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Exploring in the prolific gold mining belts of Ontario

Corporate Presentation May 2020

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GoldON Resources Ltd.

Caution Regarding Forward-Looking Information

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the British Columbia Securities Act

and Alberta Securities Act. This includes statements by the Company concerning exploration results, including deposit size, quantities, grades and contained

metals, which are generally made on the basis of estimations and extrapolations from a limited number of drill holes and assays. These estimations and

extrapolations are subject to uncertainties, which include but are not limited to uncertainty in connection with evaluating a deposit until the deposit has been

extensively drilled on closely spaced centers. Should one or more of these underlying estimations or extrapolations prove incorrect, actual results may vary

materially from those described in forward-looking statements.

Forward-looking statements contained herein also includes the Company’s plans at its mineral properties, which involve known and unknown risks,

uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different

from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a

variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without

limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire and maintain exploration

properties and to carry out its desired exploration programs; difficulties in executing exploration programs on the Company’s proposed schedules and within its

cost estimates, whether due to weather conditions in the areas where it operates, increasingly stringent environmental regulations and other permitting

restrictions, or the availability of essential supplies and services; and factors beyond the capacity of the Company to anticipate and control, such as the

marketability of minerals, government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production.

Should one or more of these risks or uncertainties materialize, actual results may vary materially from those described in forward-looking statements.

Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the

Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

© 2020 GoldON Resource Ltd.. All rights reserved. Copyright. All materials displayed or otherwise accessible through this Presentation (collectively,

"Content") are protected by copyright law, and are owned by GoldON Resources Ltd. (“GoldON”) and its licensors, or the party accredited as the provider of

the Content. Except as granted in the limited license herein, any use of the Content, including modification, transmission, presentation, distribution,

republication, or other exploitation of the Presentation or of its Content, whether in whole or in part, is prohibited without the express prior written consent of

GoldON.

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Introduction

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GoldON Resources Ltd. is a Canadian based mineral exploration company focused

on discovery-stage properties. Our goal is to add value by defining (or re-defining) the

exploration opportunity, maintain ownership control of a project during the value

creation phase of discovery, and then source a well-financed partner capable of

accelerating discovery, resource definition and development.

GoldON also practices fiscal responsibility with a proven track record of monetizing

none-core assets and raising capital as needed. The objective is to minimize

shareholder dilution and devote capital to exploration not excessive salaries and

expenses.

While mineral exploration is a high-risk business, it has consistently been success in

the discovery phase of a project’s lifespan that has created the greatest wealth for

resource company shareholders.

Five discovery-stage projects in the gold mining belts of NW Ontario

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Good Share Structure

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No debt and fully funded for current exploration plans

* Insider holdings: ~20%

GoldON CEO Mike Romanik ~10%

Insiders & close associates ~40%

Goldcorp founder Rob McEwen ~4%

Issued and Outstanding: 16,908,432*

Warrants (avg price ~$0.45): 3,544,350

Stock Options (avg price ~$0.41): 2,630,000

Fully Diluted: 23,082,782

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Warrant Schedule

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Associated with financings completed in 2019-2020

EXPIRY AMOUNT PRICE POTENTIAL

Mar 11, 2021 2,400,000 $ 0.20 $ 480,000

Sep 27, 2021 827,500 $ 1.00 827,500

Sep 27, 2021 35,850 $ 0.65 23,303

Oct 3, 2021 200,000 $ 1.00 200,000

Oct 3, 2021 12,000 $ 0.50 6,000

Feb 19, 2022 69,000 $ 1.00 69,000

Totals: 3,544,350 VWAP ~$ 0.45 $ 1,605,803

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Stock Option Schedule

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Granted to Directors, Officers and Consultants

EXPIRY AMOUNT PRICE POTENTIAL

May 2, 2021 585,000 $ 0.15 $ 87,750

Feb 21, 2024 570,000 $ 0.20 $ 114,000

Jul 29, 2024 200,000 $ 0.65 $ 130,000

Nov 8, 2024 100,000 $ 041 $ 41,000

Nov 24, 2024 1,175,000 $ 0.60 $ 705,000

Totals: 2,630,000 VWAP ~$ 0.41 $ 1,077,750

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Company Highlights

➢ Drill underway at West Madsen property, an option/JV with Great Bear Resources that adjoins the

Pure Gold Red Lake Mine project where first gold pour expected in late 2020.

