Onyx Gold Reports Significant Drill Results at Argus North Zone

On November 17, 2025, Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) announced a significant development at its Argus North Zone, part of the 100%-owned Munro-Croesus Project located 75 kilometers east of Timmins, Ontario. The company reported a remarkable drill intercept from hole MC25-232, which revealed an extensive gold mineralization of 208 meters grading 2.3 grams per tonne (g/t) gold. This result includes notable sub-intervals, such as 54.4 meters grading 3.3 g/t Au and 24.9 meters grading 5.2 g/t Au, enhancing the potential of the Argus North discovery.

The recent drilling activity is part of Onyx Gold’s ongoing exploration program designed to explore a newly identified northeast-trending structural corridor beneath the Argus North outcrop. This target emerged from comprehensive geological mapping and surface channel sampling, indicating a strong structural influence on gold distribution. The success of hole MC25-232 not only confirms the geological interpretation but also extends the known mineralization footprint by an additional 50 meters to the south.

Expanding the Mineralized System

The ongoing exploration at Argus North has consistently yielded broad intervals of gold mineralization, now traced over 150 meters of strike length and to depths exceeding 350 meters. This most recent drill hole confirms the extensive and continuous nature of gold mineralization within the Argus North Zone. Brock Colterjohn, President and CEO of Onyx Gold, stated, “The 208 meters intersection grading 2.3 g/t gold in MC25-232 represents another significant step forward at Argus North, delivering our broadest zone of continuous mineralization to date.”

In addition to the latest results, previous drilling has provided multiple high-grade intercepts, including 69.6 meters grading 3.4 g/t Au from the initial discovery hole MC24-163. Noteworthy high-grade intervals from other recent holes include 17.0 meters grading 5.3 g/t Au in hole MC25-168 and 18.7 meters grading 5.2 g/t Au in MC25-171. Such results underscore the potential for significant gold resources within the Munro-Croesus Project, which lies near the regional Pipestone Fault, a critical structural corridor known for hosting numerous substantial gold deposits.

Future Exploration Plans

Onyx Gold has completed 81 drill holes to date, with assays announced for 37 of those holes. The company is transitioning from a previously announced 25,000-meter Phase II drill program to a fully funded 50,000-meter Phase III program, utilizing three drill rigs to expedite exploration efforts across the Munro-Croesus Project. The ongoing step-out drilling at Argus North, combined with mechanical stripping and channel sampling, aims to further delineate and expand the gold mineralization.

As the Argus North Zone remains open along strike, down-dip, and down-plunge, the opportunities for further discovery are promising. Colterjohn remarked, “With a fully funded additional 50,000-meter drill program now underway, we are well positioned to accelerate growth at Argus North and systematically test the broader structural corridor across the Munro-Croesus Project.”

The Munro-Croesus Project is situated in the heart of Canada’s Abitibi greenstone belt, an area renowned for its significant gold mining history. Onyx Gold’s land package includes the historic Croesus Gold Mine, which previously produced some of the highest-grade gold in Ontario. The successful consolidation of claims from 2020 to 2025 has enhanced the exploration potential of the project, further solidifying its position within the Timmins gold camp.

As Onyx Gold continues to advance its exploration initiatives, the company remains committed to delivering value to its shareholders through disciplined exploration, strategic growth, and responsible resource development. For more information, visit the Onyx Gold website at www.onyxgold.com.