Mawson West Results of Meeting Strong Shareholder Support Received

PERTH, AUSTRALIA--(Marketwired - Feb. 25, 2015) - Mawson West Limited (TSX:MWE) ("Mawson West" or "the Company") announces that at the General Meeting of the Company held today, the resolution outlined below was passed by a show of hands without amendment.

Resolution: Approval of the issue of shares to Galena Private Equity Resources Fund LP upon the future exercise of warrants and the potential issue of Shares to Galena pursuant to the Backstop Agreement.

Further to the approval of the resolution at today's General Meeting, Mawson West acknowledges in the event the shares under the further offering is fully subscribed by Galena (including the maximum commission fees payable satisfied through the issuance of further shares to Galena), Galena will hold a voting power of approximately 57.30%. In the event that the warrants issued to Galena are also exercised into shares, Galena will hold a voting power of approximately 64.6%.

On January 30, 2015 Mawson West announced a restructuring of the Company's executive team and a reduction of employees within the Perth corporate office following a review of its Australian corporate functions and associated costs. As part of this restructuring, Greg Entwistle, Chief Development Officer, recently left the Company. This review is ongoing.

Anthony Lloyd, Chairman and Acting CEO, commented: "The strong support shown by shareholders at today's General Meeting paves the way for Galena to become a strategic partner and a major shareholder of Mawson West.

Galena brings their technical expertise in the resources sector, extensive history of resource financing and importantly immediate capital, allowing the Company to continue with the ramp-up of production at the Kapulo copper project.

I would like to thank all of our shareholders for their continued support through this period of transition and I look forward to the next stage of the Company's development with our new strategic partner."

Filing of Documents

Copies of the material documents relating to this transaction will be filed under Mawson West's profile on SEDAR.

About Mawson West Limited

Mawson West is a copper and silver-focused resource company listed on the Toronto Stock Exchange (TSX) and based in Perth, Australia.

The Company's two key projects are the Dikulushi copper-silver mine, which was recently placed on care and maintenance, and the Kapulo copper mine located in the Katanga province in South Eastern Democratic Republic of Congo (DRC). Mawson West has a significant land holding of approximately 7,300km² in the DRC's rich copper belt.

About Galena Asset Management

Galena Asset Management S.A. is a Switzerland based fund manager operated by independent specialist management as part of the Trafigura Group. Galena seeks to draw on the commodity, metals and mining and technical expertise of the Trafigura Group in managing a number of fund products. The final fundraise for Galena closed in September 2014 and it is a US$400 million closed end Cayman Islands limited partnership designed to invest in the natural resources sector. Galena invests in late stage and producing assets in a variety of jurisdictions and commodities around the globe.

Forward-looking statements

This news release contains certain "forward looking statements". These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Company. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including (without limitation) the risks identified in the "Risk Factors" section of the Company's Annual Information Form and other public filings (copies of which may be obtained at www.sedar.com). The results or events depicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.