Ongold Initiates Infill Sampling Program to Recover Missing Tungsten and GOLD Assays at Monument BAY FOR Enhanced Resource Modeling and Development
ONGOLD RESOURCES LTD.
TSX-V: ONAU / OTCQB: ONGRF
Press Release
For immediate release
ONGOLD INITIATES INFILL SAMPLING PROGRAM TO RECOVER MISSING TUNGSTEN AND GOLD ASSAYS
AT MONUMENT BAY FOR ENHANCED RESOURCE MODELING AND DEVELOPMENT
Toronto, Ontario, September 2, 2025 – ONGold Resources Ltd. ( “ONGold”) (TSXV:ONAU)
(OTCQB:ONGRF) is pleased to announce that the company has initiated an infill sampling program
targeting intervals not previously sampled for tungsten and gold throughout the Monument Bay deposit
(“Monument Bay”) where tungsten could add a significant gold equivalent (“ AuEq”) to future resource
estimates on the project. Tungsten, found in the form of scheelite mineralization in drill core throughout
Monument Bay, has long been overlooked by earlier operators – evidenced by the fact that only 10% of
the split core origin ally sampled for gold was assayed for tungsten content . With global demand for
tungsten rising sharply, this presents a promising opportunity to unlock new value from Monument Bay.
The current market price is US$42,313 per metric tonne for tungsten oxide (WO 3 99.95% high -grade
purity); pricing based on the Chinese export market.
Tungsten is classified as a “High -Demand Critical Mineral” by Natural Resources Canada due to its
exceptional hardness and highest melting point among metals. When alloyed with steel, it significantly
enhances strength and wear resistance. Tungsten is essential in the production of tungsten carbide cutting
tools, electrical components, armor -piercing ammunition, aerospace and automotive engine parts, and
radiation shielding in medical applications.
Recent field work has verified that the majority of historical drill core remains intact, has been inventoried
and is securely stored at the core farm located at the Twin Lakes exploration camp at Monument Bay. In
addition, a substantial number of historical sample pulps have been preserved in long -term storage at a
warehouse facility located in Thunder Bay. A program is currently underway to collect over 13,400 pulps
that need to be analyzed for tungsten ; samples that all reside within the modelled gold domain of
Monument Bay. The realization of the need for infill sampling for tungsten, along with intervals of core
requiring additional logging and splitting for gold analysis, underscores the need for a comprehensive infill
sampling program. This initiative aims to recover critical gold and tungsten assay data across the deposit.
Incorporating these results into the database should help to expand the gold -tungsten resource for the
main deposit.
Historically significant gold-tungsten intercepts have been returned from all six (6) steeply east plunging,
north dipping shoots (see Figure 1 and Figure 2). A large majority of core assayed for gold were not
analyzed for tungsten. The contouring of tungsten grades throughout the deposit clearly demonstrates
that assaying to collect missing assays are critical to assessing the tungsten resource potential of this
deposit (Figure 2). Highlights include the following:
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Camp Shoot:
• TL-05-275: 17.4m @ 2.05 g/t Au and 0.51% WO3.
• TL-05-245: 3.1m @ 17.73 g/ Au and 0.86% WO3.
• TL-03-107: 2.6m @ 14.02 g/t Au and 0.96% WO3.
• TL-05-286: 3.6m @ 4.3 g/t Au and 0.85% WO3.
• TL-05-269: 4.5m @ 49.13 g/t Au and 0.16% WO3.
• TL-14-527: 5.0m @ 14.02 g/t Au and 0.29% WO3.
River Shoot:
• TL-12-484: 3.0m @ 2.5 g/t Au and 1.18% WO3 (see Figure 3).
• TL-13-509: 7.0m @ 1.86 g/t Au and 0.37% WO3 including 0.28m @ 1.82 g/t Au and 11.12% WO3.
• TL-18-668: 3.0m @ 15.68 g/t Au and 1.22% WO3.
• TL-05-306: 3.1m @ 2.58 g/t Au and 0.53% WO3.
Lake Shoot:
• TL-07-339: 5.0m @ 1.87 g/t Au and 0.44% WO3.
• TL-02-83: 5.0m @ 1.61 g/t Au and 0.55% WO3.
Simmons Shoot:
• TL-16-599a: 10.0m @ 2.34 g/t Au and 0.13% WO3 (see Figure 4).
• TL-11-430: 3.0m @ 1.06 g/t Au and 0.42% WO3.
