Onyx Acquires Additional Mineral Property in Timmins Camp
Onyx Acquires Additional Mineral Property in
Timmins Camp
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Onyx Gold Corp. (TSXV: ONYX)
(OTCQX: ONXGF) ("ONYX" or the "Company") is pleased to announce that it has entered into an
agreement to acquire a property consisting of one mining lease and four unpatented mining claims from
an arm's length party located in the Matheson area, east of Timmins, Ontario. The Property is contiguous
with the Company's Munro-Croesus Property ("Munro-Croesus" or the "Project") which will total 10,588
ha (105.8 km
2
) following the acquisition. Under the terms of the agreement, the Company will pay a cash
consideration $20,000, and will issue 120,000 of its common shares to the vendor subject to regulatory
approval. The property is subject to a pre-existing 2% NSR payable to another arms-length party.
Results of Annual General Meeting
The Company announces that its annual general meeting of shareholders was held yesterday and all of
the directors were re-elected for another term until the next annual meeting.
About Onyx Gold
Onyx Gold is an exploration company focused on well-established Canadian mining jurisdictions, with
assets in Timmins, Ontario, and Yukon Territory.
The Company's extensive portfolio of quality gold
projects in the greater Timmins gold camp includes the Munro-Croesus Gold property, renowned for its
high-grade mineralization, plus two additional earlier-stage large exploration properties, Golden Mile
and Timmins South.
Onyx Gold also controls four properties in the Selwyn Basin area of Yukon Territory,
which is currently gaining significance due to recent discoveries in the area.
Onyx Gold's experienced
board and senior management team are committed to creating shareholder value through the discovery
process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
On Behalf of Onyx Gold Corp.
"
Brock Colterjohn
"
President & CEO
For further information, please visit the Onyx Gold Corp. website at
www.onyxgold.com
or contact:
Brock Colterjohn, President & CEO
or
Nicole Hoeller, VP of Corporate Communications
Phone:
1-604-283-3341
Email:
or
Website:
www.onyxgold.com
LinkedIn:
https://www.linkedin.com/company/onyx-gold-corp/?viewAsMember=true
Twitter:
https://twitter.com/OnyxGoldCorp
Forward looking information: This news release includes certain "forward-looking information" within
the meaning of Canadian securities legislation and "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking
statements").
Forward-looking statements include predictions, projections, and forecasts and are often, but not
always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate",
"forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements
that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar
expressions and includes the negatives thereof. All statements other than statements of historical fact
included in this release, including, without limitation, statements regarding the acquisition of
additional mineral property in Timmins, Ontario, are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements are based on a number of material factors and assumptions. Important
factors that could cause actual results to differ materially from Company's expectations include actual
exploration results, changes in project parameters as plans continue to be refined, results of future
resource estimates, future metal prices, availability of capital, and financing on acceptable terms,
general economic, market or business conditions, uninsured risks, regulatory changes, defects in title,
availability of personnel, materials, and equipment on a timely basis, accidents or equipment
breakdowns, delays in receiving government approvals, unanticipated environmental impacts on
operations and costs to remedy same, and other exploration or other risks detailed herein and from
time to time in the filings made by the Company with securities regulators. Although the Company has
attempted to identify important factors that could cause actual actions, events, or results to differ from
those described in forward-looking statements, there may be other factors that cause such actions,
events, or results to differ materially from those anticipated. There can be no assurance that forward-
looking statements will prove to be accurate, and accordingly readers are cautioned not to place
undue reliance on forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/224494