Goldbelt Resources : GoldON Arranges Debt Settlement (PDF)

Press release - 2016.02.26 (00013690.DOCX;1)

FOR IMMEDIATE RELEASE

GoldON Resources Arranges Debt Settlement

VICTORIA, BC, February 26, 2016 - GoldON Resources Ltd. (the "Company") (TSX-V: GLD) announces that it has negotiated a shares-for-debt settlement with one creditor. Subject to regulatory acceptance, the Company will issue 250,000 common shares at a deemed price of

$0.065 per share in settlement of $16,250.00 of debt. The shares to be issued will be subject to a four-month hold period.

About GoldON Resources Ltd.

GoldON Resources Ltd. is an exploration company geographically focused on two of the prolific gold mining belts of Ontario, Canada. All of its properties are in good standing and include the Slate Falls gold-silver property in northwestern Ontario and the Swayze gold property adjoining the multi-million ounce Côté Gold Project owned by Trelawney Mining and Exploration, a subsidiary of IAMGOLD Corporation. For more information, visit www.goldonresources.com.

ON BEHALF OF THE BOARD

Signed "Michael Romani k" Michael Romanik, President Direct line: [phone]

Email: [e-mail]

###

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.

GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: [phone]