GoldON Extends Term of Promissory Note with Subsidiary of IAMGOLD

FOR IMMEDIATE RELEASE

GoldON Extends Term of Promissory Note with Subsidiary of IAMGOLD

VICTORIA, BC, February 5, 2016 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the “Company”) announces that the term of the $125,000 promissory note payable to Trelawney Mining and Exploration Inc., an indirect wholly owned subsidiary of IAMGOLD Corporation, has been extended for one year and is now repayable in February 2017.

In addition and subject to regulatory acceptance, the Company will issue 84,735 common shares at a price of $0.06 per share to Trelawney in payment of $5,084.08 of semi-annual interest accrued pursuant to the terms of the promissory note. The interest shares are subject to a fourmonth hold period.

About GoldON Resources Ltd.:

GoldON is an exploration company geographically focused on two of the prolific gold mining belts of Ontario, Canada. All of its properties are in good standing and include the Slate Falls gold-silver property in northwestern Ontario and the Swayze gold property adjoining the multimillion ounce Côté Gold Project owned by Trelawney Mining and Exploration, a subsidiary of IAMGOLD Corporation. For more information, visit www.goldonresources.com or view the current GoldON presentation.

ON BEHALF OF THE BOARD

Signed “Michael Romanik”

Michael Romanik, President Direct line: (204) 724-0613 Email: [email protected]

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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