Onyx Gold Consolidates Key Ground Around Argus and Advances Extensive 2026 Surface Exploration Program Across Munro-Croesus Strategic Land Consolidation Strengthens Ownership and Access as Surface and Regional Programs Advance the Next
Onyx Gold Consolidates Key Ground Around
Argus and Advances Extensive 2026 Surface
Exploration Program Across Munro-Croesus
Strategic Land Consolidation Strengthens Ownership and
Access as Surface and Regional Programs Advance the Next
Generation of Drill Targets
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2026) - Onyx Gold Corp.
(TSXV: ONYX)
(OTCQX: ONXGF)
("
Onyx
" or the "
Company
") is pleased to provide an update on strategic property
consolidation and the Company's ongoing 2026 field exploration program at its 100%-owned Munro-
Croesus Project ("
Munro-Croesus
" or the "
Project
"), located 75 kilometers east of Timmins, Ontario.
Onyx has completed a series of strategic property acquisitions that further consolidate the key patented
surface and mineral interests surrounding the Argus Gold System ("
Argus
"). Since the beginning of
2026, the Company has completed four separate patented property acquisitions from four arm's-length
vendors, together with the accelerated exercise of its previously announced option to acquire 100%
ownership of the one patented claim that partially covers the Argus North discovery.
With these transactions complete, Onyx now controls 100% of the key surface and mineral rights
surrounding the Argus Gold System within a three-kilometer radius, substantially eliminating historical
land fragmentation in the southwestern portion of the Munro-Croesus Property. The newly acquired
surface rights also allow the Company to evaluate a second, shorter access route from Highway 101 to
Argus along an existing historical access corridor.
In parallel with the Company's ongoing 110,000-meter drill program, exploration crews have been highly
active across Munro-Croesus throughout the summer. A multi-phase surface exploration program
combining mechanical stripping, channel sampling, prospecting and detailed geological mapping is
designed to extend the surface expression of mineralization across Argus, improve the geological and
structural model used to guide expansion drilling, and advance several prospective regional targets
toward drill-ready status.
Together, the work is intended to strengthen the platform for continued growth at Argus: consolidate
ownership around the discovery, improve the geological model used to guide drilling, and build a
pipeline of additional targets beyond the currently defined zones. Argus has already demonstrated gold
mineralization across approximately 1.4 km of strike and more than 700 m vertically, while remaining
open in multiple directions.
Highlights
Since the beginning of 2026, Onyx has substantially completed the consolidation of the key
patented property interests surrounding the Argus Gold System through four separate arm's-length,
all-cash acquisitions. The acquisitions comprise three properties with both mineral and surface
rights and one property with surface rights only, filling all remaining gaps in Onyx's ownership
surrounding the Argus Gold System.
The newly consolidated surface position provides Onyx with a second, shorter route from Highway
101 to Argus, approximately 2.7 km away, complementing the project's existing year-round road
access and adding flexibility for future exploration and infrastructure planning.
Onyx has also accelerated exercise of its option over the 21-hectare patented claim that partially
hosts Argus North. Onyx paid the remaining C$1.35 million in cash and issued 2,475,000 common
shares to secure 100% ownership of the Argus North claim ahead of schedule. This provides
ownership certainty over a key portion of the discovery.
At Argus, three new mechanically stripped trenches have been completed across the Argus Gold
System, providing additional continuous bedrock exposure for detailed geological mapping and
helping refine the relationship between structures, alteration and favourable host rocks observed in
drilling.
Beyond the known Argus Zones, crews have completed systematic prospecting, geological
mapping and sampling across Munro-Croesus over 200 person-days, including the collection of
approximately 300 grab samples and 234 channels totalling 361 m of length. Follow-up has
focused on areas where favourable host rocks, northeast-trending structures and anomalous gold
coincide. At two high-priority regional targets, four trenches and systematic channel sampling have
now been completed, providing new bedrock exposure and direct sampling of mineralized
structures to help refine targets for future drilling.
"We are advancing Argus on several fronts at once, through drilling, surface exploration, land
consolidation and secured access," stated Brock Colterjohn, President & CEO. "Drilling remains the
primary driver of discovery, but the surface work is becoming increasingly important as we refine the
geological model and expand our understanding of the system. This summer, our team opened three
new bedrock exposures across approximately 1,000 m of the Argus trend, giving us a much better
opportunity to directly map the structures, alteration and mineralization that we are seeing in drill core.
We saw the value of that approach at Argus North last year, where stripping and channel sampling
materially improved our understanding of the structural controls and helped refine subsequent drill
targeting. We are now applying that same approach across a much larger portion of Argus while
advancing the next generation of regional targets across Munro-Croesus."
"We have also continued to remove the remaining land and access constraints around the discovery.
Argus is already road accessible year-round by car, but the recent surface-rights acquisition secured the
final piece of an historical access trail that could provide a second, shorter route to the system from
Highway 101, which lies only approximately 2.7 km away. Combined with the acquisition of the
remaining strategic patented interests and the accelerated 100% ownership of the claim that partially
covers Argus North, we now have greater control over the key surface and mineral rights surrounding the
system. As Argus grows, that gives us more flexibility to explore it efficiently today and to plan for what
the project may require in the future."
Update on 2026 Surface Exploration Program
The 2026 field program is focused on applying the geological understanding gained from drilling at
Argus across both the known gold system and prospective areas elsewhere at Munro-Croesus.
