Project

Mawson has applied for claims over the Saramäki uranium project in central Finland.

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Mawson Uranium Claim Reservations in Finland

Ownership

The claims remain in the application stage. A full description of Finnish Mining Law can be download here.

Location

The Saramäki 1 and 2 claim reservations are located in the Nilsiä district of eastern Finland and cover a uranium mineralized boulder and outcrop trend that extends over 5 kilometres.

History

At Saramäki fifteen uranium bearing boulders and 25 uranium bearing outcrops have been identified within the area. The host rock to mineralization is an apatite bearing gneiss. Eight holes were drilled within the claim reservation between 1965 and 1977 by Outokumpu Oy and the Geological Survey of Finland, which failed to locate the source of the uranium mineralized boulders.

History

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 Areva NC (formerly Cogéma), 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

Exploration for uranium in nuclear-friendly Finland utilizing the existing resources of our Swedish operations is a logical move, as we expand our uranium exploration activities throughout Europe. Mawson will continue to interrogate the historical records of the five exploration claim areas in the Geological Survey of Finland.