Onyx Gold Completes Key Property Acquisitions Around Argus Gold System

Onyx Gold Corp. has completed a series of strategic property acquisitions that significantly consolidate the key surface and mineral interests surrounding the Argus Gold System, a key discovery within the Munro-Croesus Project. The acquisitions, completed through four separate arm's-length, all-cash transactions, now give the company 100% ownership of the key surface and mineral rights within a three-kilometer radius of the Argus Gold System, substantially eliminating historical land fragmentation in the southwestern portion of the Munro-Croesus Property.

The newly acquired surface rights also provide Onyx with a second, shorter route from Highway 101 to the Argus Gold System, approximately 2.7 kilometers away. This complements the project's existing year-round road access and adds flexibility for future exploration and infrastructure planning. Additionally, the company has accelerated the exercise of its option to acquire 100% ownership of the 21-hectare patented claim that partially hosts the Argus North discovery, securing ownership certainty over a key portion of the discovery ahead of schedule.

Onyx's 2026 field exploration program at the Munro-Croesus Project has been highly active, with a multi-phase surface exploration program combining mechanical stripping, channel sampling, prospecting, and detailed geological mapping. This work is designed to extend the surface expression of mineralization across the Argus Gold System, improve the geological and structural model used to guide expansion drilling, and advance several prospective regional targets toward drill-ready status.

Since the beginning of 2026, Onyx has completed four separate arm's-length, all-cash acquisitions that fill all remaining gaps in the company's ownership surrounding the Argus Gold System. These acquisitions include three properties with both surface and mineral rights and one property with surface rights only. The acquisitions also secure the final piece of an historical access trail extending from Highway 101 toward the Argus Gold System, which is already accessible year-round by road and car.

At the Argus Gold System, three new mechanically stripped trenches have been completed, providing additional continuous bedrock exposure for detailed geological mapping and helping refine the relationship between structures, alteration, and favorable host rocks observed in drilling. Beyond the known Argus Zones, crews have completed systematic prospecting, geological mapping, and sampling across the Munro-Croesus property over 200 person-days, including the collection of approximately 300 grab samples and 234 channels totaling 361 meters of length. Follow-up work has focused on areas where favorable host rocks, northeast-trending structures, and anomalous gold coincide.

Onyx's 2026 drilling program at the Munro-Croesus Project is focused on expanding the Argus Gold System, testing for additional mineralized centers, and advancing priority surface exploration targets. Four diamond drill rigs are currently operating at the project, with a fully funded 110,000-meter exploration program underway. To date, 236 drill holes totaling approximately 90,000 meters have been completed, with assays released for 140 drill holes, representing approximately 60% of the holes completed. Approximately 20,000 meters remain to be drilled.

The Munro-Croesus Project is located along Highway 101 in the heart of the Abitibi greenstone belt, Canada's premier gold mining jurisdiction. This large, 100%-owned land package includes the past-producing Croesus Gold Mine, which yielded some of the highest-grade gold ever mined in Ontario. Extensive land consolidation since 2020 has unified the patchwork of patented and unpatented mining claims surrounding the Croesus Gold Mine into one coherent package and enhanced the project's exploration potential.

The project covers 114 square kilometers of highly prospective geology within the influence of major gold-bearing structural breaks. Bulk-tonnage gold deposits located in the immediate region include the Fenn-Gib gold project being developed by Mayfair Gold Corp. and the Tower Gold Project being developed by STLLR Gold Inc.