Toronto, Ontario--(Newsfile Corp. - September 2, 2025) - ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) ("ONGold") is pleased to announce that the company has initiated an infill sampling program targeting intervals not previously sampled for tungsten and gold throughout the Monument Bay deposit ("Monument Bay") where tungsten could add a significant gold equivalent ("AuEq") to future resource estimates on the project. Tungsten, found in the form of scheelite mineralization in drill core throughout Monument Bay, has long been overlooked by earlier operators - evidenced by the fact that only 10% of the split core originally sampled for gold was assayed for tungsten content. With global demand for tungsten rising sharply, this presents a promising opportunity to unlock new value from Monument Bay. The current market price is US$42,313 per metric tonne for tungsten oxide (WO3 99.95% high-grade purity); pricing based on the Chinese export market.
Tungsten is classified as a "High-Demand Critical Mineral" by Natural Resources Canada due to its exceptional hardness and highest melting point among metals. When alloyed with steel, it significantly enhances strength and wear resistance. Tungsten is essential in the production of tungsten carbide cutting tools, electrical components, armor-piercing ammunition, aerospace and automotive engine parts, and radiation shielding in medical applications.
Recent field work has verified that the majority of historical drill core remains intact, has been inventoried and is securely stored at the core farm located at the Twin Lakes exploration camp at Monument Bay. In addition, a substantial number of historical sample pulps have been preserved in long-term storage at a warehouse facility located in Thunder Bay. A program is currently underway to collect over 13,400 pulps that need to be analyzed for tungsten; samples that all reside within the modelled gold domain of Monument Bay. The realization of the need for infill sampling for tungsten, along with intervals of core requiring additional logging and splitting for gold analysis, underscores the need for a comprehensive infill sampling program. This initiative aims to recover critical gold and tungsten assay data across the deposit. Incorporating these results into the database should help to expand the gold-tungsten resource for the main deposit.
Historically significant gold-tungsten intercepts have been returned from all six (6) steeply east plunging, north dipping shoots (see Figure 1 and Figure 2). A large majority of core assayed for gold were not analyzed for tungsten. The contouring of tungsten grades throughout the deposit clearly demonstrates that assaying to collect missing assays are critical to assessing the tungsten resource potential of this deposit (Figure 2). Highlights include the following:
Camp Shoot:
- TL-05-275: 17.4m @ 2.05 g/t Au and 0.51% WO3.
- TL-05-245: 3.1m @ 17.73 g/ Au and 0.86% WO3.
- TL-03-107: 2.6m @ 14.02 g/t Au and 0.96% WO3.
- TL-05-286: 3.6m @ 4.3 g/t Au and 0.85% WO3.
- TL-05-269: 4.5m @ 49.13 g/t Au and 0.16% WO3.
- TL-14-527: 5.0m @ 14.02 g/t Au and 0.29% WO3.
River Shoot:
- TL-12-484: 3.0m @ 2.5 g/t Au and 1.18% WO3 (see Figure 3).
- TL-13-509: 7.0m @ 1.86 g/t Au and 0.37% WO3 including 0.28m @ 1.82 g/t Au and 11.12% WO3.
- TL-18-668: 3.0m @ 15.68 g/t Au and 1.22% WO3.
- TL-05-306: 3.1m @ 2.58 g/t Au and 0.53% WO3.
Lake Shoot:
- TL-07-339: 5.0m @ 1.87 g/t Au and 0.44% WO3.
- TL-02-83: 5.0m @ 1.61 g/t Au and 0.55% WO3.
Simmons Shoot:
- TL-16-599a: 10.0m @ 2.34 g/t Au and 0.13% WO3 (see Figure 4).
- TL-11-430: 3.0m @ 1.06 g/t Au and 0.42% WO3.
- TL-13-506: 2.0m @ 2.82 g/t Au and 1.14% WO3.