➢ High-resolution MAG survey just completed on Slate Falls property to gain better understanding of

pathways of the numerous high-grade showings identified across the 13-km property.

➢ Exploration permit in hand for Bruce Lake property that adjoins BTU Metals where they’re drilling a

Cu-Ag-Au VMS style discovery called the TNT Target that borders our western property boundary.

➢ Pipestone Bay project in Red Lake Camp expanded to amalgamate original claim blocks and

heliborne MAG survey completed – drill targets identified in early 2000s never followed up.

➢ High-Resolution MAG survey completed on McDonough property that adjoins Rubicon's Slate Bay

gold property in Red Lake Camp.

➢ Perry English joined GoldON as strategic advisor; referred to as a one-man project generator, he is

an accomplished prospector who specializes in Ontario’s Red Lake area.

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Five discovery-stage projects in the gold mining belts of NW Ontario

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Slate Falls Property

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➢ The 5,687-hectare property is located within the southwestern extension of the Meen-Dempster

Greenstone Belt between the Red Lake and Pickle Lake gold camps of northwestern Ontario.

➢ Numerous mineralized showings have been identified including the Carpenter, Fly, FTM, J. Loon,

L1, L15, Path, Sanderson and Trail Zones.

➢ These zones are part of the Slate Falls Deformation Zone and extend for over 10 km (6 miles) in

strike and 1.5 km (~1 mile) in width within the Property's boundaries.

➢ High-grade up to 861 g/t Au in drill core and

3,025 g/t Ag in surface samples at Trail Zone.

➢ Rock samples from 14 trenches cut across

the Sanderson Zone returned a weighted

average of 5.5 g/t Au and 164 g/t Ag over

0.95m for a 170m strike length.

➢ 100% owned subject to 2% NSR royalty.

Key regional-scale structures correlate with numerous high-grade gold and silver showings across the Property

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Access and infrastructure: ✓ All weather road, with logging roads

and trails on property.

✓ Transmission line crosses property.

✓ Regional air transport service.

✓ Accommodation & supplies available in community of Slate Falls (5km).

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Steeply dipping, fold-related gold mineralization is

well documented in other greenstone belts in the

area such as the prolific Red Lake Camp

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Numerous High-Grade Targets

2019 Rock Grab Sample Results

Occurrence Sample # Au g/t Ag g/t

Trail Zone 251119 331.76 3,025

Trail Zone 251116 282.94 2,141

Trail Zone 251115 267.11 2,119

Sanderson Zone 251146 41.97 1,742

Sanderson Zone 251150 17.09 1,535

Numerous geophysical, geochemical and

geological indicators; several correspond to

Au-Ag mineralization and others have yet to

be followed up, particularly in the northern

portion of the property added in 2019

Historical Grab Sampling Results

Occurrence Year Au g/t Ag g/t

FTM Zone 1985 Up to 123.03

FTM Zone 1996 Up to 12.59

FTM Zone 1997 Up to 118.51

Corner

Occurrence1995 Up to 62.58 Up to 203.69

T-02 Showing 1995 1.69 117.31

Targets never followed up using modern, systematic exploration

Interpretation of the new structural data

suggests historical showings and gold

mineralization may be linked across the

property along geophysical features

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Four Red Lake Properties

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West Madsen Property

➢ GoldON has an option to earn a 100% interest in the West Madsen property from Great Bear

Resources subject to a 2.5% NSR Royalty (see news release of May 28, 2019).

➢ The West Madsen property is comprised of two contiguous claim blocks (Block “A” and “B”), each

roughly six kilometers (km) by three km in size for a total area of 3,860 hectares.

