Mawson Gold Limited announced 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 at 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. SDDSC082 contains the higher grades (up to 4,190 g/t Au) and includes three of the top five individual intersections at Sunday Creek: 13.1 m at 91.7 g/t Au from 413.6 m, 68.5m at 4.8 g/t Au from 506.3 m and 5.0 m at 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. Drill hole SDDSC082 331.5 m at 7.1 g/t AuEq (6.8 g/t Au, 0.2 %Sb) from 413.6 m (uncut) was drilled as a 180 m to 230 m down dip extension from SDDSC077B in the upper parts of the mineralized system, and lower in SDDSC082 up to 290 m down dip from SDDSC050 (305 m at 2.4 g/t AuEq, reported November 20, 2022). Mineralization in SDDSC082 extended from 331.5 m to 1,065.3 m down hole, for a total length of 733.8 m. On a grade-thickness basis, SDDSC082 (cumulative 2,418 AuEq g/t x m) is the best hole drilled on the project to date and exceeded SDDSC077B (cumulative 2,272 AuEq g/t x m) and SDDSC050 (cumulative 852 AuEq g/t x m).

Drill hole SDDSC082 is a significant expansion of the mineralized footprint. The hole hit continuous mineralization that can be extended from surface to 500 m depth and also drilled the deepest mineralization on the project to 1 km vertical depth (0.6 m at 20.0 g/t AuEq (16.4 g/t Au, 2.3 %Sb) from 1,064.5 m. SDDSC082 traverses 18 individual high grade vein sets (Figures 1-3). Seven intervals contained >100 g/t Au (up to 4,190 g/t Au), 20 intervals have >15 g/t Au up to 100 g/t Au and 7 intervals have >5% Sb (up to 24.3% Sb).

The hole was drilled parallel to the enveloping host breccia dyke but at a high angle to the predominant NW-SW high-grade vein trend. As the hole was relatively steeply drilled into the steep mineralised veins sets, the true thickness of the mineralised interval is interpreted to be approximately 40% to 50% of the sampled thickness. The very highest-grade interval (0.2 m at 4,190 g/t Au) was intersected in a previously undrilled vein on the undrilled western margin of the Rising Sun area.

It appears to form blind below a bulge in the dyke breccia host and is open down dip. Development of these grades 400 m vertically below the surface also suggests the super high-grade epizonal system is telescoping up to higher levels than previously thought (440 m compared to the previously thought 700 m depth) at Sunday Creek, opening further opportunities for bonanza high grades at shallow levels. Additionally, the area immediately west of this new vein is open to the west and to depth.