The drill holes intercepts for both gold and tungsten are presented below on Table 1A to 1D in this news release.
Kyle Stanfield CEO and Director of ONGold commented: "Our team has made exceptional progress evaluating the vast Monument Bay geological database. We're extremely excited to unlock the full potential of the Monument Bay deposit by collecting the remaining missing tungsten assays and further sampling mineralized core not previously sampled. This critical step will allow us to monetize the tungsten thereby enhancing the overall value of this exceptional gold deposit and positioning Monument Bay as a compelling multi-commodity asset with a diverse resource."
Figure 1: Plan Map - Monument Bay Au-W Deposit: Tungsten Intercepts
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Figure 2: Longitudinal Section - Monument Bay Au-W Deposit: Gold/Tungsten Intercepts Missing Tungsten Data
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Figure 3: TL-12-484: Scheelite infills brecciated quartz-carbonate veined fractures hosted in altered quartz porphyry dyke (left - Blue Scheelite under fluorescent in short wave UV light; right core photo showing fracture filling in normal light). Returned 3.0 m @ 2.50 g/t Au and 1.18% WO3 (271 to 274m) in the River Shoot.(1).
(1) As disclosed in the Technical Report, p. 118, available on SEDAR+ under the Company's profile at www.sedarplus.ca.
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Figure 4: TL-16-599a: Scheelite veins, locally folded, hosted in altered (silicified, sericitized) clastic metasediments with arsenopyrite and pyrite; under UV light; returned 1.03% WO3 and 5.31 g/t Au over a sample length of 1.0 m (458 to 459m) within the Simmons Shoot.
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Historical Data
The only attempt to quantify a tungsten resource with gold was undertaken by Yamana Gold Inc. in 2015 that reported at a cut off grade of 0.70 g/t Au pit constrained "Indicated" resources of 1,689,000t grading 2.58g/t Au and 0.17% WO3, containing 140,000 oz Au and 286,000 mtu WO3, (see reference (1) in this news release) as disclosed in the "Technical Report on the Monument Bay Project, Manitoba", prepared for ONGold Resources Ltd. by Rodney Barber of ONGold Resources Ltd. and Karen Mathers of Stantec Consulting Ltd., dated May 30, 2025 and filed on the Company's SEDAR+ profile at www.sedarplus.ca on June 13, 2025 (the "Technical Report"). The Technical Report was prepared in accordance with National Instrument 43-101 - Standards of Disclosure in Mineral Projects ("NI 43-101"). "Inferred" resources in the same zone were 530,000t grading 2.52g/t Au and 0.19% WO3, containing 43,000 oz Au and 98,000 mtu WO3. A separate tungsten only zone contained "Inferred" resources of 214,000t grading 0.15% WO3, for 32,000 mtu WO3. Underground "Measured" and "Indicated" resources in the Monument Bay Au-W Deposit above a 4.0g/t Au cut-off were 76,000t grading 5.41g/t Au, containing 13,000 oz Au and 1,000 mtu WO3, including a gold and tungsten zone that carried 2,000t grading 5.38g/t Au and 0.17% WO3, containing 400oz Au and 1,000 mtu WO3. Underground "Inferred" resources in the same zone were 505,000 grading 5.44g/t Au, containing 88,000 oz Au and 3,000 mtu WO3, which includes the gold and tungsten zone of 11,000t grading 5.09g/t Au and 0.28% WO3, containing 2,000 oz Au and 3,000 mtu WO3.
The recently published Technical Report also discloses a historical "gold only" mineral estimate which identified approximately 2.3 million gold ounces (58.0 million tonnes at an average grade of 1.24 g/t) in the "Measured" and "Indicated" Mineral Resources categories, and 720,000 gold ounces (24.4 million tonnes at an average grade of 0.92 g/t) in the "Inferred" Mineral Resources category (see the Company's news release dated June 13, 2025). This consists of "in-pit only" resources above a cut off grade of 0.3 g/t gold.
