SXG Drills 331 m @ 6.8 g/t Gold (Uncut) Traversing 18 High-Grade Veins 200 m Down Dip Extension from Previously Announced Results, Best Hole to Date

7 Intersections >100 g/t Gold, up to 4,190 g/t Gold Rising Sun Area Remains Open with Assays Pending for 18 Holes

Photo 1: SDDSC082 from 418.6 m (within assayed interval 0.2 m @ 4,190 g/t AuEq (4,190 g/t Au, 0.1% Sb) from 418.4 m to 418.6 m (Table 3)) showing visible gold within and quartz-carbonate and stibnite vein. Millimetre scale

Photo 2: SDDSC082 from 592 m (within assayed interval 0.9 m @ 351.3 g/t AuEq (351.2 g/t Au, 0.0% Sb) from 591.4 m to 592.3 m (Table 3)) showing uncut core with quartz-carbonate massive vein with visible gold. Millimetre scale.

Photo 3: SDDSC082 from 744 m (within assayed interval 0.7 m @ 88.9 g/t AuEq (78.2 g/t Au, 6.8% Sb) from 744.0 m to 744.6 m (Table 3)) showing cut core with brecciated dioritic dyke, with stibnite and quartz-carbonate veining with fine, disseminated frequent visible gold in stibnite. Note lime green fuchsite in altered dyke. Top to bottom 40 mm scale.

Figure 1: Sunday Creek plan view showing SDDSC082 reported here (red box), selected prior reported drill holes and pending holes. For location see Figure 5.

Figure 2: Sunday Creek longitudinal section across C-D the plane of the dyke breccia/altered sediment host (see Figure 1) looking towards the north (striking 327 degrees) showing mineralized veins sets. SDDSC082 reported here, with restricted visible gold intersections and prior reported drill holes shown.

Figure 3: Sunday Creek cross section A-B (25 m influence) (see Figure 1) across one vein set at the Rising Sun area looking towards 330 showing continuity from surface to 550m depth SDDSC082 and prior reported drill holes. Note step out from SDDSC077B and SDDSC082 is 180m in plane of this vein.

Figure 4: Sunday Creek regional plan view showing LiDAR, soil sampling, structural framework, regional historic epizonal gold mining areas and broad regional areas (Tonstal, Consols and Leviathan) tested by 12 holes for 2,383 m drill program. The regional drill areas are at Tonstal, Consols and Leviathan located 4,000-7,500 m along strike from the main drill area at Golden Dyke- Apollo.

Figure 5: Location of the Sunday Creek project, along with SXG’s other Victoria projects and simplified geology.

(PresseBox) (Vancouver, Canada, 10/24/2023)

Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF - https://www.commoditytv.com/... ) announces the best hole drilled to date, SDDSC082, at SXG’s 100%-owned Sunday Creek Project in Victoria, Australia, a spectacularly wide and high grade intersection of gold-antimony mineralization of 331.5 m @ 6.8 g/t Au from 413.6 m (uncut) in a 180 m to 290 m (average 200 m) down dip extension of a previous drilled mineralized zone (Figure 5).

SDDSC082 contains the highest grades (up to 4,190 g/t Au) and includes three of the top five individual intersections at Sunday Creek: 13.1 m @ 91.7 g/t Au from 413.6 m, 68.5m @ 4.8 g/t Au from 506.3 m and 5.0 m @ 60.9 g/t Au from 588.0 m. Seven assayed intervals have >100 g/t Au (up to 4,190 g/t Au), 20 assayed intervals have >15 up to 100 g/t Au and seven intervals have >5% Sb (up to 24.3% Sb).

Sunday Creek is 100% owned by Southern Cross Gold (“SXG”), which is an ASX listed company owned 51% by Mawson. Four rigs continue to drill in the main drill area at Sunday Creek where 18 holes (SDDSC079, 83, 85-86, 88-99, 101, 103) are currently being geologically processed and chemically analyzed, and four holes (SDDSC0100, 102, 104, 105) are in drill progress (Figures 1-2).

Please find further information in the attachement.

Attachments

24102023_EN_MAW231023[72].pdf

SXG Drills 331 m @ 6.8 g/t Gold (Uncut) Traversing 18 High-Grade Veins 200 m Down Dip Extension from Previously Announced Results, Best Hole to Date

7 Intersections >100 g/t Gold, up to 4,190 g/t Gold Rising Sun Area Remains Open with Assays Pending for 18 Holes

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