GoldON Issues Shares for Interest Payment

FOR IMMEDIATE RELEASE

GoldON Issues Shares for Interest Payment

VICTORIA, BC, August 10, 2016 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON”) announces that that it has issued 24,800 common shares at a price of $0.205 per share to Trelawney Mining and Exploration Inc. (a subsidiary of IAMGOLD Corporation) in payment of $5,084.08 of semi-annual interest accrued pursuant to its February 2014 promissory note. The shares in lieu of cash interest payment has been accepted by the TSX Venture Exchange and the shares are subject to a four-month hold period.

About GoldON Resources Ltd.:

GoldON Resources is an exploration company geographically focused on the prolific mining belts of Ontario, Canada. All of its properties are in good standing and include the drill-ready Slate Falls gold-silver-VMS property, the Paterson Lake lithium-pegmatite property that adjoins the Separation Rapids lithium project being developed by Avalon Advanced Materials Inc., and the Swayze gold properties adjoining the Côté Gold Project being developed by Trelawney Mining and Exploration, a subsidiary of IAMGOLD Corp. For more information, visit www.goldonresources.com.

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