These historical mineral estimates, although compliant with NI 43-101 guidelines at the time they were prepared, are historical and should not be considered current. A qualified person has not completed sufficient work to classify this historical estimate as current mineral resources or mineral reserves and accordingly it should not be relied upon. The author of the Technical Report and the Company are not treating the historical estimate as current mineral resources or mineral reserves. To verify the historical estimate, a qualified person needs to review the historical data, review any work completed Monument Bay since the date of the historical estimate and complete a new mineral resource estimate. The author of the Technical Report and the Company view this historical estimate as a conceptual indication of the potential size and grade of the gold-tungsten deposit in the area, and this information is relevant to ongoing exploration efforts.
Historical drilling between the known mineralized shoots has also yielded significant gold-tungsten intercepts, suggesting the possibility of additional mineralized shoots or connections between existing ones (Figure 2). Notably hole TL-14-518, positioned between the River and Camp shoots, returned 3.0 m grading 1.06 g/t Au and 1.17% WO₃ within an altered feldspar porphyry dyke (Figure 2). The mineralization is associated with stockwork veins infilled with scheelite.
Aside from Centerra Gold Inc.'s Endako Molybdenum Mine in British Columbia-which produces tungsten as a by-product at a modest grade of 0.04% to 0.05 %WO₃-reported Resources on Centerra Gold Inc. website (see reference (2) in this news release). North America currently lacks any active primary tungsten mining operations (Table 2). In contrast, China dominates the global tungsten market, accounting for over 80% of worldwide production and exports.
In Canada, one of the most advanced tungsten exploration initiatives is the Sisson Tungsten-Molybdenum Project in New Brunswick, operated by Northcliff Resources/Todd Minerals. This project is under evaluation for potential open-pit development and reports tungsten resources estimates in the range of 0.05% WO3 to 0.07% WO3 (see reference (3) in this news release).
As shown in Tables 1A to 1D below, the Monument Bay project continually demonstrates tungsten grades that often exceed those of both historical producers and current exploration/development projects across Canada and the United States.
Table 1A - Highlights: Camp Shoot Gold-Tungsten Intercepts
| Hole No. | From (m) | To (m) | Length (m) | g/t Au | %WO3 | W ppm | Comments |
| TL-05-275 | 137.50 | 154.90 | 17.40 | 2.05 | 0.51 | 4,076 | Int. Feld Porph Vol Flow; adjacent to feld. Porphyry dyke; locally mod silica-albite altered; up to 20 % qtz veined, bx,aspy, py |
| including | 140.50 | 150.50 | 10.00 | 2.69 | 0.85 | 6,756 |
