TSX : MAW; OTCPINK : MWSNF www.mawsonresources.com @mawsonresource

High Grade Gold-Cobalt Resource Expansion in Finland

Corporate Presentation

March 02 2019

Accuracy of Information: Readers are directed to the public disclosure of Mawson Resources Limited (“Mawson”) available

under Mawson’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.

Information contained in this presentation was believed to be accurate at the time it was posted, but may be superseded by

more recent public disclosure of Mawson. Mawson makes no representations or warranties as to the accuracy, reliability,

completeness or timeliness of the information in this presentation.

Forward-Looking Information: Some of the statements contained in this presentation may be forward-looking statements or

forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All

statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that

such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking

statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar

expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking

statements are not guarantees of future results or performance, and that actual results may differ materially from those in

forward-looking statements as a result of various factors, including, but not limited to, capital and other costs varying

significantly from estimates, changes in world metal markets, changes in equity markets, planned drill programs and results

varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community

relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety

risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual

Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and,

except as may be required by applicable securities laws, Mawson does not assume the obligation to revise or update forward-

looking statements or information that may be contained in this presentation or to revise them to reflect the occurrence of

future unanticipated events.

Qualified Person: The qualified person for Mawson’s projects, Nick Cook, President for Mawson, and a Fellow of the

Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this presentation.

2

Disclaimer

02 March 2018

Finland – New Discoveries

3

2015

Diamond drilling ROM0011: 6 m @ 617 g/t Au

20122011

PAL00931 cm

20182017

Gold

4

▪ Significant and strategic regional-scale gold-cobalt discovery in

Northern Finland

▪ Top three in-country gold resources and growing fast

▪ Constrained Inferred Mineral Resource of 424,000 ounces of

gold at 3.1 g/t AuEq (Dec 2018)

▪ Open-pittable grade 2.8 g/t AuEq and UG grade 5.2 g/t AuEq.

▪ Substantial potential to grow, with only 20% (800m) of the 4km

trend to shallow depths (av. depth drilling 88m)

▪ 15,000 metre resource expansion drill program underway

▪ Fully financed for this drill season

▪ Strategic & institutional shareholder base +60% (incl.

Goldcorp, Areva, private equity and US endowments)

Investment Highlights

5

Capitalization Summary Major Shareholder Summary

Management & Board aligned with investors

Share Price (02 Mar. 2019) C$0.23

Basic Shares Outstanding 141.6M

Fully Diluted 171.9M

Basic Market Capitalization C$32.6M

Cash (est. 02 Mar. 2018) C$5.5M

TOTAL ENTERPRISE VALUE C$27.1M

Shares (M) %

Sentient Equity Partners 37.8 26.7

Goldcorp 18.0 12.7

Other Institutions 34.6 24.4

TOTAL 90.4 63.8

Insiders 7.3 5.1

Warrants and Options

Stock Options

23 Sep ’19 $0.35 4,620,000

12 May ’20 $0.365 50,000

15 Jun ’20 $0.39 400,000

Warrants

02 Dec ’19 $0.60 7,500,000

08 Dec ’19 $0.44 773,702

08 Dec ’19 $0.50 7,512,933

14 Feb ’20 $0.65 9,500,000

Share Price Performance – 1 Year

Exchanges: TSX : MAW; OTCPINK : MWSNF; Frankfurt : MXR

Ownership & Capital Structure

Discovery is About Leadership

6

Michael Hudson

Chairman & CEO

28 yrs Geology, Capital

Markets

Dr. Nick Cook

President

24 yrs Geology

Noora Ahola

Environmental Director

12 yrs Finnish Env.

Administration

Mariana Bermudez

Corporate Secretary

Tapani Hyysalo

Manager Operations Finland

Nick Demare

CFO

Noora Ahola

Environmental

Nick DeMare

CPA

David Henstridge

Geologist

Michael Hudson

Geologist

Colin Maclean

Geologist / Finance

Mark Saxon

Geologist

Philip Williams

Corporate Finance

Directors Management Advisers

Georgina Carnegie

World Bank, OECD

Dr. Erkki Vanhanen

Finnish Gold Exploration

Gil Leathley

Mining Engineer

7

The World´s Highly Prospective Mineral Regions

Map by Risto Pietilä

Finland is the new “Klondike”, new discoveries, shallow cover, entry of significant players

Nordics: Rocks & Opportunity

▪ Metal basket of Europe

▪ +500 year history,

many Tier 1 projects

▪ Reformation since early

1990’s. Clear guidelines

8

▪ Safe

▪ Cheap Grid Power

▪ Water

▪ Roads

“The top jurisdiction in the world for

investment based on the Investment

Attractiveness Index is Finland.”

