GoldON Signs Option Agreement with Rockland Resources on Pipestone Bay Property

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% interest in the Pipestone Bay property (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 cumulative terms of the agreement, GoldON 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 subject to the approval of the agreement 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 discovery, 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements:

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