| including | 140.50 | 146.50 | 6.00 | 3.65 | 1.11 | 8,810 |
| including | 141.50 | 142.50 | 1.00 | 2.98 | 1.85 | 14,684 |
| including | 145.50 | 146.50 | 1.00 | 6.77 | 4.40 | 34,897 |
| including | 149.50 | 150.50 | 1.00 | 0.30 | 1.83 | 14,547 |
| TL-05-245 | 273.40 | 277.50 | 4.10 | 12.90 | 0.63 | 4,980 | Felsic Tuff; mod to strong silca-albite altered; 50 specks of VG @ 275.7m over 0.5 m in Bx qtz vein with Aspy |
| including | 273.40 | 276.50 | 3.10 | 17.73 | 0.86 | 6,781 |
| including | 275.50 | 276.00 | 0.50 | 77.13 | 0.18 | 1,444 |
| including | 276.00 | 276.50 | 0.50 | 6.77 | 3.84 | 30,482 |
| TL-03-107 | 264.60 | 267.20 | 2.60 | 14.02 | 0.96 | 7,614 | Int. Feld. Phyric Vol. Flow: 3-4% py, 2-4% aspy, loc. Ser., qtz-carb veins with VG @ 265.63, @ 265.75 (71 specks), @ 266.5 (9 specks) |
| including | 265.60 | 267.20 | 1.60 | 22.72 | 1.56 | 12,342 |
| including | 265.60 | 266.10 | 0.50 | 50.93 | 1.03 | 8,140 |
| including | 266.10 | 266.70 | 0.60 | 16.76 | 3.27 | 25,936 |
| TL-05-286 | 181.40 | 185.00 | 3.60 | 4.30 | 0.85 | 6,771 | Qtz Crystal Tuff; qtz-carb stringer veined (folded); 182.6-183.0 qz-carb vein with py, aspy |
| including | 181.40 | 184.15 | 2.75 | 5.43 | 1.11 | 8,787 |
| including | 182.50 | 183.00 | 0.50 | 9.33 | 1.11 | 8,819 |
| including | 183.00 | 183.60 | 0.60 | 7.49 | 3.87 | 30,692 |
| TL-03-123 | 175.00 | 178.40 | 3.40 | 3.61 | 0.62 | 4,949 | Felsic Tuff; 2-10cm qtz veins with aspy, local folding |
| including | 175.00 | 177.40 | 2.40 | 5.11 | 0.88 | 6,991 |
| including | 175.90 | 176.40 | 0.50 | 6.89 | 3.78 | 30,000 |
| TL-05-269 | 69.00 | 81.70 | 12.70 | 19.48 | 0.07 | 521 | Orogenic Shear/Breccia; Felsic dyke; 80% qtz veined; Au_E_Bx6b Domain; Brecciated; 70.1 to 70.9m mass. Qtz vein; VG (100 specks) @ 70.5 over 0.45 m with aspy; Shoot is open at depth. |
| including | 69.00 | 73.50 | 4.50 | 49.13 | 0.16 | 1,239 |
| including | 70.45 | 70.90 | 0.45 | 4.08 | 0.90 | 7,110 |
| including | 71.40 | 71.90 | 0.50 | 410.50 | 0.01 | 50 |
| including | 81.40 | 81.70 | 0.30 | 69.53 | 0.01 | 50 |
| TL-14-527 | 92.00 | 97.00 | 5.00 | 14.02 | 0.29 | 2,264 | Orogenic Shear hosted/Vein; Sediments, Int. Ash/lapilli Vol; Au_Vein 1 Domain; stong ser alteration, py and aspy, VG reported in <1.0 mm qtz veins; minor scheelite in qtz veinlets; Shoot is open at depth. |
| including | 92.00 | 96.60 | 4.60 | 15.08 | 0.31 | 2,446 |
| including | 93.97 | 97.00 | 3.03 | 22.87 | 0.29 | 2,275 |
| including | 92.00 | 92.78 | 0.78 | 0.81 | 0.71 | 5,600 |
| including | 95.32 | 96.00 | 0.68 | 2.74 | 0.32 | 2,570 |
| including | 96.00 | 96.60 | 0.60 | 17.06 | 1.04 | 8,210 |
| TL-14-529 | 68.00 | 71.00 | 3.00 | 0.62 | 0.44 | 3,514 | Feldspar Porphyry; strong ser. Alt'n; local qtz-tour veins with scheelite (3mm to 7 cm wide). |
| including | 69.23 | 71.00 | 1.77 | 0.54 | 0.75 | 5,921 |