A complete list of significant intersections from SDDSC082 include: 13.1 m at 93.8 g/t AuEq (91.7 g/t Au, 1.3 %Sb) from 413.6 m, including: 1.7 m at 246.2 g/t AuEq (230.6 g/t Au, 9.9 %Sb) from 413.6 m; 0.2 m at 4,190 g/t AuEq (4190 g/t Au, 0.1 %Sb) from 418.4 m; 0.3 m at 11.0 g/t AuEq (10.9 g/t Au, 0.0 %Sb) from 471.7 m; 0.9 m at 42.9 g/t AuEq (42.3 g/t Au, 0.4 %Sb) from 480.6 m; 0.5 m at 6.2 g/t AuEq (6.2 g/t Au, 0.0 %Sb) from 494.3 m; 68.5 m at 5.3 g/t AuEq (4.8 g/t Au, 0.4 %Sb) from 506.3 m, including: 0.4 m at 18.8 g/t AuEq (18.7 g/t Au, 0.1 %Sb) from 515.2 m; m at 7.3 g/t AuEq (5.3 g/t Au, 1.3 %Sb) from 522.0 m; 0.7 m at 6.9 g/t AuEq (5.2 g/t Au, 1.1 %Sb) from 532.5 m; 0.5 m at 29.2 g/t AuEq (28.2 g/t Au, 0.6 %Sb) from 539.2 m; 1.7 m at 14.1 g/t AuEq (12.3 g/t Au, 1.2 %Sb) from 544.5 m; 5.4 m at 43.9 g/t AuEq (41.9 g/t Au, 1.3 %Sb) from 567.3 m; 5.0 m at 61.4 g/t AuEq (60.9 g/t Au, 0.4 %Sb) from 588.0 m, including: 0.4 m at 7.1 g/t AuEq (1.8 g/t Au, 3.4 %Sb) from 589.0 m; 0.9 m at 351.3 g/t AuEq (351.2 g/t Au, 0.0 %Sb) from 591.4 m; 21.7 m at 6.5 g/t AuEq (6.5 g/t Au, 0.0 %Sb) from 622.0 m, including: 0.6 m at 12.2 g/t AuEq (12.2 g/t Au, 0.0 %Sb) from 641.2 m; 0.4 m at 351.0 g/t AuEq (351.0 g/t Au, 0.0 %Sb) from 643.4 m; 31.1 m at 3.9 g/t AuEq (3.1 g/t Au, 0.5 %Sb) from 652.0 m, including: 1.0 m at 11.7 g/t AuEq (11.7 g/t Au, 0.0 %Sb) from 654.0 m; 1.6 m at 48.6 g/t AuEq (39.3 g/t Au, 5.9 %Sb) from 658.9 m; 1.1 m at 16.6 g/t AuEq (7.8 g/t Au, 5.6 %Sb) from 672.8 m; 17.0 m at 1.5 g/t AuEq (1.4 g/t Au, 0.0 %Sb) from 691.0 m, including: 1.0 m at 16.5 g/t AuEq (16.3 g/t Au, 0.1 %Sb) from 697.0 m; 9.9 m at 1.1 g/t AuEq (1.0 g/t Au, 0.1 %Sb) from 712.1 m, including: 0.2 m at 34.8 g/t AuEq (34.7 g/t Au, 0.1 %Sb) from 712.1 m; 9.5 m at 9.8 g/t AuEq (8.1 g/t Au, 1.1 %Sb) from 738.0 m, including: 2.3 m at 39.5 g/t AuEq (32.9 g/t Au, 4.2 %Sb) from 742.8 m; 4.0 m at 5.1 g/t AuEq (4.8 g/t Au, 0.2 %Sb) from 842.0 m, including: 1.0 m at 19.4 g/t AuEq (18.3 g/t Au, 0.7 %Sb) from 842.0 m; 3.6 m at 5.4 g/t AuEq (5.4 g/t Au, 0.0 %Sb) from 852.6 m, including: 0.4 m at 49.6 g/t AuEq (49.6 g/t Au, 0.0 %Sb) from 854.2 m; 1.0 m at 5.9 g/t AuEq (5.9 g/t Au, 0.0 %Sb) from 995.4 m, including: 0.3 m at 18.4 g/t AuEq (18.4 g/t Au, 0.0 %Sb) from 995.4 m; 0.1 m at 24.3 g/t AuEq (24.3 g/t Au, 0.0 %Sb) from 1,037.6 m; 0.6 m at 20.0 g/t AuEq (16.4 g/t Au, 2.3 %Sb) from 1,064.5 m. Additionally, a further 5 holes (SDDSC080, 81, 84, 87, 88) are reported here from a shallower fan of drilling at Rising Sun. These holes were drilled from the NE to SW and tested only one mineralised vein set each, for a total of three veins. All holes hit gold, except SDDSC088 which was drilled into a newly defined fault (the Monarch Fault) that offsets mineralisation.

Highlights included: SDDSC080: 3.0 m at 11.7 g/t AuEq (11.0 g/t Au, 0.4 %Sb) from 305.0 m; 0.9 m at 5.7 g/t AuEq (4.9 g/t Au, 0.5 %Sb) from 318.0 m; SDDSC081: 8.1 m at 7.5 g/t AuEq (5.2 g/t Au, 1.4 %Sb) from 289.0 m, including: 0.7 m at 75.2 g/t AuEq (52.3 g/t Au, 14.5 %Sb) from 289.0 m; 0.2 m at 30.9 g/t AuEq (14.6 g/t Au, 10.3 %Sb) from 294.7 m; SDDSC084: 2.3 m at 3.3 g/t AuEq (3.3 g/t Au, 0.0 %Sb) from 245.8 m, including: 0.4 m at 15.1 g/t AuEq (15.1 g/t Au, 0.0 %Sb) from 246.5 m; SDDSC087: 0.8 m at 12.8 g/t AuEq (12.8 g/t Au, 0.0 %Sb) from 222.9 m; 5.7 m at 1.3 g/t AuEq (1.2 g/t Au, 0.0 %Sb) from 230.3 m, including: 0.4 m at 10.2 g/t AuEq (9.5 g/t Au, 0.5 %Sb) from 230.3 m.