GLD.V · 2019-05-31 12:00:00

GoldON Arranges 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, May 31, 2019 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the

“Company”) is pleased to announce that it has arranged a non-brokered pri vate placement of

700,000 common shares at a price of $0.45 per share and 400,000 flow-through common shares

at a price of $0.50 per share with qualified investors to raise $515,000 in gross proceeds.

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

pay a finder’s fee of up to 10% on the first $300,000 of subscr iption proceeds and up to 7.5% on

the remainder, half of which is payable in cash and half by the issuance of non-flow-through

shares. All of the 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 the Com pany’s exploration and

development work in Ontario, Canada and for general working capital purposes.

About GoldON Resources Ltd.

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

gold mining belts of northwestern Ontario, Canada. Active proje cts include the West Madsen

property in the Red Lake Gold Cam p and our flagship Slate Falls project in the Patricia Mining

Division where 18 Au-Ag mineralized zones have been identified over the 7-kilometre breadth of

the property. GoldON has 12,383,220 shares issued and is fully funded to complete its

spring/summer work programs.

For additional information pleas e visit our website and view ou r latest presentation by clicking

here or contact Michael Romanik.

ON BEHALF OF THE BOARD

Signed “Michael Romanik”

Michael Romanik, President

Direct line: (204) 724-0613

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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.