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Geological Map of the Flistjärn Area

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Sampling has encountered high uranium oxide grades from surface outcrops at Flistjärn. Significant values from grab and channel samples include 19.1%, 13.2% and 10.4% U3O8.

A series of high grade uranium mineralized structures were mapped and grab or channel sampled within an area of 450 metres by 600 metres. Of the 36 samples taken along mineralized structures, 30 samples assayed from 0.01% to 19.1% U3O8 and averaged 1.7% U3O8. Where channel samples were taken, the mineralized structures were sampled across widths which varied between 0.2 and 0.5 metres. Seven samples or 23% percent of samples assayed higher than 0.5% U3O8 and averaged 6.9% U3O8.

The 200 Ha Flistjärn nr 1 is 100% owned by Mawson Sweden AB (a 100% subsidiary of Mawson Resource Ltd).

Two additional 100% owned permits were applied for in March 2006, Flistjärn nr 2 (337 hectares) and Flistjärn nr 3 (194 hectares). These new areas extend the coverage of the mineralized target zone target to 4.6 kilometres, with the total land holding tripling from 200 hectares to 730 hectares.

The County of Jämtland close to the Norwegian border in North Central Sweden.

Flistjärn was discovered by the Swedish Geological Survey during a five year program initiated in 1977 to evaluate Sweden's self-sufficiency with respect to uranium, financed by the Svensk Kärnbränsleförsorjning AB or Swedish Nuclear Fuel Supply Company ("SKBF"). Mawson released results from its first sampling program in December 2005.

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Alpha Track Radon Survey from the Flistjärn Project

Uranium mineralization at Flistjärn lies on the south-western extension of a 14 kilometre long lineament which hosts a number of uranium prospects including Mawson's Sjaule uranium project.. Mineralization at Flistjärn is interpreted as vein and unconformity-related (or "Athabasca"-style), hosted by a block of Paleozoic sediments thrust over Precambrian volcanics. The project is located in the County of Jämtland close to the Norwegian border.

Geological mapping and an Alpha Track radon cup detector survey have recently been completed at the prospect over an area of 1100 metres by 750 metres. This work was undertaken where previous sampling discovered high grade uranium from a series of mineralized structures. Alpha Track detectors measure the abundance of radon gas in soil, which is emitted as a daughter product during the natural decay of uranium. Results show a continuous 300 metre long anomaly above a major structural unconformity, associated with a sandstone-bearing unit within a Paleozoic thrust slice. Results from the extreme north western and south eastern end of the grid extend the anomaly over 1 kilometre.

A series of high grade uranium mineralized structures were mapped and grab or channel sampled within an area of 450 metres by 600 metres. Of the 36 samples taken along mineralized structures, 30 samples assayed from 0.01% to 19.1% U3O8 and averaged 1.7% U3O8. Where channel samples were taken, the mineralized structures were sampled across widths which varied between 0.2 and 0.5 metres. Seven samples or 23% percent of samples assayed higher than 0.5% U3O8 and averaged 6.9% U3O8.

Individual fracture zones dip sub-vertically, trend northeast-southwest, and could be traced in outcrop for up to 450m along strike. The south western extent of the principal structure was limited by boulder scree masking outcrop. Each structure is comprised of a composite set of veins and fractures across a total width of up to 2 metres, whilst additional uranium occurrences exist in structures perpendicular to the main fracture network, parallel to the thrust which divides the Paleozoic and Precambrian age sequences. Mineralization occurs as a vein fill of colloform pitchblende with lesser pyrite, chalcopyrite and galena. Samples from the current program were measured with a gamma radiation detector and subsequently assayed by XRF and ICP methods at ALS and Activation Laboratories in Vancouver and Ancaster.

A 35 metre wide sandstone-bearing unit forms the basal sequence of the Paleozoic thrust slice, lying unconformably above Precambrian volcanics and below a Paleozoic phyllite sequence. All sequences in the Paleozoic thrust slice are cross-cut by uranium mineralized fractures, which are best developed where the fractures intersect the basal sandstone.

World Nuclear Association Brief on Sweden

Sweden has an estimated 15% of the world's uranium deposits. Ten nuclear power reactors provide approximately 50% of its electricity.

Swedish mining legislation allows exploration for uranium and places no special restriction on mining where the uranium grade is less than 200 ppm or the production is less than 5 kg. When higher uranium grades are present, permitting will follow a process concerning "nuclear technical activity". Such permitting must pass before the Swedish government for decision making.

Sweden has been an enthusiastic supporter of measures to improve world environmental quality. Among many others, Sweden in 1992 committed itself to stabilise carbon dioxide emissions at 1990 levels by 2000, and this was reaffirmed in Berlin in 1995. The fact that those levels in 1990 were only 60% of 1970's was due to nuclear energy replacing most oil for electricity generation.

Both the Energy Commission report and that of an independent economist, W.D.Nordhaus, project that a full nuclear phase-out would increase Sweden's carbon dioxide emissions by about 50% above the 1990 level. This is why European Union proposals for 1997 climate change negotiations allowed for a 5% increase in Sweden's emission levels due simply to the proposed Barsebäck reactor closure.

One problem with closing any reactor is that in the short run the replacement generation or imports would be fossil fuelled. Local back-up capacity is mostly oil-fired, as indicated in the 1996 figures when hydro production was much less than normal.

Sweden has its nuclear waste management well in hand. A dedicated ship moves the wastes from power plants to repositories. Some low-level waste is disposed of at reactor sites, some is incinerated at Studsvik. A final underground repository for intermediate-level waste (SFR) has been operating near Forsmark since 1988. The CLAB interim repository for spent fuel (treated as high level waste) has been operating since 1985 at Oskarshamn, and its 5000 tonne capacity is being expanded to 8000 tonnes to cater for all the fuel from all the present reactors. The spent fuel is stored under water in an underground rock cavern for some 40 years. It will then be encapsulated in copper and stainless steel canisters for final emplacement packed with bentonite clay in a 500 metre deep repository in granite.

The discovery of high-grade uranium at surface demonstrates the potential for vein and Athabasca-style uranium bodies at Flistjärn. Surface sampling, mapping, grid based gamma radiation detector surveys and drilling are scheduled for 2006 to target mineralization in the fractures and within sandstone units that are known to strike for greater than 1 kilometre immediately above the Precambrian unconformity.