73 2011‐05‐02 Mawson Energi AB Gold Mustijoki 28 9256/1 565 100.00 2011‐05‐02 Mawson Energi AB Gold Mustijoki 29 9256/1 566 99.68 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 1 9256/1 99 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 2 9256/1 100 89.55 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 3 9256/1 101 61.26 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 4 9256/1 131 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 5 9256/1 159 49.08 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 6 9256/1 102 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 7 9256/1 103 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 8 9256/1 132 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 9 9256/1 133 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 10 9256/1 160 50.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 11 9256/1 161 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 12 9256/1 162 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 13 9256/1 185 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 14 9256/1 186 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 15 9256/1 187 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 16 9256/1 216 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 17 9256/1 217 93.53 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 18 9256/1 218 62.22 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 19 9256/1 251 32.17 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 20 9256/1 182 38.31 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 21 9256/1 183 74.72 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 22 9256/1 184 50.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 23 9256/1 212 96.17 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 24 9256/1 213 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 25 9256/1 214 100.00 2011‐05‐02 Mawson Energi AB Gold Rajakirakka 26 9256/1 215 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 1 9256/1 557 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 2 9256/1 558 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 3 9256/1 571 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 4 9256/1 572 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 5 9256/1 586 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 6 9256/1 587 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 7 9256/1 600 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 8 9256/1 601 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 9 9256/1 552 75.16 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 10 9256/1 567 100.00 2011‐05‐02 Mawson Energi AB Gold

Ristiaapa 11 9256/1 568 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 12 9256/1 581 86.39 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 13 9256/1 582 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 14 9256/1 583 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 15 9256/1 569 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 16 9256/1 570 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 17 9256/1 584 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 18 9256/1 585 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 19 9256/1 598 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 20 9256/1 599 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 21 9256/1 595 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 22 9256/1 596 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 23 9256/1 597 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 24 9256/1 607 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 25 9256/1 608 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 26 9256/1 609 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 27 9256/1 618 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 28 9256/1 619 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 29 9256/1 620 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 30 9256/1 610 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 31 9256/1 611 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 32 9256/1 612 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 33 9256/1 613 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 34 9256/1 621 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 35 9256/1 622 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 36 9256/1 623 100.00 2011‐05‐02 Mawson Energi AB Gold Ristiaapa 37 9256/1 624 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 1 9256/1 300 53.43 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 2 9256/1 332 99.15 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 3 9256/1 333 58.23 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 4 9256/1 364 51.95 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 6 9256/1 365 40.85 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 5 9256/1 366 86.48 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 7 9256/1 367 14.53 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 8 9256/1 396 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 9 9256/1 397 91.57 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 10 9256/1 398 28.97 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 11 9256/1 427 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 12 9256/1 428 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 13 9256/1 429 83.37 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 14 9256/1 430 74.95 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 15 9256/1 465 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 16 9256/1 466 92.14 2011‐05‐02 Mawson Energi AB Gold

Ristijärvi 17 9256/1 500 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 18 9256/1 501 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 19 9256/1 524 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 20 9256/1 525 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 21 9256/1 543 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 22 9256/1 544 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 23 9256/1 460 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 24 9256/1 461 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 25 9256/1 462 83.93 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 26 9256/1 496 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 27 9256/1 497 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 28 9256/1 498 44.53 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 29 9256/1 463 91.82 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 30 9256/1 464 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 31 9256/1 499 94.73 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 32 9256/1 522 96.34 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 33 9256/1 523 96.19 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 34 9256/1 541 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 35 9256/1 542 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 36 9256/1 519 32.82 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 37 9256/1 520 98.85 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 38 9256/1 521 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 39 9256/1 538 30.16 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 40 9256/1 539 76.93 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 41 9256/1 540 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 42 9256/1 553 96.75 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 43 9256/1 554 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 44 9256/1 555 100.00 2011‐05‐02 Mawson Energi AB Gold Ristijärvi 45 9256/1 556 100.00 2011‐05‐02 Mawson Energi AB Gold

