Canadian Explorer Reports Broad Timmins Gold Mineralization Expansion

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

On March 14, 2026, Onyx Gold Corp. (ONYX:TSX.V) announced new drill results from its fully-funded, massive 110,000-meter drill program at its Munro-Croesus project near Timmins, Ontario. The results encompass 18 drill holes from both the Argus Main and Argus North zones and outlined a gold system extending over 1.4 kilometers of strike length and more than 500 meters vertically. These results support the company's belief that ". . . northeast-trending structural corridors are controlling higher-grade gold mineralization across the Argus zones, and potentially along multiple kilometers of the Pipestone Fault corridor."

Two holes were drilled in the Argus Main zone, with gold (Au) highlights as follows:

• 69.9 m grading 0.7 grams per tonne (g/t) Au (Upper Zone) in drill hole MC26-288, including 16.5 m grading 2.1 g/t Au, and a second deeper intersection of 43.0 m grading 0.3 g/t Au (Middle Zone), and a third deeper intersection of 58.5 m grading 0.6 g/t Au (Lower Zone), including 12.3 m grading 1.8 g/t Au
• 126.2 m grading 0.3 g/t Au (Upper Zone) in drill hole MC26-292, including 6.0 m grading 1.2 g/t Au, and a second deeper intersection of 40.7 m grading 1.3 g/t Au (Middle Zone), including 5.8 m grading 5.8 g/t Au, and a third deeper intersection of 120.2 m grading 0.4 g/t Au (Lower Zone), including 18.5 m grading 1.3 g/t Au
• Three stacked mineralized zones intersected in both drill holes from near-surface to approximately 400 m depth, with total cumulative downhole widths of 287.1 m of mineralization in MC26-292 and 171.4 m of mineralization in MC26-288
• The new drill holes extend mineralization a further 40 m northeast from previously reported discovery holes MC26-267 and MC26-270
• Mineralization at Argus Main appears linked to high-grade surface channel and grab samples grading between 5.2 g/t Au and 14.7 g/t Au over a 35 x 30 m area
• Argus Main remains open along strike and at depth with one drill rig dedicated to systematic expansion drilling

Highlights from 16 drill holes at the Argus North zone include:

• 28.0 m grading 1.6 g/t Au (from surface), in drill hole MC25-248, including
• 2.0 m grading 6.5 g/t Au, AND
• 42.0 m grading 1.8 g/t Au, including
• 4.0 m grading 8.0 g/t Au
• 42.0 m grading 1.4 g/t Au (from surface), in drill hole MC25-251, including
• 7.8 m grading 3.5 g/t Au, AND
• 45.9 m grading 1.4 g/t Au, including
• 19.0 m grading 2.6 g/t Au, and including
• 4.0 m grading 7.2 g/t Au
• 48.9 m grading 1.2 g/t Au, in drill hole MC25-238, including
• 2.0 m grading 2.9 g/t Au
• 34.8 m grading 1.2 g/t Au, in drill hole MC26-266, including
• 12.0 m grading 2.4 g/t Au
• Argus North continues to deliver broad zones of gold mineralization from surface to depth, reinforcing the expansion potential of the zone and the greater Argus mineralized corridor

Brock Colterjohn, Onyx Gold's president and CEO, said in the press release, "These latest results continue to demonstrate the growing scale and continuity of the Argus system and further validate our interpretation that northeast-trending structures are controlling higher-grade gold mineralization across multiple zones. What is particularly exciting is that Argus Main is beginning to show characteristics similar to Argus North, with broad mineralized envelopes containing higher-grade intervals associated with these structures. With four rigs active and more than 50,000 m still to drill this year, we believe we are still in the early stages of unlocking the broader potential of the system along the Pipestone Fault corridor."

The company's Munro-Croesus project is roughly 75 km east of Timmins and sits in the heart of the Abitibi greenstone belt, Canada's premier gold mining jurisdiction. According to the company, "The project covers 112 km² of highly prospective geology within the influence of major gold-bearing structural breaks. Bulk-tonnage gold deposits located in the immediate region include the Fenn-Gib gold project being developed by Mayfair Gold (MFGCF:OTCMKTS) and the Tower Gold Project being developed by STLLR Gold Inc. (MEAUD:OTCMKTS; STLR:TO)."

A Canadian exploration company, Onyx Gold Corp. is focused on district-scale gold opportunities in Ontario and the Yukon territory.

Gold Slowing but Still Up

Gold's meteoric price rise has slowed since the beginning of the U.S.-Iran War, gaining only 0.03% since yesterday at US$4,541.69 per ounce. However, gold has shot up 41.80% since this time last year, and the market remains bullish despite recent slowdowns. Global and geopolitical uncertainties, coupled with fears of inflation and concern of President Donald Trump's volatile social media presence affected prices at the beginning of the week.

Tim Manni of Yahoo Finance reported on May 18, 2026, that, "Once again, the president’s Truth Social posts are part of the headlines this morning. Last week, it was President Trump’s weekend reaction to a peace proposal from Iran, calling it 'TOTALLY UNACCEPTABLE!' Today, markets are reacting to his post from Sunday, saying, 'For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them.' Couple the increased rhetoric with drone strikes over the weekend, and stock futures are holding lower this morning, oil prices are higher, Treasury yields are up, and gold and silver prices are down."

In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."

Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Expert to Buy More Stock

Jeff Valks of The Gold Advisor weighed in on Onyx Gold on May 14, 2026, rating the stock as a "Buy", saying: "Onyx has four rigs active, about CA$20 million in cash, and more than 50,000 meters still to drill this year. Argus is gaining scale, continuity, and repeatability. That is a strong combination in Timmins."

Valks noted that he holds a long position on the company, while his colleague, Jeff Clark, looks to purchase more of the stock.

Investors, along with Valks, await results from the remaining meters planned in the 2026 drill program.

Ownership & Share Information¹

Onyx Gold Corp. has a market cap of CA$117.30 million, with 85.62 million shares outstanding. The company's 52-week range is CA$0.91-CA$2.60. Insiders & Management own 5% of shares, while Strategic Investors own 21%. Institutions own 32% of shares, and the remaining 42% are Retail.