GLD.V · 2017-03-07 12:00:00

GoldON Signs Memorandum of Understanding with Slate Falls and Cat Lake First Nations

Partnerships & JV

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

FOR IMMEDIATE RELEASE

GoldON Signs Memorandum of Understanding with Slate

Falls and Cat Lake First Nations

VICTORIA, BC, March 7, 2017 – GoldON Resources Ltd. (“GoldON” or the “Company”) (TSX-V:

GLD) is pleased to announce it has signed a Memora ndum of Understanding (MOU) with both the Slate

Falls First Nation and Cat Lake First Nation. The MOU ensures that GoldON and both first nation

communities will work together to bu ild a positive working relationship in regard to the “Slate Falls gold-

project” and other potential future projects in the area. The MOU will also en sure that the communities

will benefit from economic growth should any economic mineral resources be discovered and developed.

“This is a key milestone in the advancement of our Sl ate Falls project,” said Mike Romanik, President of

GoldON. “Working together with the Slate Falls and Cat Lake First Nations, we are very pleased to have

begun planning a drilling program to test the high-grade targets we have identified on the Property.”

The Slate Falls Property represents an excellent risk/reward exploration scenario. Exploration work to date

has identified at least six gold (Au) and silver (Ag) zones on the Property that have produced chip, channel

and drill core sample assays of up to 861.3 grams per tonne (g/t) Au and >2,000 g/t Ag. Despite the high-

grade Au-Ag showings and numerous copper-zinc (C u-Zn) base metals showings, the source of the

mineralization has not yet been found. The Property w as last drilled in 1984, when gold averaged US$360

per ounce and silver averaged US$8 per ounce, with only 26 shallow holes having ever been drilled on the

Property and none of the holes testing below ~30 mete rs of surface. The Property is drill ready and fully

permitted though April 27, 2020.

About GoldON Resources Ltd.

GoldON Resources is an exploration company geogra phically focused on the prolific mining belts of

Ontario, Canada. Current projects include the drill- ready Slate Falls gold-silver-VMS property and the

Rainy Gold project that adjoins New Gold’s Rainy Ri ver mine where first production is targeted for fall-

2017. For more information see our website or click here for our corporate presentation.

ON BEHALF OF THE BOARD

Signed “Michael Romanik”

Michael Romanik, President

Direct line: (204) 724-0613

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