Appendix 2: List of Drill Holes Collars Drilled by Mawson to Date at Rompas

HoleID Easting Northing RL TotalDepth_m Dip AzimUTM AzimMag NROM001 3399475 7378557 107 4.95 90 0 0 NROM002 3399456 7378551 101 6 -90 0 0 NROM003 3399433 7378557 104 5.9 -90 0 0 NROM004 3399411 7378566 107 8.3 -90 0 0 NROM005 3399396 7378575 106 8 -90 0 0 NROM006 3399374 7378566 111 5.55 -90 0 0 NROM007 3399356 7373793.4 109 3.9 -90 0 0 NROM008 3399336 7378552 103 3 -90 0 0 NROM009 3399314 7378543 105 6.7 -90 0 0 NROM010 3399295 7378538 104 2.9 -90 0 0 NROM011 3399282 7378538 108 3.4 -90 0 0 NROM012 3399266 7378525 108 3.7 -90 0 0 NROM013 3399255 7378509 108 4.35 -90 0 0 NROM014 3399256 7378491 114 3.85 -90 0 0 NROM015 3399248 7378474 104 3.9 -90 0 0 NROM016 3399243 7378434 102 5.8 -90 0 0 NROM017 3399222 7378397 103 9.5 -90 0 0 NROM018 3399212 7378353 101 6 -90 0 0 NROM019 3399491 7378572 101 3.95 -90 0 0 NROM020 3399509 7378588 108 5.65 -90 0 0 NROM021 3399522 7378598 110 6.9 -90 0 0 NROM022 3399536 7378614 107 6.85 -90 0 0 NROM023 3399242 7378714 103 5.6 -90 0 0 NROM024 3399295 7378714 105 4.15 -90 0 0 NROM025 3399184 7378675 104 8.3 -90 0 0 NROM026 3399549 7378638 111 5.9 -90 0 0 NROM027 3399571 7378629 108 6.75 -90 0 0 NROM028 3399680 7378658 107 6.9 -90 0 0 PAL0001 3408870.91 7374466.52 175.5 110.95 -45.21042 135 126 PAL0002 3408912.42 7374424.43 175.5 98.75 -45.75039 135 126 PAL0003 3409829 7374326 176.78 14.05 -45 150 141 PAL0003B 3409831.82 7374325.78 176.78 160.5 -44.76463 150 141 PAL0004 3409864.74 7374268.77 176.5 121.5 -44.57162 150 141 PAL0005 3409943.94 7374361.77 176.4 51.55 -45 150 141 PAL0006 3409977.36 7374300.3 174.4 95.5 -43.845 150 141 PAL0007 3411300.22 7374683.19 175 104.3 -44.53772 150 141 ROM0001 3401494.864 7373294.549 166.838 82.9 -44.3 88.1 79.1 ROM0002 3401497.715 7373314.535 166.342 100.6 -43.6 77.6 68.6 ROM0003 3401488.371 7373275.138 167.332 109.6 -43.8 76.5 67.5 ROM0004 3401483.107 7373255.125 166.825 103.7 -43.6 83 74 ROM0005 3401455.426 7373293.267 161.883 82.76 -43.6 82 73 ROM0006 3401459.581 7373315.997 161.824 85.4 -43.4 88 79 ROM0007 3401443.902 7373255.397 162.053 109.8 -44.3 82.7 73.7 ROM0008 3401395.036 7373254.004 158.167 106.6 -43.1 9 74 ROM0009 3401365.772 7373766.491 190.962 86.05 -44.7 78.2 69.2 ROM0010 3401323.039 7373758.967 191.089 93.1 -44.9 79 70