• TL-13-506: 2.0m @ 2.82 g/t Au and 1.14% WO3.
The drill holes intercepts for both gold and tungsten are presented below on Table 1A to 1D in this news
release.
Kyle Stanfield CEO and Director of ONGold commented: "Our team has made exceptional progress
evaluating the vast Monument Bay geological database. We’re extremely excited to unlock the full
potential of the Monument Bay deposit by collecting the remaining missing tungsten assays and further
sampling mineralized core not previously sampled. This critical step will allow us to monetize the tungsten
thereby enhancing the overall value of this exceptional gold deposit and positioning Monument Bay as a
compelling multi-commodity asset with a diverse resource”.
ONGOLD RESOURCES LTD.
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Figure 1: Plan Map - Monument Bay Au-W Deposit: Tungsten Intercepts
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Figure 2: Longitudinal Section - Monument Bay Au-W Deposit: Gold/Tungsten Intercepts
Missing Tungsten Data
Figure 3: TL -12-484: Scheelite infills brecciated quartz -carbonate veined fractures hosted in altered
quartz porphyry dyke (left – Blue Scheelite under fluorescent in short wave UV light; right core photo
showing fracture filling in normal light). Returne d 3.0 m @ 2.50 g/t Au and 1.18% WO 3 (271 to 274m)
in the River Shoot.(1).
(1) As disclosed in the Technical Report, p. 118, available on SEDAR+ under the Company’s profile at www.sedarplus.ca
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Figure 4: TL -16-599a: Scheelite veins, locally folded, hosted in altered (silicified, sericitized) clastic
metasediments with arsenopyrite and pyrite; under UV light; returned 1.03% WO3 and 5.31 g/t Au over
a sample length of 1.0 m (458 to 459m) within the Simmons Shoot.
Historical Data
The only attempt to quantify a tungsten resource with gold was undertaken by Yamana Gold Inc. in 2015
that reported at a cut off grade of 0.70 g/t Au pit constrained “Indicated” resources of 1,689,000t grading
2.58g/t Au and 0.17% WO 3, containing 140,000 oz Au and 286,000 mtu WO 3, (see reference (1) in this
news release) as disclosed in the “Technical Report on the Monument Bay Project, Manitoba”, prepared
for ONGold Resources Ltd. by Rodney Barber of ONGold Resources Ltd. and Karen Mathers of Stantec
Consulting Ltd., dated May 30, 2025 and filed on the Company’s SEDAR+ profile at www.sedarplus.ca on
June 13, 2025 (the “Technical Report”). The Technical Report was prepared in accordance with National
Instrument 43-101 – Standards of Disclosure in Mineral Projects (“NI 43-101”). “Inferred” resources in the
same zone were 530,000t grading 2.52g/t Au and 0.19% WO 3, containing 43,000 oz Au and 98,000 mtu
WO3. A separate tungsten only zone contained “Inferred” resources of 214,000t grading 0.15% WO 3, for
32,000 mtu WO 3. Underground “Measured” and “Indicated” resources in the Monument Bay Au -W
Deposit above a 4.0g/t Au cut -off were 76,000t grading 5.41g/t Au, containing 13,000 oz Au and 1,000
mtu WO 3, including a gold and tungsten zone that carried 2,000t grading 5.38g/t Au and 0.17% WO 3,
containing 400oz Au and 1,000 mtu WO 3. Underground “Inferred” resources in the same zone were
505,000 grading 5.44g/t Au, containing 88,000 oz Au and 3,000 mtu WO 3, which includes the gold and
tungsten zone of 11,000t grading 5.09g/t Au and 0.28% WO3, containing 2,000 oz Au and 3,000 mtu WO3.
The recently published Technical Report also discloses a historical “gold only” mineral estimate which
identified approximately 2.3 million gold ounces (58.0 million tonnes at an average grade of 1.24 g/t) in
the “Measured” and “Indicated” Mineral Resources categories, and 720,000 gold ounces (24.4 million
tonnes at an average grade of 0.92 g/t) in the “Inferred” Mineral Resources category (see the Company’s
news release dated June 13, 2025). This consists of “in-pit only” resources above a cut off grade of 0.3 g/t
gold.
These historical mineral estimates, although compliant with NI 43 -101 guidelines at the time they were
prepared, are historical and should not be considered current. A qualified person has not completed
ONGOLD RESOURCES LTD.
