Mr. Michael Romanik reports

GOLDON ARRANGES PRIVATE PLACEMENT FINANCING

GoldON Resources Ltd. is arranging a non-brokered private placement financing with qualified investors of up to 16 million units for maximum gross proceeds of $400,000.

The units will be priced at 2.5 cents and consist of one common share and one transferable share purchase warrant that will entitle the holder to purchase one additional common share of the company at a price of five cents per share for two years from the closing date of the offering.

If at any time after the date of issuance of the warrant, the closing price of the company's common shares on the TSX Venture Exchange is at or above 20 cents per share for a period of 10 consecutive trading days, the company may, within five days of the triggering event, accelerate the expiry date of the warrants by giving notice thereof to the holders of the warrants, by way of news release, and in such case the warrants will expire on the first day that is 30 calendar days after the date on which such notice is given by the company announcing the triggering event and all rights of holders of such warrants shall be terminated without any compensation to such holder.

The company expects it will use up to $200,000 of the proceeds of the offering to finance work at its 100-per-cent-owned Slate Falls gold-silver property and the remainder for general working capital purposes. Management estimates that not more than 10 per cent of the proceeds will be used for investor relations expenses and not more than 20 per cent of the proceeds will be used for payments to non-arm's-length parties. completion of this offering is subject to TSX Venture Exchange acceptance.

About GoldON Resources Ltd.

GoldON is a mineral exploration company focused on discovery-stage properties. The company's goal 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.

We seek Safe Harbor.