Quotes Life Assurance

PERTH, AUSTRALIA AND TORONTO, ONTARIO, Nov 21, 2011 (MARKETWIRE via COMTEX) –
Mawson West Ltd.


/quotes/zigman/4486016 CA:MW
+1.27%



(“Mawson” or the “Company”) is pleased
to announce an update on its activities on its 90% owned Dikulushi
Mining Convention located in the Democratic Republic of the Congo
(“DRC”).

Dikulushi Update

At the Dikulushi copper-silver mine, production from the low-grade
stockpile continues, with approximately 350-400 tonnes of copper
(“Cu”) and 30,000-35,000 ounces of silver (“Ag”) being produced per
month. Processing of the stockpile is expected to be completed in
December 2011, after which it is intended that material from
satellite deposits will be processed until ore material from the
Company’s previously announced cut-back expansion project at the
Dikulushi mine is available.

Since acquiring the project from Anvil Mining Limited in April 2010,
Mawson has been exploring within 50km of the Dikulushi processing
plant and has had early success in defining additional deposits that
will supply ore to the plant, with the Company’s aim being to
increase the production life at Dikulushi to 10 years. As a result of
these exploration activities, two additional deposits have been
defined to date. The first is Kazumbula, which is located
approximately 14 km from the Dikulushi mine and which, as previously
disclosed by the Company, has a NI 43-101 compliant indicated
resource of 318 thousand tonnes (“kt”) at a grade of 1.8% Cu and 19
g/t Ag. The second deposit is Boomgate, which is located
approximately 1 km from the Dikulushi mine and for which the Company
has recently calculated an indicated resource of 273kt at a grade of
2.6% Cu and 48g/t Ag and an inferred resource of 233kt at a grade of
1.8% Cu and 25g/t Ag, which is expected to be released in detail by
the end of November 2011. The resource estimate for the Boomgate
deposit is summarised in the tables below (at no cut-off
grade).

        -----------------------------------------------------------------------
        -----
                                                                    Cu  AsCu      Ag
                                 Tonnes                       Ag Metal Metal   metal
        Classification Weathering  (kt) Density  Cu% AsCu%   g/t   (t)   (t)     (t)
        ----------------------------------------------------------------------------
        Indicated      Oxide         33    2.55 2.48  1.37    49   807   446  51,441
        ----------------------------------------------------------------------------
        Indicated      Transition   218     2.6  2.6  1.28    48 5,659 2,799 334,369
        ----------------------------------------------------------------------------
        Indicated      Fresh         22     2.6  2.6  1.28    48   734   101  35,366
        ----------------------------------------------------------------------------
        Total Indicated             273    2.59 2.58  1.29 47.84 7,199 3,346 421,000
        ----------------------------------------------------------------------------
        ----------------------------------------------------------------------------
                                                                    Cu  AsCu      Ag
                                 Tonnes                       Ag Metal Metal   metal
        Classification Weathering  (kt) Density  Cu% AsCu%   g/t   (t)   (t)     (t)
        ----------------------------------------------------------------------------
        Inferred       Transition   167     2.6 1.27  0.46    14 2,132   762  77,162
        ----------------------------------------------------------------------------
        Inferred       Fresh         66     2.6 3.02  0.31    54 1,983   201 112,528
        ----------------------------------------------------------------------------
        Total Inferred              233     2.6 1.77  0.41 25.33 4,115   963 190,000
        ----------------------------------------------------------------------------

The resource estimate for the Boomgate deposit has been prepared in
accordance with NI 43-101 by David Gray, P. Geo, of Optiro Pty Ltd.,
an independent “Qualified Person”. A NI 43-101 technical report in
respect of the Boomgate deposit resource estimate will be filed under
the Company’s profile on SEDAR.

A further deposit, Golf Course, which is 500 m from the Dikulushi
mine, is in the process of being drilled out.

In addition, the Dikulushi pit cut-back project continues to progress
well. Since the commencement of mining in July 2010, approximately
1.6 million bank cubic metres of waste have been stripped and the
project is on track to deliver first ore to the existing 500,000
tonne per annum processing plant in August 2012. As announced earlier
in the year, in the NI 43-101 Dikulushi cut-back feasibility study,
the Company will recover approximately 2,000t of copper and 200,000oz
of silver per month for an estimated 14 months from the cut-back.

Finally, a feasibility study into reopening the existing underground
development of the Dikulushi deposit will commence in January 2012
and is expected to be completed by the end of 2012. The aim of this
study is to define at least five years of underground mine life.

Kapulo Update

At the Kapulo copper exploration and development project,
construction has commenced. Site civils, including the Pweto-Kapulo
access road upgrade, are well underway. The mine camp is 80%
completed and will be progressed further as more accommodation is
required. Mawson is also building a 600,000t/annum flotation plant
which is anticipated to be producing approximately 18,000t of copper
per annum from the end of 2012.

Exploration Update

Since May 2010, the Company’s exploration programme has been
successful in identifying three new deposits within trucking distance
of the Dikulushi mine, two of which have NI 43-101 compliant
resources (Kazumbula and Boomgate). Several other prospects have
undergone first pass drilling with encouraging results: Kabusanje -
9m @ 2.9% Cu and 167g/t Ag; Kazumbula South – 15m @ 3.0% Cu and 90g/t
Ag; and Lufukwe (previously drilled by Anvil Mining Ltd.) – 10.9m @
2.0% Cu and 103g/t Ag. Geochemical and geophysical surveys have
delineated numerous anomalies, which require follow-up drilling.

