Drill Permits Received For Newly Acquired Claims At West Madsen

VICTORIA, BC - GoldON Resources Ltd. has received drill permits for the two claim groups newly acquired from Bounty Gold. Fieldwork on the new claims has commenced that will include prospecting, mapping and soil sampling to define and prioritize targets for phase II drilling on the expanded West Madsen project. The Project is comprised of the West Madsen (Block A and Block B) claims, where GoldON has the right to earn a 100% interest through an option agreement with Great Bear Resources, and the Flat Lake and Madsen-Medicine Stone claim groups, where GoldON can acquire a 100% interest. The Flat Lake and Madsen-Medicine Stone claims are contiguous with Block A and the Pure Gold Red Lake Mine property.

Pure Gold has identified a seven-kilometer-long gold system along the major crustal break between the Balmer and Confederation assemblages. The Balmer-Confederation contact trends west and has been identified on the Madsen-Medicine Stone Claim Group 1.6 km west of the Pure Gold property boundary at an outcrop exposure. This area is a high-priority exploration target as the metavolcanics show evidence of deformation, alteration and mineralization demonstrating that the Balmer-Confederation contact was active here as it was further east on the Pure Gold property.

Based on a geological and structural interpretation of a 2017 regional airborne magnetic survey completed by Great Bear Resources in conjunction with surface trenching and the recent drilling results, the prospective Balmer-Confederation contact is interpreted to transect the Madsen-Medicine Stone claims and continue on to West Madsen - Block A for 8 km. To date, only two drill holes have tested this prospective contact.

Mike Romanik, President, said, "The West Madsen project now covers 4,722 hectares of prime gold exploration real estate in the heart of the Red Lake Gold Camp and is right next door to Canada's next gold mine where initial production is expected before the end of the year."