Mawson Resources Limited Updates On Reorganization

Mawson Resources Limited announced that, as part of its series of proposed transactions that would reorganize the business and capital structure of Mawson into two separate public companies, the Company has completed the sale of T&M Resources AB (T&M) to Tournigan Energy Ltd. (Tournigan). Pursuant to the sale, Tourngian acquired all of the issued and outstanding shares of T&M, a former wholly owned subsidiary of Mawson holding all of Mawson's right, title and interest to certain non-core assets comprised of the Hotagen, Duobblon, Kapell and Aronsjö projects in Sweden and the Riutta, Asento and Nuottijärvi projects in Finland, and indebtedness of T&M in the amount of SEK 14,019,466.81 (approximately CAD2,126,750) for consideration of the issuance of 53,639,848 common shares of Tournigan (the TVC Shares), representing approximately 20.5% of Tournigan's issued and outstanding common shares as of February 29, 2012.