Mawson Resources Ltd. (TSX: MAW, Frankfurt: MRY) – Initiating Coverage; Gold, Uranium in Scandinavia and Peru; Strong Cash Position

Investment Highlights

• Mawson Resources Ltd. is a TSX-listed exploration company focused on developing the high grade Rompas gold-uranium deposit in northern Finland and the high grade gold-copper Alto Quemado project insouthern Peru.
• The Rompas deposit is a relatively new discovery identified in 2008 by AREVA (Paris: CEI). We believe the Rompas property has excellent upside potential, perhaps the highest of any early stage project under FRC’s coverage. We are excited to see the results of the future exploration programs. AREVA currently holds 11% of MAW’s shares, plus an option to purchase an additional 8% by exercising warrants.
• The Alto Quemado project has experienced six years of small scale mining from 2001 to 2007, but has only been subject to minimal exploration and has never been drilled.
• The company’s project portfolio also includes various uranium exploration projects in Sweden and Finland including the Kläppibäcken deposit which hosts an NI 43-101 indicated resource of 3.3 million pounds of U3O8 at a grade of 0.08% U3O8. Two other properties owned  by the company also have resource estimates.
• Management owns approximately 14% of MAW’s shares.
• Cash alone accounts for $0.24 per share.

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