Onyx Gold Expands Emerging High-Grade Corridor at Argus Main

The most recent release (May 14, 2026) reports new drill results from the 110,000‑meter program at the 100%‑owned Munro‑Croesus Project in Ontario. Drilling at Argus Main delineates a gold system now spanning >1.4 km of strike and >500 m vertically. Notable intercepts include: - MC26‑292: Upper Zone 126.2 m @ 0.3 g/t Au (incl. 6.0 m @ 1.2 g/t), Middle Zone 40.7 m @ 1.3 g/t Au with high‑grade 5.8 m @ 5.8 g/t Au and 1.0 m @ 15.0 g/t Au, Lower Zone 120.2 m @ 0.4 g/t Au (incl. 18.5 m @ 1.3 g/t and 3.0 m @ 4.7 g/t). - MC26‑288: Upper 69.9 m @ 0.7 g/t Au (incl. 16.5 m @ 2.1 g/t), plus Middle and Lower zones. The release highlights that Argus Main is beginning to show structural‑controlled higher‑grade mineralization similar to the Argus North discovery. Drilling has reached ~60,000 m out of 110,000 m planned; the company holds approximately $20 M in cash, fully funding the remainder of the 2026 program.

Prior news chronologically: - The June 2025 initial Argus North discovery hole (69.6 m @ 3.4 g/t Au) ignited the program; subsequent step‑outs consistently returned wide, near‑surface mineralization with high‑grade shoots (e.g., 208 m @ 2.3 g/t Au in Nov 2025, 194 m @ 1.8 g/t Au in Dec 2025). - Argus West was discovered in Dec 2025, 250 m from Argus North, and a high‑grade C‑Zone was uncovered in Jan 2026. - Argus Main was initially viewed as a bulk‑tonnage target; high‑grade structures were first reported on Mar 31, 2026 (15.0 m @ 4.9 g/t Au in MC26‑270). The current release extends that corridor a further 40 m northeast. - The drill program has been progressively upsized from an initial 10,000 m to 110,000 m, funded by a series of financings totaling ~$26.4 M in late 2025 and a treasury now around $20 M. A major strategic investor, Gold Fields (via Windfall Mining Group), owns ~9.9% of shares. - The company also holds the King Tut property in Yukon, with encouraging surface results but no imminent drilling.

The May 14, 2026 news is a positive but routine exploration update. It confirms that the higher‑grade corridor at Argus Main, first announced in March 2026, is extending and improving in scale. However, the market had already adjusted to the presence of high‑grade structures within this zone; today’s release is an incremental step‑out rather than a new discovery. No maiden resource, maiden production decision, or transformative strategic investment was announced. The large continuous intercepts and high‑grade sub‑intervals reinforce the geological model and bolster the narrative that Argus Main could evolve into a significant multi‑style deposit, but the information is in line with the company’s evolving story. Therefore, the impact on the stock is likely to be mildly positive but not game‑changing.

Onyx Gold Corp. is a discovery‑focused gold explorer listed on the TSX Venture Exchange (ONYX). Its flagship asset is the Munro‑Croesus Project in the Timmins Camp, Ontario – a 109 km² land package that now includes the historic high‑grade Croesus Mine. The company has consolidated several previously fragmented claims (Munro, Hewitt, Hewitt West) to secure a dominant position along the Pipestone Fault corridor, adjacent to large‑scale deposits (Fenn‑Gib, Tower Gold). The company also holds the King Tut property in the Yukon’s Tombstone Gold Belt, providing exposure to a second premier jurisdiction. The current focus is the ~110,000 m drill program designed to delineate a potentially district‑scale gold system across three main zones: Argus North (high‑grade, >250 m strike, open), Argus Main (bulk‑tonnage with emerging high‑grade shoots), and Argus West (new discovery). No mineral resources or reserves have been published.