Huge Benefits for Developers

Investment Attractiveness Index

▪ Skilled workforce

▪ Airport

▪ No FIFO

▪ 20% tax

7.4Moz Au

Kittilä mine

Finland is a Mining Country

100 km

Finland hosts the largest primary gold producer in Europe

Kittilä Snapshot

9

Main gold-

cobalt work

focused to date

Rompas-Rajapalot Prospect Locations

10

Resource Upside Evident and Growing

▪ A pit and underground Constrained Inferred Mineral

Resource of 424,000 ounces at 3.1 g/t AuEq (4.3 million tonnes at

2.3 g/t Au, 430 ppm Co) at 0.37 g/t AuEq cut-off open pit and 2 g/t

AuEq underground

▪ Unconstrained Inferred Mineral Inventory for the Palokas and Raja

prospects of 482,000 ounces 2.4 g/t AuEq (6.2 million tonnes at 1.7

g/t Au, 410 ppm Co) at 0.4 g/t AuEq cut-off.

▪ The constrained resource demonstrates the high-grade of Rajapalot

with open-pittable grades of 2.8 g/t AuEq (2.1 g/t Au and 420 ppm

Co) and underground grades of 5.2 g/t AuEq (4.4 g/t Au and 520

ppm Co)

▪ First resource estimate has potential to grow substantially:

▪ only 20% (800 metres) of the 4 kilometres known mineralized

trend included within the maiden resource to relatively shallow

depths (average depth of drilling 88 metres within 34.2

kilometres drilled to date at Rajapalot)

▪ Electromagnetics (EM) driving targeting below and along strike from

resource areas

11

Rajapalot EM Drives Resources Expansion

Raja Maiden Resource Block Model

Rumajärvi/

PAL0037: 19.5m @ 2.1 g/t AuEq from 20.5m

PAL0040: 8.0m @ 1.6 g/t AuEq from 35.3m

TEM Plates

extending

resource area

+1km length

The Hut

PAL0033: 2.2m @ 7.9 g/t AuEq from 152.5m

Area of ground fixed loop

TEM survey underwayTEM Plates

extending

resource area

down dip 450

metres

Palokas Maiden Resource Block

Model

Unconstrained Inferred Mineral

Inventory for the Palokas and Raja

prospects of 482,000 ounces 2.4 g/t

AuEq (6.2 million tonnes at 1.7 g/t Au,

410 ppm Co) at 0.4 g/t AuEq cut-off

South Palokas

Raja

12

South Palokas Long Section – View 030

13

Ground Fixed Loop EM conductor extends to +1km down plunge from surface

BB’

Longitudinal Section: Raja Prospect

AuEq g/t

14

Resource Upside Evident

Raja

Longitudinal View to NE Grade Block Model

and TEM PlatesAuEq g/t

Conductors continue to depth, below resource block models

South Palokas

Cross Section TEM Plate and Block Model

100 metres

PAL0016: 8.4 m @ 5.9 g/t AuEq

from 206m

100 metres

NW

VTEM Plate

TEM Plate

SE

Open

Open

15

Finland’s Strategic Cobalt

▪ Finland refines half the world’s cobalt outside of China. The world’s largest cobalt refinery islocated 400 kilometres to the south of Rajapalot

▪ CRU estimates refining of 22,734 tonnes of cobalt in Finland (2017) (or 18.4% of world refinedcobalt production of ~123,000 tonnes), with 90% of Finnish refined cobalt sourced from severalChinese-owned mines in the DRC

▪ Meanwhile, Finland mines just 650 tonnes or 0.5% of the world's cobalt

▪ Finland and Sweden are on the hunt for an ethical sources with a traceable ledger for cobalt,considered crucial for achieving climate goals. Mawson can support Finland’s ethical andsustainable needs.

