GoldON Resources Completes Debt Settlement

FOR IMMEDIATE RELEASE

GoldON Resources Completes Debt Settlement

VICTORIA, BC, October 23, 2014 – GoldON Resources Ltd. (TSX-V: GLD) has completed its previously-announced shares-for-debt settlement with four creditors. The Company has issued 1,257,600 common shares at a deemed price of $0.05 per share in settlement of $62,880.00 of debt. The issued shares are subject to a four-month hold period expiring February 24, 2015.

About GoldON Resources Ltd.

GoldON Resources Ltd. is an exploration company geographically focused on two of the prolific gold mining belts of Ontario, Canada. The Company’s properties include the Slate Falls goldsilver property in northwestern Ontario, and the Swayze gold project adjoining IAMGOLD’s multi-million ounce Côté Gold Project in the Swayze Greenstone Belt. 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