GoldON Mobilizes Field Crew for Prospecting and Drill Hole Orientation at Its West Madsen Gold Project in Red Lake, Ontario

The eastern boundary of the West Madsen property is a 5 km drive from the Madsen gold mine and mill complex owned by West Red Lake Gold Mines (WRLG)

June 06, 2024 8:00 AM EDT | Source: GoldON Resources Ltd.

Victoria, British Columbia--(Newsfile Corp. - June 6, 2024) - GoldON Resources Ltd. (TSXV: GLD) (the "Company") is pleased to announce that it has mobilized a crew from Emerald Geological Services for fieldwork to prepare for the next phase of drilling at its 100%-owned West Madsen gold property (the Property"). Located in the heart of the Red Lake Gold Camp, the 5,988-hectare Property shares its eastern boundary with West Red Lake Gold's Madsen mine/mill property (Figure 1).

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Figure 1: Looking northeast from West Madsen Block A to WRLG's Madsen Gold Mine property.

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In addition to prospecting, the fieldwork will include detailed geological mapping to test structural features interpreted from the airborne geophysical survey Great Bear Resources had flown on the Property in 2017. The area of focus (Figure 2) is immediately adjacent to GoldON drill hole WM-21-22, which intersected a broadly mineralized granodiorite unit in the 2021 drill program that returned 194.9 metres of 0.158 grams per tonne gold from 72 metres down hole.

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Figure 2: Geophysical interpretation with known gold showings and priority target area.

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Detailed geological mapping of the target area in advance of drilling will aid with: (1) determining the best drilling orientation (location, angle, and length) to test the plunge and lateral extent (Figure 3) of the known mineralization; and (2) scouting all potential drill collar locations for their suitability regarding access and maneuvering with the drill rig.

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Figure 3: Close ups of the priority target showing multiple fractures (left) and possible folding (right).

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The technical information contained in this news release has been approved by Mike Kilbourne, P.Geo. who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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 on GoldON and the West Madsen gold project, please visit our website at goldonresources.com. You can also download our investor presentation by clicking here and follow us on X at https://x.com/GoldONResources.

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

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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