GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada

Victoria, British Columbia--(Newsfile Corp. - November 14, 2022) - GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to report that shareholders approved all resolutions put before them at the Company's Annual General Meeting held November 10, 2022, in Victoria, BC.

The resolutions approved, with 98% of the votes in favour, included the reelection of directors, the appointment of the auditor and the Company's 2023 stock option plan (the "Plan").

The Plan is a "rolling plan" which reserves a maximum of 10% of the issued share of the Company at the time of a stock option grant. The number of shares subject to each stock option will be determined by the directors, provided that the aggregate number of securities pursuant to all security-based compensation, including stock options granted under the Plan, to:

1. insiders, as a group, at any point in time may not exceed 10% of the issued shares of the Company;

2. insiders, as a group, during any 12-month period may not exceed 10% of the issued shares of the Company;

3. any one individual during any 12-month period may not exceed 5% of the issued shares of the Company;

4. any one consultant during any 12-month period may not exceed 2% of the issued shares of the Company; and

5. all eligible participants engaged to provide investor relations activities during any 12-month period may not exceed 2% of the issued shares of the Company,

in each case calculated as at the date of grant of the stock option, including all other shares under option to such person at that time. The exercise price of a stock option will be determined by the directors of the Company, but may not be set at less than the Discounted Market Price, as defined by the policies of the TSX Venture Exchange. Stock options may be exercisable for a period of up to 10 years from the date of grant.

The Plan is subject to final acceptance by the TSX Venture Exchange.

About GoldON Resources Ltd.

GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes seven properties located in the Red Lake Mining District (McDonough, Springpole East, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and West Madsen) and an eighth property located in the Patricia Mining District (Slate Falls).

For additional information: please visit our website at goldonresources.com, you can download our latest investor presentation by clicking here and you can follow us on Twitter at .

ON BEHALF OF THE BOARD

Signed "Michael Romanik"

Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: info@goldonresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements:

This news release may contain "forward-looking statements" that involve known 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-looking 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) accepts responsibility for the adequacy or accuracy of this release.

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