As consideration, Mawson will pay Areva EUR1m. The transaction involves three exploration areas secured by claims or claim applications in Finland that total approximately 16,156 hectares. The Riutta granted claims are located in south eastern Finland and comprise 10 claims for approximately 790 hectares.
The company said that this area is considered prospective for unconformity-style uranium deposits. The Rompas/Rumavuoma claims are located in north central Finland and comprise 123 claim applications for approximately 11,872 hectares and are considered to be prospective for vein-style, structurally-hosted hydrothermal uranium deposits.
The Asento claims, located near to the Rompas area, consist of 37 claim applications for approximately 3,556 hectares and are considered to be prospective for vein-style, structurally-hosted hydrothermal uranium deposits hosted within Archaen granites.
Michael Hudson, president and CEO of Mawson Resources, said: “This transaction effectively doubles Mawson’s exploration portfolio and cements Mawson’s place as a key European uranium explorer. We welcome Areva, one of the world’s key integrated nuclear companies, as one of the company’s largest shareholders.
“Areva will hold, post-closing, 11% of Mawson and will hold the right to increase its shareholding by up to an additional 8% of Mawson’s issued capital via the exercise of the purchase warrants.”
A data swap between Areva and Mawson was executed at the signing of the contracts.
