Project



Mawson hold one granted claim for 100 hectares over the Mustamaa uranium project in northern Finland.

Ownership

100% Mawson Energi AB

Location

The Mustamaa uranium claim application is located in the Tervola district of Northern Finland.

History

Uranium mineralization was first discovered at Mustamaa in 1978 by Rautaruukki Oy, during the ground follow up of a regional airborne radiometric survey. Rautaruukki Oy completed detailed outcrop and boulder mapping, applied various geophysical methodologies and assayed 26 radiometric boulders ranging from 0.01% uranium oxide ("U₃O₈") to 0.26% U₃O₈ and 0.7% phosphate ("P2O5) and 22.6% P2O5 and averaging 0.065 % U₃O₈ and 7.0% P2O5.

In 1979, Rautaruukki Oy identified a uranium mineralized horizon, which was drill tested with 13 diamond drill holes. Holes were spaced along a 500 metre strike and intersected a uranium horizon which remains open both along strike and at depth. Mawson has access to all previous publically available exploration data and drill core from the Geological Survey of Finland and Outokumpu Oy. Better drill intersections included:

• R13: 55.4m @ 0.03% U₃O₈ from 104m,
  including 4.1m @ 0.08% U₃O₈ from 120m
• R10: 18.1m @ 0.03% U₃O₈ from 65m,
  including 8.4m @ 0.04% U₃O₈ from 73m

Uranium at Mustamaa is locally hosted by a breccia unit. The breccia is contained within greater than500 metre long and up to 40 metre wide apatite bearing dolomite horizon. Mineralization is developed both within dolomite, and intercalated chlorite schist. The style of uranium mineralization is similar to Mawson's 100% owned Nuottijärvi 1 claim application, located 260 kilometres to the south east.

World Nuclear Association Brief on Finland

• Finland has four nuclear reactors providing 27% of its electricity.
• A parliamentary vote in May 2002 supported the building of a fifth reactor, on economic, energy security and environmental grounds. This is now under construction for 2009 start-up.
• Finland is well advanced with provisions for radioactive waste disposal.

Finland is a politically stable country with an excellent infrastructure and an established and diverse mining industry. Governmental uranium exploration began in the 1950's and continued until the mid 1980's. The Finnish government is presently expanding its nuclear energy production by building the world's largest nuclear reactor at Olkiluoto. Four nuclear power plants are currently in operation and nuclear power accounts for 27% of electricity in Finland. Companies currently exploring for uranium in Finland include Agricola Resources Plc, Belvedere Resources Ltd, Cooper Mineral Inc. and Scandinavian Gold Prospecting Ltd. Legislation to permit mining is in place and would be subject to a concession granted by the Finnish government.

Conclusion

Mustamaa is located approximately 20km south of the Rompas claims along the same structural trend. Mawson is exploring Mustamaa for the potential to host gold and uranium mineralization.