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sufficient work to classify this historical estimate as current mineral resources or mineral reserves and
accordingly it should not be relied upon. The author of the Technical Report and the Company are not
treating the historical estimate as current mineral resources or mineral reserves. To verify the historical
estimate, a qualified person needs to review the historical data, review any work completed Monument
Bay since the date of the historical estimate and complete a new mineral resource estimate. The author
of the Technical Report and the Company view this historical estimate as a conceptual indication of the
potential size and grade of the gold -tungsten deposit in the area, and this information is relevant to
ongoing exploration efforts.
Historical drilling between the known mineralized shoots has also yielded significant gold -tungsten
intercepts, suggesting the possibility of additional mineralized shoots or connections between existing
ones (Figure 2). Notably hole TL-14-518, positioned between the River and Camp shoots, returned 3.0 m
grading 1.06 g/t Au and 1.17% WO₃ within an altered feldspar porphyry dyke (Figure 2). The mineralization
is associated with stockwork veins infilled with scheelite.
Aside from Centerra Gold Inc.’s Endako Molybdenum Mine in British Columbia—which produces tungsten
as a by -product at a modest grade of 0.04% to 0.05 %WO₃—reported Resources on Centerra Gold Inc.
website (see reference (2) in this news release). North America currently lacks any active primary tungsten
mining operations (Table 2). In contrast, China dominates the global tungsten market, accounting for over
80% of worldwide production and exports.
In Canada, one of the most advanced tungsten exploration initiatives is the Sisson Tungsten-Molybdenum
Project in New Brunswick, operated by Northcliff Resources/Todd Minerals. This project is under
evaluation for potential open-pit development and reports tungsten resources estimates in the range of
0.05% WO3 to 0.07% WO3 (see reference (3) in this news release).
As shown in Tables 1A to 1D below, the Monument Bay project continually demonstrates tungsten grades
that often exceed those of both historical producers and current exploration/development projects across
Canada and the United States.
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Table 1A – Highlights: Camp Shoot Gold-Tungsten Intercepts
Hole No. From
(m) To (m) Length
(m) g/t Au %WO3 W
ppm Comments
TL-05-275 137.50 154.90 17.40 2.05 0.51 4,076 Int. Feld Porph Vol Flow;
adjacent to feld. Porphyry dyke;
locally mod silica-albite altered;
up to 20 % qtz veined, bx,aspy,
py
including 140.50 150.50 10.00 2.69 0.85 6,756
including 140.50 146.50 6.00 3.65 1.11 8,810
including 141.50 142.50 1.00 2.98 1.85 14,684
including 145.50 146.50 1.00 6.77 4.40 34,897
including 149.50 150.50 1.00 0.30 1.83 14,547
TL-05-245 273.40 277.50 4.10 12.90 0.63 4,980 Felsic Tuff; mod to strong silca-
albite altered; 50 specks of VG
@ 275.7m over 0.5 m in Bx qtz
vein with Aspy
including 273.40 276.50 3.10 17.73 0.86 6,781
including 275.50 276.00 0.50 77.13 0.18 1,444
including 276.00 276.50 0.50 6.77 3.84 30,482
TL-03-107 264.60 267.20 2.60 14.02 0.96 7,614 Int. Feld. Phyric Vol. Flow: 3-4%
py, 2-4% aspy, loc. Ser., qtz-carb
veins with VG @ 265.63, @
265.75 (71 specks), @ 266.5 (9
specks)
including 265.60 267.20 1.60 22.72 1.56 12,342
including 265.60 266.10 0.50 50.93 1.03 8,140
including 266.10 266.70 0.60 16.76 3.27 25,936
TL-05-286 181.40 185.00 3.60 4.30 0.85 6,771 Qtz Crystal Tuff; qtz-carb
stringer veined (folded); 182.6-
183.0 qz-carb vein with py, aspy
including 181.40 184.15 2.75 5.43 1.11 8,787
including 182.50 183.00 0.50 9.33 1.11 8,819
including 183.00 183.60 0.60 7.49 3.87 30,692
TL-03-123 175.00 178.40 3.40 3.61 0.62 4,949 Felsic Tuff; 2-10cm qtz veins
with aspy, local folding including 175.00 177.40 2.40 5.11 0.88 6,991
including 175.90 176.40 0.50 6.89 3.78 30,000
TL-05-269 69.00 81.70 12.70 19.48 0.07 521 Orogenic Shear/Breccia; Felsic
dyke; 80% qtz veined;
Au_E_Bx6b Domain; Brecciated;
70.1 to 70.9m mass. Qtz vein;
VG (100 specks) @ 70.5 over
0.45 m with aspy; Shoot is open
at depth.