| including | 69.23 | 69.66 | 0.43 | 0.26 | 2.89 | 22,940 |
| TL-03-131 | 34.80 | 40.50 | 5.70 | 2.50 | 0.42 | 3,344 | Felsic Tuff with QFP dyke: bx, 35% qtz veining with tr to 3% aspy, 4-5% py, tr. Sph |
| including | 34.80 | 38.00 | 3.20 | 2.33 | 0.74 | 5,900 |
| including | 35.50 | 37.50 | 2.00 | 3.71 | 1.13 | 8,975 |
| including | 36.00 | 36.50 | 0.50 | 8.04 | 3.61 | 28,660 |
| TL-04-204 | 301.10 | 301.70 | 0.60 | 8.73 | 2.60 | 20,625 | Felsic Crystal Tuff; carb-chl altn |
| TL-02-99 | 355.40 | 357.50 | 2.10 | 8.37 | 0.98 | 7,798 | Bx Tuff; 5-10% qtz-carb veined; sericite, py, Abundant VG |
| including | 356.50 | 357.00 | 0.50 | 34.20 | 3.95 | 31,300 |
| TL-11-391 | 105.00 | 107.00 | 2.00 | 1.35 | 1.41 | 11,190 | Feld Porphyry Dyke; 1-5 mm veins with py, tr aspy |
| including | 106.00 | 107.00 | 1.00 | 2.11 | 2.82 | 22,330 |
Table 1B - Highlights: River Shoot Gold-Tungsten Intercepts
| Hole No. | From (m) | To (m) | Length (m) | g/t Au | %WO3 | W ppm | Comments |
| TL-12-484 | 271.00 | 274.00 | 3.00 | 2.50 | 1.18 | 9,316 | Qtz Porphyry Dyke; strong sil overprints se alt'n; Bx infilled with qtz-carb veins and scheelite @266.2m (Photo) |
| 271.00 | 272.00 | 1.00 | 1.95 | 1.95 | 15,930 |
| TL-13-509 | 203.00 | 210.00 | 7.00 | 1.86 | 0.37 | 2,900 | QFP; qtz-albite veined with scheelite and sphalerite |
| including | 210.21 | 211.32 | 1.11 | 0.95 | 2.86 | 22,645 |
| including | 210.21 | 210.49 | 0.28 | 1.82 | 11.12 | 88,170 |
| TL-18-668 | 135.00 | 138.00 | 3.00 | 15.68 | 1.22 | 9,700 | Felsic Feld Phyric Vol.; strong ser.-sil altn: qtz-carb veins with VG @ 137.8m (3 specks) and scheelite (135-138m) |
| including | 137.00 | 13800 | 1.0 | 42.10 | 3.15 | 25,000 |
| TL-05-306 | 103.40 | 107.50 | 4.10 | 3.04 | 0.42 | 3,343 | Feld. Porphy /Dyke; sil, ser altered; 2-5% py, Aspy; @ 106.5 m, 3 cm bx qtz vein |
| including | 104.40 | 107.50 | 3.10 | 2.58 | 0.53 | 4,195 |
| including | 106.45 | 106.85 | 0.40 | 3.05 | 1.27 | 10,090 |
| and | 112.30 | 116.85 | 4.55 | 1.12 | 0.66 | 5,237 | Int. Flow with Porphyritic Dyke; ser. altered, py, po; qtz cab veined (5-7%) with py, aspy |
| including | 112.30 | 114.85 | 2.55 | 1.84 | 1.14 | 9,031 |
| including | 112.30 | 113.20 | 0.90 | 2.70 | 2.48 | 19,690 |
| including | 113.20 | 113.85 | 0.65 | 1.52 | 1.00 | 7,950 |
| and | 131.20 | 137.20 | 6.00 | 3.03 | 0.39 | 3,082 | Int. Flow; sericite altered, 10% qtz veined; py |
| including | 134.20 | 135.20 | 1.00 | 4.80 | 0.85 | 6,720 |
| including | 135.20 | 136.20 | 1.00 | 2.51 | 1.02 | 8,090 |
Table 1C - Highlights: Lake Shoot Gold-Tungsten Intercepts
| Hole No. | From (m) | To (m) | Length (m) | g/t Au | %WO3 | W ppm | Comments |
| TL-07-339 | 199.00 | 204.00 | 5.00 | 1.87 | 0.44 | 3,525 | Fed Phyric Vol.Flow: sil and ser altn; 200.2 to 201.9m is qtz stockwork veined with 3% py, 1% aspy |