New Exploration Technologies

EU contribution:€6,901,276

Mawson Participant

▪ Excellent results of total 95% - 99% (average 97%) obtained by a combination of gravity (26-48%) and conventional cyanidation**SGS Cornwall

16

▪ Mineralogical work shows cobalt hosted in cobaltite (85% mass) and linneate (15% mass) in certain areas and cobalt pentlandite only in other areas

Rajapalot Gold Metallurgical Test Work

Possible Implications for Mineral Processing Options

17

▪ Estimated grain size:

▪ Au – 5-20 micron (>50 micron)

▪ Cobaltite 40

▪ Linnaeite 20 micron

▪ Locked Cycle Test Work Planned Q2 2019

▪ Work completed in

association with Camborne

School of Mines, Geological

Survey of Finland

Rajapalot Cobalt QEMSCAN

24 Month Technical Program

18

MayMarFebJanDecNovSeptAugJulJun Oct Apr

Summer Work Winter Work

GTK Geometallurgy

7000 Cobalt Re-assays

EM Geophysics

Rajapalot

Maiden Resource

Metallurgy Testwork Au/Co

15km drilling, resource Expansion esp. Raja at

depth

2018 2019

MayMarFebJanDecNovSeptAugJulJun Oct Apr

Summer Work Winter Work

Resource Upgrade

2019 2020

Summer Diamond Drilling

Hirvimaa/ Männistö

Environmental Permitting

Drilling – Resource Expansion

Resource

Upgrade

Summer Diamond Drilling

Hirvimaa/Männistö

6 month budget: C$5M

Explore, Discover and Develop

19

▪ Mawson team has a strong track record

▪ Creation of C$500M combined market cap. during last cycle through discovery,

acquisition, corporate restructuring and relationships:

▪ Discovery 4th largest global HREE resource

▪ New gold camp Finland

▪ Graphite mine reopen

▪ Large zinc discovery Peru, zinc resource expansion Ireland

20

▪ Poised to capitalize on increased interest in Finnish

exploration

▪ 15,000 resource expansion underway

▪ Active drill programs and fully financed

▪ Significant and strategic regional-scale gold-cobalt

discovery in Northern Finland

▪ Substantial potential to grow, with resource only

representing 20% (800m) of the 4km trend to shallow

depths (av. depth drilling 88m)

▪ Strategic & institutional shareholder base +60% (incl.

Goldcorp, Areva, private equity and US endowments)

Summary

21

MAWSON RESOURCES LTD

INVESTOR RELATIONS (CANADA)

MAWSON OY

SUOMI (FINLAND)

Mariana Bermudez

- Corporate Secretary

Tel: +1 (604) 685 9316

Fax: +1 (604) 683 1585

info@mawsonresources.com

Noora Ahola

Environmental Director

Ahjotie 7, 96320 Rovaniemi,

Finland

nahola@mawson.fi

Contact Us

Kittilä Timeline

1986

Discovery GTKVisible Gold SSW

Suurikuusikko

1986

01

77 drill holesTwo campaigns 9319m

1987-1997

02

1996

0.285 Moz1.5Mt @ 5.9 g/t Au

(285K Oz Au)

1997

03

AgnicoAcquisition

2005

US$150 million

05

RiddarhyttanPublic tender

April 1998

04

2016

07

MineDecision

2006

468 drill holes143km

1998-2005

06

2.6 Moz16Mt @ 5.1g/t Au

2007

08

7.4 Moz26.9Mt @ 4.7g/t Au

2007

10

2006

09

575 drill holes140 km

2006-2008

PIVOT

5.7 Moz Au

2008ML 2003

First Resource Published

23

Comparables

Aurion Resources Ltd (TSXV:AU) C$89.5Mwww.aurionresources.com

Rupert Resources Ltd (TSXV:RUP) C$103.2Mwww.rupertresources.com

Mawson Resources Ltd (TSX:MAW) C$32.8Mwww.mawsonresources.com

02 Mar. 2019

24

22 metres @ 2.9 g/t AuEq, 1.5 g/t Au, 662 ppm CoOriginal Assay 9.0 m @ 3.2 g/t Au

AuEq % increase 114%

▪ Combined gold-cobalt mineralized intersections display increased widths and often show better continuity

▪ Cobalt mineralization is hosted in cobaltite and cobalt pentlandite that are conventionally mined and processed in other deposits

Cobaltppm

Gold Eqppm

Goldppm

LithologyCode

DownholeDepth (m)

Au/Co Distribution: Drill Hole PRAJ0110

▪ 82% of the Rompas-Rajapalot project lie outside of Natura areas

▪ Natura 2000 sites cover about 14% of Finland, 18% of the EU's

land area and approximately 30% of Northern Finland

▪ Mawson ARE permitted to complete all exploration in Rajapalot

Natura zones – 15 year permit with 3 year renewals

▪ The next step required will come at mining where we may need

biodiversity offsets within Natura areas

(20% of exploration permit area)

25

▪ There are mining projects that have been permitted

and are in production including Krumovgrad,

Prosper Haniel and Mechelse Heide Zuid

▪ Anglo American is currently permitting the Sakatti

Ni-Cu-PGE project in Natura for mining in Finland

Finland, Mawson & Natura