GoldON Signs Option Agreement with Rockland Resources on Pipestone Bay Property in Red Lake, Ontario Property adjoins Rockland’s Cole Gold Mines property and West Red Lake Gold Mines’ Rowan property
FOR IMMEDIATE RELEASE
GoldON Signs Option Agreement with Rockland Resources
on Pipestone Bay Property in Red Lake, Ontario
Property adjoins Rockland’s Cole Gold Mines property and West Red Lake Gold
Mines’ Rowan property
VICTORIA, BC – January 31, 2024 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) has entered into an agreement with Rockland Resources Ltd. (“RKL”) granting
RKL an option to acquire a 100% in terest in the Pipestone Bay pr operty (the “Property”) located
~32 kilometres west of the town of Red Lake, Ontario.
Figure 1: Pipestone Bay location and the numerous gold mines, past producers, and prospects of the RLGB.
Under the c umulative terms of the agreement, Gold ON shall receive cash payments of up to
$60,000 and the issuance of up to 1,000,000 common shares of RKL, and RKL will incur qualified
exploration expenditures of up to $1,000,000 within 48 months.
The Property is comprised of 37-cell mining claims covering 1,015 hectares (ha) in the Red Lake
Greenstone Belt. Pursuant to the underlying agreement on the Property dated June 10, 2019, EMX
Royalty Corporation owns a 1.5% net smelter returns royalty, of which the Parties may repurchase
0.75% for $400,000.
Closing of the transaction is subj ect to the approval of the agreem ent by the Canadian Securities
Exchange.
About GoldON Resources Ltd.
GoldON is a mineral exploration company focused on discovery-stage properties. Our goal with a
property is to add value by defining (or redefining) the exploration opportunity, maintain ownership
control during the value creation phase of disc overy, and then source a well-financed partner
capable of accelerating discovery, resource definition, and development.
For more information, you can visit our website at goldonresources.com, download our investor
presentation by clicking here, and follow us on Twitter at https://twitter.com/GoldONResources.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: [email protected]
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain “forward-looking st atements” that involve k nown and unknown risks,
uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of
the Company to be materially different from any future results, performance or achievements expressed or
implied by the forward-looking statements. Any forward-lo oking statement speaks only as of the date of this
news release and, except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new information, future events, or
results or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.