Mawson Finland Limited Announces Significant Progress in Permitting Process for the Rajapalot Gold-Cobalt Project, Finland

Miami Herald

13-05-2025

VANCOUVER, BC / ACCESS Newswire / May 13, 2025 / Mawson Finland Limited ("Mawson" or the "Company") (TSXV:MFL) is pleased to announce an important milestone in the permitting process that relates to the development of its 100%-owned Rajapalot gold-cobalt project in the Lapland region of Finland. The Company has initiated the "second phase" of the EIA (Environmental Impact Assessment) procedure and chosen the consultant Ramboll Finland Oy ("Ramboll") responsible for the preparation work. This is a critical step for the development of the project and will foster further collaboration with both the authorities and stakeholders in the region.
Ms. Noora Ahola, Mawson Finland CEO, states: "We are very happy to announce that we have advanced in our Environmental Impact Assessment procedure, and have now selected a suitable consultant after a rigorous selection process. Ramboll is a highly respected and very experienced international consultancy office with a wide global network of experts, including experience in developing EIAs and related studies with Finnish mining operators. We are all very pleased to start working together and further develop the Rajapalot asset on its path to production. We would like to thank our shareholders, local stakeholders and communities for all the support and encouragement to continue developing and de-risking the Rajapalot project."
Highlights:
Responsible consultant selected for preparing the EIA Report ("second phase of the EIA procedure); RambollPart of international Ramboll Group A/SWidely experienced global network of expertsDedicated team of Finnish expertsRecent clients from the Nordic mining industry includes for example Agnico Eagle (Kittilä Gold Mine), Finnish Minerals Group (Terrafame Mine), Yara Suomi (Siilinjärvi Mine), Boliden (Kylylahti Mine) and Anglo American (Sakatti Mine project)Strong local support for the progress and development of the project
EIA - Environmental Impact Assessment Procedure
In Finland and the European Union, regulatory environmental planning processes form the foundation for a structured permitting path required for sustainable mine development. The EIA procedure lays the groundwork for moving the Rajapalot project through all future mine permitting requirements (i.e., industrial zoning, extraction and operational permits etc). Throughout this procedure the Rajapalot project and future mine permitting can be further de-risked while the company continues the on-going resource expansion work.
This EIA procedure ensures not only the project's environmental responsibility but also facilitates meaningful stakeholder engagement in the development process. The EIA procedure includes two major phases: the Program phase (ie., "first phase") and the Report phase (ie., "second phase"). The "first phase", or the EIA Program, was finalized in late 2024 (see MFL news release dated December 10, 2024). This "second phase" or the EIA Report, will document and address any significant environmental impacts from mine development and continued operations. As such, Mawson has now achieved a significant milestone in this development journey by initiating the final "second phase" of the EIA procedure.
It is important to note that while this EIA procedure is not a permit, it provides the vital and underlying foundations on which any further mine permitting processes will require. It provides both the environmental baselines of the area, and any possible effects of the project which will be continuously referred to by the governing authorities during subsequent mine permitting. The EIA Report can be finalized after the Pre-Feasibility has been completed.
This same EIA procedure has been or is being presently undertaken by all the other mineral development projects in Finland, including the Ikkari project of Rupert Resources, Suhanko ("Arctic Platinum") project of CD Capital Natural Resources Fund III L.P., the Sokli project of The Finnish Minerals Group, and the Sakatti project of Anglo American.
Ramboll
Ramboll is a global engineering, architecture, and consultancy company with over 18,000 experts worldwide and 2,500 in Finland. In the mining sector, Ramboll combines international expertise with local insight to deliver responsible, technically sound solutions across the full mine life cycle. Core services include ESIAs, permitting, closure planning, and stakeholder engagement, all aligned with IFC, EBRD, and Equator Principles to ensure compliance and financing readiness. Ramboll's recent assignments include for example acting as GISTM Designer of Record for Boliden Kylylahti mine and leading the EIA for Yara Suomi's Siilinjärvi mine expansion. Ramboll has also delivered zoning and impact assessments for Anglo American Sakatti Mining, an IFC-compliant ESIA for Sydvaranger AS in Norway, and environmental permitting and risk assessments for Terrafame mine. Ramboll have provided land-use and permitting services also for Agnico Eagle's Kittilä gold Mine.
About Mawson Finland Limited
Mawson Finland Limited is an exploration stage mining development company engaged in the acquisition and exploration of precious and base metal properties in Finland. The Company is primarily focused on gold and cobalt. The Corporation currently holds a 100% interest in the Rajapalot Gold-Cobalt Project located in Finland. The Rajapalot Project represents approximately 5% of the 100-square kilometre Rompas-Rajapalot Property, which is wholly owned by Mawson and consists of 12 granted exploration permits and one extension permit application for a total of 11,262 hectares. In Finland, all operations are carried out through the Company's fully owned subsidiary, Mawson Oy. Mawson maintains an active local presence of Finnish staff with close ties to the communities of Rajapalot.
Additional disclosure including the Company's financial statements, technical reports, news releases and other information can be obtained at mawsonfinland.com or on SEDAR+ at www.sedarplus.ca.
Media and Investor Relations Inquiries
Please contact: Neil MacRae Executive Chairman at [e-mail] or [phone], or Noora Ahola Chief Executive Officer at [e-mail] or [phone].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has reviewed or approved of the contents of this news release.
Forward-looking Information
This news release includes certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which are not comprised of historical facts. Forward-looking information includes, without limitation, estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "aims", "may", "could", "would", "will", "must" or "plan". Since forward-looking information is based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, and management of the Company believes them to be reasonable based upon, among other information, the contents of the PEA and the exploration information disclosed in this news release, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, any expected receipt of additional assay results or other exploration results and the impact upon the Company thereof, any expected milestone independent data verification, the continuance of the Company's quality assurance and quality control program, potential mineralization whether peripheral to the existing Rajapalot resource or elsewhere, any anticipated disclosure of assay or other exploration results and the timing thereof, the estimation of mineral resources, exploration and mine development plans, including drilling, soil sampling, geophysical and geochemical work, any expected search for additional exploration targets and any results of such searches, potential acquisition by the Company of any property, the growth potential of the Rajapalot resource, all values, estimates and expectations drawn from or based upon the PEA, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: any change in industry or wider economic conditions which could cause the Company to adjust or cancel entirely its exploration plans, failure to identify mineral resources or any additional exploration targets, failure to convert estimated mineral resources to reserves, any failure to receive the results of completed assays or other exploration work, poor exploration results, the inability to complete a feasibility study which recommends a production decision, the preliminary and uncertain nature of the PEA, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Mawson Finland Limited