Drilling at Argus increasingly indicates that stronger gold mineralization is associated with the
intersection of northeast-trending structures and favourable volcanic stratigraphy. The four new stripped
areas were selected where mineralized zones project toward surface and/or anomalous gold coincides
with prospective geology. Detailed mapping and channel sampling are being used to improve
geological control between drill sections and refine areas for follow-up drilling.
Beyond Argus, four trenches and systematic channel sampling have been completed across two high-
priority regional targets, providing new bedrock exposure and direct testing of mineralized structures at
surface. The objective is to determine whether the geological controls recognized at Argus may be
repeated elsewhere across Munro-Croesus.
This work is supported by the recently completed ~1,470 line-km high-resolution drone magnetic survey,
which provides significantly improved definition of northeast-trending structures across the property. With
many regional targets having seen little to no modern exploration and limited previous work by Onyx, the
program is designed to progressively narrow a broad target inventory into a smaller number of well-
supported targets for future drill testing.
Property Acquisitions and Option Acceleration
Onyx has completed the consolidation of the key patented property interests surrounding the Argus Gold
System through four separate arm's-length, all-cash acquisitions completed during 2026. The
acquisitions include three properties with both surface and mineral rights and one surface-rights
acquisition, filling all remaining ownership gaps around the discovery. No Onyx securities were issued in
connection with these four acquisitions.
The final surface-rights acquisition also completes Onyx's ownership along an historical access trail
extending from Highway 101 toward Argus. The Argus Gold System is already accessible year-round by
road and car; however, the historical trail secures a second and shorter access route to the discovery,
located only approximately 2.7 km from Highway 101, providing additional flexibility for ongoing
exploration and potential future infrastructure planning.
Separately, Onyx has accelerated its previously announced option to acquire 100% of the 21-hectare
patented claim that partially hosts the Argus North discovery, removing the remaining option obligations
and providing ownership certainty over a key portion of the discovery. Onyx has paid the remaining
C$1.35 million in cash and issued 2,475,000 common shares to exercise the option ahead of the
original three-year schedule. The original agreement contemplated total consideration of C$1.515
million in cash and 3,300,000 common shares (
See Company news release dated April 10, 2025
).
Update on 2026 Drilling Program
Onyx continues to execute its fully funded 110,000 m exploration program at Munro-Croesus, with 236
drill holes totalling approximately 90,000 m completed to date.
Assays have been released for 140 drill holes, representing approximately 60% of holes completed, with
approximately 20,000 m remaining to be drilled.
Four diamond drill rigs are currently operating at the Project with focus on expanding the Argus Gold
System, testing for additional mineralized centers, and advancing priority surface exploration targets.
Figure 1 - Location of the Munro-Croesus Gold Project, Ontario
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/314740_a7c392f1b4cef9b7_001full.jpg
Figure 2 - Map of New Property Acquisitions with Key Infrastructure
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/314740_a7c392f1b4cef9b7_002full.jpg
Figure 3 - Recently Completed Trench at Argus West - Looking East Towards Argus North and
Argus Main
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/314740_a7c392f1b4cef9b7_003full.jpg
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
Vanessa Pickering, VP, Investor Relations -
Phone: 1-604-283-3341
Email:
Website:
www.onyxgold.com
LinkedIn:
https://www.linkedin.com/company/onyx-gold-corp
X:
https://x.com/OnyxGoldCorp
Neither 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
release.
The Munro-Croesus Project
The Munro-Croesus Project is located along Highway 101 in the heart of the Abitibi greenstone belt,
Canada's premier gold mining jurisdiction (Figure 1). 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 km
2
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.
Qualified Person
Ian Cunningham-Dunlop, P.Eng., Executive Vice President of Onyx Gold Corp. and a Qualified Person
as defined by National Instrument 43-101, has reviewed and approved the scientific and technical
information contained in this news release.
About Onyx Gold
Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) is a Canadian exploration company focused on
unlocking district-scale gold opportunities in two of the country's most prolific and proven mining
jurisdictions - Timmins, Ontario, and Yukon Territory.
In the Timmins Gold Camp, Onyx controls an extensive portfolio anchored by the Munro-Croesus
Property, host to the historic high-grade Croesus Mine and site of the Company's recent Argus North
discovery. Complementing Munro-Croesus are two large, early-stage projects - Golden Mile, a 140 km²
property situated just 9 km from Discovery Silver's multi-million-ounce Hoyle Pond Mine, and Timmins
South, a 187 km² land package strategically positioned around the Shaw Dome structure, offering
exceptional discovery potential.
Beyond Ontario, Onyx holds a commanding land position across four properties in Yukon's Selwyn
Basin, an area rapidly gaining recognition for new gold discoveries and growing exploration investment.
The Company's King Tut Property sits approximately 50 km south of Snowline Gold's Valley discovery
and adjacent to Fireweed Metals' MacPass property.
Led by an experienced team with a strong track record of discovery, development, and value creation,
Onyx Gold is well-funded and committed to delivering shareholder value through disciplined exploration,
strategic growth, and responsible resource development.
Cautionary and 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 potential benefits of the Company's property consolidation activities, the evaluation and potential use of a second access route to the
Argus Gold System, ongoing and future exploration activities at Munro-Croesus, the interpretation and integration of geological, geophysical,
mapping, prospecting and sampling data, the refinement of existing targets, the identification and advancement of new regional targets toward
future drill testing, and the potential for geological and structural controls identified at Argus to occur elsewhere on the Project. 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 management of the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be
appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial
outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
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