Mawson Gold Limited announced the commencement of the 2022 winter drill program at its Rajapalot gold-cobalt project in northern Finland, with the arrival of the first diamond drill rig on site. An 8,000 metre drill program is planned over the next 4 months. Drilling commenced at Rajapalot on January 11, with a second rig planned to mobilise in week commencing 17th January as part of an 8,000 metre planned winter program.

After two years of sharp focus to drill out resources, Mawson's exploration lens has returned back to a regional scale within its 100%-owned large and strategic 18,349 hectare ground holding in the Peräpohja Schist belt. The drill program leverages the intimate understanding of the mineral system defining the 1.04 Moz @ 3.0 g/t gold equivalent ("AuEq") 2021 Inferred Mineral Resource estimate (link) to demonstrate the camp- scale opportunity to grow resources at Rajapalot, through focusing on targets that are distinct from the resource areas. Target priorities consider the full suite of exploration data gathered on the project, including base of till, outcrop andboulder sampling, magnetics, induced polarization, and electromagnetic surveys.

Mawson holds first mover advantage into the Peräpohja Schist belt with its gold-cobalt discovery. Adjacent tenure holders to Mawson include Rio Tinto, First Quantum and Latitude 66 Cobalt.