Mawson Gold Limited announced that four diamond drill rigs are now at site to complete the 2021 resource expansion drill program at the Rajapalot gold-cobalt project in northern Finland. A total of 20,000 metres of diamond drilling is planned to be completed by mid-April 2021. Key Points: drill rigs are now in operation to complete 20 kilometres of resource expansion drilling; The program aims to significantly expand the current 716,000oz AuEq inferred resource. This will be achieved by: Infill and extend high-grade zones within current resource areas, including for example around Palokas drill holes PAL0228: 7 metres @ 17.0 g/t Au, 2,168 ppm Co, 18.5 g/t AuEq from 251.4 metres and PAL0222: 8.2 metres @ 19.1 g/t Au, 1,572 ppm Co, 20.2 g/t AuEq from 266.9 metres; Test and drill out multiple potential near-surface resource areas where near surface scout drilling has identified high-grade mineralization, and subsequent electromagnetic geophysical surveying ("TEM") has defined larger conductive bodies. For example, this will include drilling at The Hut, Terry's Hammer and Rumajärvi prospects; One drill rig has been active at the Joki East discovery since November 2020 (completing 14 holes for 3,565.9 metres), with 6 drill holes left to report. The discovery hole at Joki East, PAL0241, returned 1.6 metres @ 28.3 g/t gold and 1,190 ppm cobalt (29.2 g/t AuEq) from 168.6 metres. High Grade Infill and Extensions - Palokas: Opportunity exists to infill and extend high-grade areas found within current resource areas, especially in the Palokas area. Notable high-grade hits from Palokas that will be infilled, and drilled along strike include: PRAJ0009: 2 metres @ 99.9 g/t Au, 1196 ppm Co, 100.7 g/t AuEq from 5.9 metres; PAL0222: 8.2 metres @ 19.1 g/t Au, 1572 ppm Co, 20.2 g/t AuEq from 266.9 metres; PRAJ0006: 15 metres @ 9.2 g/t Au, 769 ppm Co, 9.7 g/t AuEq from 1.3 metres; PAL0228: 7 metres @ 17.0 g/t Au, 2168 ppm Co, 18.5 g/t AuEq from 251.4 metres. Near Surface Potential: The 2021 drill program also aims to significantly define new near-surface resources along strike from the current resource areas. Multiple prospect areas with minimal drilling have intersected high-grade mineralization in scout drilling. Subsequently, Mawson has performed electromagnetic geophysical surveying ("TEM") which has defined larger conductive bodies around these initial drill results that provide compelling drill targets. These areas include: The Hut: The Hut Prospect is located 600 metres south of the South Palokas resource area. Five electromagnetic (EM) conductors are associated with high-grade gold intersections and remain untested in their west to northwest trends. Best results at the project to date include: PAL0199: 3.0 metres @ 6.4 g/t Au, 722 ppm Co, 7.6 g/t AuEq from 140.4 metres. PAL0033: 2.0 metres @ 7.7 g/t Au, 94 ppm Co, 7.8 g/t AuEq from 152.5 metres. Drilling this season will focus on systematically drilling near surface EM conductors beyond the initial drill hole intersections. Terry's Hammer: Early stage drilling at Terry's Hammer, located 300 metres south of the Hut, intersected 4.7 metres at 2.1 g/t gold from 65.7 metres in PAL0099, with the first large diameter drill test of a combined remanent magnetic/chargeable/conductive anomaly comprising gold-bearing sulphidic rocks in outcrop. Subsequently TEM geophysics was performed over Terry's Hammer, which defined a conductive body in associated with gold mineralization, which remains untested and will be the focus of drilling this season. Rumajärvi: Rumajärvi lies on the western flank of the mineralized Rajapalot trend, 700 metres west of Raja and 1.1 km south of the Palokas Inferred Mineral Resources. Rumajärvi was a new near-surface addition to the upgraded resource calculation in September 2020 and reflects the shallow potential to add to the resource base with further drilling. Rumajärvi hosts the best-developed boulder field in Rajapalot where a total of 55 boulders and outcrops with >0.1 g/t gold have been discovered. Gold grades in boulders from a 10 hectare area range from 0.1 g/t gold to 3,870 g/t gold, with an average of 184 g/t gold and median of 0.6 g/t gold. Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property. Many rocks (style and grade) from surface boulders found at Rumajärvi are not yet reflected in drilling. Better drill results at Rumajärvi to date include: PAL0182: 7.4 metres @ 3.4 g/t Au, 597 ppm Co, 4.4 g/t AuEq from 93.7 metres. PAL0037 drilled 56m of gold-bearing magnetite, pyrrhotite, biotite and chlorite alteration from 5.0 m that averaged 0.53 g/t gold (without applying a lower cut). Higher grade zones included 22 metres @ 6.7 g/t Au, 120 ppm Co, 6.8 g/t AuEq from 59 metres and 3 metres @ 3.2 g/t Au, 681 ppm Co, 3.7 g/t AuEq from 33 metres; Drilling at Rumajärvi will focus on testing the extensions of known mineralization and defining the source for the high grade boulders. Joki East Discovery: The Joki East prospect is a new drill discovery made at Rajapalot in November 2020 and is located 1,600 metres north-east of the Raja resource area and is permitted for year-round drill access. In total eight holes at Joki East (PAL0240-247), for 2,084.7 metres, were completed in late 2020 and an additional 6 drillholes for 1,481.2 metres (PAL0249-254) for a total of 14 holes for 3,565.9 metres, were completed during January (results awaited). Selected results from Joki East to date include: PAL0241, the discovery drill hole at Joki East, returned 1.6 metres @ 28.3 g/t gold and 1,190 ppm cobalt (29.2 g/t AuEq) from 168.6 metres; and PAL0247, the deepest hole at Joki East and drilled 130 metres north west of PAL0241, returned 5.5 metres @ 6.9 g/t gold and 732 ppm cobalt (7.4 g/t AuEq) from 220.9 metres including 1.0 metre @ 25.4 g/t gold and 617 ppm cobalt (25.8 g/t AuEq) from 223.8 metres.