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GoldON Provides Update on Red Lake North Gold Property

High-resolution heliborne magnetic survey reveals favourable structural make-up for gold deposition on the fully permitted Project

[DATELINE]GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to provide an update on exploration activities on its Red Lake North property (the "Property") located in the Red Lake Mining District of Northwestern Ontario. The 3,347-hectare property is located approximately 65 kilometres (km) north of the town of Red Lake. Access is excellent via Nungesser Road, an all-weather road that lies 1.5 km north of the Property and connects to Red Lake.



Figure 1: Regional Map Showing Location of Red Lake North Property

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To view an enhanced version of this graphic, please visit:
https://goldonresources.com/images/Red-Lake-North/Red-Lake-North-Regional.jpg

GoldON acquired the Property in February 2021 and subsequently hired Prospectair Geosurveys to complete a heliborne high-resolution magnetometer (MAG) survey that consisted of 740 line-km with 50 metre (m) line spacings to cover the Property. In conjunction with the MAG survey, Dynamic Discovery Geosciences was engaged to interpret the new geophysical data.

Preliminary interpretation of the first vertical derivative reveals a wide shear/deformation zone varying from 100 m to 750 m in width within a magnetic low transecting the property (Figure 2).



Figure 2: Magnetic signature of the Red Lake North property and preliminary structural interpretation

To view an enhanced version of Figure 2, please visit:
https://goldonresources.com/images/Red-Lake-North/RLN_Prelim-MAG-Interpretation.jpg