➢ Block A is contiguous with the Pure Gold Red Lake Mine project, where development is on track and

first gold production is anticipated in late 2020 (see Pure Gold’s news release of March 20, 2020).

➢ The Pure Gold Red Lake Mine project includes the Madsen deposit (FS status) and the Fork,

Russett South and Wedge deposits (PEA status). Notably, the Wedge discovery area is within a km

of the Block A claim boundary; and a major crustal break between Balmer and Confederation

Assemblage rocks is interpreted to trend from the Pure Gold land package onto Block A.

➢ Initial drill program is underway with Chibougamau Diamond Drilling, Rimini Exploration &

Consulting is project manager and Great Bear’s VP of Exploration Bob Singh is technical advisor on

the West Madsen Project.

Adjoins the highest-grade gold development project in Canada

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The Wedge deposit “continues to rapidly expand” and

is “a high priority for resource growth” according to

Pure Gold’s Dec 16, 2019 press release.

Primary SGH – DrillTargets

MagneticLineaments / Structures

Secondary SGH – DrillTargets

Pure Gold PropertyWest Madsen Block A

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Four primary target areas identified

in SGH soli surveys have been

selected for initial drill testing

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West Madsen Exploration Summary

➢ Within the Red Lake Greenstone Belt, these major crustal breaks are associated with extensive

gold mineralization hosted both in the Balmer Assemblage and within the felsic to intermediate

volcanic rocks adjacent to the interpreted fault zones as recently identified by GoldON’s option

partner Great Bear Resources (GBR) at their Dixie Project (see GBR’s news of May 28, 2019).

➢ GoldON’s fieldwork has included the discovery of ultramafic rocks on the West Madsen property

that has significant implications given most of the historical gold production and current reserves

on the Pure Gold Red Lake Mine property are hosted within the Balmer Assemblage in close

proximity to the ultramafic rocks.

➢ SGH soil surveys have identified a total of six main target areas and 18 secondary target areas on

Block A. The targets trend in an East-West direction and run sub parallel to magnetic lineaments

interpreted to represent the contact between the Balmer and Confederation assemblages, which is

a geological/structural contact that is similar to the adjacent Pure Gold property.

➢ The current drill program will test four of the six primary target areas identified on Block A.

Same geological characteristics as recent Red Lake discoveries

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Bruce Lake Property

➢ GoldON optioned the original 1,640-hectare property in March 2019 and increased the land

package to 3,103 hectares by staking additional claim cells.

➢ Located in a structurally active area spatially associated with east-west trending deformation

zones and northeast trending faults.

➢ The Property’s northern boundary is ~1 km from the southern-eastern boundary of Great

Bear’s Dixie property (~11 km SE of their multiple high-grade gold discoveries) and it shares

the southern claim boundary with Great Bear’s Pakwash property.

➢ The Property also adjoins BTU Metals’ Dixie Halo property where they’re drilling to confirm a

new VMS style Cu-Ag-Au discovery called the TNT Target that borders GoldON’s western

claim boundary (see BTU’s news releases from Dec. 16, 2019 to present).

➢ Access and infrastructure are excellent with HWY 105 and hydro lines bisecting the Property,

and the town of Red Lake ~36 km northwest.

Drilling ongoing by neighbours BTU Metals and Great Bear with 2020 fieldwork to include follow up on new gold showing discovered in 2019

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Lake sediment

anomaly down ice

from claim group Pakwash Lake

In-situ MMI gold-

in-soil anomaly

MMI & Lake Sediment Anomalies

Anomalies suggest Bruce Lake Property is a potential source of gold

0 1 2

km

Ice-flow

direction

TNT

Target

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➢ Covering 1,013 hectares within the Red Lake Greenstone Belt, the Pipestone Bay property is

located ~32 km west of the town of Red Lake with excellent access via MacIntosh Road.

➢ The Property lies in an area of numerous significant gold occurrences with four developed

prospects and two past producers located within 1.5 km of the claim boundary.

➢ Geological characteristics include deformation zones, thrust faults, folded iron formation,

Balmer Assemblage ultra-mafic lithologies, an unconformity, alteration, high-grade gold veins

and disseminated copper mineralization.