| including | 199.00 | 201.90 | 2.90 | 2.87 | 0.76 | 6,025 |
| including | 200.20 | 201.90 | 1.70 | 4.28 | 1.28 | 10,170 |
| including | 200.20 | 201.00 | 0.80 | 5.61 | 2.71 | 21,454 |
| TL-02-83 | 71.00 | 76.00 | 5.00 | 1.61 | 0.55 | 4,373 | Bx folded Vol. Tuff; semi-massive py; strong sericite-chlorite alteration |
Table 1D - Highlights: Simmons & Simmons West Shoots: Gold-Tungsten Intercepts
| Hole No. | From (m) | To (m) | Length (m) | g/t Au | %WO3 | W ppm | Comments |
| TL-16-599a | 455.00 | 465.00 | 10.00 | 2.34 | 0.13 | 988 | Simmons Shoot: Locally heavy scheelite veined altered clastic metasediments associated with arsenopyrite and pyrite |
| including | 457.00 | 459.96 | 2.96 | 4.08 | 0.38 | 3010 |
| including | 458.00 | 459.00 | 1.00 | 5.31 | 1.03 | 8,191 |
| TL-11-430 | 179.00 | 182.00 | 3.00 | 1.06 | 0.42 | 3,317 | Simmons Shoot: Lapilli Tuff: minor sil, loc ser altn. |
| including | 181.00 | 182.00 | 1.00 | 0.32 | 1.09 | 8,660 |
| and | 187.00 | 191.00 | 4.00 | 1.93 | 0.75 | 5,978 |
| including | 187.00 | 188.00 | 1.00 | 3.76 | 2.93 | 23,260 |
| TL-13-506 | 193.00 | 195.00 | 2.00 | 2.82 | 1.14 | 9,050 | Mafic Vol. Feldspar Flow; 10-15 cm qtz-carb veins with up to 3% scheelite in the Simmons West Shoot |
| including | 193.50 | 194.00 | 0.50 | 2.63 | 1.36 | 10,820 |
| including | 194.00 | 194.50 | 0.50 | 7.26 | 3.17 | 25,120 |
Table 2: Examples of North American Past Producers, Current Exploration and
Development Projects in North America
| Location | Name | Status | Owner |
| Canada, New Brunswick | Sisson Tungsten-Molybdenum Project | Advanced Development Project for Open Pit (Not Producing)(2) | Northcliff Resources (88.5%) & Todd Minerals (11.5%) |
| Canada, NWT | Mactung Project | Planned Open-Pit (Not Producing) | Fireweed Metals Corp. |
| Canada, New Brunswick | Mount Pleasant Mine | Former UG Mine (Not Producing) | Adex Mining Inc. |
| Canada; British Columbia | Logtung Project | Planned Open Pit (Not Producer) | Largo resources |
| Canada; New Brunswick | Nashwaak Lake Property | Exploration Stage | Great Atlantic Resources |
| Canada; British Columbia | Endako Molybdenum | Only Operating Mine - Tungsten (0.04% to 0.05% %WO3 by-product)(3) | Centerra Gold Inc. |
| U.S.A.; Utah | Scheelite Metals Mine | Past Producer | Scheelite Metals LLC |
| U.S.A.: Idaho | IMA Mine Project | Past Underground Producer | American Tungsten Corp. |
| U.S.A.; California | Pine Creek Tungsten Mine | Past Producer | Pine Creek Development LLC |
| U.S.A.; Nevada | Springer Tungsten Mine | Past Producer | Silver Predator Corp. |
References:
Rodney Barber of ONGold Resources Ltd. and Karen Mathers of Stantec Consulting Ltd. (2025): "Technical Report on the Monument Bay Project, Manitoba", dated May 30, 2025, prepared for ONGold Resources Ltd., published by the Company on its profile on SEDAR+ at www.sedarplus.ca, 118 pp.
