Toronto, Ontario--(Newsfile Corp. - October 31, 2024) - ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) (the "Company") announces that its common shares are now trading on the OTCQB Venture Marketplace (the "OTCQB"), a US trading platform that is operated by the OTC Markets Group in New York. The Company has also received Depository Trust Company (the "DTC") eligibility, making the Company's stock more accessible to US investors.
The Company's common shares have commenced trading on the OTCQB under symbol "ONGRF"; the Company's common shares will continue to trade on the TSX Venture Exchange under the symbol "ONAU".
Kyle Stanfield, CEO of the Company stated: "Having ONGold now listed on the OTCQB is a major step in growing our investor base and enables us to attract investors in the US market to a greater degree."
The DTC is the largest securities depository in the world and facilitates electronic settlement of stock certificate transfers in the United States. The shares of the Company, trading under the symbol "ONGRF" in the United States, are now eligible to be electronically cleared and settled through the DTC and are therefore considered "DTC eligible". This electronic method of clearing securities accelerates the settlement process for investors and brokers.
To be eligible to list on the OTCQB, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
About ONGold Resources Ltd.
ONGold holds significant exploration assets in Northern Ontario, highlighted by the district-scale TPK Project and October Gold Project. These projects represent a strategic footprint in one of Canada's most prolific gold-producing regions.
The TPK Project, known for its extensive gold mineralization, covers 47,976 of hectares in a highly favourable geological setting, and has shown promising exploration results from historical drilling and recent surveys. The project area is situated in a region renowned for its mineral potential.
ONGold also holds the district scale October Gold Project, consisting of 1,308 claims covering an area of 271km2, which has a favorable geological setting for large-scale gold deposits and is located approximately 35 km along strike from the Cote Lake Mine. Evolution Mining Limited ("Evolution") holds an option to acquire a 75% undivided interest in the October Gold Project by incurring an aggregate of C$7 million in expenditures and making cash payments totaling C$1.1 million.
ONGold also holds a 100% interest in additional Properties in northwestern Ontario, known as Rapson Bay, Thorne-Ellard and Meston Lake. Together, these comprise 2,334 cell claims, covering 43,791 ha.
ONGold is committed to responsible exploration practices and sustainable development, emphasizing strong partnerships with local communities and stakeholders. By adhering to high standards of environmental stewardship and community engagement, ONGold aims to not only explore and develop its assets but also contribute positively to the regions in which it operates.
With a seasoned management team led by industry veterans and a strategic focus on high-potential mining assets, ONGold Resources Ltd. is well-positioned to become a leader in the development of next- generation mines in Canada's prolific mining sectors.
ONGold Resources Ltd. on behalf of the Board of Directors
Kyle Stanfield, Chief Executive Officer & Director
Contact Information
Kyle Stanfield
Chief Executive Officer
Telephone: 1 (855) 525-0992
Email: info@ongoldresources.com
Neither the 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 news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228532
SOURCE: ONGold Resources Ltd.
