Onyx Gold Returns 194 m of 1.8 g/t Au at Argus North, Including 28 m of 3.0 g/t Au and 24.1 m of 3.7 g/t Au

Onyx Gold announced further drill results from its ongoing 75,000-metre program at the Munro-Croesus Project in Ontario. The highlight was from the Argus North Zone, where drill hole MC25-233 intersected a broad zone of mineralization grading 1.8 g/t Au over 194.0 metres, including higher-grade sub-intervals of 3.0 g/t Au over 28.0 metres and 3.7 g/t Au over 24.1 metres.

Additional results from the Argus Main Zone returned lower-grade, near-surface intervals, such as 1.1 g/t Au over 16.0 metres in hole MC25-211.

The company reports that 36,000 metres of the planned 75,000-metre program have been completed and that it maintains a strong treasury of approximately $30 million.

This news is materially positive and aligns with, and reinforces, the series of exceptional drill results from the Argus North discovery since April 2025. The headline intercept of 194.0 m of 1.8 g/t Au is significant in both width and grade, providing strong confirmation of the scale and continuity of the gold system first identified in the discovery hole MC24-163 (69.6 m of 3.4 g/t Au).

This result is comparable in grade-thickness to the previous standout intercept from November 17 (208 m of 2.3 g/t Au), demonstrating consistency and validating the company's geological model. While the market is beginning to expect such strong results from Argus North, this release successfully meets those high expectations, further de-risking the project and solidifying its status as one of the most promising new discoveries in the Timmins camp.

The lower-grade results from Argus Main are consistent with the company's interpretation of that zone as a separate, large, bulk-tonnage target. The primary value driver remains Argus North, and these results continue to build the case for a significant, potentially open-pittable resource.

Financially, the company is in an enviable position with ~$30 million in cash, fully funding the aggressive 75,000-metre drill program and follow-up work without any near-term financing risk. The market's reaction was muted, with the stock pulling back to $1.43 from recent highs, suggesting the result was largely priced in after the spectacular November intercept. However, for a long-term investor, this is a crucial confirmation of the project's potential.

Onyx Gold Corp. is a junior exploration company focused on gold projects in established Canadian mining jurisdictions. Its flagship asset is the 100%-owned Munro-Croesus Project, located in the prolific Abitibi greenstone belt, 75 km east of Timmins, Ontario. The primary focus is the Argus North discovery, a new zone of wide, near-surface gold mineralization. The project also hosts the past-producing high-grade Croesus Gold Mine. The company holds additional properties in the Timmins camp and the Yukon Territory.