GoldON Resources Ltd. has entered into an agreement with Rockland Resources Ltd. (RKL) granting RKL an option to acquire a 100% interest in the Pipestone Bay property (the Property) located ~32 kilometres west of the town of Red Lake, Ontario. Under the cumulative terms of the agreement, GoldON shall receive cash payments of up to $60,000 and the issuance of up to 1,000,000 common shares of RKL, and RKL will incur qualified exploration expenditures of up to $1,000,000 within 48 months. The Property is comprised of 37-cell mining claims covering 1,015 hectares (ha) in the Red Lake Greenstone Belt.

Pursuant to the underlying agreement on the Property dated June 10, 2019, EMX Royalty Corporation owns a 1.5% net smelter returns royalty, of which the Parties may repurchase 0.75% for $400,000. Closing of the transaction is subject to the approval of the agreement by the Canadian Securities Exchange.