Onyx Gold Corp. announced that it has completed a purchase agreement with a Private Vendor pursuant to which Onyx will acquire the Lalonde Property located approximately 85 km east of Timmins, Ontario. The Lalonde Property acquisition expands the Munro-Croesus Property to 9,235 ha, a 32% increase, adding substantial exploration potential across this relatively underexplored yet highly prospective section of the Timmins Gold Camp.

Details of the Lalonde Property The Lalonde Property, located approximately 85 km east of Timmins, Ontario, is a large (2,235 ha) contiguous land package with Onyx's current Munro-Croesus Property and fills in a major tract of prospective stratigraphy between existing claim blocks. The Property comprises 53 unpatented mining claims and five 21-year mining leases, of which the mining leases comprise most of the Lalonde land package. The Property has excellent access, with the paved Highway 101 passing the southern boundary of the Property and gravel secondary roads accessing the central portion.

The Property has been explored since 1912 by trenching, shallow shaft sinking to 12 meters or less, ground geophysical surveys, geological mapping, and limited shallow diamond drilling. In 1994, prospector Doug Lalonde uncovered spectacular coarse-grain gold in quartz veins from a blasted trench grading up to 2,500 g/t Au (Plate 1). Sporadic exploration work has been completed on the Property since 1994, with the last exploration program completed in 2011.

The Property has been idled since that time. The Lalonde Property lies 8 to 10 km north of the Porcupine-Destor Fault Zone. The Property geology is dominated by east-west-striking mafic and ultramafic volcanics that dip steeply to the north and are cut by northeast-striking cross-faults similar to mineralized structures on the existing Munro-Croesus property.

The dominant structural feature on the Property is the east-west-striking Munro Fault, a regional scale splay from the Porcupine-Destor Fault Zone, which is host to the Jonpol deposit at Moneta Gold's Tower Gold property (formerly Garrison) located 18 km to the east-southeast. A total of ten (10) gold occurrences have been discovered on the Property to date. Mineralization across these gold occurrences appears to be of two types: either associated with strike-slip shear structures related to the Munro Fault or cross-fault dilatant structures.

Below is a summary of the top five (5) gold occurrences. The C Zone is located at the southern portion of the Property. This zone contains the most significant mineralization on the Property and is described as quartz vein/stockwork within a 5- to 15-meter-wide zone of bleaching in a brittle deformation zone, cutting pillowed basalts to andesites.

In 1994, prospector Doug Lalonde extended previously completed stripping to the northeast and uncovered a second vein structure that contained spectacular visible gold associated with arsenopyrite, grading up to 2,500 g/t Au. This high-grade vein has characteristics like the historic Croesus Mine, including vein orientation and mineralization style, indicating the potential for more 'Croesus-like' veins on the Property. The Adit Zone, also known as the J-Zone, is in the northwest corner of the Property.

There are three old adits as well as a possible shaft of unknown age on this vein system. The Adit Zone is comprised of up to three sub-parallel quartz veins up to 3 meters wide exposed over 142 meters. Historic grab samples from the veins have graded as high as 57.8 g/t Au.

The A Zone, located in the central portion of the Property, is defined by two shallow shafts or pits in a grey/green aphanitic volcanic with talc/ankerite alteration containing coarse needles of arsenopyrite and disseminated pyrite. Bruneau Mining (1986) obtained a grab sample value of 7.1 g/t Au and Doug Lalonde (1994) obtained an assay from a grab sample of 41.1 g/t Au. The F Zone, also located in the central portion of the Property, was first reported in 1935 by Young Munro Mines with a shaft sunk to 6.1 meters and, by 1952, deepened to 12.2 meters.

The shaft tested carbonatized tholeiitic basalt flows cut by carbonate stringers and bluish-grey quartz. The F Zone is a dilatant shear-associated zone trending east-west with pyrite-arsenopyrite mineralization with discontinuous quartz breccias, veins, and pods. An assay value of 16.0 g/t Au was obtained in a grab sample.

The G Zone, located in the northwest portion of the Property, is a showing that is trending northwest-southeast with gold values associated with two narrow subvertical arsenopyrite-rich quartz-carbonate veins. Drilling by Canamax (1986) returned a value of 6.26 g/t Au over 0.46 meters and a grab sample taken by Canamax graded 10.15 g/t Au. The G Zone is described as a narrow, steeply north plunging shoot that forms within quartz-calcite-tourmaline and quartz-axinite veining, enriched in arsenopyrite and gold.