including 69.00 73.50 4.50 49.13 0.16 1,239
including 70.45 70.90 0.45 4.08 0.90 7,110
including 71.40 71.90 0.50 410.50 0.01 50
including 81.40 81.70 0.30 69.53 0.01 50
TL-14-527 92.00 97.00 5.00 14.02 0.29 2,264 Orogenic Shear hosted/Vein;
Sediments, Int. Ash/lapilli Vol;
Au_Vein 1 Domain; stong ser
alteration, py and aspy, VG
reported in <1.0 mm qtz veins;
minor scheelite in qtz veinlets;
Shoot is open at depth.
including 92.00 96.60 4.60 15.08 0.31 2,446
including 93.97 97.00 3.03 22.87 0.29 2,275
including 92.00 92.78 0.78 0.81 0.71 5,600
including 95.32 96.00 0.68 2.74 0.32 2,570
including 96.00 96.60 0.60 17.06 1.04 8,210
TL-14-529 68.00 71.00 3.00 0.62 0.44 3,514 Feldspar Porphyry; strong ser.
Alt'n; local qtz-tour veins with
scheelite (3mm to 7 cm wide).
including 69.23 71.00 1.77 0.54 0.75 5,921
including 69.23 69.66 0.43 0.26 2.89 22,940
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TL-03-131 34.80 40.50 5.70 2.50 0.42 3,344 Felsic Tuff with QFP dyke: bx,
35% qtz veining with tr to 3%
aspy, 4-5% py, tr. Sph
including 34.80 38.00 3.20 2.33 0.74 5,900
including 35.50 37.50 2.00 3.71 1.13 8,975
including 36.00 36.50 0.50 8.04 3.61 28,660
TL-04-204 301.10 301.70 0.60 8.73 2.60 20,625 Felsic Crystal Tuff; carb-chl altn
TL-02-99 355.40 357.50 2.10 8.37 0.98 7,798 Bx Tuff; 5-10% qtz-carb veined;
sericite, py, Abundant VG including 356.50 357.00 0.50 34.20 3.95 31,300
TL-11-391 105.00 107.00 2.00 1.35 1.41 11,190 Feld Porphyry Dyke; 1-5 mm
veins with py, tr aspy including 106.00 107.00 1.00 2.11 2.82 22,330
Table 1B – Highlights: River Shoot Gold-Tungsten Intercepts
Hole No. From
(m) To (m) Length
(m) g/t Au %WO3 W ppm Comments
TL-12-484 271.00 274.00 3.00 2.50 1.18 9,316 Qtz Porphyry Dyke;
strong sil overprints se
alt'n; Bx infilled with
qtz-carb veins and
scheelite @266.2m
(Photo)
271.00 272.00 1.00 1.95 1.95 15,930
TL-13-509 203.00 210.00 7.00 1.86 0.37 2,900 QFP; qtz-albite veined
with scheelite and
sphalerite
including 210.21 211.32 1.11 0.95 2.86 22,645
including 210.21 210.49 0.28 1.82 11.12 88,170
TL-18-668 135.00 138.00 3.00 15.68 1.22 9,700 Felsic Feld Phyric Vol.;
strong ser.-sil altn: qtz-
carb veins with VG @
137.8m (3 specks) and
scheelite (135-138m)
including 137.00 13800 1.0 42.10 3.15 25,000
TL-05-306 103.40 107.50 4.10 3.04 0.42 3,343 Feld. Porphy /Dyke; sil,
ser altered; 2-5% py,
Aspy; @ 106.5 m, 3 cm
bx qtz vein
including 104.40 107.50 3.10 2.58 0.53 4,195
including 106.45 106.85 0.40 3.05 1.27 10,090
and 112.30 116.85 4.55 1.12 0.66 5,237 Int. Flow with
Porphyritic Dyke; ser.
altered, py, po; qtz cab
veined (5-7%) with py,
aspy
including 112.30 114.85 2.55 1.84 1.14 9,031
including 112.30 113.20 0.90 2.70 2.48 19,690
including 113.20 113.85 0.65 1.52 1.00 7,950
and 131.20 137.20 6.00 3.03 0.39 3,082 Int. Flow; sericite
altered, 10% qtz
veined; py
including 134.20 135.20 1.00 4.80 0.85 6,720
including 135.20 136.20 1.00 2.51 1.02 8,090