Onyx Gold Drills 1.2 g/t Gold over 135.1 Meters Including 3.3 g/t Gold over 17 Meters, Further Expanding Gold Mineralization at Argus North
October 22nd, 2025 NR# 041-2025
NEWS RELEASE
Onyx Gold Drills 1.2 g/t Gold over 135.1 Meters Including 3.3 g/t Gold
over 17 Meters, Further Expanding Gold Mineralization at Argus North
Vancouver, BC – October 22nd, 2025 – Onyx Gold Corp. (“Onyx” or the "Company") (TSX-V:
ONYX, OTCQX: ON XGF) is pleased to announce additional drill results from the Company’s
ongoing 25,000 metre drill program (the “Program’) at its 100% owned Munro-Croesus Project
(“Munro-Croesus” or the “Project”), located 75 km east of Timmins, Ontario. Results reported
today are for four (4) drill holes which continue to expand the gold mineralization at the Argus
North Zone (“ Argus North”) and 12 holes testing new targets up to 175 meters east and 525
meters west of Argus North.
Highlights from Argus North
• 135.1 meters (“m”) grading 1.2 grams per tonne gold (“g/t Au”), including 17.0 m
grading 3.3 g/t Au, in drill hole MC25-195
• 71.0 m grading 1.3 g/t Au, including 8.3 m grading 3.9 g/t Au, in drill hole MC25-197
• Drill holes 195 and 197, completed from east to west across the Argus North zone, have
provided valuable insights into the controls on gold mineralization. Results demonstrate
excellent predictability and continuity of a higher-grade plunge within the zone, while also
confirming the presence of cross-cutting faults that that offset mineralization along strike
and help refine the structural model for future targeting
• These results continue to expand Argus North and highlight the excellent continuity of wide
intervals of strong, near -surface gold mineralization that characterize Argus North. With
the latest drilling, the number of intersections exceeding 100 -gram x mete rs has now
increased to seven (7)
• The Argus North Zone remains open along strike, down-dip, and down-plunge
• The Company has completed 70 drill holes (assays announced for 32 holes to date)
completing approximately 22,000 m (88%) of the expanded 25,000 m Program
“Every round of drilling at Argus North continues to deliver wide, consistent gold mineralization
with strong grades and continuity from surface down to 350 m vertically, ” said Brock Colterjohn,
President & CEO of Onyx Gold. “For context, intercepts of this grade and thickness, in addition to
the broad zones of +1 g/t Au mineralization, compare favorably with those reported from other
major gold deposits in the Timmins camp. We are seeing the footprint grow rapidly beyond the
initial discovery zone, pointing to an extensive gold system with serious potential. With results like
these, Argus North is emerging as one of the most exciting new discoveries in this prolific mining
camp.”
Discussion of 2025 Argus North Drill Results
The Argus North Zone is located on the western half of the Munro-Croesus Project, approximately
150 metres north of the regional Pipestone Fault, a major structural corridor that hosts several
significant gold deposits in the Timmins camp. Discovery hole M C24-163, reported earlier this
year, returned 69.6 m grading 3.4 g/t Au, including 34.5 m grading 5.4 g/t Au and 9.5 m grading
13.9 g/t Au (see Company news release dated April 10, 2025 ). Argus North lies roughly 100
metres north of the east -west trending Argus Main Zone, which represents a separate 750 m x
200 m near-surface bulk-tonnage gold target (e.g., 1.0 g/t Au over 63.3 m and 0.5 g/t Au over 136
m).
Gold mineralization at Argus North is distinguished by both broad zones (50 m to over 100 m) of
+1 g/t Au mineralization containing multiple continuous higher-grade sub-intervals. Notable recent
high-grade intercepts include 17.0 m grading 5.3 g/t Au in hole MC25-168, 18.7 m grading 5.2
g/t Au in MC25-171, 5.2 m grading 5.1 g/t Au and 6.6 m grading 4.2 g/t Au in MC25-178, 4.0
m grading 6.6 g/t Au in MC25-179, and 4.0 m grading 5.9 g/t Au in MC25-180. For context,
intercepts of this grade and thickness, in addition to the broad zones of +1 g/t Au mineralization,
compare favorably with those reported from other major gold deposits in the Timmins camp,
underscoring the potential significance of Argus North as a material new gold discovery in the
district.
Geologically, the high-grade sub-intervals are closely associated with zones of strong albitization
and silicification, pyritic stringers, and localized porphyritic intrusions within variolitic basalt and
volcanic breccias. This combination of alteration and structural preparation is interpreted to be a
key control on gold deposition. Drilling to date demonstrates excellent vertical continuity of
mineralization, now traced from surface to over 350 meters depth, with the system remaining
open along strike, down-dip and down-plunge.