ROM0011 3401340.789 7373793.602 191.957 151.4 -45.4 80 71 ROM0012 3401333.152 7373814.965 189.917 100.55 -44.4 76.6 67.6 ROM0013 3401392.085 7373770.58 189.339 75.4 -44.8 268 259 ROM0014 3401308.482 7373787.941 189.94 161.8 -44.6 81 72 ROM0015 3401308.069 7373756.15 189.71 97 -44.5 266.1 257.1 ROM0016 3401344.908 7373253.548 154.334 91.6 -45 89 80 ROM0017 3401302.294 7373757.025 189.503 62.4 -60 77 73.5 ROM0018 3401319.838 7373716.562 188.384 131.95 -44.8 242.3 233.3 ROM0019 3401294.771 7373254.099 152.323 98.2 -45 91 82 ROM0020 3401331.043 7373686.257 186.259 135 -44.7 263.1 254.1 ROM0021 3401243.807 7373254.01 151.634 93.9 -44.30654 79 70 ROM0022 3401381.111 7373739.387 189.197 181.1 -44.7 256 247 ROM0023 3401200.403 7373256.778 151.136 95.3 -44.16643 87 78 ROM0024 3401156.272 7373256.671 150.31 87.95 -44.15496 93 84 ROM0025 3401353.885 7373850.611 188.667 115.5 -45.3 261 252 ROM0026 3401098.465 7373268.88 151.345 106.6 -49.3476 90 82 ROM0027 3401262.768 7373294.963 151.966 84.95 -49.20051 88 79 ROM0028 3401375.234 7373806.666 191.337 172 -45.3 199.7 190.7 ROM0029 3401446.801 7373218.691 161.886 89.1 -45.2 83.6 74.6 ROM0030 3401464.863 7373176.314 162.964 95 -44.2 103.3 94.3 ROM0031 3401509.798 7373172.603 166.278 91.9 -45 85 76 ROM0032 3401477.307 7373124.092 164.253 100.8 -44.8 78 69 ROM0033 3401483.201 7373076.12 163.652 95.2 -44.4 77.2 68.2 ROM0034 3401433.193 7373079.118 160.654 152.7 -44.5 73.3 64.3 ROM0035 3401334.518 7373686.022 186.342 98 -44.4 79 70 ROM0036 3401333.801 7373685.936 186.461 102 -69.8 77.4 68.4 ROM0037 3401350.046 7373778.878 191.399 92.3 -49.7 77.5 68.5 ROM0038 3401539.486 7373293.416 170.84 143 -44.6 87.6 78.6 ROM0039 3401611.592 7373292.763 169.097 124.7 -45 81.5 72.5 ROM0040 3399438.69 7378411.24 122.7 65.4 -47.96791 57 48 ROM0041 3399452.31 7378394.25 124 50.55 -49.89961 58 49 ROM0042 3399422.77 7378400.87 119.4 107.5 -45.43017 57 48 ROM0043 3399418.8 7378430.19 119 90.2 -50.91549 60 51 ROM0044 3399429.78 7378378.43 119.6 95.45 -43.77038 63 54 ROM0045 3399428.52 7378440.37 119.6 60.1 -45.0598 57 48 ROM0046 3399417.12 7378455.72 117.8 66 -49.39079 57 48 ROM0047 3399407.78 7378449.83 117.6 87 -58.54478 57 48 ROM0048 3399392.94 7378439.9 115 102 -61.32865 61 52 ROM0049 3399469.96 7378376.74 124.7 39 -54.73199 61 52 ROM0050 3399461.47 7378373.53 124.5 88.7 -63.46928 61 52 ROM0051 3399486.16 7378355.32 128.4 59.4 -63.0239 60.5 51.5 ROM0052 3399503.41 7378369.65 125.19 89.3 -45.12707 237 228 ROM0053 3399488.39 7378388.14 122.76 115.4 -44.73397 238.5 229.5 ROM0054 3399477.28 7378408.23 121.2 92 -45.08082 240 231 ROM0055 3399463.14 7378433.64 122 106.55 -45.04617 239 230 ROM0056 3399455.79 7378453.68 120 102.45 -45.28687 239 230 ROM0057 3399332.85 7378478.36 111.53 100.4 -44.22511 57 48 ROM0058 3399388.17 7378517.33 110.05 91.5 -45.15515 57 48

ROM0059 3399290.47 7378455.05 105.85 22.2 -45 237 228 ROM0060 3399294.44 7378456.82 105.85 81.1 -45.60729 57 48 ROM0061 3399297.35 7378552.06 104.68 98 -45.60729 58 49 ROM0062 3399344.78 7378578.06 104.57 88.8 -45.11612 59 50 ROM0063 3399279.06 7378698.78 102.98 94.8 -44.76713 57 48 ROM0064 3399358.26 7378390.14 109.47 101.2 -44.979 60 51 ROM0065 3399327.9 7378341.59 106.9 103.7 -45.4531 57 48 ROM0066 3399288.53 7378313.68 105 100.3 -45.57835 57 48 ROM0067 3399367 7378365 110.7 103.6 -45.85448 57 48 ROM0068 3399352.44 7378302.61 106.72 60.5 -45 57 48 ROM0069 3401331.12 7373814.62 189.04 71.35 -65.49893 77 68 ROM0070 3401350.54 7373817.49 189.6 59.7 -49.89961 257 248 ROM0071 3401340.28 7373794.58 190.4 37.2 -55.17585 80 71 ROM0072 3401339.79 7373794.32 190.36 50.2 -68.26411 80 71 ROM0073 3401354.91 7373795.41 190.87 25.8 -45.16878 260 251 ROM0074 3401355.79 7373795.44 190.9 38.1 -65.62451 260 251 ROM0075 3401371.46 7373770.48 190.82 44.8 -64.08236 260 251 ROM0076 3401370.96 7373770.47 190.84 53.3 -45.50377 260 251 ROM0077 3401367.76 7373781.34 190.25 41.3 -45.43369 260 251 ROM0078 3401377.54 7373782.36 190 65.1 -49.96022 260 251 ROM0079 3401359.9 7373809.89 189.9 53.35 -45.32209 260 251 ROM0080 3401369.81 7373810.71 190.19 58.6 -44.9 259.8 250.8 ROM0081 3401370.08 7373810.8 190.19 62.9 -60.43586 260 251 ROM0082 3401374.51 7373832.07 189.49 92.5 -58.97061 260 251