GLD.V · 2019-10-03 12:00:00

GoldON Closes Non-Brokered Financing

Financings

FOR IMMEDIATE RELEASE

VICTORIA, BC, October 3, 2019 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the

“Company”) is pleased to announce the closing of the previously announced non-brokered private

placement. The Company placed a total of 200,000 units at a rev ised price of $0.50 per unit with

one qualified investor to raise gross proceeds of $100,000. Each unit consists of one common share

and one non-transferable share purchase warrant entitling the h older to purchase an additional

common share of the Company at a price of $1.00 per share until October 3, 2021.

The Company paid a finder’s fee of $6,000 in cash and 12,000 ag ent’s warrants exercisable at

$0.50 per share until October 3, 2021 to Mr. John Newell in res pect of the offering. All securities

issued pursuant to this offering are subject to a four-month hold period and may not be traded until

February 4, 2020, except as permitted by applicable securities legislation and the TSX Venture

Exchange. The net proceeds of this financing will be used 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. 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 13-kilometre breadth of

the property. GoldON has 15,152,282 shares issued and is fully funded to complete its fall

exploration programs.

For additional information please visit our website and you can view our latest presentation by

clicking here.

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.