Final Share Payment from Snowline Gold under Prior Property Option Agreement Received

Vancouver, British Columbia--(Newsfile Corp. - October 5, 2023) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) ("Onyx" or the "Company") is pleased to announce the completion of its summer exploration program at the King Tut Property ("King Tut") located in Yukon, Canada (Figure 1). Field crews have demobilized from King Tut and, after taking a short break, have headed to Onyx's Timmins, Ontario, area gold projects for the start of the Company's fall exploration program.

"I am pleased to announce that we have successfully completed the first-ever drill program on our King Tut Property situated in one of the most exciting emerging gold districts in Canada," said Brock Colterjohn, President & CEO. "We are excited to now shift our focus to Ontario, where we intend to undertake a fall exploration program, including a 4,000 meter diamond drill program at our Munro-Croesus property, which is expected to commence in the upcoming weeks. We look forward to initial Yukon results, expected towards the end of October, with continued results from Yukon and Ontario released over the year."

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