Centerra Gold Inc. website, mineral reserve summary available at https://s205.q4cdn.com/276554285/files/doc_downloads/2025/08/MRMR-Tables-and-Footnotes.pdf
Northcliff Resources Ltd. website, available at: https://www.northcliffresources.com/sissonprojecttechnical
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Paul Dunbar, P. Geo. and Vice President Exploration for ONGold, who is a "Qualified Person" as defined by NI 43-101. Mr. Dunbar is not independent of ONGold.
About ONGold Resources Ltd.
ONGold Resources Ltd. owns significant exploration assets in Northern Ontario and Northern Manitoba, including the district-scale Monument Bay Gold-Tungsten Project, TPK Project, Domain Gold Project and October Gold Project. These projects represent a strategic footprint in some of Canada's most prolific gold-producing regions.
ONGold Resources Ltd. on behalf of the Board of Directors
Kyle Stanfield, Chief Executive Officer & Director
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that ONGold expects to occur are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget", "may", "will", "could", "might", "should" and similar expressions, or that events or conditions "will", "would", "may" or "could" occur.
The forward-looking statements contained herein include, without limitation, statements regarding the completion and results of the infill sampling program for tungsten and gold assays at Monument Bay, the potential to recover missing tungsten assays from over 13,400 preserved sample pulps, the expansion of gold-tungsten resources through incorporation of additional assay data, the enhancement of overall project value through tungsten monetization, future resource estimates and gold equivalent calculations, the verification of historical mineral resource estimates, market conditions for tungsten and gold including sustained demand and current pricing of US$42,313 per metric tonne for tungsten oxide, the Company's ability to advance Monument Bay and unlock its full potential, and the receipt of necessary permits and financing.
These forward-looking statements are based on material assumptions including that historical drill core and sample pulps will remain suitable for analysis, that analytical results will be consistent with historical data quality, that laboratory facilities will be available, that market fundamentals will support current commodity pricing, that qualified persons will verify historical estimates in accordance with NI 43-101 requirements, that geological interpretations of mineralization continuity are reasonable, that regulatory conditions will allow continued exploration, that the Company will maintain adequate financial resources, and that political and economic stability will continue in Canada and relevant global markets.
Forward-looking statements are subject to numerous risks and uncertainties that may cause actual results to differ materially, including uncertainty regarding the condition of historical core and preserved sample pulps after extended storage, potential variations in analytical results due to sample degradation or contamination, technical difficulties in sampling and analytical procedures, uncertainty in geological interpretation and mineralization continuity, potential discrepancies between historical and current analytical methods, volatility in tungsten and gold commodity prices and market demand, changes in global tungsten supply particularly from China which dominates over 80% of worldwide production, competition from alternative materials, fluctuations in foreign exchange rates, changes in mining laws and regulations, delays in obtaining permits, environmental liabilities, Indigenous consultation requirements, uncertainty in mineral resource estimation including the inability to verify 2015 Yamana Gold Inc. historical estimates, variations in ore grade and tonnage, limited financing availability, changes in the Company's financial condition, key personnel risks, global economic conditions, geopolitical risks, pandemic-related disruptions, climate change impacts, cybersecurity threats, and risks associated with the remote Twin Lakes exploration camp location.
The historical mineral resource estimates referenced in this news release, including 2015 Yamana Gold Inc. estimates and the historical gold-only mineral estimate in the Technical Report, are considered historical estimates that should not be relied upon and do not constitute current mineral resources or reserves as defined by NI 43-101. Although ONGold believes the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and readers are cautioned not to place undue reliance on them. ONGold does not undertake to update or revise any forward-looking statements except as required by securities laws. Investors are encouraged to review the Company's continuous disclosure documents available on SEDAR+ at www.sedarplus.ca for a complete discussion of risk factors and uncertainties.
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