Argus Main Returns 1.0 g/t Gold over 93.0 Meters; New Drilling 250 Meters Northeast Intersects 2.6 g/t Gold over 7.3 Meters
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) ("Onyx" or the "Company") is pleased to report results from 17 drill holes at its 100%-owned Munro-Croesus Project ("Munro-Croesus" or the "Project"), located 75 km east of Timmins, Ontario. The results extend gold mineralization at both Argus North and Argus Main and identify a new area of mineralization 250 m northeast of Argus Main along the projected Argus Fault corridor.
The most significant result is from Argus North, where hole MC26-274A returned 3.5 g/t gold ("Au") over 28.1 meters ("m"), including 5.3 g/t Au over 17.8 m. Drilling has now intersected Argus North from near surface to more than 700 m vertical depth, and the zone remains open at depth and along strike.
At Argus Main, three (3) deeper holes continued to intersect broad gold mineralization, including 1.0 g/t Au over 93.0 m in hole MC26-324. Approximately 250 m to the northeast, first-pass drilling intersected 2.6 g/t Au over 7.3 m in a previously undrilled area, providing a new target for follow-up.
Highlights from Argus North
Argus North continues at depth: the zone has now been intersected to more than 700 m vertically and remains open.
MC26-274A: 3.5 g/t Au over 28.1 m, including 5.3 g/t Au over 17.8 m, including 23.1 g/t Au over 1.0 m and 11.4 g/t Au over 2.0 m
MC26-271: 3.5 g/t Au over 19.0 m, including 8.3 g/t Au over 6.6 m, including 24.3 g/t Au over 1.0 m
Highlights from Argus Main
Argus Main is developing as a broad mineralized system: all three holes reported from the current step-out program returned multiple gold intervals, including higher-grade sections within wider envelopes.
MC26-324: 1.0 g/t Au over 93.0 m, including 2.0 g/t Au over 20.0 m, including 9.8 g/t Au over 1.0 m; plus a separate interval of 0.9 g/t Au over 33.0 m, including 3.0 g/t Au over 6.0 m. Importantly, the hole finished in strong mineralization, returning up to 19.3 g/t Au over 0.7 m in the final four meters and ending in 1.4 g/t Au over the last meter, indicating the system could continue at depth. Follow-up drilling is planned to extend the hole and test for further mineralization.
MC26-317: 0.8 g/t Au over 98.9 m, including 1.1 g/t Au over 35.8 m and 2.7 g/t Au over 5.9 m
Highlights from New Northeast Target
The Argus trend is expanding: first-pass drilling 250 m northeast of Argus Main within massive and pillowed mafic flows has intersected gold along the projected Argus Fault corridor, opening a new area for systematic follow-up.
MC26-316: 2.6 g/t Au over 7.3 m; including 8.8 g/t Au over 1.5 m
MC26-314: 1.3 g/t Au over 5.7 m; including 2.2 g/t Au over 3.0 m