GLD.V · 2020-09-18 12:00:00

GoldON Arranges Non-Brokered Private Placement Financing

Financings

GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999

FOR IMMEDIATE RELEASE

VICTORIA, BC, September 18, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or

the “Company”) has arranged a non-brokered private placement of 1,000,000 common share units

at a price of $0.50 per unit with qualified investors to raise $500,000 in gross proceeds. Each unit

will consist of one common share and one non-transferable share purchase warrant. Each warrant

will entitle the holder to purchase one additional common share of the Company at a price of $0.75

per share for a period of two years from the closing date.

Completion of this financing is subject to TSX Venture Exchange acceptance. The Company may

pay a finder’s fee of up to 6% cash and 6% agent’s warrants on subscription proceeds. All securities

issued pursuant to this offering will have a hold period expiring four months after the closing date.

The net proceeds of this financing will be used to fund work on the Company’s exploration

properties in the Red Lake Gold Camp and for general working capital purposes.

About GoldON Resources Ltd.

GoldON is an exploration compan y focused on discovery-stage pro perties located in the prolific

gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes four

properties in the Red Lake Mining Division (West Madsen, Pipestone Bay, McDonough and Bruce

Lake) and a fifth property in the Patricia Mining Division (Sla te Falls). If you are an investor

looking for exposure to the rising gold price, then GoldON is an explorer worthy of a closer look:

tight share structure with a $9 million market cap, discovery-s tage projects all in good standing,

experienced management and adviso rs, and no debt with capital d evoted to exploration not

excessive salaries.

For additional information: please visit our website at https://goldonresources.com, you can

download our latest presentation by clicking here and you can follow us on Twitter at

https://twitter.com/GoldONResources.

ON BEHALF OF THE BOARD

Signed “Michael Romanik”

Michael Romanik, President

Direct line: (204) 724-0613

Neither TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.