The Company’s exploration activities are now beginning to enter the
wet season in the DRC, which extends from November to April, and
during this time most access for regional exploration is difficult
and activities are generally restricted to within close proximity of
existing operations at Dikulushi and Kapulo. Mawson will, however,
endeavour to drill test a number of geophysical targets over the
current wet season. Evaluation of all data collected during the dry
season will continue through the wet.

About Mawson West Ltd.

Mawson West Ltd. is an Australian-based copper producer, developer
and explorer listed on the Toronto Stock Exchange. Mawson’s focus is
on the DRC, and its major asset is its 90% ownership in Anvil Mining
Congo SARL, which is in the process of being renamed CMCC SARL
(“CMCC”). The tenements held by CMCC, comprising 7,300 km2 of
contiguous tenure, encompasses the Company’s two main projects, the
Dikulushi copper-silver mine and the Kapulo copper exploration and
development project, as well as multiple exploration targets. The
tenements held by CMCC are governed by the Dikulushi Mining
Convention.

Mawson’s principal objectives are to expand copper production at the
Dikulushi mine, commence copper production at the Kapulo project and
further explore the area governed by the Dikulushi Mining Convention
to identify new targets. Mawson is also investigating other
opportunities in the DRC and elsewhere which have the capacity to
increase the Company’s production in copper and other metals.

QP Statement

Dave Gray of Optiro and Adam Anderson of Mawson West, both Qualified
Persons for the purposes of National instrument 43-101, have reviewed
and approved the content of this press release.

Forward-Looking Information

This press release contains “forward-looking information” that is
based on Mawson’s expectations, estimates and projections as of the
dates as of which those statements were made. This forward-looking
information includes, among other things, statements with respect to
the Company’s business strategy, plans, outlook, financing plans,
projections, targets and expectations as to reserves, resources,
results of exploration (including targets) and related expenses, mine
development, mine operations, mine production costs, drilling
activity, sampling and other data, estimating grade levels, future
recovery levels, future production levels, capital costs, costs
savings, cash and total costs of production of copper, expenditures
for environmental matters, projected life of Mawson’s mines,
reclamation and other post closure obligations and estimated future
expenditures for those matters, completion dates for the various
development stages of mines, availability of water for milling and
mining, future copper prices (including the long-term estimated
prices used in calculating Mawson’s mineral reserves), end-use demand
for copper, currency exchange rates, timing of expected sales and
final pricing of concentrate sales and anticipated timing of
production at the Dikulushi cut-back project. Generally, this
forward-looking information can be identified by the use of
forward-looking terminology such as “outlook”, “anticipate”,
“project”, “target”, “believe”, “estimate”, “expect”, “intend”,
“should”, “scheduled”, “will”, “plan” and similar expressions.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause Mawson’s actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking information, and developed based on assumptions about
such risks, uncertainties and other factors set out herein, including
but not limited to:

        --  Our ability to successfully bring the Dikulushi cut-back project into
            production;
        --  Receipt of all permits required for the Dikulushi cut-back project;
        --  The ability of our key contractors to perform the services for us in the
            manner contracted for;
        --  The availability and cost of key operating supplies and services;
        --  The production facilities may not achieve the planned desired
            recoveries;
        --  Fluctuations in copper prices;
        --  Insurance coverage may not be available for certain risks that the
            company might deem it prudent to insure against;
        --  The ability to expand or replace depleted reserves and the possible
            recalculation or reduction of the reserves and resources;
        --  Actual capital costs, operating costs and expenditures, production
            schedules and economic returns from the Dikulushi cut-back project;
        --  Geotechnical issues;
        --  Mineralogy and block model assumptions;
        --  Potential challenges to title to the properties;
        --  Inherent hazards and risks associated with mining operations;
        --  Inherent uncertainties associated with mineral exploration;
        --  Being subject to government regulation, including changes in regulation;
        --  Being subject to extensive environmental laws and regulations, including
            change in regulation;
        --  Need for governmental licenses and permits;
        --  Political and country risk;
        --  Fluctuations in foreign currency exchange rates; and
        --  Global financial conditions.

Forward-looking statements are based on assumptions management believes
to be reasonable, including but not limited to no material adverse
change in the market price of commodities, that mining development
and operations will operate in accordance with Mawson’s public
statements and achieve their stated outcomes, and such other
assumptions and factors as set out herein. Although Mawson has
attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate. Accordingly,
readers should not place undue reliance on forward-looking
statements. Mawson disclaims any intent or obligations to update or
revise publicly any forward-looking statements whether as a result of
new information, estimates or options, future events or results or
otherwise, unless required to do so by law.

To view the Kapulo Camp Accommodation, please visit the following
link:
http://media3.marketwire.com/docs/KapuloCampAccommodation.pdf .

To view the Pweto-Kapulo Road, please visit the following link:

http://media3.marketwire.com/docs/Pweto.pdf .

To view the Dikulushi Cut Back, please visit the following link:

http://media3.marketwire.com/docs/DikulushiCutBack.pdf .

        Contacts:
        Mawson West Ltd.
        David Frances
        President and Chief Executive Officer
        61 8 9321-9669
        61 8 9481-2394 (FAX)
        dfrances@mawsonwest.com

SOURCE: Mawson West Ltd.

        mailto:dfrances@mawsonwest.com

Copyright 2011 Marketwire, Inc., All rights reserved.

/quotes/zigman/4486016

Add MW to portfolio

CA:MW