Recent m echanized stripping and power washing at Argus North over a 15 m by 80 m area
exposed an alternating stratigraphic sequence of massive, variolitic, fragmental, and pillowed
basalts intruded by two feldspar porphyry dyke s. Mineralization is hosted primarily within
fragmental basalt units which represent the main lithology of the stripped area. An increase in
mineralization is observed in association with northeast-southwest-trending structures that
crosscut the trench. The mineralization is broadly disseminated pyrite within the fragmental
basalts, with higher gold grades associated with 2-5% disseminated and stringer pyrite and strong
albite alteration in proximal to the margins of the main central feldspar porphyry dyk e which in
turn hosts a quartz-carbonate hydrothermal breccia which is mineralized with 2 -5% fine-grained
disseminated and stringer pyrite. Highlights from the trench sampling included 4.0 m grading 5.0
g/t Au and 7.4 m grading 4.9 g/t Au.
Results reported today are for 16 step -out and regional expansion drill holes, MC25-
182/183/184/185/186/188/189/190/191A/192/193/194/195/196/197/198, which continue to
expand the gold mineralization at Argus Nort h. Two drill holes, MC25-195 and MC25-197, were
drilled from east to west across the modelled Argus North Zone, to gain a greater understanding
of northeast-southwest- and north -south-trending geological and structural controls on gold
mineralization, and to test those structures at a more optimal orientation than in north -south
drilling orientations . Two additional holes, MC 25-183 and MC25 -185, were drilled in a
northwesterly direction across an interpreted fault to target potential offsets to the Argus North
Zone. The 11 remaining holes were drilled as step-outs up to 175 m to the east of the Argus North
Zone discovery cross-section (hosting drill hole MC25-163) along the prospective mafic variolitic
and fragmental volcanic flows, and 525 m to the west across the Wedge and Barton Creek Fault
systems to evaluate the mapped continuation of the Argus North host rocks.
Highlights
• 135.1 m grading 1.2 g/t Au, including 17.0 m grading 3.3 g/t Au, in drill hole MC25-195
• 71.0 m grading 1.3 g/t Au, including 8.3 m grading 3.9 g/t Au, in drill hole MC25-197
• 30.0 m grading 0.4 g/t Au, including 4.5 m grading 1.9 g/t Au, in drill hole MC25-182
At Argus East, drill hole MC25-188 returned 3.7 m grading 2.4 g/t Au, including 0.9 m grading
8.7 g/t Au, while drill hole MC25-189 returned 1.5 m grading 11.2 g/t Au, including 0.8 m grading
18.1 g/t Au.
Drill holes MC25-184/186/188 returned anomalous results while the remaining drill holes returned
no significant values.
The Argus North Zone remains open along strike , down-dip, and down-plunge, and the
opportunity to expand the zone through ongoing drilling is considered excellent.
Details for drill hole assay reported in this news release are shown in Figures 1 and 2 and Table
1.
Figure 1 – Longitudinal-Section Highlighting Drill Holes Reported in this Release –
Looking North
Figure 2 – Plan Map Highlighting Argus North Zone Drill Holes Reported in this Release
Figure 3 – Location of the Munro-Croesus Gold Project, Ontario
Table 1 – New Significant Assay Results from 2025 Drilling
Target From To Length Au
Drill Hole (m) (m) (m) (g/t)
Argus North
MC25-195 56.3 69.5 13.2 0.9
Including 64.5 67.5 3.0 2.2
And 145.0 146.0 1.0 9.0
And 171.6 306.7 135.1 1.2
Including 188.5 288.0 99.5 1.5
Including 201.0 213.0 12.0 2.4
And Including 234.3 239.4 5.1 2.6
And Including 249.5 254.5 5.0 2.7
And Including 270.0 287.0 17.0 3.3
Including 273.0 277.0 4.0 5.6
MC25-197 283.0 354.0 71.0 1.3
Including 284.0 286.0 2.0 3.7
And Including 295.8 297.0 1.2 4.3
And Including 317.3 325.6 8.3 3.9
Including 317.3 319.0 1.7 8.0
And Including 324.0 325.6 1.6 12.0
And Including 350.0 354.0 4.0 3.3
MC25-182 141.0 171.0 30.0 0.4
Including 166.5 171.0 4.5 1.9
Argus Main
MC25-183 117.0 133.0 16.0 0.4
Including 125.0 128.0 3.0 1.2
And 184.0 222.0 38.0 0.2
Including 195.5 197.0 1.5 1.6
MC25-185 27.0 92.0 65.0 0.4
Including 68.0 76.5 8.5 1.2
Argus East
MC25-184 39.6 40.3 0.7 2.9
And 228.0 228.6 0.6 4.5
And 275.0 276.2 1.2 1.8
MC25-186 138.0 169.0 31.0 0.3
Including 138.0 152.4 14.4 0.4
MC25-188 99.0 120.5 21.5 0.3
And 168.0 171.7 3.7 2.4
Including 170.8 171.7 0.9 8.7
MC25-189 178.0 179.5 1.5 11.2
Including 178.7 179.5 0.8 18.1
MC25-191A No Significant Assays
MC25-193 No Significant Assays
Argus West
MC25-190 No Significant Assays
MC25-192 No Significant Assays
MC25-194 No Significant Assays
MC25-196 No Significant Assays
MC25-198 No Significant Assays
*Intersections are reported as drilled width; true width is estimated to be 70-90% of drilled width.