EPM27025 FINAL REPORT FOR PERIOD ENDING 25 JUNE 2023

URL: https://geoscience.data.qld.gov.au/dataset/cr140510

Mawson has explored for large iron oxide copper gold and Broken Hill type Cannington style deposits undercover in the Mt Isa region since 2019. No rocks are exposed at the surface in this permit area and work is restricted to generating drill targets using airborne geophysical data and examination of prior company drill core and data. It was deemed no additional geophysical data was required to adequately model any anomalies. This permit contains the second ranked geophysical target in the Mawson permits in the southeastern Mt Isa Block. Therefore, no further work is recommended, given the depth to target and higher quality targets on the Companys other projects.