Acquisition Announcement - Onyx Gold Corp. has entered into an agreement to acquire a property consisting of one mining lease and four unpatented mining claims in the Matheson area, Ontario, which will expand the total area of the Munro-Croesus Property to 10,588 hectares (105.8 km²) [1] - The acquisition involves a cash payment of $20,000 and the issuance of 120,000 common shares to the vendor, pending regulatory approval [1] - The property is subject to a pre-existing 2% Net Smelter Return (NSR) payable to another arm's length party [1] Company Overview - Onyx Gold is an exploration company focused on Canadian mining jurisdictions, with assets in Timmins, Ontario, and Yukon Territory [3] - The company holds a portfolio of gold projects, including the high-grade Munro-Croesus Gold property and two earlier-stage exploration properties, Golden Mile and Timmins South [3] - Onyx Gold also controls four properties in the Selwyn Basin area of Yukon Territory, which is gaining significance due to recent discoveries [3] - The company's management team is committed to creating shareholder value through responsible mineral exploration and capital allocation [3]
Onyx Acquires Additional Mineral Property in Timmins Camp