Precious Metals

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

GoldON Resources Ltd. (TSX-V: 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.

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

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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).

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

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https://goldonresources.com/images/Red-Lake-North/RLN_Prelim-MAG-Interpretation.jpg

This wide corridor is interpreted to be the E1 crustal-scale extensional shear zone postulated by Zeng and Calvert (2006) from seismic reflection studies north of Red Lake. The E1 shear hosts second-order structures postulated to providing fluid pathways for the gold mineralization of the Red Lake Mine Complex (Zeng and Calvert, 2006). A similar structure, the E3, has second-order fault systems associated with the gold mineralization at Great Bear Resources' Dixie Project and LP Fault discovery (See Figure 3 and Great Bear's news release of June 3, 2021).

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Figure 3: Interpretation of the migrated seismic reflection section along the seismic profile in the Red Lake Area (Zeng and Calvert, 2006)

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https://goldonresources.com/images/Red-Lake/RLN_Lithoprobe.jpg

GoldON's Red Lake North property appears to have a similar structural environment as the Red Lake Mine Complex and Great Bear's Dixie Gold Project where a deep-seated first-order shear appears to have a network of second-order structures. These are important structural shear zones that are common hosts to orogenic gold deposits (Feng and Kerrich, 1992).

As a next step, GoldON has commissioned Orix Geoscience to compile all historical exploration and reinterpret the surface geology and associated structure from the recently completed MAG survey. The objective of the Orix study is to gain a better understanding of the geological and structural framework of the Property which will aid in targeting future exploration efforts.

"Our Red Lake North property appears to host all the structural ingredients that have been integral to the formation of the Red Lake Mine Complex," said Mike Romanik president of GoldON. "The Project is now fully permitted, and we are looking forward to receiving the Orix recommendations."

Mike Kilbourne, P.Geo., an independent Qualified Person as defined in NI 43-101, has reviewed and approved the contents of this news release on behalf of the Company.

About GoldON Resources Ltd.

GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes six properties in the Red Lake Mining Division (West Madsen, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and McDonough) and a seventh property in the Patricia Mining Division (Slate Falls).

For additional information: please visit our website at goldonresources.com; you can download our latest investor presentation by clicking here and you can follow us on Twitter at https://twitter.com/GoldONResources.

ON BEHALF OF THE BOARD

Signed "Michael Romanik"

Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: ir@goldonresources.com

179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements:

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) accepts responsibility for the adequacy or accuracy of this release.

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Challenger Exploration

Several 500 Metre Intersections Continue To Extend CEL's Gold Discoveries In Colorado V And Indicate Significant Scale

Challenger Exploration (ASX: CEL) (“CEL” the “Company”) is pleased to announce results from Phase 1 drilling targeting the CV-A and CV-B Au-Ag-Cu soil anomalies in the Colorado V concession ("Colorado V", the "Project") in El Oro Province, Ecuador. The results build on the first five CV-A and CV-B drill holes, all of which intersected over 450 metres of mineralisation, and confirm two Au-Cu-Ag-Mo discoveries of significance in Colorado V. Three of five drill holes reported in this release intersected over 500 metres of, and ended in, mineralisation.

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NOVAGOLD Reports Third Quarter 2022 Financial Results

Advancing Donlin Gold to Prepare the Project for the Next Phase of Development; Robust Treasury of $132 Million in Cash and Term Deposits, with $25 Million of Receivables in 2023

  • The 42,334-meter drill program is wrapping-up for the year. The joint release issued by NOVAGOLD, Barrick and Donlin Gold on July 28, 2022 reported further encouraging assays, with more high-grade gold intercepts that demonstrated good grade continuity. Additional results will be issued in the coming weeks.
  • With Donlin Gold's largest budget in over a decade, our focus is on the path forward, subject to Donlin Gold LLC Board approval, toward the preparation of an updated feasibility study. To this end, the drill program is providing the data for the geologic modelling and interpretation work for the updated resource model while we engage in engineering studies, as well as pursue our comprehensive environmental and community relations activities.
  • NOVAGOLD's strong cash position of $132 million as of August 31, 2022, with additional funds of $25 million due in July 2023 from Newmont Corporation, should be sufficient to advance Donlin Gold to a construction decision.

NOVAGOLD RESOURCES INC. ("NOVAGOLD" or "the Company") (NYSE American, TSX: NG) today released its 2022 third quarter financial results and an update on its Tier One 1 gold development project, Donlin Gold, which NOVAGOLD owns equally with Barrick Gold Corporation ("Barrick").

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Wheaton Precious Metals to Release 2022 Third Quarter Results on November 3, 2022

TSX | NYSE | LSE: WPM

 Wheaton Precious Metals™ Corp. will release its 2022 third quarter results on Thursday, November 3, 2022 after market close.

News Provided by Canada Newswire via QuoteMedia

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Yamana Gold Provides Notice of Third Quarter 2022 Results and Notice of Meeting and Record Date for the Proposed Transaction With Gold Fields

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") announces that it will release its operational and financial results for the third quarter of this year after the market closes on Thursday, October 27, 2022. The Company will host a conference call and webcast to review the results on Friday, October 28, 2022 at 9:00 a.m. Eastern Daylight Time.

Yamana further announces that it has filed the required notice setting a record and meeting dates in respect of the special meeting of shareholders to consider the previously announced proposed transaction with Gold Fields Limited ("Gold Fields"). The record date, which is the date of record for determination of shareholders entitled to receive notice of and vote at the special meeting of shareholders, is set as October 18, 2022 and the special meeting of shareholders will be convened on November 21, 2022. The Company had been advised that the Gold Fields shareholder meeting will be convened the day after on November 22, 2022.

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Under the terms of the Agreement, Rackla may acquire a 100% interest in the Property by completing the following:

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