Onyx Gold Corp. provided an update on its ongoing exploration program at the King Tut Property located in Yukon, Canada. A fully funded drill program consisting of 8-10 diamond drill holes for a planned 2,500 meters is underway and is expected to continue until mid to late September.

Results are expected in mid-to-late October and will be issued regularly throughout the remainder of the year. Exploration Update: Completion of Seven diamond drill holes (1,661 m) at the Main Tut and Golden Mask targets, with drilling ongoing;. Collection of Over 1,350 soil samples looking to expand known gold-in-soil anomalies to identify new targets for follow-up;.

Completion of High-resolution LiDAR topographic surveying of the entire property;. Completion of 1,500 line-km of drone-based magnetic geophysical surveying, with preliminary data generating several prospective targets to help guide current drilling; and Mapping, prospecting, and geochemical sampling is ongoing. Yukon Properties.

Onyx controls a portfolio of greenfield gold properties in eastern Yukon, totaling 210 km2. The King Tut Property is Onyx's most advanced and compelling property, located in the heart of an emerging reduced intrusive-related gold district in Yukon's Selwyn Basin. Previous fieldwork identified large-scale undrilled gold-in-soil anomaly in a comparable geological setting 50 km from Snowline Gold's Rogue/Valley Discovery, one of Canada's most significant new gold discoveries.

Onyx commenced the first-ever drill program on the King Tut Property in late July of this year. Phase 1 drilling focused on testing the Main Tut and Golden Mask gold-in-soIL anomalies which are associated with two separate intrusion-related gold systems. Two drill holes were completed at the Main Tut target (639 m), and five drill holes (1,022 m) have been completed at the Golden Mask target. Results are pending.

In addition to drilling, Onyx has undertaken extensive geophysical and geochemistry surveys and mapping and prospecting programs that have generated prospective targets for future drilling and other exploration work. Preliminary data from the drone-based magnetic geophysical survey has been processed and interpreted, and the results are helping guide current drilling and future exploration plans, highlighting the significant upside potential of the King Tut Property.