Victoria, British Columbia (FSCwire) - GoldON Resources Ltd. (TSX-V: GLD) (“GoldON or the Company”) is pleased to announce the signing of a binding agreement (the “Agreement”), whereby PC Gold Mining Inc. (TSX-V: PKL) will acquire all of GoldON’s 100%-owned and optioned Pickle Lake mineral claims (the “Property”).

Under the terms of the Agreement, and subject to regulatory approval, PC Gold will acquire GoldON’s Property by issuing 4,000,000 common shares of PC Gold.

The GoldON Property is located in the Pickle Lake Greenstone Belt of northwestern Ontario and covers a large 6,480 hectare land position that includes the southern extension of PC Gold’s Pickle Crow Mine trend (past-production 1,450,000 ounces of gold) and their 1,200,000 ounce gold deposit. The Property is contiguous with the southwestern claim boundary of PC Gold’s existing property, adjoins the past-producing Central Patricia Mine property (650,000 ounces of gold) to the northwest and extends to the past-producing Dona Lake Mine property (225,000 ounces of gold) to the southeast (see area map on slide 21 of the GoldON presentation available at www.goldonresources.com).

“We have been working on the Pickle Crow transaction for a long time and feel it’s good for all stakeholders,” said Mike Romanik, President of GoldON. “PC Gold’s consolidation of the Pickle Lake Camp is the most logical and direct path towards new investment, exploration and development in this historic mining region. And from GoldON’s perspective, the transaction enables us to focus on our new Slate Falls Gold-Silver Project while retaining an indirect interest in a project we’ve always believed in.”

About GoldON Resources Ltd.

GoldON Resources Ltd. is an exploration company geographically focused on two of the prolific gold mining belts of Ontario, Canada. Its properties include the Slate Falls and Pickle Lake gold properties in northwestern Ontario and the Swayze Gold Property adjoining Trelawney-IAMGOLD’s multi-million ounce Côté Gold Project in the Swayze Greenstone Belt.

For more information, visit www.goldonresources.com

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.

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