Mawson Announces Closing of Participation Rights Financing

Not for distribution to United States newswire services or for dissemination in the United States.

VANCOUVER, April 8, 2020 - Mawson Resources Ltd. ("Mawson" or the "Company") (TSX:MAW)(Frankfurt:MXR)(PINKSHEETS:MWSNF) announces closing of its previously announced private placement financing (the "Private Placement") (see: April 1, 2020) undertaken pursuant to the exercise of participation rights by an existing shareholder of the Company, in connection with the closing of the Company's strategic and acquisition investment with Nagambie Resources Limited (NAG:ASX) (see: January 29, 2020 and March 23, 2020). The Company has issued 615,000 common shares of the Company (the "Common Shares") at an issue price of C$0.17 per Common Share for gross proceeds to the Company of C$104,550. No commission was paid in connection with the Private Placement.

The proceeds from the Private Placement will be used for working capital and general corporate purposes. The Common Shares are subject to a statutory four-month hold period expiring on August 9, 2020.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)

Mawson Resources Ltd. is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold project in Finland. The Australian acquisition provides Mawson with a strategic and diversified portfolio of high-quality gold exploration assets in two safe jurisdictions.

Forward-Looking Statement

This news release contains 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, the use of the net proceeds from the Private Placement, 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 disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

SOURCE: Mawson Resources Ltd.