➢ Preliminary MAG survey data shows a possible Z-fold, northwest-trending fold axes and

northeast-trending faults providing multiple areas for potential fluid pathways and traps.

➢ The primary target is the 991 Zone where follow up drilling was recommended but never done.

➢ GoldON is earning a 100% interest in the Property subject to a 1.5% NSR Royalty.

Property expanded and heliborne MAG survey completed

Pipestone Bay Property

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“The Pipestone Bay project appears to be at

a more advanced stage then we had initially

thought. Previous operators have spent

millions on exploration over the years yet

priority drill targets remain untested.”

Mike Romanik, President of GoldON

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➢ Covering 1,062 hectares within the Red Lake Greenstone Belt, the McDonough property is

located ~15 km north of the town of Red Lake with excellent access via Pine Ridge Road.

➢ The Property has seen limited exploration despite straddling a regional unconformity that is a

key structural signature of many mines within the Red Lake Greenstone Belt and hosting

several geological attributes typical of gold deposits in Red Lake and the Uchi Subprovince.

➢ Preliminary data from MAG survey shows several interesting circular magnetic features as

well as a clear fault that cuts through the mag signal.

➢ GoldON's next steps will include the completion of additional soil sampling grids to follow up

on encouraging results received in 2019 as well as prospecting the new areas of interest

identified from the MAG survey.

➢ GoldON has an option to earn a 100% interest in the Property subject to a 1.5% NSR Royalty.

High-Resolution MAG survey completed on Property that adjoins

Rubicon's Slate Bay gold property

McDonough Property

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“The McDonough property exhibits similar

geological characteristics as recent discoveries in

the Red Lake Greenstone Belt. The location and

access are excellent, and we are looking forward to

advancing exploration on the Property this year.”

Mike Romanik, President of GoldON

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Management & Directors

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Michael Romanik – President, CEO & Director

Over 14 years of resource exploration and public market experience with an emphasis

on management, promotion and corporate finance.

Jeff Smulders; BSc, MBA, CPA – CFO & Director

Certified Professional Accountant with 45 years of experience (10 yrs with Placer

Development) in financial management, taxation and accounting.

James Darcel; CFA – Independent Director

Independent investment research analyst with over 20 years of experience in the

mining, energy and emerging technologies sectors.

Brian Doutaz – Independent Director

Provider of business management and compliance services to emerging public

companies in Canada and USA for over 35 years.

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Advisory Board26

Perry English, Prospector - Strategic Advisor

Referred to as a One-Man Project Generator, Perry was raised in Red Lake and focused his

prospecting career on northwestern Ontario where he has staked thousands of claims and sold

hundreds of properties over the past 35 years. He received the Ontario Prospectors Association’s

Prospector of the Year Award in 2007 as well as the Association’s Lifetime Achievement Award in 2014.

Mike Kilbourne, P.Geo – Technical Consultant, Qualified Person

A consulting geologist 35 years' experience exploring for precious and base metals within Canadian

greenstone belts, Mike has a solid understanding of ore controls and deposit styles. He earned a B.Sc.

(Hons) from the University of Western Ontario in London and is registered as a Professional

Geoscientist in the province of Ontario.

Bruce MacLachlan (P.Geo Limited) – Geological Consultant

A consulting geologist with over 35 years' experience, Bruce is President and CEO of Emerald

Geological Services. He has proven exploration and project management skills with a wide range of

experience involving grassroots to advanced stage properties.

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Have any questions?

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For further information please contact:

Michael Romanik – President & CEO

Direct: (204) 724-0613 | Email: romanik@goldonresources.com

Greg Lytle – Communications Manager Direct: (604) 839-6946 | Email: lytle@goldonresources.com

GoldON Resources Ltd. 108-800 Kelly Road, Suite 416

Victoria, BC,

V9B 6J9

Admin. Tel: (250) 474 7999

Fax: (250) 474-7997

Join our mailing list: info@goldonresources.com