Mawson’s Subsidiary SXG Intersects 0.6 m @ 161.6 g/t AuEq (87.6 g/t Au, 46.8 %Sb) from new vein, at Sunday Creek, Victoria, Australia

Highlights include 0.6 m @ 161.6 g/t gold equivalent (“AuEq”) (87.6 g/t gold (“Au”), 46.8 % antimony (“Sb”)) from 415.7 m in SDDSC067, drilled into a new vein west of the Rising Sun area, indicating the prospectivity and opportunity for further high-grade discoveries across the Sunday Creek project, with a majority of the core area undrilled to date.

Sunday Creek is 100% owned by Southern Cross Gold (“SXG”), which is an ASX-listed company owned 51% by Mawson.

Highlights:

• Six drillholes are reported with some of the highest grades of antimony (up to 54.0% Sb) and gold (up to 140.0 g/t Au) on the project. All holes demonstrate continuity of mineralised structures from near surface to 700 m vertical depth.
• SDDSC067 drilled a new vein to the west of the Rising Sun vein, previously only intersected by SDDSC050. SDDSC067 was drilled 115 m above SDDSC050 and highlights the continuity of mineralised structures at Sunday Creek. Highlights included:

• 0.6 m @ 161.6 g/t AuEq (87.6 g/t Au, 46.8% Sb) from 415.7 m, including:

– 0.1 m @ 170.5 g/t AuEq (140.0 g/t Au, 19.3% Sb) from 415.7 m
– 0.5 m @ 159.3 g/t AuEq (74.0 g/t Au, 54.0% Sb) from 415.8 m

• SDDSC069 tested the Windsor Castle vein east of Rising Sun. The hole was drilled perpendicularly across SDDSC053 and demonstrated continuity of higher-grade mineralisation. Highlights included:

• o 2.1 m @ 6.2 g/t AuEq (5.0 g/t Au, 0.7% Sb) from 294.4 m, including:

– 0.4 m @ 24.7 g/t AuEq (21.0 g/t Au, 2.3% Sb) from 294.4 m

Noora Ahola, Mawson Interim CEO, states: “These high-grade antimony and gold results are again a remarkable indication of what’s still to be discovered at Sunday Creek Project. Hole by hole the project is developing for SXG into a significant project, which adds significantly to Mawson’s underlying value.”

Further information is attached

Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, Mawson’s expectations regarding its ownership interest in Southern Cross Gold, capital and other costs varying significantly from estimates; changes in world metal markets; changes in equity markets; the potential impact of epidemics, pandemics or other public health crises on the Company’s business; risks related to negative publicity with respect to the Company or the mining industry in general; exploration potential being conceptual in nature; there being insufficient exploration to define a mineral resource on the Australian-projects owned by SXG; and uncertainty if further exploration will result in the determination of a mineral resource; planned drill programs and results varying from expectations; delays in obtaining results; equipment failure; unexpected geological conditions; local community relations; dealings with non-governmental organizations; delays in operations due to permit grants; environmental and safety risks; and, other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson’s most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.