GoldON Resources Ltd. announced that it has entered into an option agreement to acquire a 100% interest in the Hagarty Creek lithium property (the "Property"). Comprised of 17 mining claims covering 7,731 hectares, the Property is approximately 46 kilometres (km) southeast of the town of Longlac in the municipality of Greenstone, Ontario. Access is excellent year-round via Trans-Canada Highway 11, Ontario Highway 625, and a network of logging roads that cover the claim group.

The Property lies within the Quetico Subprovince of the Superior Province, which is known to host significant deposits of rare-element pegmatite-hosted mineralization. Lithium is a rare element, and the Georgia Lake pegmatite field, with its numerous lithium deposits and occurrences, lies within the Quetico Subprovince. According to Ontario Geological Survey (OGS) mapping, the Property hosts an S-type peraluminous muscovite-bearing granite.

These types of granites are the parental fertile rocks that fractionate rare-element pegmatite-hosted mineralization. The peraluminous granite is in contact with clastic metasediments. These are excellent hosts for rare element fractionation and volatile enrichment of pegmatite dykes.

There are multiple north trending faults on the Property that provide fracture systems and pathways needed for parental melts to invade metasediments (Breaks et al., 2003). Under the terms of the option agreement, GoldON can acquire a 100% interest in the Property for cash payments totaling $90,000 over three years ($18,000 within seven business days, $18,000 on the first anniversary, $24,000 on the second anniversary, and a final payment of $30,000 on the third anniversary); and the issuance of 300,000 common shares upon regulatory acceptance. The optionors will retain a 1.5% net smelter returns royalty, of which the Company may repurchase 0.5% for $500,000.