Victoria, British Columbia--(Newsfile Corp. - April 20, 2023) - GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to announce the completion of a non-brokered private placement financing that raised $100,000 in gross proceeds.

The offering consisted of 1,000,000 non-flow-through units. The units were priced at $0.10 each and consist of one common share and one non-transferable share purchase warrant that entitles the holder to purchase one additional common share of the Company at $0.20 per share for two years following the closing date of the offering.

The Company paid finders' fees totalling $5,400 in cash and 54,000 finders' warrants. Each finders' warrant entitles the holder to purchase one common share of the Company at $0.20 for two years following the closing date. All securities issued pursuant to this Offering will have a hold period expiring August 21, 2023.

Proceeds of the offering will be used for general working capital purposes.

About GoldON Resources Ltd.

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

For additional information, please visit our website or you can download our latest investor presentation. You can also follow us on Twitter.

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) accept responsibility for the adequacy or accuracy of this release.

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