Mawson Resources Limited announced electromagnetic survey results from the South Palokas prospect and updates winter 2019 drill plans at the company's 100% owned gold-cobalt Rajapalot project in northern Finland. The company announced a maiden gold-cobalt resource for the Rajapalot project on December 17 2018, which was comprised of the Raja and Palokas prospects. South Palokas is one of two bodies that made up the Palokas resource estimate and at the time measured 180 metres of strike, depth of 220 metres and widths of up to 20 metres. Key Points: A recently completed electromagnetic geophysical survey has outlined a strongly conductive body immediately down plunge from the South Palokas gold-cobalt resource. At the upper margin, this conductive zone encompasses PAL0016, the deepest drill hole at South Palokas, which intersected 8.4 m @ 5.7 g/t AuEq, 4.9 g/t gold, 471 ppm cobalt from 206 metres; Modelled conductive plates extend 250 metres down dip beyond the South Palokas resource. The conductive body doubles the South Palokas mineralization footprint (Figures 1 & 2) and remains open down dip to the northwest; Geophysical field crews continue to collect fixed-loop transient electromagnetic data at Palokas, and over a broader area at Rajapalot with the aim of mapping the source of additional strong heliborne VTEMplus anomalies (Figure 2) along the 4 kilometre trend that includes the Raja, Rumajärvi, Hut and Palokas prospects; The South Palokas and Raja conductive bodies, along with other extensions to gold-cobalt resources, will be tested by a drill program scheduled to commence in late January 2019 (subject to final permitting). A 15,000 metre, five drill rig program is proposed, with contracts in place with three drilling companies. Approximately 70 people will be employed to execute the program once work commences. A recently completed TEM geophysical survey has confirmed and further defined earlier helicopter-borne VTEMplus electromagnetic surveys and outlined a strongly conductive body immediately down plunge from the South Palokas gold-cobalt resource. At the upper margin, this conductive zone encompasses PAL0016, the deepest drill hole at South Palokas, which intersected 8.4 m @ 5.7 g/t AuEq, 4.9 g/t gold, 471 ppm cobalt from 206 metres. Electromagnetic techniques were first used in 2013 by Mawson at Rajapalot with a helicopter-borne VTEMplus survey indicating the conductive nature of areas subsequently discovered to be the Palokas, South Palokas, The Hut, Terry's Hammer, Rumajärvi and Raja gold-cobalt prospects. The broad scale of the line spacing (100 metres) and the low current induced in the ground from the VTEMplus survey required follow-up with ground TEM surveys to accurately locate conductors to the accuracy of a drillable target with electromagnetic loops positioned to gain maximum response from inferred locations of mineralization. TEM surveys have already more than doubled the 450 metre long Raja prospect to greater than 1 kilometre down plunge. The Raja conductive body corresponds with known mineralization and then continues to at least 1 kilometre down plunge (600 metre vertical depth) with increasing conductivity and remains open. It appears the northern extensions of Raja may coalesce with the Hut prospect VTEM conductor at depth. Subject to final drill permit approvals a five rig, 15,000 metre drill program will commence in late January 2019 at the Raja and South Palokas prospects to target the electromagnetic down-plunge extensions of the resource mineralization. Modelling of fixed loop electromagnetic surveys (TEM) have been instrumental in the planning for the winter drill program.