GoldON Closes Private Placement Financing

VICTORIA, BC / ACCESSWIRE / March 12, 2019 / GoldON Resources Ltd. (TSX-V: GLD) ("GoldON" or the "Company") is pleased to report that it has closed its previously-announced non-brokered private placement of 3,000,000 units at a price of $0.15 per unit to raise $450,000 in gross proceeds. Each unit consisted of one common share and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of $0.20 per share until March 11, 2021.

The securities are subject to a four-month hold period and may not be traded until July 12, 2019, except as permitted by applicable securities legislation and the TSX Venture Exchange.

The Company paid an aggregate of $17,505 in finders' fees in respect of the offering to Leede Jones Gable Inc., Sherbrooke Street Capital Inc., Stephen Avenue Securities Inc., Canaccord Genuity Corp. and 1544230 Ontario Inc.

The net proceeds of this financing will be used to fund the Company's exploration and development work in Ontario, Canada and for general working capital purposes.

About GoldON Resources Ltd.

GoldON is an exploration company geographically focused on discovery-stage properties located in the prolific gold mining belts of Ontario, Canada. The Company's flagship project is the Slate Falls property in northwestern Ontario where at least 18 Au-Ag mineralized zones have been identified over 7 kilometers of the property. Slate Falls is fully permitted for exploration and drilling. GoldON currently has 11,954,370 shares issued. To learn more about the Company visit our website and view our latest presentation by clicking here.

For additional information contact Michael Romanik.

ON BEHALF OF THE BOARD
Signed "Michael Romanik"

Michael Romanik, President
Direct line: (204) 724-0613
Email: info@goldonresources.com

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.

SOURCE: GoldON Resources Ltd.